Gov’t urged: Don’t ‘act on desperation’ over Baha Mar fate
The Government was yesterday urged not to “act on desperation” over Baha Mar, the Opposition’s deputy leader warning: “Don’t give away the house for the sake of one roof.”
Government and Sarkis now ‘irrelevant’ over Baha Mar
The Bahamas Chamber of Commerce’s chairman yesterday said the China Export-Import (CEXIM) Bank and Baha Mar’s receivers are the “only voices that matter right now”, as speculation surrounding the $3.5 billion project’s fate reaches fever pitch.
Freeport revenues, production hit by work permit delay
Immigration is “one of the most persistent concerns” for Freeport businesses, with work permit delays responsible for revenue and production losses.
BTC union files trade dispute
The trade union representing the Bahamas Telecommunications Company’s (BTC) line staff is still seeking to resolve employee pay and recognition-related issues dating back to 2011.
‘Bad’ loans to stay within $850-$900m
‘Bad’ commercial bank loans will remain within the $850-$900 million range over the short-term, the Central Bank is forecasting, as the value of mortgage collateral continues to decrease.
Developer claims residents were ‘inciting confrontation’
The Abaco Club’s principal has accused some Little Harbour residents of seeking to “incite confrontation” against him over its controversial 44-slip marina planned for that community.
Gov’t ‘got nothing’ for foregone $2bn taxes
The Government’s deal with the Grand Bahama Port Authority (GBPA) “makes no sense” because it has gained just “nebulous promises” in return for foregoing potentially $2 billion in taxes.
Education woes leave ‘blind leading blind’
The Bahamian education system’s woes have created sub-standard management throughout the Government and private sector, resulting in “the blind leading the blind”.
Unregulated pensions a ‘disaster in the making’
The Government has again been urged to prioritise legislation for the $1 billion-plus private pension industry, with financial managers warning the lack of oversight is “a disaster in the making”.
Cable seeks protection on mobile pay regime
Cable Bahamas has urged regulators to protect consumers and a “competitive level playing field” by preventing BTC from choosing the payment regime for calls terminating on its network.
Ex-Baha Mar director ‘a complete hypocrite’
A Cabinet Minister yesterday slammed Dionisio D’Aguilar as “a complete hypocrite”, and said the Government had “from day one” set making all Baha Mar’s Bahamian creditors whole as “a condition precedent” to approving any purchase.
Plaza battle brews on City Market pensions
The long-running City Markets pension fund saga has given rise to a brewing legal battle over the majority 70 per cent ownership interest in a West Bay Street shopping plaza.
Next Gov’t urged: Do ‘proper review’ on Freeport future
A former Grand Bahama Port Authority (GBPA) attorney yesterday urged the next government to initiate “a proper review” of Freeport’s future, arguing that the Christie administration’s deal would produce “an even worse” economy long-term.
High school leavers: 30% ‘unemployable’
An ex-Grand Bahama Port Authority (GBPA) attorney yesterday warned there was “little hope” for the economy without Immigration and education reform, and branded almost one in three high school graduates as unemployable.
Local contractors to ‘lose’ on big projects
Bahamian contractors will likely “lose out” on major Grand Bahama investment projects due to difficulties in obtaining competitive performance bonds and an absence of certification standards, an attorney said yesterday.
