Grand Lucayan's financing needs may hit $124m
The Grand Lucayan’s total capital financing needs, inclusive of the $65m purchase price, could almost double to $124m, the deputy prime minister revealed last night.K Peter Turnquest, concluding debate on the guarantee needed to secure $35m in acquis
'Act of cruelty' if govt ignored Grand Lucayan
A Cabinet Minister yesterday warned it would be “an act of cruelty and neglect” to allow the Grand Lucayan to become another Royal Oasis, with Freeport’s air arrivals down 56 percent in two years.Dionisio D’Aguilar, minister of tourism and aviation,
Grand Lucayan buyer: 'I admit I was asking a lot'
The Grand Lucayan’s last potential buyer yesterday confirmed he sought a 20 percent electricity rate discount and hundreds of work permits, saying: “I’m not denying I was asking a lot.”Paul Wynn, the Wynn Group’s chief executive, told Tribune Busines
'Legality' cleared up: New web shop taxation in effect
The web shop industry’s “sliding scale” tax structure took effect on Wednesday following changes to address operator concerns over its legality, a cabinet minister revealed yesterday.Dionisio D’Aguilar, minister of tourism and aviation, told Tribune
Only trim the tree for valid reasons
MANY employers struggle over whether or not to terminate employees who have proven themselves liabilities rather than assets. This struggle is perhaps linked to a number of factors, including the size of the talent pool; concern for the individual’s
Chamber, Govt focus on trade with harvard
Chamber of Commerce executives and Government officials participated in the Harvard Programme to help prepare for the World Trade Organisation (WTO) accession and other trade issues.They heard from Harvard trade economists and policy experts about im
Eighth 'Labour on the Blocks' set for Saturday
The Department of Labour is holding its eighth “Labour on the Blocks” job fair tomorrow at CV Bethel High School on East Street South.Staff from the Department and 22 businesses, including cruise ship recruiters and training companies, will be presen
Minister lauds poultry's 'huge' growth potential
A Cabinet minister yesterday lauded the domestic poultry sector’s growth potential as “huge” given that it currently supplies just 15 percent of the Bahamian market.Michael Pintard, pictured, minister of agriculture and marine resources, addressing t
DPM: 'Reimagine' the economy from scratch
The Deputy Prime Minister has urged Bahamian entrepreneurs to “reimagine the economy” and how they would create industries such as tourism “from scratch” today.K Peter Turnquest, speaking at the Millionaire’s Mile Fireside Chat, an event held to mark
Opposition pegs Grand lucayan cost at $100m
The Opposition’s deputy leader yesterday estimated that the Government’s Grand Lucayan purchase will ultimately cost Bahamian taxpayers “at least $100m”, branding the deal “ill-advised”.Speaking in the House of Assembly yesterday, Chester Cooper, pic
Hutchison escapes $3.25m tax on Grand Lucayan sale
The Government was “too nice” in allowing Hutchison Whampoa to exit its Grand Lucayan debacle without paying $3.25m in Stamp duty and pocketing other payments/concessions.
Bahamas ‘in good shape’ over WTO’s 15% tariff demand
The Bahamas’ “is in good shape” to lower its average tariff rate to the 15 percent demanded by the WTO, its chief negotiator said yesterday, describing this as a “good deal” for consumers.
Crypto, ICO rules completed within ‘the next 30 days’
A regulatory framework to facilitate initial coin offerings (ICO) and crypto currency exchanges in The Bahamas could be completed within 30 days, Government’s technology “hub” chairman said yesterday.
Oil explorer shrugs off end to ‘exclusive’ talks
A Bahamas-based oil explorer yesterday said it was now locked in joint venture talks with “multiple parties” after a “major global oil company” ended their exclusive negotiations.
No PI bridge toll rise to end $6.7m deficit
The Paradise Island Bridge Authority yesterday expressed optimism it will wipe out the $6.676m deficit in its bond repayment fund by the 2019 year-end target without having to raise toll fees.
