Water Corp ‘pursues’ first price increase in 20 years
The Water & Sewerage Corporation (WSC) is “pursuing” its first price hike in nearly 20 years in a bid to narrow a profitability gap where it covers barely two-thirds of its operating costs.
WSC chair still eyes privatisation
THE Water and Sewerage Corporation’s chairman yesterday reiterated “futuristic” plans to recommend that the utility be privatised or sold to Bahamian investors via an initial public offering (IPO).Emphasising that such ideas were for the long-term, A
Outsourcer to grow Freeport unit '100%'
A Caribbean-based outsourcer yesterday said its Freeport-based unit will “grow by an additional 100 percent” after securing a contract to serve US-based utilities.Formed in 2012, itelbpo has expanded its business process outsourcing (BPO) capabilitie
American Airlines adds Nassau flight
American Airlines began taking bookings at the weekend for the return of its year-round service between New York’s LaGuardia Airport and Nassau, which will resume on December 22.The carrier, in a statement, said it will operate a Saturday-only flight
BPL upgrades put back on $100m finance delay
Bahamas Power & Light (BPL) has been forced to push back key capital upgrades because of a near-six month delay in completing its $100m short-term financing raise.
URCA stands fast with controversial radio sector proposals
Commercial radio stations remain locked on collision course with their regulator over plans that could force some to change their broadcast frequencies and threaten investment in their brand.The Utilities Regulation and Competition Authority (URCA),
‘Critical’ BPL refinance more likely next year
Bahamas Power & Light’s (BPL) chairman has tempered her “very ambitious” target for completing its long-term financial restructuring, suggesting this may now occur in 2019.
Govt must show 'fortitude' on VAT break demands
The government must display “the fortitude” to resist unwarranted lobbying by industries and special interests that further undermines the VAT base, a top accountant has warned.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) preside
Social security reforms touched 27% of targets
Social security reforms achieved “none of their planned outcomes”, with just 27 percent of targeted Bahamian households receiving cash grants under an IDB-financed initiative.The Inter-American Development Bank (IDB), in an evaluation report on its B
Realtor fears Budget's dampening impacts
A Bahamian realtor fears the budget’s tax changes will dampen interest in high-end real estate and have a lasting impact on the luxury second home market.Monica Knowles, Bahamas Realty’s top producer in 2016, who less than two years ago saw what she
Airport enjoys 'busiest travel season' in history
THE Nassau Airport Development Company (NAD) is experiencing “the busiest travel season” in its history, with the biggest increase in business coming from the Canadian market.Jan Knowles, vice-president, marketing and communications, at NAD, told Tri
Fisheries poaching 'big money racket'
BAHAMIAN fishermen are urging the government to “get serious” and enact “stiffer penalties” against poachers, with one describing the problem as a “big racket”.Keith Carroll, vice-president of the Bahamas Commercial Fishers Alliance (BCFA), told Trib
Property tax basis 'adds to social ills'
Real property tax is “contributing to a social ill” because it is calculated on real estate value rather than square footage, a well-known realtor is warning.Gino Maycock, a senior broker and appraiser at Colonial Realty, told Tribune Business that t
Governance reformers optimistic over fiscal 'teeth'
Governance reformers yesterday expressed hope that the Fiscal Responsibility Bill has gained more enforcement “teeth”, branding its imminent arrival in Parliament a “momentous occasion”.Matt Aubry, the Organisation for Responsible Governance’s (ORG)
Bahamas targets 'leadership' over ownership registry
The deputy prime minister has reiterated the government’s desire to establish financial services “leadership” by setting the standard for beneficial ownership registries.K Peter Turnquest, in a recent interview with Tribune Business, said he did “not
