Water Corp supplier sees silver lining despite $2.5m fall
The Water & Sewerage Corporation’s main supplier yesterday said it sees a ‘silver lining’ in the leak prevention programme that caused a $2.5 million year-over-year reduction in its Bahamian subsidiary’s revenues.
CIBC: 70% of staff exits ‘voluntary’
Some 70 per cent of the workers that have left CIBC FirstCaribbean International Bank (Bahamas) as a result of its ongoing restructuring were voluntary departures, its regional chief executive said yesterday.
BEC union sticks to ‘Miller out’ demand
Deputy Prime Minister Philip Davis said yesterday he was “satisfied” that last Friday’s island-wide black-out was not a result of Bahamas Electricity Corporation (BEC) employee negligence, effectively refuting previous comments by chairman Leslie Miller.
Sports Authority refutes contract ‘nepotism’ claim
Top National Sports Authority (NSA) executives yesterday vehemently denied allegations that the awarding of a five-figure maintenance contract for the Sports Centre’s swimming pool was influenced by nepotism.
Breezes to ‘vigorously press’ Baha Mar appeal
Attorneys for SuperClubs Breezes yesterday pledged to “vigorously press” for a quick hearing of its appeal against the Supreme Court’s refusal to grant a construction-stopping injunction that would halt work on Baha Mar’s $3.5 billion project.
Businesses call for blackout ‘outrage’
New Providence business owners yesterday said that last Friday’s island-wide black-out cost them thousands of dollars in lost sales, describing the situation as “extremely discouraging” and “unacceptable”.
Freeport predicts more VAT ‘to-ing and fro-ing’
Freeport will continue to see “a lot of to-ing and fro-ing” over Value-Added Tax (VAT), a top private sector executive predicted yesterday, as all sides attempt to ensure the new tax conforms with the Hawksbill Creek Agreement.
BOB shareholders say web shop deposits ‘no problem’
Two outspoken Bank of the Bahamas shareholders yesterday said they had no objection to it accepting deposits from a legalised web shop gaming industry, and questioned why other Bahamian institutions were not following its lead.
FNM deputy: Governance concerns over BOB web shop deposit acceptance
Bank of the Bahamas’ (BOB) decision to accept deposits from legalised web shop operators despite the resistance of its counterparts only raises more questions over its governance, the Opposition’s deputy leader said yesterday.
BEC unions: No support for reform with Miller
The Bahamas Electricity Corporation’s (BEC) line worker union yesterday said it would not support its restructuring until the Government removed Leslie Miller as chairman, slamming his decision to blame staff for last week’s outage as “absolute foolishness”.
‘No way on God’s green earth’ can Gov’t operate NHI
There is “no way on God’s green earth” that the Government can hope to run an efficient National Health Insurance (NHI) system given its “disastrous” track record, an outspoken businessman has warned.
Tourism ‘upswing’: Nassau/PI in 12% Internet demand surge
A 12 per cent surge in Internet search demand for Nassau/Paradise Island is leading top hotel officials to conclude “tourism is on an upswing”, with the capital the most sought-after vacation destination in the Caribbean.
Private sector fears BEC reform process being compromised
The private sector fears the Government may have compromised the integrity of the Bahamas Electricity Corporation (BEC) reform process by renewing contacts with groups that either did not participate or were rejected from the bidding at an early stage.
Water Corp slashes receivables by 50%
The Water & Sewerage Corporation slashed the near-$14 million receivables owed to BISX-listed Consolidated Water by almost 50 per cent during 2014, it has been revealed.
Foreigners seek JVs with Bahamas web shop firms
Web shop gaming operators are already being approached to joint venture with foreign companies in overseas jurisdictions, a well-known QC suggesting the sector can be “a major Bahamian export”.
