Web shops: Unlicenced rivals exploit patron tax
Legal web shops yesterday expressed fears that unlicenced rivals are expanding to exploit the imminent five percent patron tax without any interference from impotent law enforcers.
Nation's 'vulnerability increases' via $750m foreign borrowings
The Bahamas’ “vulnerability” to global market changes has increased as a result of foreign currency borrowings accounting for more than one-third of government debt, Moody’s is warning.The international credit rating agency, in its annual in-depth an
Govt warned: Don't try running Grand Lucayan
The Government “must under no circumstances” get involved in operating the Grand Lucayan, a top hotelier warned yesterday, adding: “It’s not an attractive asset to buy.”Magnus Alnebeck, Pelican Bay’s managing director, told Tribune Business that whil
Ex-beauty queen accuses tourism of 'abusive tactics'
A former Bahamian beauty queen has accused the Ministry of Tourism of “abusive tactics” in a bid to scare her and other artists from seeking damages for “stolen works”.Khiara Sherman, pictured, the former Miss Bahamas Universe, is accusing the Minist
Small Business Centre inundated with demand
Some 600-650 persons have signed up for the proposed Small Business Development Centre’s (SBDC) services in the past fortnight, with sessions already extending into February 2019.Davinia Blair, pictured, the SBDC’s executive director, told Tribune Bu
New Development Bank chief named
The Government has named Dave Smith as the Bahamas Development Bank’s (BDB) managing director as the institution celebrates its 40th year anniversary.The Ministry, in a statement, said Mr Smith has already begun work to strengthen the BDB’s relations
BOB's $168m bail-out no 'near term' taxpayer fear
The $168m Bank of The Bahamas (BOB) bail-out is unlikely to become a liability for Bahamian taxpayers within the next three-five years, Moody’s believes.The international credit rating agency, in its annual in-depth analysis of the country’s economic
Chamber elects new directors
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has elected three new members to its board of directors with effect from July 12.The newcomer trio for 2018-2019 are:• Keith Beneby, Scotiabank (Bahamas) - director• Sandy Morley, BA
NIB unveils its new chairman
The Government yesterday confirmed that has been appointed chairman of the National Insurance Board (NIB).Mr Smith has 29 years’ experience in life and health insurance, having served in many management and executive positions. In recent years, his p
BPL boardroom battle sparks power outages
Bahamas Power & Light’s (BPL) former chairman was yesterday accused of exposing New Providence residents to power outages by blocking the purchase of critical parts.
Govt's Grand Lucayan deal to close Sept 11
The Government’s $65m Grand Lucayan purchase is due to close on September 11, with the Hotel Corporation’s chair pledging: “This is not going to be a haemorrhage of taxpayer funds.”Michael Scott, confirming the acquisition price remains the same as t
Moody's: Faith shaken in Bahamas' fiscal credibility
Moody’s yesterday revealed that faith in The Bahamas’ fiscal policy credibility had been shaken by the Government’s revelation of $760m in total unfunded arrears over the past two years.The credit rating agency, in its annual full country analysis, s
BPL Board turmoil delays Shell deal
Bahamas Power & Light’s (BPL) boardroom turmoil has already delayed completion of a deal to provide Nassau with cheaper, more reliable energy by a month, it was admitted yesterday.
BPL battle exposes governance reform need among SOEs
Governance reformers yesterday argued that the Bahamas Power & Light (BPL) board turmoil highlights why The Bahamas must overhaul how state-owned enterprises (SOEs) are run.
BPL outage performance 'better than any summer'
A Cabinet minister yesterday asserted that Bahamas Power and Light’s (BPL) performance this summer relative to power outages is “still better than any in the past”.Speaking outside Cabinet yesterday, Desmond Bannister, minister of works, said: “I’m h
