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Baha Mar admits to no redundancy cash

Baha Mar has admitted it “does not have sufficient cash” to pay its 2,400 employees due compensation should it have to make them redundant, as its $80 million financing facility has been blocked - at least for the moment - by Government and Chinese opposition.

‘Fortunate one-offs’ in $4m Fidelity boost

Fidelity Bank (Bahamas) chief executive yesterday conceded that its record-breaking 2015 profits may have been “fortunate”, after they received a $3-$4 million boost from ‘one-off’ events.

We're all getting in the Christmas spirit

IN a bid to improve their public image, a team of police prosecutors held a toy drive and luncheon last week for over 80 children at the Bahamas AIDS Foundation.

600 jobs expected as Minnis signs heads of agreement for $300m Abaco project

A HEADS of Agreement was officially signed yesterday between the government and Tyrsoz Family Holdings Ltd for a $300 million residential resort and marina in South Abaco, which will allow for the creation of 600 construction jobs on the island. Not

Make COVID-19 ease 'permanent', PM urged

The Prime Minister was last night urged to make his latest COVID-19 relaxation "permanent" after he gave retailers on the brink of closure a last-minute reprieve that may enable their survival.

PM’s Bermuda flight ‘reckless, negligent’

The Prime Minister’s Bermuda trip has flown into a fresh storm of controversy as the airline responsible is battling a $200,000 fine over accusations it operated the flight in a “negligent and/or reckless” manner.

PM tours construction site

PRIME Minister Dr Hubert Minnis and Minister of Tourism Dionisio D’Aguilar toured the Goldwynn boutique hotel construction site on West Bay Street yesterday. Construction on the $120 million project has resumed after a temporary stop due to COVID-19

Mark St Fort dominates with 38 points, Nesbitt in the win column

MARK St Fort’s transition to the Japanese B2 League has been a welcome change to the veteran swingman.

Businessman dies aged 83

FUNERAL services for Godfrey Egerton Lightbourn, 83, who died at Doctor’s Hospital on Thursday, October 10th, will be held at St. Andrew’s Presbyterian Kirk, Princes Street, on Saturday, October 19, at 10am.

DNA leader hits out over continuing landfill fires

DEMOCRATIC National Alliance (DNA) Leader Branville McCartney said the Bahamas will “lose out on potential investors and tourists” if officials do not get a handle on the frequent fires the New Providence Landfill.

Central Bank: Growth ‘very mild’ for 2016

The Central Bank of the Bahamas agrees with international agencies that the Bahamian economy “will continue to grow at a very mild pace in 2016”.

Banks’ ‘aggressive lending’ helped fuel $1bn in bad loans

“Aggressive lending practices” by Bahamian commercial banks pre-recession has been cited by Moody’s as one factor behind “chronically high” non-performing loans totalling $1.028 billion at end-July 2014.

Louis Bacon wins conservation award

DECLARING that his “bold actions were inspiring others to protect and steward their lands,” the Land Trust Alliance (LTA) this month presented one of its highest and rarest honours to philanthropic conservationist Louis Bacon.

Power cuts to go on - if $200m isn’t spent

CUSTOMERS will continue to suffer power outages if Bahamas Power and Light does not get $200m to turn it into an efficient power-generation entity, a former Cabinet minister told The Tribune yesterday.

BOB independent director choice an ‘arduous process’

Bank of the Bahamas yesterday gave its 35 per cent minority shareholders just one week to select independent director candidates, who must comply with a strict qualifying criteria.

Gov’t plans to narrow VAT payment window

The Government yesterday unveiled plans to shrink the Value-Added Tax (VAT) payment window by seven days, and other revenue enforcement measures, amid the numerous tariff rate cuts consistent with a pre-election Budget.

Ayton and Suns eliminated

PHOENIX (AP) — Luka Doncic scored 35 points, Spencer Dinwiddie added 30 and the Dallas Mavericks stunned the top-seeded Phoenix Suns with a 123-90 Game 7 blowout last night, advancing to the Western Conference finals for the first time since 2011.

A reckless promise that might founder

TUESDAY’S first cabinet meeting of the newly-elected PLP government, marked Day One of its first 100 days of governing, Prime Minister Perry Christie announced. Day One was also marked with a warning salvo from Moody’s Investment Services, one of three major credit rating agencies.

$2m safety margin for City Markets pension fund

THE value of the City Markets' staff pension fund's main asset "supersedes" what is owed to plan beneficiaries by some $2 million, one of its trustees saying yesterday that he hoped to conclude a deal for its sale "within the next week".

Young DJs show versatility

THE four young Bahamian deejays, part of were born in the 90's. Yet, their knowledge of a wide range of musical genres extends as far back as the 50's. THEY were born in the 1990s, but their knowledge of music goes

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