Insurance cover 'did not pay off' post-Matthew
THE Inter-American Development Bank (IDB) has backed industry calls to eliminate VAT on property and casualty insurance, as many policies “did not pay off” following Hurricane Matthew.The bank, in its assessment of the economic damage and loss inflic
Irma to widen deficit by $44m
HURRICANE Irma-related reconstruction is expected to widen the 2017-2018 fiscal deficit by $44 million, the Inter-American Development Bank (IDB) has warned.The multilateral lending institution, in its assessment of the economic loss and damages infl
Fishers Alliance not opposed to Oban
MANY fishermen are not opposed to the $5.5 billion Oban Energies oil refinery and storage terminal project, the Bahamas Commercial Fishers Alliance’s (BCFA) president said yesterday.Adrian LaRoda told Tribune Business that the Bahamas should seek to
Private sector 'can't sit still' on energy solutions
THE private sector has been urged to drive green energy solutions for the Bahamas, a Chamber of Commerce executive arguing: “Sitting still gets us nowhere.” Debbie Deal, head of the Chamber’s energy and environment division, told Tribune Business tha
Fishermen eye 'bigger' 2019 crawfish season
BAHAMIAN fishermen are already looking towards a “bigger” 2019 crawfish season, the Bahamas Commercial Fishers Alliance’s (BCFA) president yesterday confirming this year “did not turn out as bad as expected”.“I think we did OK,” Adrian LaRoda told Tr
Nassau airport operator unveils new scholarship
VANTAGE Airport Group, which manages both Lynden Pindling International Airport (LPIA) and Greater Moncton Roméo LeBlanc International Airport, has introduced a new aviation scholarship. The Rob Robichaud Vantage Airport Group Scholarship offers $9,0
DPM slams 'unfounded' corporate taxation fears
The Deputy Prime Minister has slammed as “very much unfounded” fears that the Government will be able to introduce corporate taxation with little to no warning.K P Turnquest, responding to growing concerns over the proposed legislative response to th
Bahamas facing 'hard choices' on $710m storm woe
THE Bahamas has been warned that “the era of tough choices has arrived” after Hurricanes Matthew and Irma caused a combined $710 million in economic damages and loss.The Inter-American Development Bank (IDB), in two separate 100-plus page reports on
New auto dealers: 'If you can't beat them, join them'
BAHAMIAN auto dealers are adopting an “if you can’t beat them, join them” approach after new vehicle sales declined by almost 25 per cent for the first two months in 2018.Fred Albury, the Bahamas Motor Dealers Association’s (BMDA) president, told Tri
QC backs income taxes to ease ‘rich/poor divide’
AN outspoken QC is backing the introduction of corporate and personal income taxes as a way to reduce “the gulf between rich and poor” in the Bahamas.
Small Budget surplus achieved for January
THE Government appears to have posted a small $7 million Budget surplus for January, with the deficit for the first seven months of 2017-2018 pegged at $191.3 million - a 39 per cent drop.The Central Bank of the Bahamas’ economic report for February
Andros plaza blaze puts 21 out of work
A FIRE that completely destroyed the Butler’s Plaza in San Andros has left the community “devastated” and in “shock”, with 21 persons out of work as a result. “This is horrific,” said Ambika Cooper, a director with the Andros Chamber of Commerce. “I
Taxi union president: Plate leasing to stay
BAHAMIAN taxi drivers continue to face competition from hotels providing ground transportation to their guests off-property, their union president is alleging.“You still have hotels who are operating in the ground transportation sector, taking guests
National Trust defends Exuma anchorage fees
THE Bahamas National Trust (BNT) yesterday said the recent adjustment in anchorage fees at the Exuma Cays Land and Sea Park (ECLSP) was necessary to help maintain the park in the face of annual financial shortfalls.The Park costs $500,000 per annum
BISX declares its first-ever dividend
The Bahamas International Securities Exchange (BISX) has declared the first dividend in its near-20 year history, its chief executive joking yesterday: “This has made my job harder.”Keith Davies, BISX’s chief executive, told Tribune Business that the
