Govt in 'conundrum' on rental assistance
The government is facing “a real conundrum” in devising an effective rental assistance initiative because it would require the banks to “freeze” landlord loans, the deputy prime minister has admitted. K Peter Turnquest, responding to questions after
Contractors: We have to live with COVID-19
Bahamian contractors yesterday conceded that re-opening the construction sector involves “a big risk” and “cannot be business as usual”, but argued: “Living with COVID-19 is the new reality.”Leonard Sands, the Bahamian Contractors Association’s (BCA)
NIB 'pumps $67m' into local economy
The National Insurance Board (NIB) “pumped $67m” into the economy during March, its director said yesterday, adding that it is having “good success” in progressing 2,000 stalled benefit claims. Dr Nicola Virgil-Rolle, speaking during a Zoom conferen
'Desperation' sparks $20m loan rethink
Growing “desperation” among his small business clients has prompted many of them into a rethink when it comes to applying for government assistance, a consultant has revealed. Mark A Turnquest, of Mark A Turnquest Consulting, told Tribune Business t
Union's $150m alternative to civil service wages cut
The Government will be “shooting themselves in the foot” if they slash civil service salaries, a union chief has warned, arguing that three alternative measures can realise some $150m in savings.Kimsley Ferguson, the Bahamas Public Services Union’s (
BTC develops digital ID card
The Bahamas Telecommunications Company (BTC) has created a mobile digital identification card to make it easier for authorities to identify its essential workers during the COVID-19 pandemic.Andre Foster, its senior director of technology operations,
Top official: Govt has 'sufficient headroom'
The Ministry of Finance’s top finance official yesterday said the government has “sufficient headroom” to meet its obligations despite the nationwide lockdown due to COVID-19. Marlon Johnson, acting financial secretary, told reporters via a Zoom con
Colina 'well placed' against COVID-19
A BISX-listed insurer believes it is well-positioned “to withstand the uncertainties” associated with the COVID-19 pandemic after profits earned by equity shareholders rose 43 percent last year. Colina Holdings Bahamas, the life and health insurance
Small business gets $11.2m COVID help
The Small Business Development Centre (SBDC) has either approved or disbursed some $11.2m in financing to help micro, small and medium sized (MSMEs) businesses survive the pandemic.Davinia Grant, the SBDC’s director, told reporters that the $20m Busi
DPM tells entrepreneurs: 'Don't let this crisis pass'
The deputy prime minister yesterday said there were “no plans” for new or increased taxes to plug the government’s COVID-19 fiscal holes, as he urged entrepreneurs: “Don’t let this crisis pass.” K Peter Turnquest, speaking to reporters outside the C
Tax credit initiative gains 45 applicants
The Department of Inland Revenue yesterday said it has received 45 applications to-date for the government’s $60m tax credit and deferral initiative designed to provide payroll support. Gaynell Rolle, the department’s acting controller, said: “We ar
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
