Web shop foundation to benefit 12 entrepreneurs
The Island Luck Cares Foundation yesterday unveiled the second edition of its OWN Bahamas entrepreneurship initiative, the web shop chain’s chief executive revealing that 12 successful applicants will receive grant funding.
‘Preposterous’ for PM to take Baha Mar credit
An Opposition MP yesterday said it was “preposterous” that Prime Minister Perry Christie believes he should be applauded for his efforts on Baha Mar, when the Government’s actions had helped created the $3.5 billion development’s predicament.
GB Power clients ‘escape’ 4.5% rise
Grand Bahama Power Company yesterday said its decision to defer new generation investment had enabled customers to escape a 4.5 per cent base rate “charge” that would have been added to their bills.
Gov’t rescues CLICO policies at ‘11th hour’
The Prime Minister may have prevented the cancellation of medical insurance for hundreds of Bahamians yesterday by confirming the Government has finally approved a ‘rescue plan’ for CLICO (Bahamas).
GB residents to gain $3m energy windfall
Hard-pressed Grand Bahama residents will have a collective $3 million returned to them as a result of their energy provider’s revised tariff structure, Tribune Business was told yesterday.
Port tax breaks to gain further 6-month life
Prime Minister Perry Christie yesterday said the Government will extend the Hawksbill Creek Agreement‘s (HCA) expiring tax incentives for a further six months, with the House of Assembly called on to approve the move next week.
Gov’t warned over Freeport ‘side deals’
The Government was yesterday warned not to agree any “side deals” with Freeport’s largest investors at the expense of all other businesses, should it ultimately decide not to renew the city’s expiring tax breaks long-term.
Gov’t ‘back to drawing table’ on draft NHI Bill
The National Health Insurance (NHI) Secretariat was yesterday said to have “gone back to the drawing table” over the legislation that will facilitate the scheme’s implementation.
PM refutes Customs ‘under-performance’
Prime Minister Perry Christie yesterday said import duty-related revenue had declined due to new tax treatments designed to accommodate Value-Added Tax (VAT), not “under-performance”.
Five-year deal gives BEC union transition focus
The Bahamas Electrical Managers Union (BEMU) yesterday said its new five-year industrial agreement allows it to focus directly on the Bahamas Electricity Corporation (BEC) reform process.
BEC takeover set for Monday
The Bahamas Electricity Corporation (BEC) will finally be placed under private sector management this coming Monday, Tribune Business was told yesterday.
Mortgage relief a ‘twin-edged sword’
Arawak Homes’ chairman yesterday conceded that any Government action to address the Bahamas’ $675 million ‘bad’ mortgage crisis would be “a twin-edged sword”, as the threat of creating ‘moral hazard’ among existing borrowers was “very real”.
‘Ticking timebomb’: Gov’t warned to defuse Freeport
The Government was yesterday urged to rapidly defuse the “ticking timebomb” that is Freeport’s expiring tax breaks, a well-known businessman warning that the city’s private sector is “stuck in limbo” until it acts.
Scotia shrugs off Baha Mar collapse
Baha Mar’s collapse into receivership will “not have a significant impact” on Scotiabank (Bahamas) 2015 financial results, even though its equity stake in the project has effectively been written down to zero.
Long Island’s private sector at 35% capacity
JUST 35 per cent of Long Island businesses are back in operation three months after they were devastated by Hurricane Joaquin, the island’s Chamber of Commerce president yesterday estimating that the private sector will take two years to “get back to where it was”.
