Customs union in deal closure push
The Bahamas Customs, Immigration & Allied Workers Union (BCIAWU) yesterday urged the Government to “bring closure” to the industrial agreement, dealing with salaries, benefits and allowances, that it has signed off on.
Baha Mar creditors to get ‘about $100m’
The China Export-Import Bank is releasing “about $100 million” to pay out Baha Mar’s Bahamian creditors, Tribune Business was told yesterday, amid continuing distrust over the deal struck by the Christie administration.
Bahamian group in new landfill proposal
A Bahamian consortium of waste service providers has submitted a new proposal to take over management and remediation of the New Providence landfill, as the Government bids to decide the facility’s future direction “in the next few weeks”.
Trade unions branded ‘abusive, destructive’
A well-known Freeport businessman has branded Bahamian trade unions as “abusive and destructive”, and called on the Government to “stop sticking its nose” into private enterprise.
Mortgage Corp bonds eyed to address 2-3k housing waiting list
The Ministry of Finance will meet with the Central Bank this week to discuss whether the Bahamas Mortgage Corporation (BMC) can issue more bonds, with between 2,000-3,000 qualified applicants still on the waiting list for low-cost government homes.
Ex-contractors chief ‘surprised’ if Baha Mar firms made whole
A former Bahamian Contractors Association (BCA) president yesterday said he had “no doubt” that Baha Mar’s main contractor would use its seat on the creditor payout committee to ‘beat down’ the value of local claims.
Minister targets yearly financial law upgrades
Legislation affecting the financial services industry must be reviewed on an almost yearly basis if the Bahamas is to remain competitive, a Cabinet minister said yesterday.
Minister ‘surprised’ at 1,000 Bahamian firms owed over Baha Mar
A Cabinet minister yesterday said he was “surprised” that more than 1,000 Bahamian companies are unsecured creditors of the Baha Mar project.
Minister: No Andros mining plan received
The Government has received no formal proposal for aragonite mining in North Andros, the Minister of the Environment and Housing said yesterday.
Ex-Kerzner executive takes over at Atlantis
Atlantis’s owner yesterday said it had appointed a former Kerzner International officer to replace Paul Burke as the Paradise Island -based resort’s top executive.
Govt given road map to $2bn pension cuts
The Government could reduce its combined civil service and public corporation pension liabilities by more than $2 billion come 2032, provided it enacts reforms to prevent a major financial and social crisis.
CCA’s Baha Mar creditor committee ‘conflict’ slammed
The Opposition’s deputy leader yesterday slammed the ‘conflict of interest’ created by the inclusion of a senior China Construction America (CCA) executive on the committee that will handle Baha Mar creditor payouts.
$30m ‘game changer’ target for Freeport
A realtor is hoping innovative marketing will enable him to succeed where others have failed in selling Freeport’s $30 million Xanadu Beach Resort, describing a successful deal as “a game changer” for the city.
BOB non-compliant with 80% of regulatory ratios
Bank of the Bahamas shareholders are being asked to “throw good money after bad”, with the BISX-listed institution now non-compliant with four out of five key Central Bank capital ratios.
NewCo2015 seeks 25% higher charges for call termination
The Bahamas Telecommunications Company (BTC) has begun battle with its new mobile rival more than a month before the latter launches, with the two differing sharply over its initial termination rates.
