BPL’s $66m bad debt major worry for bond proposal
The $66m in delinquent debt owed to Bahamas Power & Light (BPL) by homeowners and businesses exposes the potential weakness in plans for the utility’s multi-million dollar refinancing.
Bakery to expand via $75k RBC loan
A Bahamian bakery has obtained a $75,000 loan from Royal Bank of Canada (RBC) through the Small Business Development Centre (SBDC).Gregory Collie started the Cookie Caterer from his home in 2012. It specialises in homemade, freshly-baked cookies that
Contractor president slams 'haphazard' Dorian clean-up
The Bahamian Contractors Association’s (BCA) president yesterday slammed “the haphazard way” in which Hurricane Dorian clean-up and reconstruction is being handled. Michael Pratt told the annual Accountants Week seminars: “I have concerns with the t
Govt in 'revolutionary' $30m digital overhaul
The $30m project to transform the government’s digital/IT infrastructure was yesterday branded “one of the most revolutionary things that has happened in the country for decades”.Jeffrey Beckles, pictured, the Chamber of Commerce’s chief executive, t
Minister in pledge on carbon neutrality
A Cabinet minister yesterday pledged to develop “more resilient communities” and move towards “carbon neutrality” as part of Hurricane Dorian rebuilding and reconstruction efforts. Romauld Ferreira, pictured , minister of the environment and housing
Bank staff threatened in Dorian's aftermath
Bank vaults were destroyed and employees threatened by persons desperate to access cash in Hurricane Dorian’s immediate aftermath, the Clearing Banks Association chair revealed yesterday. LaSonya Missick, who is also Royal Bank of Canada’s (RBC) Bah
Insolvent adviser meets just 25% of $1m liability
An insolvent Bahamas-based investment advisor has been placed in Supreme Court-supervised liquidation due to its remaining cash balances covering less than 25 percent of its $1m-plus liabilities. Ed Rahming, the newly-appointed liquidator for Pacifi
BPL’s $650m bond cost ‘hinges’ on credit rating
The cost of Bahamas Power & Light’s (BPL) $650m refinancing “hinges” on the credit rating it is seeking from international agencies, Tribune Business was told yesterday.
Top official forecasting jobless rate over 13%
The Ministry of Finance’s top official yesterday forecast that the national unemployment rate could surge back to over 13 percent next year due to the economy shrinking from Hurricane Dorian.Marlon Johnson, the acting financial secretary, gave the gr
Water Corp supplier fears Dorian blow on $16.2m owing
The Water & Sewerage Corporation’s main supplier yesterday voiced concern that Hurricane Dorian has “exacerbated” the Government’s difficulties in paying the $16.2m debt owed to it.
Local insurers in $85m Dorian loss
The Bahamian insurance industry’s share of Hurricane Dorian losses is a collective net $85m, industry regulators revealed yesterday. Jamel Bodie, the Insurance Commission of The Bahamas (ICB) supervision manager, told the Accountants’ Week conferenc
NIB upgrades hailed as 'giant step forward'
The Chamber of Commerce’s chief executive yesterday hailed the National Insurance Board’s (NIB) new employer portal as “a giant step forward that could not be better timed”.Jeffrey Beckles, speaking after NIB presented its new initiative to the priva
Bahamas' digital 'DARE' redrafted for fresh look
Legislation to regulate the financial technology (Fintech) and cryptocurrency space is being redrafted and will be released for a second consultation round before year-end, it was revealed yesterday. Christina Rolle, the Securities Commission’s exec
Parliament 'must get serious' on corruption
The bribery probe involving the Defence Force’s $150m fleet “speaks volumes” about the need for Parliament to take the anti-corruption fight “as seriously as the country”, governance reformers urged yesterday. Matt Aubry, the Organisation for Respon
Loretta - I knew deal looked fishy – ‘I feel vindicated for asking where money was going’
A former Opposition leader yesterday said the probe into bribery allegations involving the Defence Force’s new $150m fleet had “absolutely vindicated” concerns she first raised five years ago.
