Life insurance claims exceed $300m mark
Life insurance claim payouts are expected to top the $300m mark for 2019, the Bahamas Insurance Association’s (BIA) deputy chairman said yesterday. Sandy Morley, speaking at the opening of Insurance Month, said: “I would just take a minute to highli
Insurance switching to risk-based taxation
Reforms switching the Bahamian insurance industry to risk-based taxation are with the Attorney General’s Office and expected to be in Parliament “shortly”, it was revealed yesterday. Vibert Williams, the Bahamas Insurance Association’s (BIA) deputy
DPM urges more than 25% water bill cut for GB
The Grand Bahama Utility Company yesterday defended its 25 percent water bill discount against calls from the deputy prime minister for the reduction to be greater.The water supplier, in a statement issued to Tribune Business, said Freeport businesse
Search and rescue failings exposed before pilot crash
Deficiencies in The Bahamas’ aviation search and rescue system were exposed by international regulators seven months before the crash involving still-missing pilot, Byron Ferguson.The International Civil Aviation Organisation’s (ICAO) last assessment
Nassau airport targets 1,448-acre expansion
The Lynden Pindling International Airport’s (LPIA) operator has obtained 1,448 acres from the government for future runway expansion after recording its first-ever annual profit at $7.755m.The Nassau Airport Development Company (NAD), in its 2019 ann
BISX's share index doubles growth rate
The Bahamas International Securities Exchange’s (BISX) All-Share Index more than-doubled its growth rate last year compared to 2018, it was confirmed yesterday.The Index, which only measures share price movements among BISX-listed equity stocks and e
GBPA says airport talks still 'ongoing'
The Grand Bahama Port Authority (GBPA) yesterday confirmed that discussions about the Government taking over ownership of the island’s airport remain “ongoing”. Freeport’s quasi-governmental authority, in a statement, said “full details” would be di
Women entrepreneurs hit by 30% income gap
The US government has teamed with its Bahamian counterpart to launch its Academy for Women Entrepreneurs (AWE) initiative locally in a bid to narrow another element of the gender gap.
Vacation rentals not feeling VAT’s impact
The Ministry of Tourism’s top official yesterday said Bahamian vacation rental owners are not feeling the impact of the VAT that Airbnb has been collecting on the Government’s behalf since October.
Bahamas takes ‘Sabbatical’ with Airbnb for visitor boost
The Bahamas’ latest partnership with Airbnb is designed to further boost post-Dorian tourism and encourage locals to develop sustainable cultural and environmental offerings, officials said yesterday.
Auto ‘shot in arm’ via 31% sales rise
Auto dealers received a “badly needed shot in the arm” from 2019’s 31.18 percent sales increase, it was revealed yesterday, marking the industry’s best performance since VAT’s arrival.
Financial firms in 'strategic alliance'
A well-known Bahamian accounting firm has teamed with a local investment house in a “strategic alliance” that has seen the latter taking over its back office and registered agent functions.Senior executives at FT Consultants and Providence Advisors c
BPL targets fall 2021 for rental generation end
Bahamas Power & Light (BPL) last night confirmed it aims to end its reliance on rental generation by fall 2021 in a move that would save long-suffering consumers $2m-plus per month.
Odyssey confirms overflight fees bid
Odyssey Aviation, the fixed base operator (FBO) with a presence in Nassau, yesterday confirmed it was among the rejected bidders who sought to operate The Bahamas’ overflight fee regime. Steven Kelly, its chief executive, told Tribune Business: “We
'Unify' Abaco's power grid to eliminate four voltages
The Inter-American Development Bank (IDB) has warned many Abaco residents will be without power “for a year or longer”, as it called for a “unified” grid to eliminate the four voltages used pre-Dorian.The multilateral lender, in documents accompanyin
