Parts of BPL network ‘not working optimally’
Bahamas Power & Light’s (BPL) chairman yesterday disclosed that parts of its grid “are not working optimally” due to the utility’s delayed $535m bond refinancing.
'Devastating' if COVID-19 finds its way to Exuma
Exuma’s Chamber of Commerce chief has warned it will be “devastating” for business and consumer confidence if the border re-opening brings COVID-19 to the island. Pedro Rolle told Tribune Business in a recent interview that many residents remained n
Trading volumes 'vital' to $3.6bn Gov't debt listing
Bahamian financial analysts yesterday said trading volumes will be “the critical factor” when $3.6bn in government bonds begin trading on the stock exchange today. Larry Gibson, vice-president of Colonial Pension Services (Bahamas), told Tribune Bus
Retailers reveal slow Independence sales
Retailers yesterday revealed sluggish Independence Day sales due to the continuing economic fall-out and uncertainty caused by COVID-19. Pedro Neely, owner of PC Smart Tees, told Tribune Business this was his first year of operations “but we’re tryi
Laying out the roadmap for economic resilience
The Bahamas highlighted its response to the COVID-19 crisis with a budget styled as Resilient Bahamas: A plan for restoration. Its three stated aims are to protect the well-being, and engender confidence, of citizens and residents; maintain economic
Sandyport resort confirms opening
Sandyport Beach Resort has confirmed its post-COVID-19 re-opening after its ‘Clean and Pristine’ plan was certified by the Ministry of Health. Cheralda Arnett, its assistant general manager, said: “We put a lot of thought into our safety measures fo
BREAA: Illegal foreign broker fight top priority
The Bahamas Real Estate Association’s (BRWA) newly-elected president has pledged to make the fight against illegal sales by foreign brokers her top priority.Christine Wallace-Whitfield, the first woman to serve a record fourth term as BREA president,
Bahamian attorney is STEP's world-leader
A Bahamian attorney has won the Society of Trust Estate Practitioners (STEP) Excellence Award after achieving a world-leading score in its exam.Nateisha Bain, a real estate attorney with Lennox Paton, obtained 2019’s highest score across in passing t
Bahamians are urged to 'acquire taste' for apps
Bahamians were yesterday urged to “acquire a taste for app development” and go beyond simple flyer promotions on Facebook or What’s App.Sherwin Johnson, president of Evo Bahamas, developer of the Bahamas Nightlife app, told Tribune Business: “App dev
Fusion Superplex: 'We'll be back despite north of $6m loss'
The Fusion Superplex yesterday revealed it has “lost north of $6m” in revenues due to its COVID-19 enforced closure, but pledged: “We’ll definitely be back.” Carlos Foulkes, the cinema and entertainment complex’s chief executive, told Tribune Busine
Banker: Put homes above life's luxuries
Bahamians must stop prioritising luxury goods, a top banker urged yesterday, with home ownership set to take a “tremendous blow” in the next year due to COVID-19. Gowon Bowe, Fidelity Bank (Bahamas) chief financial officer, told a webinar organised
Realtor 'bombed' by buyer interest surge
A prominent Bahamian realtor yesterday said he is “getting bombed” by a surge in buyer interest and visits that has taken him by surprise since the borders opened.Peter Dupuch, founder and president of ERA Dupuch Real Estate, told Tribune Business th
Dorian forces insurer into first-ever reserve release
A Bahamian insurer yesterday revealed it made the first-ever “catastrophe reserves” release in its 25-year history due to Hurricane Dorian’s $200m-plus claims.Timothy Ingraham, Summit Insurance’s president, told Tribune Business that the property and
Bahamas needs tax structure to match tourism
The Bahamas needs a tax structure that will attract the equivalent of 7m tourists to its financial services industry, a local banker argued yesterday. Gowon Bowe, Fidelity Bank (Bahamas) chief financial officer, told a webinar organised by the Chart
'Abandoning the National Plan will be our undoing'
The government was yesterday urged to “dust off” the National Development Plan (NDP) instead of relying solely on the Economic Recovery Committee (ERC) for post-COVID-19 salvation. Gowon Bowe, Fidelity Bank (Bahamas) chief financial officer, said:
