Split sparked by row over power generation
Bahamas Power & Light’s (BPL) Board split was sparked by disputes over generation technology for the new, low-cost power plant and executive appointments, Tribune Business can reveal.
BTC revenue revival after 10k client loss
The Bahamas Telecommunications Company’s (BTC) owner is targeting a 2018 second half turnaround for its slumping top line, after it lost another 10,400 mobile customers due to “competitive intensity”.Balan Nair, Liberty Latin America’s (LiLAC) chief
$10m damages against Bimini developer upheld
A damages award of $9.67m has been upheld against the Bimini Bay resort’s original developer over its demolition of a tenant’s beach club in defiance of a Supreme Court order. The Court of Appeal, in a 2-1 majority verdict, reinstated $6.8m in “gener
Ginn developers eyes ten-year VAT 'deferral'
The $2.8bn developer of the former Ginn project may be in line for a ten-year VAT “deferral”, two decades of property tax breaks and “special fuel concessions”, according to leaked papers.A draft copy of the Government’s heads of agreement with Skyli
Owning home 'impossible for some' after hike
The VAT rate increase has made home ownership “almost impossible for some and a lot harder for others”, a prominent developer said yesterday.Franon Wilson, pictured, Arawak Homes president, told Tribune Business: “From where we sit right now, the dem
Auto repairers demand Japan report's release
THE Bahamian Auto Repair Association (BARA) yesterday called for the release of a promised report on Japanese auto import inspections, questioning if some industries have a “hidden agenda”.Dwaine Scavella, the BARA president, said: “What happened to
Union asks for BPL to bring back redundant staff on contract
BAHAMAS Electrical Workers Union (BEWU) president Paul Maynard yesterday suggested that Bahamas Power and Light (BPL) bring former employees back on contracts until they can be adequately replaced, telling this newspaper: “I’m tired of my members bei
Tourism numbers enjoy double digit growth
INTERNATIONAL arrivals to The Bahamas grew 10.2 percent year-to-date, according to statistics released by the Ministry of Tourism and Aviation (MOTA) yesterday.The ministry expects tourism growth to continue as bookings are up 6.7 percent over the Au
Architects call for govt to draw up plans for Family Islands
THE Institute of Bahamian Architects (IBA) is calling for a Family Island development plan to establish the parameters for development in the out islands, while backing calls for government to purchase Lighthouse Point in Eleuthera.The IBA in a state
Here's how to stop the ratings pendulum
CONCERNS over potential credit downgrades will become “a thing of the past” once this nation can realise real economic growth, a top private sector executive said yesterday, noting that commitments to improve the ease of business and transparency in
Wendy's time to move - but just down the road
WENDY’S Bahamas is set to relocate its Mackey Street restaurant next month, its franchise operator telling Tribune Business “upwards” of $1.7m had been invested in the new outlet. Terry Tsavoussis, who heads Aetos Holdings along with his brother Chri
LAUNCHED: Dept of Labour investigates Club Land'Or debacle
LABOUR Minister Dion Foulkes yesterday confirmed he has launched an investigation into claims workers at Club Land’Or are not being paid, stating: “If you work you should be paid”. Speaking with Tribune Business, Mr Foulkes said: “I actually met pre
Symonette: 'Public needs to be cautious' with ATMs
FINANCIAL Services Minister Brent Symonette said yesterday that Bahamians will have to exercise greater “caution” when utilising ATMs, calling the recent Royal Bank of Canada “skimming” incident “unfortunate”.Mr Symonette said that while the incident
Growth targets could be "very difficult" to reach
THE Government will find it “very difficult” to hit its projected growth targets given the impact of the value-added tax (VAT) rate rise and steep expenditure cuts, a former finance minister has suggested.James Smith, also a former Central Bank gover
Peak periods only pressure on flight availability to Exuma
THE Ministry of Tourism and Aviation said yesterday the total number of international airline seats available to Exuma this year is “comfortably above” the number required to fill available rooms, while acknowledging challenges of “higher and higher
