Margin ‘breathing room’ for 75% of dealers owing taxes
More than three-quarters of Bahamian petroleum retailers have gained sufficient “breathing room” from upcoming margin increases to settle their unpaid taxes, it was revealed yesterday.
Opposition attacks $203m ‘sinking funds’ draw down
The Opposition’s finance spokesman yesterday voiced concern that the Government used $203m set aside to cover future maturing foreign bonds to repay its “debt obligations” in the last fiscal year.
Sir Franklyn: Oil majors to seek own margin rise
FOCOL Holdings chairman last night signalled that the three oil majors will likely now push to increase their own gasoline and diesel margins “that have not changed in decades”.
$200m project ‘renews’ PI and creates 300 jobs
Hurricane Hole’s developer yesterday estimated its near-$200m investment to-date has likely created “around 300 jobs” while helping to renew Paradise Island’s attraction as a residential location.
Marinas set to join Parliament fuel protest on ‘viability threat’
Bahamian marinas yesterday said they will join tomorrow’s Parliament protest by petroleum retailers as the fuel industry’s price-controlled model is threatening “the viability of our sector”.
Bahamas ‘cornerstone’ for stem cell firm’s expansion
A stem cell provider yesterday branded The Bahamas “one of the cornerstones” for its global expansion plans as it unveiled ambitions to “double” its staff presence here within the next 12 months.
Citi: ‘No intent’ for job loss in JTC trust sale
Citigroup yesterday said it does “not intend” for there to be any job losses at its Bahamian Citi Trust subsidiary from selling that unit’s worldwide operations to rival financial services provider, JTC.
PM confirms gas margins increase
The Prime Minister last night said the Government has agreed to grant petroleum retailers their long sought-after margin increases they say are essential to the survival of their companies.
GB Power chief lost for words on rate pushback
Grand Bahama Power Company’s top executive is lost for words over why most customers are ignoring his pledge that 75 percent of them will see lower bills under its new rate structure.
Minnis challenges cruise power deal
An ex-prime minister is again voicing concerns that “the average Bahamian is being excluded” from opportunities to grow their wealth - this time through the newly-unveiled cruise ship ‘shore power’ deal.
Top developers accused of ‘weaponising’ covenants
A Bahamian engineer yesterday accused two of New Providence’s top developers of “weaponising” development restrictions in a bid to “control” other projects and potential competitors.
Gov’t to acquire five acres of controversial graveyard
The Government has moved to compulsorily acquire almost five acres of a 13-acre parcel targeted for the controversial development of a cemetery on Bernard Road, it was confirmed yesterday.
Over 200 apply for agri-food and tourism project
More than 205 applications have been received during the first seven months of an initiative designed to empower women entrepreneurs in the tourism and agri-food sectors.
Chamber urges lower tax to ease gas retailers’ pain
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has called on the Government to lower petroleum taxation as part of a compromise to give relief to gas station operators.
Residents optimistic on Eleuthera utility woe
Eleuthera residents are voicing cautious optimism that the Government is delivering on its promises to resolve the electricity and water outages that have plagued the mainland and Harbour Island for months.
