CCA: Baha Mar only $68m over its budget
Baha Mar’s main contractor is asserting it went just 3 percent over-budget in completing the mega resort as it makes a last-ditch bid to slash Sarkis Izmirlian’s damages claim by $830m.
Minister: Gov’ts LNG SPV will lower costs
The Government’s decision to act as liquefied natural gas (LNG) middleman will drive lower fuel and energy costs through leveraging economies of scale, a Cabinet minister is asserting.
FNM chair says $30m for BPL’s grid ‘national steal’
Enabling private investors to acquire majority control of New Providence’s electricity grid for just an initial $30m equity capital investment has been branded “a hell of a deal” by the Opposition’s chairman.
Smuggling racket claim ‘baseless and groundless’
CUSTOMS’ top official has slammed as “baseless and groundless nonsense” allegations that senior officials with the agency and Ministry of Finance were involved in an illicit alcohol smuggling racket.
650 jobs to fill at $290m hospital
Flooding risks are “a great concern” for New Providence’s new hospital which will need a 650-strong medical staff to care for the anticipated 400 patients it is set to house daily.
Chamber warns on energy cost increase for ‘most businesses’
The Chamber of Commerce yesterday joined those voicing concern that Bahamas Power & Light’s (BPL) new rate structure will fuel more price increases by raising energy costs for “most businesses”.
Minister defends ‘single source’ bid process for FOCOL affiliate
A Cabinet minister yesterday rejected assertions that the Government’s energy reforms violated procurement laws as she defended the “single source” bidding used to select a FOCOL Holdings affiliate.
Double rooms by 15,000 to stay ‘Caribbean leader’
The deputy prime minister yesterday said The Bahamas needs to double its capacity by adding 15,000 new hotel rooms over the next decade if it is to “remain the undisputed leader” in Caribbean tourism.
Illegal fisheries landing halt to spark 1,500 jobs boost
Bahamian economic output would expand by a further $65m, helping to create more than 1,500 jobs, if the largest categories of illegal and unreported fishing were converted into lawful landings.
Homeowner: They won’t Wynn ‘war of attrition’
The leading opponent of a 14-storey Goodman’s Bay penthouse project yesterday pledged he will not be ground down by the developer’s “war of attrition” and forced into selling his home.
Minnis challenging PM over Customs probe into ‘high ups’
Dr Hubert Minnis last night challenged the Prime Minister to reveal the findings of a probe into alleged smuggling involving senior Customs and Finance officials which has been “swept under the table”.
Businesses voice concern on new BPL rate structure
CONCERNS were voiced yesterday that Bahamas Power & Light’s (BPL) new rate structure could undermine economic competitiveness and increase inflation by raising energy costs for many businesses.
Revenues outpace $50m spending jump for April
THE Government yesterday unveiled a $36.2m fiscal surplus for April 2024 after a 29.7 percent year-over-year revenue increase outpaced a $50.3m jump in spending.
Grid handover for 40 percent
The government is set to hand over New Providence’s electricity grid to a private company in return for a 40 percent ownership interest in that entity, Tribune Business can reveal.
URCA: ‘No involvement’ in new BPL rate structure
THE Bahamian energy industry regulator yesterday said it had “no involvement” in developing Bahamas Power & Light’s (BPL) new rate structure that takes effect from July 1.
