$100m BOB bail-out borrow won't hit deficit
THE Government’s newly-announced $100 million borrowing to facilitate the Bank of the Bahamas bail-out will not add to this year’s deficit, a top official said yesterday.Marlon Johnson, the Ministry of Finance’s acting financial secretary, told Tribu
Chamber chief opposes Wal-Mart 'type' arrivals
THE private sector “like it or not” must be actively engaged in the Bahamian workforce’s training, the Chamber of Commerce’s chairman said yesterday, arguing that constant criticism is “inappropriate”.Mike Maura, delivering remarks at the Chamber’s ‘
Chief WTO negotiatorto 'fight' for retailers
GRAND Bahama has not been able to realise its full potential because potential exporters have no market access protection, the Bahamas’ lead World Trade Organisation (WTO) negotiator said yesterday.Raymond Winder, during a presentation at a ‘State of
'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.
