More stimulus to come amid 30% jobless rate fear
The government has not used all the economic stimulus tools available to it, the deputy prime minister revealed last night, having kept some in reserve in case the COVID-19 pandemic is “prolonged”. K Peter Turnquest, pictured , in a messaged reply t
Sarkis defeats CCA over $150m 'oppression' claim
Sarkis Izmirlian has fought off a $150m “shareholder oppression” claim in the latest of a series of New York legal victories against Baha Mar’s main contractor. Judge Saliann Scarpulla, sitting in the New York State Supreme Court, ruled that China C
'Stop non-compliance' warning as Atlantis dubbed a ghost town
Bahamians were last night told they must shed “the culture of non-compliance” as “the best way” to minimise COVID-19’s projected $1bn blow to the national economy.
Retailers warn over COVID-19 'crime spike'
A Chamber of Chamber director yesterday said “crime has spiked considerably” as following the coronavirus outbreak and subsequent shut-down of much of the Bahamian economy.Tara Morley, who is also the Bahamas Federation of Retailers (BFR) co-presiden
Super Value's 'crazy panic buying figures'
Super Value’s principal yesterday revealed that COVID-19 panic buying had produced “crazy figures” with sales at some stores having increased by as much as 147 percent. Rupert Roberts, the supermarket chain’s president, told Tribune Business that wh
Construction starts to take '40-60% hit'
New construction starts will take a 40-60 percent hit, a former Bahamian Contractors Association (BCA) president predicted yesterday, with the industry unlikely to rebound until near year-end. Leonard Sands, pictured , told Tribune Business that whi
Receiver takes over Nygard firms
Peter Nygard’s global fashion empire has been plunged into financial crisis after court-appointed receivers this week took over its affairs following recent sex trafficking allegations against the tycoon.
Petroleum suppliers confident no interruption from COVID-19
Major Bahamas-based petroleum suppliers yesterday said they expect no disruption to fuel flows due to the coronavirus pandemic. Valentino Hanna, general manager at Sol Petroleum Bahamas, the Esso distributor, told Tribune Business : “At present we s
IAN FERGUSON: Keeping workers busy during the pandemic
The entire planet has been reeling over its response to the pandemic we call COVID-19. Businesses (particularly those in the tourism and hospitality industry) have closed or are in such decline that closure is imminent. For those that remain employed
CIBC offers six-month virus loan moratorium
CIBC FirstCaribbean yesterday unveiled a range of options, including up to six-month loan moratoriums, to cushion COVID-19’s economic fall-out for clients across The Bahamas and wider Caribbean. Following the lead set by its fellow Canadian-owned in
GB Power suspends new consumer levy
Grand Bahama Power Company yesterday said it is suspending the extra charge it was preparing to add to customer bills from April 1, 2020, due to the coronavirus pandemic. The utility said the move occurred “following consultation” with the Grand Bah
$4.4bn economic blow: 'Playbook out window'
The coronavirus and Hurricane Dorian are threatening to deal The Bahamas an “unprecedented” $4.4bn blow, with the deputy prime minister revealing yesterday: “The playbook is out the window.” K Peter Turnquest, speaking to Tribune Business after reve
Water sports sector near total shutdown
Water sports operators yesterday revealed the industry is almost completely shutdown due to the coronavirus pandemic. Kamar Chandon, general manager of KC Watersports Bahamas, told Tribune Business : “They shut down the cruise ships and stuff, so we
COVID-19 'worst ever catastrophe' for the workforce
A trade union leader yesterday branded the coronavirus as “the worst catastrophe” Bahamian workers have ever faced due to the uncertainty over how long it will last.Obie Ferguson, pictured, the Trades Union Congress (TUC) president, told Tribune Busi
Govt praised on virus measures given 'limitations'
Private sector executives and union leaders yesterday praised the government for striking the right balance between its fiscal woes and propping up workers and the economy against COVID-19.Robert Myers, the Organisation for Responsible Governance’s (
