Banks not ‘betting against economy’
Top bankers yesterday rejected the Prime Minister’s assertion that they are “betting against The Bahamas’ economy” after it was revealed that a recent bond issue was just 40 percent subscribed.
BPL scrubbed 5,000 vendors due to fraud
Bahamas Power & Light (BPL) scrubbed some 5,000 suppliers from its vendor database in response to the $1.9m “fraudulent cheques” scam that relied heavily on non-existent companies.
Lightning strike adds to hotel’s $3m supply woe
A prominent Grand Bahama hotel yesterday said its $3m room renovation has fallen victim to global supply chain disruption with a recent “lightning strike” creating further complications.
Regulator loses $116k roof repairs strike-out
The Central Bank’s bid to strike out a Bahamian contractor’s $116,000 claim for breach of contract relating to roof repairs has been rejected by a Supreme Court judge.
Sale of Doctors’ new GB home in November close
The sale of Doctors Hospital’s new Freeport home will represent the final asset disposal for a former BISX-listed company when it completes next month, Tribune Business can reveal.
BPL chief had to deal with rogue purchases
Bahamas Power & Light’s (BPL) chief executive dealt with “a significant issue” by warning staff they faced termination if goods and services were purchased outside established protocols.
Activist slams climate hypocrisy on oil drilling
An environmental activist yesterday accused slams the Government of hypocrisy for its stance on oil exploration ahead of the upcoming global climate change summit.
Chamber director calls for end to Shell talks
A Chamber of Commerce director yesterday urged the Government to move on from Bahamas Power & Light’s (BPL) talks with Shell and seek alternative options.
Minister optimistic on growing employment
A Cabinet minister yesterday said he is optimistic that more Bahamians are being recalled to work ahead of the furlough period’s December 13 end.
BPL’s Shell deal process ‘oblique’
Bahamas Power & Light’s (BPL) efforts to outsource electricity generation on New Providence were “oblique” and not fully transparent over a deal ultimately won by Shell North America.
$2m BPL microgrid winner’s deal offload
The winning bidder to develop Ragged Island’s $2m solar microgrid, on the same day it signed the deal with BPL, assigned all project rights to an entity that failed to make the final tender round.
Ex-minister: Extra $90m shows our policies working
An ex-Cabinet minister yesterday urged the Government to build on “the positive trend and headroom” left by the Minnis administration after revenues exceeded their first quarter target by $90m.
Atlantis confirms Coral re-opening
The hotel union’s president last night said the impact from Atlantis’ plan to re-open the Coral Towers in November will be determined by the number of employees recalled to work.
Pirate-themed operator eyes 250-job destination
A Bahamian entrepreneur yesterday said he is seeking government support to create a new excursion destination that could generate up to 250 jobs and “significant opportunities” for Bahamians.
Gov’t $90m ahead of revenue target
The Government beat its 2021-2022 first quarter revenue targets by $90m, a top official has revealed, while also disclosing that the Government’s revised Budget will not increase the deficit.
