'Alarming increase' in scams warning
Bahamians face being “hit very hard in the pocket” from an “alarming increase” in potentially fraudulent transactions, a local money transfer business warned yesterday.Harvey Morris, Omni Financial Group’s chief executive, told Tribune Business that
Gov't urged: Focus on distressed homes for housing recovery
THE Government has been urged to focus on distressed properties, rather than new housing developments, in its “daunting task” of reviving the Bahamian mortgage market.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) president, told T
'Labour on Blocks' event registers 2,500 job seekers
THE Department of Labour has registered 2,500 job seekers through its ‘Labour on the Blocks’ events, as it moves to aggressively dent the Bahamas’ 10 per cent unemployment rate.Robert Farquharson, director of labour, told Tribune Business yesterday t
BPL to invest $4-$5m in Abaco ‘hardening’
BAHAMAS Power & Light (BPL) will invest $4-5 million in “hardening” its Abaco network prior to peak summer demand, in a bid to prevent outages that have frequently plagued the island.
'Unnerving' Abaco power woes end after four days
BAHAMAS Power and Light (BPL) restoration of full power to Abaco following four days of “unnerving” outages was greeted with relief yesterday as businesses and residents began to determine the cost.Darnell Osborne, BPL’s chairman, told Tribune Busine
Business Outlook to focus on GB revival
THE 20th Grand Bahama Business Outlook conference will focus on how to revive the island’s economy when it is held at the Grand Lucayan resort tomorrow.Joan Albury, president of The Counsellors (TCL), and founder of the seven-island Business Outlook
Arawak port joins in BP&L LNG bid
Arawak Cay’s port operator has joined a bid to supply Bahamas Power & Light (BPL) with liquefied natural gas (LNG), as it seeks to diversify from 100 per cent reliance on cargo shipping.
Proper governance needed to protect multi-million MPAs
THE multi-million dollar benefits generated by the Bahamas’ Marine Protected Areas (MPA) will be endangered unless proper management systems are implemented, a study has warned.An economic valuation of ecosystems in the Bahamas’ 40 MPAs, conducted fo
$5.5bn refinery: 80% of jobs for Bahamians
THE developer behind the proposed $5.5 billion oil storage terminal and refinery for Grand Bahama yesterday pledged that 80 per cent of jobs will go to Bahamians. Peter Krieger, Oban Energies’ non-executive chairman, speaking at the signing of a Memo
Abaco's power woe 'too much' to bear
FED-UP Abaco businesses yesterday blasted the island’s latest power crisis as “too much” to bear, with visitors leaving or “threatening to leave” due to the extended outages.Don Cash, a Hope Town council member whose company manages between 115-120 v
Insurers challenge Gov't over 'rewriting the rules'
THE Bahamas Insurance Association’s (BIA) chairman yesterday again challenged the Government’s desire to “rewrite the rules” on the industry’s anti-money laundering requirements.Emmanuel Komolafe told Tribune Business that his own “extensive research
Aliv capital raising ‘3x oversubscribed’
Aliv’s $15 million capital raising has been more than three times’ oversubscribed with a full working week left before closing, its advisers have revealed.
DPM: 'Don't bully' Tax Department
THE Deputy Prime Minister has pledged to review the property tax valuation system’s accuracy, while warning Bahamians and residents: “Don’t bully the taxman.”K P Turnquest told Tribune Business that aggrieved taxpayers needed to use the appeals proce
'Amazed' at auto imports 29% higher than budget
THE Nassau Container Port’s (NCP) operator is “amazed” at auto import volumes that are 29 per cent above forecast, as it unveiled half-year profits slightly ahead of expectations.Michael Maura, Arawak Port Development Company’s (APD) chief executive,
Fidelity targeting 10% profits rise
FIDELITY Bank (Bahamas) is targeting 10 per cent profits growth for 2018, following a year in which the “cost of business” exceeded staff payroll and benefits.Gowon Bowe, the BISX-listed institution’s chief financial officer, told Tribune Business th
