Fiscal Council's MoU eyes July completion
The Fiscal Responsibility Council (FRC) is seeking “autonomy” in its financial affairs as it finalises the Memorandum of Understanding (MoU) that will govern its relationship with the government. Gowon Bowe, who represents the Bahamas Institute of Ch
Hotel re-openings delayed to avoid 'horrendous' loss
A cabinet minister yesterday said “I don’t like, but understand” the decisions taken by Baha Mar and Sandals to postpone their COVID-19 reopenings beyond July 1 to the fall/winter period.Dionisio D’Aguilar, minister for tourism and aviation, said: “I
Time to get the ‘boot’ off financial services’ neck
Hubert Edwards, in the third of a five-part series, sets out the process for repositioning the Bahamian financial services industry.
Ministers to rescue on tourism's 'rocky start'
Ministerial intervention yesterday overcame “a rocky start” to the tourism industry’s re-opening after Bahamas Customs failed to appear at multiple marinas to clear incoming boats and yachts Peter Maury, the Association of Bahamas Marinas (ABM) pres
‘Now or never’ for Freeport
A prominent QC yesterday urged the government to seize the “now or never” opportunity provided by COVID-19 to transform Freeport into “the economic juggernaut for the future of The Bahamas”.
Central Bank chief: Fiscal 'discipline' key after COVID
The Central Bank’s governor yesterday warned that the government must reimpose fiscal discipline once the COVID-19 crisis has passed so it can continue to access the debt markets. John Rolle, during a webinar hosted by the Ministry of Finance, said
Over 100 private planes targeting Bahamas visits
A Bahamian fixed base operator (FBO) says it has close to 100 private aircraft inquiring about coming to The Bahamas within the next month after the sector reopened for business yesterday. Alphonso Bowe, general manager of Jet Nassau Air Elite, told
Auto dealer’s fury over port charges
A frustrated Bahamian auto dealer yesterday revealed he “cannot make any headway” in resolving demands for thousands of dollars in port storage fees after COVID-19 left his vehicle imports “stuck on the dock”.
New auto sales plunge 90% at COVID’s peak
New car sales plunged more than 90 percent during the COVID-19 lockdown’s peak, data seen by Tribune Business has revealed, with many dealerships “not selling a single vehicle” for April.
Govt not hostage to WTO 'target dates'
The government will not be held hostage to any deadlines or timelines for completing The Bahamas’ accession to full World Trade Organisation (WTO) membership, a Cabinet minister said yesterday. Elsworth Johnson, pictured , minister of financial serv
RBC unveils second covid relief phase
Royal Bank of Canada (RBC) yesterday unveiled a second phase of loan repayment deferrals for Bahamian and Caribbean clients impacted by the ongoing COVID-19 pandemic.RBC’s personal banking clients will be able to apply for further three-month payment
Business Licence Act needs 'export turnover' clarity
The government is being urged by the financial services industry to reform the Business License Act to clarify the definition of “export turnover”, a Cabinet minister said yesterday.Elsworth Johnson, minister of financial services, trade and Immigrat
Beauty sector re-opens with appointment-only
Barbers and hair salons yesterday said they were focusing on appointments only as the sector re-opened following three months of COVID-19 lockdown. Garcia Davis, The Edge of Paradise Barber Shop’s owner/operator, told Tribune Business : “Our first d
Baha Mar eyeing 15-20% job cuts
A Cabinet minister yesterday conceded it is “deeply concerning” that Baha Mar has delayed its re-opening amid plans to make “additional staffing reductions” that could result in hundreds losing their jobs. Dionisio D’Aguilar, pictured , minister of
'Transformative' COVID leaves retailer targeting overseas expansions
A Bahamian retail entrepreneur says COVID-19’s “transformative” impact has spurred him to look at regional expansion with sales “30 percent off” as his businesses emerge from lockdown.Andrew Wilson, the Quality Business Centre (QBC) proprietor, told
