National debt strikes $8.3bn
The Bahamas’ national debt hit $8.313bn at end-September 2019 with the full fiscal impact of Hurricane Dorian yet to be felt, the Central Bank’s 2019 third quarterly review has revealed. Unveiled yesterday, the report indicates that with some $508m
US environmental firm's Customs clash 'resolved'
A US-based environmental firm is “still working” on post-Dorian clean-up in Abaco after achieving “resolution” to its previous dispute with Customs, it was confirmed yesterday. Ken Hutton, Abaco’s Chamber president, said the clash that forced Ceres
Sunwing return 'major step for revival of GB'
Cabinet ministers have hailed Saturday’s return of airlift by Sunwing Airlines as “a major step in the revival” of Grand Bahama’s economy following Hurricane Dorian. K Peter Turnquest, deputy prime minister; Senator Kwasi Thompson, minister of state
Warehouse donated to Dorian relief effort
A businessman has donated a Marsh Harbour warehouse to the Bahamas Disaster Reconstruction Authority for use as the main storage facility for Dorian-related relief and reconstruction materials. Chad Sawyer said he provided the former Save-A-Lot faci
Regulator launches its financial technology hub
The Securities Commission’s Board has approved the launch of a financial technology (FinTech) Hub that will enable industry players to launch compliant products and services K. Peter Turnquest, deputy prime minister, said of the SCB FITLink hub: “Th
'Constructive' feedback on procurement reform
The Ministry of Finance’s top official yesterday said it had received “constructive” feedback on legislative reforms intended to transform the Government’s procurement processes. Marlon Johnson, the acting financial secretary, told Tribune Business:
Tourism thrilled at Denver airlift
The minister of tourism is “thrilled” that United Airlines will open more US markets for The Bahamas when it begins service from Denver on March 7, 2020. “We are thrilled that our partners at United Airlines are increasing service, giving Denver and
DPM challenges Cooper on VAT relief for services
The deputy prime minister yesterday challenged his opposition counterpart to explain how he would make-up “the tremendous revenue loss” if services were made VAT-free in the Dorian-hit islands. Confirming that the government has no plans to remove V
$5m waste of axed welfare reform plan
Poverty-stricken families and the Bahamian taxpayer have received almost no value from a near-$5.4m investment in welfare reform that was halted by the Minnis administration.
Super Value chief '100%' confident resort deal close
Super Value’s owner says he is “100 percent” confident that the sale of his Bimini Sands resort will close as early as this week, adding: “I’m doing the island a favour by exiting.”Rupert Roberts told Tribune Business he hoped to conclude the deal th
Fears voiced on govt renewable energy takeover
Renewable energy providers have voiced fears that the government’s planned $170m financing vehicle will “squeeze out” the private sector and “kill an already-struggling industry”.Guilden Gilbert, vice-president of Alternative Power Solutions (APS) Ba
'Fluid' Lucayan deal targeting year-end close
The government is aiming to close “fluid” negotiations for the Grand Lucayan’s sale by year-end, as its chairman hit out at the “shocking” state of Grand Bahama’s main airport.Michael Scott compared the facility’s current appearance to a “Red Cross r
Climate change concerns raised over Disney project
Scientists have said they are “most concerned” about Disney Cruise Line’s failure to-date to address climate change and Marine Protected Area (MOA) issues relating to its south Eleuthera project. Dr David Philipp, chair of the board of directors for
Tourism to 'come out swinging' during 2020
The Bahamas will “come out swinging next year” with new tourism promotions and initiatives as it continues to rebound from Hurricane Dorian’s devastation.Bridgette King, the Ministry of Tourism’s executive director of sales, outlined the country’s am
BPL: It's a 'go' for new generation
Bahamas Power and Light (BPL) yesterday said its new 132 megawatts (MW) of generation capacity “are go” after meeting its December 15 deadline to link them to the grid.Dr Donovan Moxey, BPL’s chairman, said the Wartsila engines “have been putting pow
