Building permit revenue off 44%
The Government’s building permit revenues under-shot projections for the 2012-2013 half-year by 43.7 per cent, the Deputy Prime Minister indicating that fees were set to increase to match service costs.
BEC union digs heels in on pensions, insurance
THE Bahamas Electricity Corporation (BEC) and the trade union representing its line staff once again appear on collision course, with the latter saying its members are opposed to contributing to their own pension plans and health insurance scheme.
‘Major revisions’ sought over Commission’s records draft
“Significant revisions” are being sought to the Securities Commission’s draft guidelines on maintaining accounting records, with Bahamian financial providers fearing they currently place the industry “at a competitive disadvantage”.
Water Corp receives extra $9.7M subsidy
The Government has approved a further $9.7 million subsidy for the Water & Sewerage Corporation for the 2012-2013 fiscal year, with collections from customers down 17 per cent in last year’s second half.
Oil recovery plant facing two rivals
THE first phase of a Freeport-based hydrocarbon recovery plant will be operational by mid-2013, the Grand Bahama Port Authority’s chairman adding that Morgan Oil faced competition from two rival entities seeking to enter the business.
CHAMBER VOICE: Maximising e-commerce for business opportunities
It is 2013, and because the world has changed the way we do business must as well.
Bahamasair seeks additional $11.2M
Bahamasair needs an additional $11.2 million taxpayer subsidy to get it through the 2012-2013 fiscal year, the national flag carrier having seen its half-year net loss increase by 19.4 per cent year-over-year.
Communications sector 'outpaces' regulations
THE Bahamas’ communications sector has “outpaced” its current regulatory framework, a senior Bahamas Telecommunications Company (BTC) executive arguing that some rules under the current regime were “too prohibitive” and “not facilitating growth”.
Bahamas targets financial services Excellence Centre
The Government is aiming to create opportunities for Bahamians that will enable them “to grow beyond the Bahamas” and compete globally, a Cabinet minister has said,
PM embarking on treasure 'Odyssey'
A “world leader” in shipwreck salvaging, which was recently featured in a Discovery Channel documentary, is negotiating with the Government over conducting treasure-hunting exploration in Bahamian waters, it has confirmed to Tribune Business.
GB Power to'start burning gas by 2014'
GRAND BAHAMA Power Company yesterday pledged to start “burning compressed natural gas by 2014”, its chief executive calling for support from the industrial sector and other Bahmian islands in a bid to raise volumes to the point where energy costs could be significantly slashed.
Work permit proposals 'not firm policy'
A Cabinet Minister yesterday sought to “clarify” the seemingly new hard-line work permit stance, telling Tribune Business it was “not a firm policy” and no final decision on it had been taken by the Government.
$19m Downtown incentives Act to be extended
A Cabinet Minister yesterday told Tribune Business he “firmly believes” the City of Nassau Revitalisation Act will be extended beyond its end-June expiry, noting that to-date it had underpinned $18.8 million in tax concessions given to over $36 million in investment projects.
Freeport now 'worth $11bn'
The total infrastructure investment in Freeport today is worth $11 billion, the Grand Bahama Port Authority’s (GBPA) chairman yesterday saying this exceeded annual Bahamian GDP and “could not be replicated.
'Stroke of genius' cuts Gov'ts GB subsidy 60%
The Government will be able to cut its annual $18 million subsidy of Grand Bahama’s tourism industry by 60 per cent through the Reef Village re-opening, a Cabinet minister yesterday describing the deal as “some stroke of genius”.
