NIB: New unemployment benefit to launch this week
The National Insurance Board (NIB) is aiming to launch the $10m unemployment benefit scheme for self-employed persons by this Friday, its director told Tribune Business.Dr Nicola Virgil-Rolle confirmed that the social security scheme had last week se
Barbers and beauty salons fret over lockdown survival
Bahamian barber shops and beauty salons say they are trying to determine how they will pay the bills and survive after being placed on COVID-19 lockdown until month’s end.Adam Russell, Stylistic Barbers’ owner, told Tribune Business: “Right now I’m s
Retailer hails 'huge help' of govt lockdown change
A major Bahamian retailer has hailed the government’s decision to modify its “locked down” businesses list as “a huge help” both to its sector and the wider economy.Brent Burrows, vice-president of CBS Bahamas (Commonwealth Building Supplies), told T
Govt told: Increase small business support to $50m
The government has been urged to more than double its planned small business loan support to $50m amid fears firms may lose up to 60 percent of their sales between now and end-June.Mark A. Turnquest, a well-known small business consultant, told Tribu
Galleria: No lay-offs despite our closure
Galleria Cinemas says it does not expect to lay-off any staff despite being forced to close its doors to customers as a result of the coronavirus lockdown. Christopher Mortimer, pictured , the company’s principal, said: “We are following the protoco
More stimulus to come amid 30% jobless rate fear
The government has not used all the economic stimulus tools available to it, the deputy prime minister revealed last night, having kept some in reserve in case the COVID-19 pandemic is “prolonged”. K Peter Turnquest, pictured , in a messaged reply t
Sarkis defeats CCA over $150m 'oppression' claim
Sarkis Izmirlian has fought off a $150m “shareholder oppression” claim in the latest of a series of New York legal victories against Baha Mar’s main contractor. Judge Saliann Scarpulla, sitting in the New York State Supreme Court, ruled that China C
'Stop non-compliance' warning as Atlantis dubbed a ghost town
Bahamians were last night told they must shed “the culture of non-compliance” as “the best way” to minimise COVID-19’s projected $1bn blow to the national economy.
Retailers warn over COVID-19 'crime spike'
A Chamber of Chamber director yesterday said “crime has spiked considerably” as following the coronavirus outbreak and subsequent shut-down of much of the Bahamian economy.Tara Morley, who is also the Bahamas Federation of Retailers (BFR) co-presiden
Super Value's 'crazy panic buying figures'
Super Value’s principal yesterday revealed that COVID-19 panic buying had produced “crazy figures” with sales at some stores having increased by as much as 147 percent. Rupert Roberts, the supermarket chain’s president, told Tribune Business that wh
Construction starts to take '40-60% hit'
New construction starts will take a 40-60 percent hit, a former Bahamian Contractors Association (BCA) president predicted yesterday, with the industry unlikely to rebound until near year-end. Leonard Sands, pictured , told Tribune Business that whi
Receiver takes over Nygard firms
Peter Nygard’s global fashion empire has been plunged into financial crisis after court-appointed receivers this week took over its affairs following recent sex trafficking allegations against the tycoon.
Petroleum suppliers confident no interruption from COVID-19
Major Bahamas-based petroleum suppliers yesterday said they expect no disruption to fuel flows due to the coronavirus pandemic. Valentino Hanna, general manager at Sol Petroleum Bahamas, the Esso distributor, told Tribune Business : “At present we s
IAN FERGUSON: Keeping workers busy during the pandemic
The entire planet has been reeling over its response to the pandemic we call COVID-19. Businesses (particularly those in the tourism and hospitality industry) have closed or are in such decline that closure is imminent. For those that remain employed
CIBC offers six-month virus loan moratorium
CIBC FirstCaribbean yesterday unveiled a range of options, including up to six-month loan moratoriums, to cushion COVID-19’s economic fall-out for clients across The Bahamas and wider Caribbean. Following the lead set by its fellow Canadian-owned in
