Opposition slams $20m mortgage relief ‘farce’
Opposition politicians yesterday slammed the latest Mortgage Relief Plan (MRP)as “a farce”, and questioned why the Bahamian people were giving the banks a $20 million subsidy for activities they already financed themselves.
BPL to raise $100m in fiscal 2017-2018
Bahamas Power & Light (BPL) plans to raise $100 million in new debt financing during the 2017-2018 fiscal year, it was revealed yesterday, and is working on a new tariff structure and customer debt forgiveness.
Mortgage plan failing to tackle ‘root cause’
The Government’s revised Mortgage Relief Plan (MRP) fails to “address the underlying structural causes” of the crisis, Opposition politicians charged yesterday, urging it to instead focus on “big ideas”.
SUPERGREEN SOLUTIONS: ‘Cheap’ is not best on renewable energy
We are so often faced with rising costs without any option other than to squeeze the budget tighter, or go without some of those nice things that make life bearable. Earlier this year, we enjoyed a global low in oil prices. Combined with the reduced need for air conditioning in the winter, that meant lower electricity bills for most Bahamians. But ‘the times, they are a-changin’’, and summer is here. Our electricity bills will rise whether we like it or not. It is time to take our power back.
Construction approvals suffer $101m value fall
Construction approvals declined in value by 24 per cent or $1010.3million for the first three quarters of the 2015-2016 fiscal year, the Deputy Prime Minister said yesterday.
System loss reductions save Water Corp $15m
The Water and Sewerage Corporation’s (WSC) initiative to slash non-revenue water (NRW) losses has resulted in savings of $15 million to-date, the Deputy Prime Minister said yesterday.
Customs ‘challenged’ to match courier pace
Bahamas Customs yesterday admitted it had been experiencing “challenges” in keeping pace with the fast-growing courier sector, and the surge in imports generated by Bahamians purchasing online.
Bahamians told: ‘It’s two months of energy hell’
The head of Bahamas Power & Light’s (BPL) managerial union yesterday blamed ex-chairman, Leslie Miller, and his Board for Nassau’s ongoing power blackouts, and added: “The next two months are going to be hell.”
Landfill recycling resumption ‘still couple weeks away’
The Government has yet to reach a decision on the New Providence landfill operator’s request for its five-year management contract to be revised, with its recycling facility still a fortnight away from resuming operations.
Natural justice ‘can’t be inferred’ into job contracts
Natural justice “cannot be inferred” into a private employment contract, the Court of Appeal ruled yesterday, dismissing an action brought by a former Bahamian employee of US Airways.
Energy crisis an investor ‘turn off’
The Bahamas’ energy crisis is “turning off” both local and foreign investment in this economy, the Democratic National Alliance’s (DNA) leader charging yesterday that consumers were being “kept in the dark” on changes.
NIB gains $400,000 in past due payments
The National Insurance Board (NIB) has gained more than $400,000 in outstanding contributions since launching a payment plan incentive for employers in February, a Cabinet Minister said yesterday.
Baha Mar implosion blamed for NIB miss
A Cabinet Minister yesterday blamed the National Insurance Board’s (NIB) failure to meet its $260 million contribution target for 2015 on Baha Mar’s failure to open, with income coming in $2.8 million below forecast.
Govt’s new security near $250m target
The Government’s new Treasury Note security will finish “pretty close” to its $250 million first-year target, with the last 2015-2016 issue oversubscribed by at least 20 per cent.
Hard Rock saga exposes business ease ‘black hole’
The former Hard Rock Cafe (Nassau) franchise’s road to liquidation was marked by high utility costs, poor labour productivity, crime and the ongoing problems affecting downtown Bay Street.
