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GB POWER PLANT 'OVER 60% DONE'

By NEIL HARTNELL Tribune Business Editor Grand Bahama Power Company yesterday said its new generation plant is "more than 60 per cent complete" after a $40 million investment to-date, as the BISX-listed company that holds 50 per cent of its equity unveil

Water Corp needs 'top up' to $20m subsidies

Water Corp needs 'top up' to $20m subsidies By NEIL HARTNELL Tribune Business Editor The Water & Sewerage Corporation will "definitely need" an increase to the existing $20 million taxpayer subsidy allocated to it for the 2011-2012 fiscal year, its gene

Profits triple as BAF's 'sleeping giant awakes'

Profits triple as BAF's 'sleeping giant awakes' By NEIL HARTNELL Tribune Business Editor BAF Financial's owners believe they have "awoken the sleeping giant" during their first five years at the helm, "tripling profits" and doubling total assets to $150

BTC owner dismisses Cable’s mobile threat

The Bahamas Telecommunications Company’s (BTC) controlling owner yesterday dismissed the competitive threat Cable Bahamas will pose if it wins the second cellular licence, saying it was “not a big player” when compared to the likes of Digicel.

Atlantis’s 4.5% Xmas rate rise beats hotel norm

Atlantis has seen a “quite substantial” 4.5 per cent year-over-year increase in average daily room rates (ADRs) for the upcoming peak Christmas/New Year season, a growth rate exceeding industry norms.

SKY'S THE LIMIT FOR $270K ROUTE INVESTMENT

By NEIL HARTNELL Tribune Business Editor Sky Bahamas expects to start seeing a return on its $270,000 investment in building its Marsh Harbour-West Palm Beach route in three months' time, telling Tribune Business it cost Bahamian-owned airlines twice as

Chamber chief says 'space for third mobile operator'

The Bahamas Chamber of Commerce's chief executive believes "there is space for another mobile player", and is urging the Government to issue a third licence come 2019.

Less than 1/4 of NIB pension recipients come from poorest 20%

By NEIL HARTNELL Tribune Business Editor Fewer than one in four Bahamians receiving a National Insurance Board (NIB) non-contributory pension come from the poorest 20 per cent of society, an Inter-American Development Bank (IDB) report disclosing that pl

Illegal netting threatens $1.5m bonefish investment

A Long Island bonefishing lodge owner says his $1.5 million investment and six jobs are being jeopardised by illegal netting, which threatens to “wipe out” the industry within the next five years.

Bahamasair reduces staff 12% in 5 years

Bahamasair reduces staff 12% in 5 years By NEIL HARTNELL Tribune Business Editor Bahamasair has reduced staff levels through "natural attrition" by more than 12 per cent over the past five years, Tribune Business was told yesterday, while improving its

Labour quality 'compromised' roads project

Labour quality 'compromised' roads project By NEIL HARTNELL Tribune Business Editor The Public Accounts Committee (PAC) yesterday accused the main contractor working on the $113 million New Providence Road Improvement Project (NPRIP) of using "poorly tr

Revived Mortgage Plan may assist ‘over 1,000’

The Government yesterday unveiled a revised Mortgage Relief Plan it believes could assist “upwards of 1,000 delinquent borrowers”, via a 20-25 per cent cut to monthly loan payments.

RENEWABLE ENERGY 'AMAZING CHANCE' FOR DIVERSIFICATION

By NEIL HARTNELL Tribune Business Editor The Bahamas has an "incredible opportunity" to diversify its economy by becoming a renewable energy exporter, a leading Caribbean expert yesterday saying it could emulate Israel's 92 per cent penetration rate if i

BAHA MAR'S OCCUPANCIES 3-4% ABOVE FORECAST LEVEL

By NEIL HARTNELL Tribune Business Editor While occupancies at Baha Mar's two existing Cable Beach resorts are trending 3-4 per cent ahead of 2012 forecasts, the resort developer yesterday said they had yet to reach "levels considered acceptable", followi

Corporate redress regime upheld with $33m verdict

The Supreme Court has prevented the Bahamas being perceived as “a parochial, quirky jurisdiction” for international business through its recent ruling on a $33 million insolvency dispute, a former attorney general said yesterday.