Nassau ‘running low’ on cement supplies
New Providence is “running very low” on cement supplies due to a combination of shipping delays and surging post-COVID construction activity, merchants disclosed yesterday.
Sanctions letters for 11 registered agents
The government has issued sanctions warnings to 11 financial services providers for failing to supply beneficial ownership details on corporate entities they act for, the attorney general revealed yesterday.
‘Get creative’ over govt debt aversion
The government was yesterday urged to “become more creative” in the Bahamian debt markets as traditional purchasers of its bonds increasingly reject long-term paper due to the mounting fiscal crisis.
Minister’s cargo hub plans for GB airport
Establishing the city of Freeport as an air cargo transshipment hub could generate the extra income required to make its rebuild attractive to private capital and operators/developers, a Cabinet minister said yesterday.
Minister: ‘No favours’ to payment provider
A Cabinet minister yesterday asserted that “no special favours” were involved in hiring a digital payments provider to handle the health travel via fees generated by tourism’s COVID-19 re-opening.
Shipyard’s ‘really big deal’: Can be 30% of GB output
A top hotelier yesterday hailed the planned $350m investment in the Grand Bahama Shipyard as “a really big deal” that could result in the facility generating up to 30 percent of the island’s economic output.
Melia closure’s $5m potential hit for bank
A BISX-listed bank has revealed that a major Nassau-based resort’s decision to close for two years has placed more than $5m worth of outstanding loans in potential default.
Procurement reform hit by resistance to change
It was not my intention to write another article until the end of September, as I wanted to give the government the benefit of the doubt regarding its self-imposed September 1, 2021, timeline for when the Public Procurement Act will take effect. However, on Monday, the prime minister during his closing remarks in the budget debate referred to me publicly by warning that “if you push me enough” the details of my personal files when I was employed at the Royal Bahamas Defence Force (RBDF) and the Ministry of Health will be revealed.
Regulator disputes Cabbage Beach ‘no permits’ assertion
A senior government official yesterday disputed assertions by the Ocean Club’s owner that it did not require permits to begin clearing the property at the heart of last week’s Cabbage Beach dispute.
Over the Hill tax-free zone in mixed review
Businesses yesterday cited uncertainty, confusion and lack of information as to why they are not taking advantage of the Over the Hill Tax Free Zone (OHTFZ) incentives.
Oil opponents bid to end legal roadblock
Oil exploration opponents have offered to pay $100,000 to the former Bahamas Petroleum Company’s (BPC) attorneys, and narrow the scope of their Judicial Review, in a bid to remove all legal roadblocks.
QC lashes out on KYC ‘constipation’
An outspoken QC last night warned that “Know Your Customer (KYC) constipation” could undermine The Bahamas’ post-COVID revival, arguing that his law firm’s struggle to open a joint bank account “beggars belief”.
Govt revenues $127m up on budget forecast to May
A Cabinet minister yesterday defended the government’s forecasts for the upcoming fiscal year by revealing that its revenues had exceeded projections by almost $127m over the past six months.
Fishermen brace for legal fight to hit Privy Council
Fishermen in favour of the Fisheries Act’s bar on foreign workers yesterday said they were bracing for legal challenges to the reforms to go all the way to the London-based Privy Council.
Improving worker productivity ‘must be our top priority’
The National Tripartite Council’s (NTC) chairman says improving the Bahamian workforce’s productivity “has to be the number one priority” as the latest effort to eliminate workforce skills gaps launched yesterday.
