Arawak Port beats profit target by 9%
The Nassau Container Port’s 2019 first quarter profits beat target by nine percent despite projections that full-year net income will be down by more than $1m compared to the prior year.Arawak Port Development Company (APD), the port’s BISX-listed op
Potter's Cay threat to 'tax and security'
The Arawak Port’s top executive yesterday sounded a renewed alarm over the risk to “national security” and tax revenue posed by the continued landing of international cargo at Potter’s Cay.Michael Maura, writing in the BISX-listed port operator’s jus
VAT reassurance 'final impetus' for $100m expansion
PALM Cay’s chief executive yesterday said recent value-added tax (VAT) “assurances” by the Government had served as the “final impetus” to kick-start its latest $100m expansion.Rob Batchelor, Palm Cay’s chief executive, told Tribune Business that the
Contractor makes donation to BTVI
Well-known contractor Larry Treco and his wife, Paula, recently donated an Apple iMac desktop computer to the Bahamas Technical and Vocational Institute (BTVI).Mr Treco learned of BTVI’s computer needs from its president and fellow Rotarian, Dr Rober
Bahamian marinas 'not taking foot off the gas'
BAHAMIAN marinas believe that strong interest at the recent Fort Lauderdale boat show will translate into increased business, telling Tribune Business: “We’re not taking our foot off the gas.”Basil Smith, the Association of Bahamas Marinas (ABM) exec
Tourism matters heads to Bimini
The Why Tourism Matters workshops launched in the Family Islands last night with an event in Bimini, as organisers expand the initiative beyond New Providence.The Tourism Development Corporation (TDC), working with the Bimini Chamber of Commerce, Bah
Govt to 'move quickly' on Contractors Board
The Government and Bahamian Contractors Association (BCA) are in talks over the appointment of the Contractors Board, which will oversee enforcement of the the sector’s governing law.Desmond Bannister, minister of works, told Tribune Business: “We ar
PI resort tells locals to vacation at home
A Paradise Island-based resort is encouraging Bahamians to stay at home when looking for a vacation escape.Comfort Suites is inviting residents to stay at the all-suite hotel. Yasmine Strachan, its director of sales, said that given the possible stre
Doctors, insurers told: Cut fees for viable NHI
All doctors, healthcare facilities and insurers must cut their fees if the revised National Health Insurance (NHI) model is to succeed and be financially viable, a Cabinet minister has warned.Dr Duane Sands, minister of health, told Tribune Business
Bahamas bank accounts targeted for US seizure
Accounts at two Bahamian banks, alleged to contain bribery proceeds from a massive $1.2bn money laundering scheme tied to top Venezuelan officials, are targeted for seizure by the US government. Court documents obtained by Tribune Business reveal tha
Re-hired NHI consultant's fee 'not in $8.3m ball park'
KPMG, whose previous $8.3m National Health Insurance (NHI) fee was heavily criticised by the Government, has been re-hired for a sum “nowhere near that ball park”.Dr Duane Sands, minister of health, defended the accounting firm’s new NHI consultancy
Public health system NHI's 'Achilles heel'
The Bahamas Insurance Association’s (BIA) chairman has warned that the public healthcare system remains the revamped National Health Insurance (NHI) scheme’s “Achilles heel”. Emmanuel Komolafe, pictured, in an interview with Tribune Business, reiterat
Few prosecutions show anti-financial crime regime works
The Deputy Prime Minister is arguing that The Bahamas has relatively few money laundering prosecutions because its regulatory regime is successfully deterring financial criminals.Flipping a key aspect of the Financial Action Task Force’s (FATF) ratio
Blue Hills reliance hits BPL customers
Bahamas Power and Light’s (BPL) chairman has conceded that increased dependence on its Blue Hills power station, which uses a more expensive fuel, has added to the recent spike in customer electricity bills.Dr Donovan Moxey said: “The spikes in the c
Shell eyes power plant's 'synergies' on LNG bunkering
SHELL North America’s proposed multi-fuel power plant for New Providence will provide “natural synergies” for liquefied natural gas (LNG) bunkering, a senior executive says.Mark Regis, Shell’s country chair for the English and Dutch Caribbean (exclud
