GB Chamber president backs virus lockdown
The Grand Bahama Chamber of Commerce’s president has backed the government’s COVID-19 lockdown as critical to “prevent a far worse toll and greater hardship”. Greg LaRoda said the “difficult” measures put in place by the government would undoubtedly
Self-employed assistance net expands to cover 7,000
More than 7,000 persons will be covered by the government’s $5.9m expansion of COVID-19 aid to self-employed workers outside the tourism sector, the deputy prime minister said yesterday.K Peter Turnquest told the House of Assembly that the extension
Applicants seek nearly 75% of small firms aid
Almost 75 percent of the government’s $20m small business loan facility has been covered by the nearly-400 applications received to-date, the deputy prime minister revealed yesterday.K Peter Turnquest told the House of Assembly that existing applican
Scotiabank unveils five branch closings
Scotiabank (Bahamas) has confirmed five branches have closed until after Easter as it moves to help the fight against the novel coronavirus’s spread.The Canadian-owned bank, in a note to customers, said four New Providence-based branches as well as i
Opposition calls for $2bn in borrowing
The opposition’s deputy leader yesterday urged the government to borrow up to $2bn to prevent the Bahamian economy’s collapse amid the COVID-19 pandemic. Chester Cooper, pictured , the Progressive Liberal Party’s (PLP) shadow minister for finance, t
BPL cash crisis as payments collapse
Bahamas Power & Light (BPL) has suffered a "frightening" multi-million dollar March revenue drop that threatens the energy provider's very existence if it continues, a Cabinet minister has revealed.
Atlantis’ plan to pay axed workers
Atlantis workers have hailed the mega resort's plans to pay staff up to 50 percent of their base salaries for the next 60 days as a "wonderful thing" to mitigate COVID-19's financial fall-out.
Harbour Island 'like movie set that's gone dark'
A Harbour Island property manager has described the tourism hot-spot as akin “a movie set gone dark” amid the COVID-19 lockdown, adding: “We’ve not seen this in almost 70 years.”James Malcolm, a former Ministry of Tourism executive who now runs a vac
VAT, business licence filings back to April 15
The government has pushed back the deadlines for March’s VAT filings and business licence fee payments until April 15, a senior official confirmed yesterday. Marlon Johnson, the Ministry of Finance’s acting financial secretary, told Tribune Business
We've never seen numbers like this - how will it play out in the end?
The coronavirus pandemic is taking the planet by storm, despite emerging less than four months ago it has taken over headlines, infecting hundreds of thousands including prominent leaders such as the British Prime Minister Boris Johnson and causing u
Ocean Club to stay open
The Paradise Island-based Ocean Club says it plans to remain open with “limited services” and has no intention of laying-off staff amid the COVID-19 pandemic.John Conway, general manager of the Ocean Club, a Four Seasons resort, told Tribune Business
Taxi drivers face benefits struggle as self-employed
Taxi drivers would not be struggling to obtain the new self-employed jobless benefit if the government had moved faster on granting new plate leases and franchises, a union president is arguing. Wesley Ferguson, president of the Bahamas Taxi Cab Uni
Virus 'spikes' demand for payment provider's app
A Bahamian payments solutions provider says it has seen “a spike” in persons downloading its app to conduct financial transactions with more than 60 local businesses.MobileAssist, a financial technology (FinTech) provider, says it has given companies
'Screwed' if we don't use covid-19 to truly reform
The Bahamas will be “screwed” if it does not use the “unique opportunity” provided by the COVID-19 pandemic to restructure itself for a sustainable 21st century future, it was argued yesterday.Roderick Simms, a former Chamber of Commerce director who
Liquor distributor denies law breach
A Bahamian liquor distributor has refuted assertions by the Police Commissioner that its now-prohibited home delivery service breached the law.
