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Water Corp debt to major supplier slashed to $15m

The Water & Sewerage Corporation managed to cut the debt owed to its main BISX-listed supplier by $3.3m in October after making zero progress during then first nine months of 2020.

Festival place demolition almost complete

DEMOLITIONS of the former Bahamas Customs Warehouse and Festival Place on Prince George Wharf are almost complete in the transformation of Nassau Cruise Port with construction set to begin at the end of the month.

FULL SEVERANCE PAY IS ‘DOUBLE EDGED SWORD’

A Cabinet minister yesterday argued it was a “double-edged sword” for companies to give furloughed workers full severance packages, as he urged persons to remain committed to their employers.

Property fund chief blindsided by BISX trading suspension

The Bahamas Property Fund’s administrator last night expressed hope that its trading suspension will be short-lived, having been blindsided by the stock exchange’s move.

'Banner' year gives payment provider national coverage

A Bahamian payment solutions provider aims to add a further five locations by the end of August, completing its nationwide coverage with 35 “touch points” following a “banner” first year.Barry Malcolm, Sun Cash’s chief executive, told Tribune Busines

'Feet to the fire' on hotel union's future

THE incoming hotel union president is targeting a new industrial agreement as priority, amid calls by one defeated rival to hold the leadership’s “feet to the fire”.Darren Woods, whose “Team Phoenix” won this week’s election, yesterday acknowledged t

Small business loans slow with $50m requests

Applications for the government’s COVID-19 small business recovery loan have collectively sought double the $25m initially allocated for the programme, it was revealed yesterday.Davinia Grant, the Small Business Development Centre’s (SBDC) director,

September eyed for temporary lay-off time extension

Government and private sector officials yesterday confirmed there is “much talk” about extending the temporary lay-off period to end-September to ease job pressures.John Pinder, pictured, the director of labour, and Peter Goudie, the Bahamas Chamber

Chisholm and Fox named to 40-man roster

A PAIR of top Bahamian prospects eligible for Major League Baseball’s Rule 5 Draft were named to the 40-man rosters of their respective clubs retaining their rights and protecting them from the draft. The Miami Marlins added and protected Jazz Chish

‘Missed generations’ now threaten farming

The Bahamas has “missed generations of farmers” by failing to attract young entrepreneurs to agriculture, a Cabinet minister said yesterday, warning that this threatens the sector’s sustainability.

Virgin ‘pacing ahead’ of Bahamas route forecast

Virgin Atlantic’s just-launched Bahamas route is already “pacing ahead” of forecast business volumes for its first six months, the country’s top tourism official said yesterday.

‘Unprecedented’: Inventory surge to hit market in 2019

A Bahamas-based realtor yesterday said residential sales had increased by 48 percent since 2014 ahead of what is expected to be “an unprecedented level of new inventory” hitting the market in 2019.

Local realtor marks its 70th anniversary

Bahamas Realty is marking its 70th anniversary this year, celebrating $10bn in property sales over a history so long it predates the birth of its own chief executive.

Govt placing $205m via two borrowings

The Government is placing $205 million in debt financing within a 16-day period prior to the credit rating agencies’ arrival in Nassau before July’s end.

Galanis backs calls for more details over Baha Mar deal

FORMER PLP MP Philip Galanis yesterday echoed the Official Opposition’s criticism of the “drip drip” pace of details concerning the remobilisation and future sale of Baha Mar, and added to growing concerns over the apparent rise in Chinese influence.

DNA adviser pushes for tax, exchange reforms

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Bahamas should move towards changing its tax structure and explore an alternative system to exchange control, a well-known doctor and financial executive said yesterday. Dr Jona

Are Wilson's 'shocking revelations' a political bluff?

FRANKLYN Wilson, reputed to be a clever businessman, persists in his mission to reverse ownership roles at Bahamas Telecommunications Company. Despite an ironclad contract, signed by the previous government, with Cable and Wireless Communications as majority shareholder of BTC, Prime Minister Christie has appointed Mr Wilson to head a committee to convince CWC to reverse ownership roles with his government.

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