Construction chief backs ‘Contractor General’ call
THE Bahamian Contractor’s Association’s (BCA) president yesterday backed the Constitutional Commission’s call to create the Office of the Contractor General, suggesting it would help ensure ‘fair play’ in the awarding of government contracts.
Firms report strong Independence sales
NASSAU-based businesses are reporting heavy demand and strong sales of Independence gear, accessories and paraphernalia leading up to the country’s 40th anniversary tomorrow.
$165k award 'could not be better timed' for ex-Pioneer staff
A $165,000-plus award of past due redundancy pay “could not have come at a better time” for nine former Pioneer Shipping employees, following a “very significant” Court of Appeal ruling.
Bank's capital injection to 'eliminate' $18.5m bonds
Bank of the Bahamas International will use a substantial equity capital injection by its majority shareholder to eliminate $18.5 million worth of debt securities, as it “remodels” its balance sheet to meet international regulatory requirements and domestic economy stresses.
Private sector facing 'tsunami'
Bahamian businesses are facing “a tsunami” in the form of various reforms that will hit them “all at once”, a leading accountant warning this will dampen prospects for reducing unemployment.
Port urged to again be sole Freeport licensor
A well-known QC has called on the Grand Bahama Port Authority (GBPA) to again become the sole licensor of all Freeport-based businesses, following claims that a $5 million medical facility began operations in the city without proper regulation.
Aviation taxes 'close door' on Out Islands
A Bahamian airline chief has warned the Government its new aviation taxes are “closing the door” to Family Island economic development, with the sector now watching “with bated breath” to see if it reverses course.
Contractor chief disappointed on course turnout
While the response had not been poor, the Bahamian Contractors Association’s (BCA) president admitted he was a bit disappointed over how many industry participants had taken advantage it certification course,
Crystal Palace casino 'violated' staff handbook
Baha Mar’s casino affiliate breached its own employee handbook and failed to carry out a proper investigation in dismissing a 22-year veteran, the Court of Appeal has found.
BISX Index rebound signals market revival
The BISX All-Share Index’s 3.24 per cent improvement for the 2013 first quarter provides further evidence of a timid Bahamian stock market recovery, as market capitalisation rebounded to $2.963 billion.
Insurer gives laptops to Center for the Deaf
NAGICO Insurance (Bahamas) has donated two laptops to The Centre for the Deaf to replace non-functioning machines.
Giants' push FOCOL gas station purchase
FOCOL Holdings’ largest shareholder has described its $2.918 million purchase of a Freeport gas station as “a significant acquisition”, emphasising the company cannot “stand still” when competing against multinational giants.
Insurance newcomer in Hunger donation
As part of its official launch, NAGICO Insurance (Bahamas) donated $3,500 to Hands for Hunger.
Airline cutback's threat to 1.8m stopover plans
TOURISM Minister Obie Wilchcombe said he was extremely concerned that the Bahamas might lose tourism business due to US airline cutbacks, given that this nation was still trying to rebound to its 1.8 million pre-recession stopover numbers.
Banks face 169% tax burden rise
The Bahamian commercial banking is facing an estimated 169 per cent increase in its total tax burden to $43 million, Tribune Business can reveal, a development that could result in further lending and economic contractions.
