Businesses blast Grand Bahama Power fuel charge hike
GRAND Bahama Power Company’s (GBPC) impending fuel charge increase was yesterday branded “disgraceful” by one businessman although the move came as little surprise.
No sanctions over price control ‘death warrant’ execution
The Government last night backed down from imposing sanctions on food retailers and pharmacists who fail to enact the expanded price control regime - which one branded “a death warrant” - by today’s deadline.
The Bahamas’ top two life insurers downgraded
The Bahamas must “take concrete steps” to reverse the trend of sovereign credit rating downgrades after the country’s two largest life and health insurers saw their own financial strength assessments slashed as a result.
Union chief says: ‘Don’t encourage mediocrity’
A trade union leader says the labour movement “must not encourage mediocrity” in the workplace as he urged patience when over trying to achieve all goals in industrial negotiations.
Grand Bahama electricity costs 40% below rest of Bahamas
Grand Bahama’s electricity costs will be 40 percent lower than Nassau’s and the rest of The Bahamas during the 2023 summer peak after the island’s utility locked in fuel costs at 12-14 cents per kilowatt hour (kWh).
HUBERT EDWARDS: Missing the mark on our economic dignity
From a regional perspective, the mission of getting Caribbean countries to a position of economic sustainability and resilience will demand national innovation, productive creativity and a herculean effort on prudent fiscal management. It will also require an unfailing commitment to delivering value across the broadest socio-economic divides that these countries have ever experienced, and a radical cultural shift at multiple levels.
Bahamas promoted to Carolina investors
THE Ministry of Tourism, Investments and Aviation will continue to promote The Bahamas to potential tourists and investors through a series of events in North Carolina this week.
Price control expansion
A FOOD store retailer says The Bahamas is becoming “a dictatorship” after the Government sought to expand the price control regime to a further 38 products without industry consultation.
Hotels give ‘strong support’ on minimum wage increase
BAHAMIAN hotel and restaurant employers yesterday gave “strong support” to the Government’s minimum wage increase while voicing relief that both they and employees finally have clarity on the issue.
‘More latitude’ on lower value contract awards
Governance reformers say the proposed new procurement law grants “more latitude” to ministers and officials in approving higher value contracts that do not have to go before Cabinet.
Main Street versus Wall Street
ActivTrades
We are living through a phase of divergence between the interests of the real economy and those of investors in the financial markets. What is good for Wall Street is bad for main street, and vice versa. This dissociation between our everyday lives and those of high-flying investors is bad for the reputation of the markets, exacerbating the resentment of those who believe that a global elite is taking everyone else for a ride.
Long Island cruise port build-out to hit $500m
The developer behind the planned Long Island cruise port has committed to employing a workforce that is a minimum 80 percent Bahamian for a project where the total investment could exceed $500m.
Food stores ‘up in arms’ on price control details
Food stores throughout The Bahamas were yesterday said to be “up in arms” over the details of the Government’s expanded price control regime amid fears it will “devastate” the industry and jobs for hundreds of workers.
Pharmacists ‘blindsided’ over Gov’t price control
The Bahamas Pharmaceutical Association’s (BPA) president yesterday revealed the industry has been “blindsided” by the Government’s imposition of price-controlled mark-ups that could force smaller operators to close.
Proven competition: Jamaica group targets Bahamas move
Bahamian financial providers were yesterday told to “prepare themselves” for increased competition after a prominent Jamaican group with over $1bn in total assets unveiled plans to establish a physical presence here.
