Renewables stunned over paying BPL fee
Renewable energy providers yesterday warned it was “imperative” that the government clarify its plan to make users pay the debt servicing fee for Bahamas Power & Light’s (BPL) mega $650m refinance.
No web shop patron winning tax until 2020
The new web shop patron “winnings” tax is unlikely to come into effect until the New Year, the industry association’s chief executive confirmed last night.Gershan Major, head of The Bahamas Gaming Operators Association, told Tribune Business that the
‘Paying the price’ for BPL’s failings
A Cabinet minister yesterday warned that all Bahamians must now “pay the price” for Bahamas Power & Light’s (BPL) failings even as his House of Assembly address left more unanswered questions.
URCA fines BPL $230k over fires, blackout stalling
Energy sector regulators last night revealed they have fined Bahamas Power & Light (BPL) some $229,535 for failing to co-operate with investigations into its summer blackouts and Clifton Pier fires.
Bahamas targets Middle East on financial services
The Bahamas had a strong presence at a Dubai conference that attracted wealth managers and estate planners from the world’s leading financial services jurisdictions.The Bahamas Financial Services Board (BFSB) and Ministry of Financial Services teamed
$3.6m PMH upgrade kicks off immediately
The $3.6m redevelopment of Princess Margaret Hospital’s (PMH) emergency department, and orthopedic and wound care areas, has begun less than one week after the contract’s signing.Inline Project Company began works at the emergency department’s entran
Colina 'proud' over balance sheet praise
Colina Insurance Company yesterday said it was “particularly proud” that the industry’s top rating agency had praised its strong balance sheet in the aftermath of Hurricane Dorian. Catherine Williams, finance vice-president for the life and health in
First international flight post-Dorian reaches GB
Grand Bahama on Tuesday welcomed its first international flight since the passing of Hurricane Dorian to the island’s Fixed Based Operator (FBO) at Grand Bahama International Airport. Representatives from the Ministry of Tourism and Aviation, Grand
'Taking Nassau from 1.0 to 10.0'
Bahamian institutional investors will be invited to raise 40-50 percent of the cruise port’s $100m bridge financing facility, with its developer pledging yesterday: “We’re taking Nassau from 1.0 to 10.0.” Michael Maura, Nassau Cruise Port’s chief ex
'Robust' Thanksgiving from 90k LPIA arrivals
A Cabinet minister yesterday voiced optimism for a “robust” Thanksgiving and Christmas tourism season after 90,000 persons moved through Lynden Pindling International Airport (LPIA) last week.Dionisio D’Aguilar, minister of tourism and aviation, spea
Govt debt trading on BISX misses target start date
The Central Bank’s governor yesterday expressed optimism that the trading of central government debt on BISX will begin before year-end despite the initial November deadline being missed.
Debt ratio forecasts are 'overly optimistic'
Fiscal observers yesterday warned that projections showing The Bahamas’ debt ratios will be kept in check are “very optimistic” given that this requires surpluses three times’ higher than achieved before. Robert Myers, the Organisation for Responsib
$250m cruise port overhaul targets Q1 2022 completion
Nassau cruise port’s operator is aiming to “double the yield” from passenger spending once the facility’s transformation into a destination product is completed by the 2022 first quarter.Michael Maura, Nassau Cruise Port Ltd’s chief executive, told T
Top insurers removed from ratings 'review'
The Bahamas’ two major life and health insurers were yesterday removed from “review” by the industry’s major rating agency despite suffering increased claims and policy lapses due to Hurricane Dorian.AM Best, in two separate releases, confirmed it ha
Sterling names Bahamian to head local IT operations
Sterling Global Financial, the $10bn asset manager, has appointed Timothy Maura to head corporate information technology (IT) for its Bahamas operations. “We are very pleased to announce the appointment of Timothy Maura, a specialist who brings with
