PM's 'red tape' worry on Dorian rebuilding
The prime minister has emphasised to the private sector that “red tape” needs to be removed so that the rebuilding process on Abaco and Grand Bahama proceeds as quickly as possible. Dr Hubert Minnis was speaking at a meeting with the Bahamas Chamber
Corner Bank hands $100k to Red Cross
A Bahamas-based financial institution has donated $100,000 to The Bahamas Red Cross to assist with Hurricane Dorian relief efforts. Cornèr Bank (Overseas), which earlier this year became the first to launch a round-the-clock trading platform for Bah
Small business faces $180m 'finance gap'
The Bahamas faces a $180m “finance gap” in providing capital to small businesses, the Inter-American Development Bank (IDB) has revealed, as its project covers just 17 percent of demand. The multilateral lender, in documents detailing its $25m initi
Dorian 'totally destroys' 80% of fishing industry
Fishermen yesterday said Hurricane Dorian had “totally destroyed” 80 percent of the industry in Abaco and Grand Bahama amid uncertainty over how the government will aid recovery.“Eighty percent of the fisheries sector in Grand Bahama and Abaco is tot
Abaco can be 'model rebuild for Caribbean'
Abaco can become “uniquely distinct” as the Caribbean “model” for how storm-ravaged communities are rebuilt, the Chamber of Commerce’s chief executive argued yesterday. Jeffrey Beckles told Tribune Business that Hurricane Dorian’s devastation had “p
ZNS blasts $542k summary judgment bid as 'premature'
Attorneys for ZNS have slammed the “premature” effort to enforce a $542,000 summary judgment bid against the state-owned broadcaster over a satellite contract dispute.Dennis Tracey, an attorney with Hogan Lovells, the law firm that traditionally repr
BPL solution ‘must be around corner’
Bahamians “shouldn’t fool ourselves” that Bahamas Power & Light’s (BPL) woes have gone away amid the post-Dorian chaos, the Chamber of Commerce’s top executive warned yesterday.
Airline bids to 'get going' after Dorian
A Bahamian-owned airline plans to resume flights to Marsh Harbour tomorrow as it bids to rebound from Dorian’s destruction of its Grand Bahama International Airport terminal. Sherrexcia Rolle, Western Air’s vice-president for operations, told Tribun
Banks move to 'jumpstart' clients' Dorian recoveries
All Bahamian commercial banks were yesterday said to have implemented Dorian relief programmes to help storm-ravaged clients “jumpstart their recovery and get back on their feet”. LaSonya Missick, chair of the Clearing Banks Association (CBA), said:
NIB replaces 438 lost smart cards
The National Insurance Board (NIB) says it is proactively working to assist Abaco and Grand Bahama residents seeking to replace National Insurance smart cards lost in Hurricane Dorian. It said its registration department has taken steps to simplify
No plans yet for taxes to pay for rebuilding
THE DEPUTY prime minister yesterday said there are no plans for new or increased taxes to finance Dorian rebuilding "at this point", adding: "That is not part of the discussion."
One-cent coin use to cease by end-2020
The Central Bank yesterday said its plan to end the Bahamian one-cent coin’s use as legal tender by end-2020 will save itself and the banking system $7m over a ten-year period.The regulator, unveiling its rationale for ending the coin’s 54-year histo
BTC lowers roaming agreement period on restoration 'pick-up'
The Bahamas Telecommunications Company (BTC) yesterday said it is no longer pursuing 30 days free roaming for Abaco and Grand Bahama subscribers because restoration has “picked up in earnest”. Garfield “Garry” Sinclair, BTC’s chief executive, told T
Ex-BCA chief warns over Dorian rebuild 'recipe for disaster'
A former Bahamian Contractors Association (BCA) president yesterday warned against “draconian measures” post-Dorian that could increase building costs by between ten to 20 percent. Stephen Wrinkle told Tribune Business that the government should ins
Govt in $200m Dorian shortfall
The government likely faces a $200m revenue shortfall as a result of Hurricane Dorian’s devastation, the deputy prime minister revealed yesterday.KP Turnquest said the category five storm had inflicted a “not insignificant loss to the economy” given
