'Chicken and egg': GB Power eyes 50% cost drop for east
Electricity supply restoration to east Grand Bahama was yesterday branded “a chicken and egg situation” as the island’s utility eyes potential solutions that will slash its costs by 50 percent.K Peter Turnquest, pictured, deputy prime minster and the
RoyalFidelity's 'major step' over Caribbean expansion
A Bahamian investment bank yesterday said it had taken “a major step towards” realising its Caribbean expansion ambitions by finally closing the purchase of a $150m Cayman-based pension portfolio. Michael Anderson, pictured , RoyalFidelity Merchant
Central Bank's 'game changer' over settlement
Payment services providers yesterday hailed the move allowing them to establish settlement accounts with the Central Bank as “a game changer” for the sector and the digital Bahamian dollar roll-out. Harvey Morris, Omni Financial Services’ chief exec
Bahamas still 'in the blind' over France's blacklisting
The Bahamas is in “the blind” over France’s decision to “blacklist” its financial services industry, the deputy prime minister said yesterday, with Paris yet to justify why it took such punitive action. K Peter Turnquest said: “I saw a listing today
Baha Mar attracted 2m visitors in 2019
Baha Mar yesterday said it rounded off a year in which it attracted more than two million visitors with 100 percent occupancy during the Christmas season. The Cable Beach mega resort, in a statement to Tribune Business, said: “2019 proved to be a mo
BAIC urges artisans to exploit plastic bag ban
The Bahamas Agricultural and Industrial Corporation (BAIC) says straw artisans can exploit the ban on single-use plastic bags to increase their own sales by creating alternatives.Debbie Strachan, BAIC’s acting general manager, said it will when promo
Business Outlook gives summit speaker line-up
The upcoming Bahamas Business Outlook conference will focus on how multiple post-Hurricane Dorian challenges can be converted into quality rebuilding, modernisation and growth opportunities. ssembling some heavy hitters to explore the theme of this
GB to 'surprise some' with economic activity
The deputy prime minster yesterday voiced optimism that Grand Bahama will enjoy “quite significant” economic activity during 2020 despite its ongoing recovery from Hurricane Dorian’s challenges. K Peter Turnquest, who is also the east Grand Bahama MP
Bahamas needs $670m for 'first world' health facilities
The Bahamas needs a $670m capital investment to “bring our healthcare facilities into the 21st century and up to par with the first world”, a Cabinet minister revealed yesterday. Dr Duane Sands, pictured , minister of health, confirmed to Tribune Bu
Govt eyes $40m waste-to-energy Abaco solution
The government is eyeing a $40m waste-to-energy package as part of a $140m solution to the post-Dorian clean-up challenges in Abaco. Documents released ahead of next Monday’s “pledging” conference, in which the government has teamed with the United
'No turning back' on plastic bag charge
The government yesterday asserted there is no turning back on the 25 cents fee for single-use plastic bags as retailers complained they are taking the brunt of consumer complaints. Dr Rhianna Neely-Murphy, the Department of Environmental Health’s se
Oil explorer aims to open fund to small Bahamians
A Bahamas-based oil explorer and its advisers yesterday said they plan to seek the Securities Commission’s permission to open their newly-launched mutual fund to small local retail investors.The Bahamas Petroleum Company (BPC) disclosed that its £2m
DPM pledges to 'speed up' small business Dorian relief
The government is aiming to “speed up” financial help for Dorian-hit businesses, the deputy prime minister said yesterday, although its $10m facility is likely to meet less than 25 percent of their needs.K Peter Turnquest told Tribune Business the pr
Govt seeking $40m home repair donations
The government is aiming to raise $40m from private sector donors to finance “sustainable housing repairs or reconstruction” for Dorian victims who lacked the necessary insurance coverage. Documents released ahead of next Monday’s “pledging” confere
Ex-Bahamasair chair's surprise over US block
An ex-Bahamasair chairman has expressed surprise that required upgrades to three of the national flag carrier’s jets were not “readily dealt with” prior to them being barred from flying to the US. Valentine Grimes, who headed Bahamasair’s Board unde
