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.
80% of Dorian-hit assets uninsured
Up to 80 percent of private homes and businesses devastated by Hurricane Dorian were uninsured, the deputy prime minister revealed yesterday, creating an unsustainable burden for the state.K Peter Turnquest, opening the annual Accountants Week confer
GB Power suffers $23m Dorian blow
Hurricane Dorian’s catastrophic winds and storm surge have inflicted a $23m blow on Grand Bahama Power Company, its Canadian owner revealed yesterday. Emera, unveiling its 2019 third quarter results, disclosed that Grand Bahama’s electrical utility
Aliv: Yields up by 10% in one year
Aliv’s top executive yesterday revealed that per customer revenue yields have increased by ten percent over the past 12 months as the mobile operator moves to “reinvent the store experience”. Damian Blackburn, speaking as the upstart provider celebr
BOB 'open for partners' as profits decline 75%
Bank of The Bahamas (BoB) is open to strategic partnerships, the deputy prime minister said yesterday, as the institution suffered a 75.2 percent profits decline for its 2020 financial year’s first quarter. Speaking outside the Accountants Week conf
Accountants chief: We can help in a disaster
The Bahamas must create a “pre-disaster planning council” involving multiple government agencies following Hurricane Dorian, the Bahamas Institute of Chartered Accountants (BICA) president said yesterday. Diveane Bowe, speaking during the annual Acc
Angry hotel unions raise strike threat
Hotel workers were yesterday warned it would be “absolute madness” to further damage a tourism industry already “reeling” from Hurricane Dorian with industrial action during the peak winter season.
Union chief moves strike certificate to 'my front pocket'
The hotel union’s president is moving his strike vote certificate “within easy reach”, while warning the minister of labour that “he may not have a Christmas vacation this year”. Darrin Woods, head of The Bahamas Hotel, Catering and Allied Workers U
