Auto parts suppliers: 'one day won't cut it'
Auto parts suppliers yesterday said being allowed to open one day per week during the COVID-19 pandemic “is not going to cut it” based on the heavy consumer demand all experienced.William Bastian, Big Six Auto Parts’ general manager, told Tribune Bus
Govt warns of $800m deficit
The government is facing an $800m deficit for this budget period with “next year looking even worse”, the deputy prime minister revealed yesterday, as revenues are off by up to 70 percent. K Peter Turnquest, in a Zoom conference with members of Old
QC questions legitimacy of VAT 'estimate'
A prominent QC is arguing that Bahamian companies will be breaking the law if they comply with the government’s request to file “estimated” VAT returns for March today. Wayne Munroe QC, pictured , told Tribune Business he could find nothing in the V
PM 'meant no disrespect', deputy tells private sector
The deputy prime minister yesterday reassured the private sector that Dr Hubert Minnis’, pictured, “heart is in the right place” after he attacked businesses for their “lack of soul” over employee lay-offs.K Peter Turnquest, in a Zoom presentation to
Business owners 'not living in ivory towers'
The prime minister’s attack on business owners “has no merit” in most cases, a prominent entrepreneur argued yesterday, adding: “We’re not living in ivory towers.” Robert Myers, who has multiple business interests, told Tribune Business that it was
Oil price crash 'once in lifetime opportunity'
A Cabinet minister yesterday said the global oil market crash has presented The Bahamas with a “once in a lifetime opportunity” to ease the pain of the deep COVID-19 recession.Desmond Bannister, minister of works, told Tribune Business that if Bahama
Hardware stores feeling pinch despite relaxation
Some Bahamian hardware stores yesterday said they might remain closed and still lay-off staff despite being permitted by the government to open from 8am to 8pm on Wednesday and Friday. Franklyn Russell, the Home Care Centre’s general manager, told T
Plant nurseries: Opening will ease 'unique' situation
Plant nurseries yesterday said the limited opening hours permitted by the government will alleviate “a unique” situation where they have had to maintain payroll without any revenue coming in. Mark Thompson, general manager of Nature’s Way plant nurs
Scotiabank warns clients over scam
Scotiabank Bahamas yesterday warned customers not to provide confidential banking information to persons who call claiming there is an issue with their account. The bank, in a statement, said it was aware of so-called “phishing” phone calls being ma
Auto dealers: Parts opening no big deal
Auto dealers yesterday said opening their parts departments for one day per week is “not a big business boost” - especially since they are still unable to service clients’ vehicles.Fred Albury, the Auto Mall’s principal, told Tribune Business he will
Graycliff slams 'utterly false' NIB allegations
Graycliff last night slammed claims that it was delinquent in paying National Insurance Board (NIB) contributions on behalf of staff as “utterly false”. The high-end hotel and restaurant hit out following widely-circulated social media claims that i
Bahamas most exposed to external fund pressure
The Bahamas is the world’s most vulnerable tourism-based economy to external financing pressures, a Standard & Poor’s (S&P) study has revealed, and faces “major deterioration” in credit indicators.
Oil explorer in licence extend over COVID-19
A Bahamas-based oil explorer has voiced optimism that the government will extend its drilling licence beyond year-end despite Florida congressmen lobbying the Trump administration against its plan.
Ex-minister: Speed up investment to avoid 'catastrophe'
An ex-investment minister says the government must turn promises of fast-track approvals into reality to give The Bahamas “a fighting chance of avoiding economic catastrophe”.Khaalis Rolle, who held the post in the former Christie administration, tol
‘Leaner’ law firms eyed as McKinney confirms lay-offs
A prominent QC has warned that Bahamian law firms will likely be “leaner” following the COVID-19 pandemic as McKinney, Bancroft & Hughes became the latest major player to confirm lay-offs.
