BEC pollution liability 'could be over $100m'
The successful bidder(s) for the Bahamas Electricity Corporation (BEC) will inherit potentially massive environmental liabilities, it was revealed yesterday, in addition to a $350 million debt mountain and $81 million employee pension fund deficit.
BEC region's worst on client complaints
The Bahamas Electricity Corporation’s (BEC) 109 complaints per 1,000 customers are triple those for any other Caribbean utility, with the energy monopoly among the region’s worst in other key categories.
Port: Ease of business ranking 'slap in face'
THE NASSAU Container Port’s (NCP) operator said yesterday it was a “slap in the face” for the World Bank to determine that it took 13 days to import goods into the Bahamas through it.
Smuggling rise 'destabilising' liquor market
Commonwealth Brewery yesterday expressed concern that alcohol smuggling into the Bahamas had increased year-over-year, a development that threatened to “destabilise” the market and pricing for legitimate operators.
CIBC subpoenaed for City Markets pension records
CIBC FirstCaribbean International Bank (Bahamas) has been subpoenaed by attorneys acting for several former City Markets employees to produce all financial records relating to the defunct supermarket chain’s pension plan, Tribune Business can reveal.
Baha Mar set to 'blow lid off' Port volume
THE Nassau Container Port’s operator yesterday said it was expecting the $2.6 billion Baha Mar development to “blow the lid off” container throughput volumes over the next 12 months.
Port's 50% discounts to boost Out Island shipping
SMALL Bahamian shipping companies are being offered port charges disciunts of up to 50 per cent, the Arawak Port Development (APD) Company’s chief executive telling Tribune Business the incentives would facilitate Family Island shipping and sustain Bahamian operators.
'Universal service' for Out Islands post BEC restructuring
New Providence will still have to effectively subsidise the Family Islands even after the Bahamas Electricity Corporation (BEC) is split into two, with the latter’s existing power costs already some 26 per cent higher.
SUN Oil hosts LPG safety workshop
Sun Oil Ltd hosted a liquefied petroleum gas (LPG) Safety Workshop conducted by US propane distributor, Targa Resources.
Cape Santa Maria staff attend service workshop
The Bahamas Hotel and Tourism Association (BHTA) worked with the sector’s human resources professionals to stage a half-day workshop for staff at Long Island’s Cape Santa Maria Resort.
VAT sanctions expose 'absurd' double standard
The Tax Coalition’s co-chairman yesterday blasted the proposed sanctions for Value-Added Tax (VAT) non-compliance as exposing an “absurd” double standard, warning the Government it was placing “undue pressure on the private sector”.
Satellite Bahamas, principals seek US court 'protection'
Satellite Bahamas and its principals, the Garraway brothers, are seeking US court “protection” to stay DIRECTV’s discovery demands, which are seeking a list of all clients it allegedly provided ‘pirated’ services to.
Real estate derailed if VAT 'goes terribly'
The Bahamian real estate market is “definitely on an upswing” with inquiry volumes up 10-20 per cent, a leading realtor said yesterday, while warning that 2014’s positive outlook could be derailed if Value-Added Tax (VAT) implementation “goes terribly”.
BTC union fears over CWC's $100m cost saving drive
THE UNION representing Bahamas Telecommunications Company (BTC) line staff said yesterday it was “extremely concerned” about the potential impact its majority shareholder’s $100 million cost savings push will have on jobs, warning it would “not sit idle and let them do what they want”.
Realtor ends Love Beach 'retreat'
A former Bahamas Real Estate Association (BREA) president yesterday said altering his business model was yielding signs of positive results, after ending a two-year “retreat” to his home office at Love Beach.
