Contractors urge better policing' of investments
THE Bahamian Contractors Association’s (BCA) president has called for stricter “policing” to ensure developers adhere to the terms of their Heads of Agreement.Leonard Sands, pictured, told Tribune Business that the BCA, which has repeatedly raised co
IDB: 20% NIB rates needed to avoid pension crisis
National Insurance Board (NIB) contribution rates must more than double to over 20 percent to prevent a long-term Bahamian pension crisis, it was revealed yesterday.The warning, which will likely be greeted with dismay by workers and employers alike,
33,000 real property defaulters sanctioned
The Government sanctioned around 33,000 real property tax delinquents in both 2015 and 2016, an OECD report revealing the scale of its struggles to collect all due revenue.The Organisation for Economic Co-Operation and Development’s (OECD) “peer revi
IDB: High 'petty' corruption endangers public services
High levels of “petty” corruption are undermining trust in public services, the IDB said yesterday, drawing on findings that 20 percent of Bahamians have been solicited for bribes.The Inter-American Development Bank (IDB), in its just-published 2018-
Freeport ‘gets short end of stick again’
An outspoken QC yesterday pronounced himself “discouraged” by Wynn Group’s ability to make progress in Nassau rather than Freeport, blasting: “We’ve got the short end of the stick again.”
Renewable provider blasts 'lip service'
A Bahamian renewable energy provider yesterday called for “real forward momentum” on achieving the National Energy Policy goals, saying: “We’ve been giving it lip service.”Guilden Gilbert, vice-president of Alternative Power Solutions (APS), told Tri
'Feet to the fire' on hotel union's future
THE incoming hotel union president is targeting a new industrial agreement as priority, amid calls by one defeated rival to hold the leadership’s “feet to the fire”.Darren Woods, whose “Team Phoenix” won this week’s election, yesterday acknowledged t
Blockchain summit targets 500 firms
The Government is targeting 500 international companies with next month’s Blockchain and cryptocurrency conference, the next step in its drive to establish Grand Bahama as a “technology hub”.Kwasi Thompson, pictured, minister of state for Grand Baham
New $50m power plant for Andros
A Bahamian-led consortium is bidding to develop a $40-$50m biomass-fuelled power plant in North Andros through a proposal featuring a tie-up with BAMSI.
Works minister seeks 'lot more funds' in Budget
The Minister of Works yesterday said his ministry needs “a lot more” money than presently allocated in next week’s Budget to address “hundreds of millions” in infrastructure needs.
Buyer: Grand Lucayan deal 'near finish line'
THE Grand Lucayan’s potential buyer yesterday said the long-awaited deal for the shuttered resort is “near the finish line”, as he blamed its complexity and “so many moving parts”.Paul Wynn, chief executive of Canadian-based developer, the Wynn Group
Fiscal Responsibility ‘ineffective’ without tougher sanctions
Fiscal Responsibility legislation could be “ineffective” without tougher sanctions due to “The Bahamas’ poor history of non-compliance with similar laws”, a civil society group warned yesterday.
One provider stalls 20% of beneficial owner requests
More than 20 per cent of beneficial ownership requests were not met by The Bahamas after a now-liquidated financial provider denied regulators access to the information.
RBC unveils 'contactless' payment technology plan
Royal Bank of Canada (RBC) yesteday unveiled plans to launch contactless payment technology for merchants across The Bahamas and the CaribbeanThe bank said point-of-sale devices will allow merchants to accept contactless-enabled payment cards, boosti
Ex-Bar president fears 'start of slippery slope'
A former Bar Association president yesterday expressed ‘concern’ over the Financial Transactions Reporting Act’s (FTRA) potential to breach attorney-client privilege, warning: “That’s the beginning of a slippery slope.”Wayne Munroe QC told Tribune Bu
