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$14.5m bond keeps Mortgage Corp open

$14.5m bond keeps Mortgage Corp open By NEIL HARTNELL Tribune Business Editor The Bahamas Mortgage Corporation (BMC) has placed a $14.5 million bond vital to keep it operating, its chairman telling Tribune Business yesterday that "the public is going to

$14.5m bond keeps Mortgage Corp open

$14.5m bond keeps Mortgage Corp open By NEIL HARTNELL Tribune Business Editor The Bahamas Mortgage Corporation (BMC) has placed a $14.5 million bond vital to keep it operating, its chairman telling Tribune Business yesterday that "the public is going to

Skills transfer woe still a ‘sad reality’

The Bahamas must change “the sad reality” that key skills and knowledge are not being passed on to local workers by expatriate work permit holders, a prominent contractor argued yesterday.

ROAD PROJECT WAGES 50% BELOW 'NORMS'

By NEIL HARTNELL Tribune Business Editor Wages paid to skilled Bahamian tradesmen by the main New Providence Road Improvement Project contractor were around 50 per cent below market norms, the Bahamian Contractors Association's (BCA) president said yeste

ROAD PROJECT WAGES 50% BELOW 'NORMS'

By NEIL HARTNELL Tribune Business Editor Wages paid to skilled Bahamian tradesmen by the main New Providence Road Improvement Project contractor were around 50 per cent below market norms, the Bahamian Contractors Association's (BCA) president said yeste

ROAD PROJECT WAGES 50% BELOW 'NORMS'

By NEIL HARTNELL Tribune Business Editor Wages paid to skilled Bahamian tradesmen by the main New Providence Road Improvement Project contractor were around 50 per cent below market norms, the Bahamian Contractors Association's (BCA) president said yeste

Income-type tax ‘likely inevitable’, warns ex-minister

A FORMER financial services minister believes it is “probably inevitable” that the Bahamas will have to introduce some form of low-rate income tax, warning: “We’re not in the clear yet.”

S&P: Gov’ts fiscal, economic reforms ‘will take time’ to work

* 1.5% average growth forecast lower than IMF’s * Grand Lucayan closure takes out 7% of rooms * Debt to rise through 2020 to 52% of GDP

THE Government’s fiscal and economic reforms will take time to “pay dividends”, Standard & Poor’s (S&P) warned yesterday, as it took a more ‘bearish’ view of the Bahamas’ growth prospects. The rating agency, in its latest Bahamas country assessment, expressed confidence that the Minnis administration’s fiscal reforms will “arrest the deterioration” in the Government’s deficit and the national debt.

‘Lessons must be learnt’ from Baha Mar’s chinese woe

Lessons must be learned from Baha Mar’s construction woes to ensure other Chinese-led investment projects avoid similar delays, a leading contractor yesterday noting the same company is poised to begin the British Colonial Hilton’s $200 million redevelopment.