Water Corp’s debt to top provider slashed by $5m
THE MAIN water provider for the Water & Sewerage Corporation’s New Providence customers yesterday revealed that the debt owed by the latter was slashed by more than $5m or 21.4 percent during the three months to end-June 2026.
Ex-Club Med site’s $200m revival eyes mid-2027 start
THE DEVELOPER bidding to revive Eleuthera’s former Club Med property is targeting a mid-2027 construction start for the $200m-$250m project featuring a boutique hotel and 100 residences.
BPL barrier to ‘banking’ $210m energy savings
The Bahamas cannot “bank” the projected $210m annual savings from the Government’s energy reforms without further structural changes at Bahamas Power & Light (BPL) to make private investment in the industry more appealing, a multilateral lender is warning.
Private aviation fear over new retroactive, triple digit fee hikes
The Bahamas’ standing as a “must go to” destination faces “damage” from efforts to impose retroactive triple-digit fee hikes on private pilots and general aviation operators who travelled to this nation after May 1, 2021, industry executives are warning.
Judge: ‘Clean hands’ absent over $10m tax sale challenge
The two companies that hold the former Ginn project’s real estate assets have vehemently rejected a Supreme Court judge’s findings that they “do not come with clean hands” in their challenge to the sale of 1,143 acres over almost $10m in allegedly unpaid tax arrears.
Administrator ordered for Briland firm’s booking site
A Supreme Court judge has ordered the appointment of an “independent administrator” over the booking platform of a Briland tourism operator at the centre of a furious legal battle involving claims of ‘fronting’ and $1m in unpaid Bahamian taxes.
FOCOL and Shell hire LNG operation partner
FOCOL Holdings and Shell have hired px Group as operations and maintenance partner for the $500m Clifton Pier liquefied natural gas (LNG) regasification terminal that will play a key role in delivering cheaper, cleaner energy for New Providence.
Water Corp wellfield upgrades target $2m annual user savings
The Water and Sewerage Corporation (WSC) yesterday said it has saved customers $5m over the past three years through improvements and upgrades to western New Providence’s Windsor wellfields.
Emera suffers $15m loss on exit from GB Power
Grand Bahama Power Company’s former owner says it incurred a $15m gross loss on selling 100 percent ownership of the utility to the Government.
Transport unions differ on airport dispute ‘deal’
THE Bahamas Taxi Cab Union’s (BTCU) president yesterday unveiled a two-week trial aimed at easing the long-running dispute between his members and livery operators at Lynden Pindling International Airport (LPIA). The move is set to begin today but the livery drivers union said no agreement has been reached.
Straw Market vendors hope cool-off boosts tourist sales
THE Government has confirmed that long-promised cooling units for Nassau’s Downtown Straw Market have arrived on-island, with plans underway to install and activate them in a bid to improve the ambience for clients and boost vendor sales.
Doctors: NHI expansion must be matched by sustainability
Doctors are warning that National Health Insurance’s (NHI) continuing expansion without first ensuring its financial sustainability could ultimately drive providers away and undermine treatment quality provided by the Government’s flagship initiative.
‘Mexican stand-off’ at Old Bahama Bay
THE WARRING Old Bahama Bay parties were last night said to be locked “in a Mexican stand-off” with efforts to repossess the resort described as “in the process” and yet to successfully conclude.
Concern safeguards made ‘meaningless’ in Investment Fund $265m draw down
THE GOVERNMENT appears to have moved more than $265m out of the National Investment Fund (NIF) without explaining why, or what the funds were used for, with the Opposition charging that “Parliament's safeguards” are being rendered “meaningless”.
FDI inflows set to jump 62% in next two years
NET foreign direct investment (FDI) inflows into the Bahamian economy are forecast to increase by 62.2 percent over the next two years, the Inter-American Development Bank (IDB) has revealed, although it voiced warnings over a “structural shift” favouring cruise tourism.
