Never again: New insurance structure eyed for Out Islands
Exploratory talks are being held to develop an insurance structure that will provide at least partial cover for Family Island businesses against another Joaquin-type storm.
Joaquin requests up to 25 times Rebuild’s limit
The Rebuild Bahamas hurricane relief fund has received funding applications up to 25 times’ greater than the maximum it can provide per business, Tribune Business has been told.
Disclose Carnival return forecasts, says Turnquest
The Government was yesterday urged to give Bahamians “a ‘reasonable expectation” of what this year’s Junkanoo Carnival will generate in terms of investment returns.
‘Ween off’ FDI reliance to escape external shocks
The Bahamas will continue to remain vulnerable to external shocks unless it reduces its over-dependence on foreign direct investment (FDI), the Opposition’s finance spokesman said yesterday.
BREA chief slams 20% ‘surge’ as inaccurate
A furious Bahamas Real Estate Association (BREA) president yesterday slammed the “member” responsible for leaking inaccurate data suggesting market sales volumes rose 20 per cent in 2015, when they actually dropped almost 10 per cent.
Gov’t urged: Set end-June deadline for Baha Mar sale
The Government was yesterday urged to set an end-June 2016 deadline for Baha Mar’s auction to start, an ex-director for the project describing himself as “amazed” at the subsequent deal granted to its main contractor.
Full web shop licences ‘three months away’
A Cabinet Minister said yesterday that ‘plenary’ or absolute web shop operator licences are “about three months away” from being granted, although concerns remain over ongoing legal disputes and how they might affect the process.
Pointe work permits making Bahamians ‘second rate citizens’
The 500 work permits granted to The Pointe’s Chinese developer were yesterday branded “a slap in the face” of unemployed construction workers, and a sign Bahamians “are second class citizens in the own country”.
Gov’t ‘failed to protect’ Cabbage Beach vendors
The Government was yesterday accused of failing to safeguard the interests of Cabbage Beach vendors during the One & Only Ocean Club sale, which included the ‘beach access’ route at the centre of the controversy.
‘Selfish’ student loan delinquents slammed
Thousands of delinquent student loan borrowers were yesterday urged to stop being “selfish” and repay their debts, the Chamber’s chairman warning that they were denying other Bahamians the same opportunity.
Cruise lines back Junkanoo Carnival
The Minister of Tourism said yesterday that his Ministry has the support of the cruise lines to provide visitors for this year’ss Junkanoo Carnival, adding that the event must go global.
CCA pursued new work while Baha Mar ‘failed’
Baha Mar’s contractor was allegedly so busy pursing work on other Caribbean mega resort projects that it failed to focus on the $3.5 billion development “at a crucial time”, bringing it to the “point of failure”.
500 work permits for The Pointe
The Government has granted China Construction America (CCA) 500 work permits for its The Pointe project, it was confirmed yesterday, and agreed that the workforce will only be 40 per cent Bahamian.
Sarkis wants probe into CCA’s ‘highly irregular expenses’
Baha Mar’s ex-president yesterday demanded a probe into its contractor’s “highly irregular expenses” claims. and branded its behaviour as “all the more extraordinary” given that it knew in advance the $3.5 billion project was unlikely to meet its March 27, 2015, opening.
Joaquin: 60% of business appliers are not approved
Around 60 per cent of applications to the joint Rotary-Chamber of Commerce Joaquin relief fund have not been approved, it was revealed yesterday, due to “challenges” with business record-keeping.
