Bay Street merchants ‘overcharging’ tourists
BAY Street merchants have been accused by The Bahamas’ consumer protection watchdog of overcharging cruise ship passengers and other tourists on their credit card purchases
GB to Abaco power cable ‘doable’ but more needed
THE Grand Bahama Chamber of Commerce president says supplying power from the island to Abaco via an undersea electricity cable is “doable” but more details are required on the initiative.
FINCO chief: 95% of local transactions done digitally
RBC FINCO’s top executive says Bahamians are beginning to embrace a digital future with 95 percent now conducting their financial transactions electronically.
DPM: ‘Three credible offers’ for Lucayan
Three “credible offers” to acquire the Grand Lucayan resort are presently being studied, the deputy prime minister said yesterday, as he and others touted $1bn worth of investments being “in the pipeline” for Grand Bahama.
‘Air cargo hub’ ambition for GB’s $200m airport
The deputy prime minister yesterday unveiled a $200m Grand Bahama International Airport redevelopment that aims to ultimately transform the facility into an international “air cargo hub” for the Caribbean and Latin America.
Property value boost drives insurer’s 39% profit increase
A $3.2m gain from revaluing its property assets enabled Bahamas First to shrug off a decline in its core insurance underwriting business and post a 39 percent total comprehensive income increase for the 2022 full-year.
Port chief eyeing Abaco power cable connection
The Grand Bahama Port Authority’s (GBPA) president yesterday suggested running an electricity cable between his island and Abaco as a way to “stabilise” electricity costs and bring rates down.
$200m airport deal means GB ‘not dead in the water’
A prominent Freeport attorney yesterday hailed the “lifeline” provided by Grand Bahama airport’s imminent $200m redevelopment, saying: “We’d be doubly dead in the water without it.”
IAN FERGUSON: Navigating through five life cycle stages
Every new micro and small business that grows into a medium-sized enterprise goes through five stages of evolution. These phases include existence, survival, success, take-off and resource maturity. All stages of small business growth come with challenges that every company has to overcome.
Atlantis, cruise port: ‘Room’ for PI lighthouse restoration
Atlantis and the Nassau Cruise Port both say there is “room” for a restored Paradise Island lighthouse to provide an “iconic” visitor experience and boost New Providence’s status as a tourism destination.
Kwasi Thompson: IMF holds ‘serious concern’ on fiscal reforms
The Opposition’s finance spokesman yesterday asserted that the International Monetary Fund (IMF) had voiced “serious concerns” over legal reforms that seemingly reduce the Fiscal Responsibility Council’s (FRC) independence.
Gov’ts Central Bank debt soars 85% on IMF SDRs
The Government’s controversial borrowing of IMF special drawing rights (SDRs) reversed five years of decline by causing its net debt to the Central Bank to soar by 85.4 percent to $805.6m.
New Procurement Act to end large firm ‘dominance’
The Prime Minister yesterday said the Government’s digital procurement platform has generated $2.6m savings in just four months since its launch as he slammed his predecessors for giving large firms “dominance” in contract awards.
Sir Franklyn: Gas woe ‘won’t cripple country’
FOCOL’s chairman yesterday said he was “very confident a solution will be found” to the Bahamian petroleum industry’s financial woes, and added: “This will not be fatal to the country.”
PM: Halting gov’t waste remains ‘a high priority’
THE PRIME Minister yesterday pledged that eliminating waste of taxpayer monies is a “high priority” while blasting legislation passed under the former Minnis administration as “unworkable”.
