Illegal fisheries landing halt to spark 1,500 jobs boost
Bahamian economic output would expand by a further $65m, helping to create more than 1,500 jobs, if the largest categories of illegal and unreported fishing were converted into lawful landings.
Homeowner: They won’t Wynn ‘war of attrition’
The leading opponent of a 14-storey Goodman’s Bay penthouse project yesterday pledged he will not be ground down by the developer’s “war of attrition” and forced into selling his home.
Minnis challenging PM over Customs probe into ‘high ups’
Dr Hubert Minnis last night challenged the Prime Minister to reveal the findings of a probe into alleged smuggling involving senior Customs and Finance officials which has been “swept under the table”.
Businesses voice concern on new BPL rate structure
CONCERNS were voiced yesterday that Bahamas Power & Light’s (BPL) new rate structure could undermine economic competitiveness and increase inflation by raising energy costs for many businesses.
Revenues outpace $50m spending jump for April
THE Government yesterday unveiled a $36.2m fiscal surplus for April 2024 after a 29.7 percent year-over-year revenue increase outpaced a $50.3m jump in spending.
Grid handover for 40 percent
The government is set to hand over New Providence’s electricity grid to a private company in return for a 40 percent ownership interest in that entity, Tribune Business can reveal.
URCA: ‘No involvement’ in new BPL rate structure
THE Bahamian energy industry regulator yesterday said it had “no involvement” in developing Bahamas Power & Light’s (BPL) new rate structure that takes effect from July 1.
‘We’ve stopped complaining on high light bills. It’s terrible’
A prominent advocate for Bahamian small businesses yesterday said most of his clients and members have ceased complaining about high energy bills and power outages because it is “so normal”.
FOCOL chair: BPL deal is ‘real change’
FOCOL Holdings yesterday confirmed “a good portion” of the $70m recently raised from investors will finance its power generation deal with the Government, its chairman pledging: “This is real change.”
Insurer’s 2023 worse than expected in 72% profit fall
A Bahamian insurer yesterday said a “challenging” 2023 turned out worse than expected as profits plunged by almost 72 percent as a result of reinsurance cost hikes outpacing local premium increases.
Bahamian firms chosen for renewable contracts
Several Bahamian providers have been selected as preferred bidders to generate utility-scale renewable energy on New Providence and the Family Islands, it was revealed yesterday.
Energy reform’s $126m ‘game changer’ won’t occur overnight
The Government yesterday pledged Bahamas Power & Light (BPL) and its customers will ultimately enjoy $126m in annual savings through “desperately” needed energy reforms that “won’t happen overnight”.
BPL grid bidder seeks $30m Bahamian equity
THE company set to be charged with overhauling Bahamas Power & Light’s (BPL) electricity grid is seeking to raise $30m in equity from local investors, it has emerged.
Gov’ts $85.3m March surplus monthly record
The Government’s $83.5m fiscal surplus for March 2024 was the largest since monthly reporting began almost three years ago - driven by a mix of revenue gains and reduced spending.
‘No need for alarm’ over slowing Q3 tourism pace
The Bahamas Hotel and Tourism Association’s (BHTA) president says there is “no need to raise the alarm yet” over a slowing third quarter booking pace as the industry “normalises” back to single digit growth.
