Energy subsidies cost Bahamas 1% of GDP
The Bahamas is giving away a sum equivalent to 1 percentage point of gross domestic product (GDP) in pre-tax subsidies to its petroleum and energy sectors, the second-highest number among Caribbean oil importers.
Local Benetton stores re-brand
BENETTON (BAHAMAS) is set to re-brand its stores and launch a new multi-branded clothing boutique this April, after the billion-dollar Italian clothing giant closed retail locations in North America, Canada and the Caribbean as part of a major restructuring to improve profitability.
Bahamas urged: ‘Don’t spook clients’ on HSBC
The Bahamas must be careful “not to spook” its high net worth clients over last week’s HSBC revelations, with politicians, businessmen and ex-ministers united in their call: “Don’t assume the worst.”
Digicel: Local ownership no business ‘limit’
Digicel would not have bid on the second mobile licence if it was unhappy with the Government’s insistence that the winner be 51 per cent majority Bahamian-owned, a senior executive saying it did not see this condition as “limiting”.
FINCO profits slump 91.4%
Finance Corporation of the Bahamas (FINCO) saw its profits slump 91.4 per cent for the year ending October 31, 2014, primarily due to a more than four-fold increase in loan loss provisioning to $35.595 million.
Bidder: Mobile licence process is ‘world class’
A leading contender for the Bahamas’ second cellular licence has described the bidding process as “world class”, and among the best of 50 such exercises he has been involved in.
Digicel aiming to be ‘full service provider’
Digicel will ultimately become a “full service provider” in the Bahamian communications market if it wins the second cellular licence, as it attacks this process with “full gusto”.
BTC mobile towers require $20k co-location upgrade
A senior Digicel executive has bemoaned the failure to design existing Bahamian cell phone towers for co-usage, suggesting it will cost $20,000 per location to modify them.
Digicel: ‘We’ll cross union bridge when we reach it’
Digicel is unconcerned about trade union hostility towards its bid for the Bahamas’ second cellular licence, a senior executive telling Tribune Business: “We’ll cross that bridge when we come to it.”
Exuma developer hits ‘warp speed’
A major Exuma project yesterday said it is hitting “warp speed” with its development plans, amid talks likely to result in it handing 150 acres to the Government for Georgetown’s redevelopment.
‘Far too premature’ for PM to claim VAT success
A well-known businessman yesterday said it was “far too premature” for the Prime Minister to boast about Value-Added Tax (VAT) being successful, accusing him of “gloating” over the hundreds of millions of dollars the tax will suck out of the Bahamian economy.
Bahamian group joins Virgin Mobile offer
A Bahamian-led group that previously made no secret of its intentions to bid on this nation’s second cellular licence appears to have become part of the Virgin Mobile (Bahamas) group, Tribune Business can reveal.
BEC decision: ‘Time for fat lady to sing’
A senior private sector executive yesterday urged the Government to finally make a decision on the Bahamas Electricity Corporation’s (BEC) reform, adding: “It’s time for the fat lady to sing.”
BAIC admits failing to promote tenants
THE Bahamas Agricultural & Industrial Corporation’s (BAIC) newly-appointed executive chairman said yesterday that it was willing to work with Soldier Road Industrial Park tenants who were making efforts to meet their rental obligations, admitting the Corporation had not done much to promote their businesses.
IAN FERGUSON: Methods for worker conflict resolution
This week I was reminded by a colleague that we spend as many as 45 of our weekly waking hours with the people we work with. This represents a sizeable percentage of the total number of hours we have during the course of a week, even sometimes surpassing the time we spend with our own families and dear ones.
