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Andros shipper ‘exceeds every financial projection’

An Andros shipping company, which in summer 2021 was hailed as the largest recipient of financing arranged through the Small Business Development Centre (SBDC), yesterday said it has “beaten every financial projection” since launching.

WNBA: Jones and Sun lose opener

GRAND Bahamian native Jonquel Jones and her Connecticut Sun suffered a heart-breaking loss to the New York Liberty as they opened their Women’s National Basketball Association 2022 season on Saturday.

Govt rejects Moody’s deficit financing fears

A top Ministry of Finance official yesterday rejected an international rating agency’s concerns that the government may not be able to finance its massive borrowing needs for the 2021-2022 fiscal year.

Labour reforms get ‘far greater balance’

The private sector was able to achieve “far greater balance” on the labour law reforms passed by the Senate yesterday, the Chamber’s chairman saying “all parties” had accepted its cost-related concerns.

Redundancy ‘cap’ raise by 2/3 to ‘cripple’ firms

Removing the Employment Act’s ‘cap’ on redundancy pay will “cripple and/or bankrupt most businesses” in the Bahamas, the Chamber of Commerce has warned, resulting in mass lay-offs and company closures.

Govt 'fully draws down' $190m loan

The government has “fully drawn down” a $190m syndicated loan led by Royal Bank of Canada (RBC) that will finance post-Hurricane Dorian reconstruction, it was revealed yesterday.Marlon Johnson, the Ministry of Finance’s acting financial secretary, to

IMF calls for ‘tax spending budget’

The International Monetary Fund (IMF) has urged The Bahamas to develop an annual “tax expenditure budget” to better identify revenue leakages and assess the economic impact of its spending.

Bank governor eases 2022 growth forecast

The Central Bank’s governor yesterday moderated his 2022 economic growth projection to “over 5 percent” with the tourism industry not returning to pre-COVID levels in the year’s first half.

Bad weather may ‘knock 10-15% off’ for marinas

The Association of Bahamas Marinas (ABM) president yesterday voiced fears that anticipated bad weather may “knock 10-15 percent off” visiting boater traffic this Thanksgiving holiday.

Raising ‘Freeport out of the ashes’

The Government and Grand Bahama Port Authority’s (GBPA) owners were yesterday warned the latter’s 3,000 licensees must “have a say” over any changes to its ownership and Freeport’s founding treaty.

FAMILIES STILL DEALING WITH DORIAN

NEARLY three years after the passing of Hurricane Dorian some victims are still trying to regain a sense of normalcy after surviving the monster storm.

'Improve service quality before rolling out 5G'

Bahamian businesses and consumers want their communications providers to first focus on improving the quality and reliability of existing services before exploring the introduction of 5G (fifth generation) technology.

Aggregate miner targeting 'full' $125m Andros spend

An aggregate mining and land reclamation development, featuring a $15m-$20m first phase investment and creation of 35 jobs, is among three “very different and separate projects” currently targeting North Andros. Cameron Symonette, The Symonette Grou

Ex-minister 'totally opposed' to web shop taxation hike

The ex-Cabinet minister who oversaw the web shop industry’s legalisation yesterday queried why it was being hit with “destructive” taxation despite meeting all its obligations to date.Obie Wilchcombe, the former minister of tourism, told Tribune Busi

Small Business Agency in 20% operating expense cap

The proposed Small Business Development Agency (SMEDA) can only allocate 20 per cent of its funding to cover operational expenses, freeing “no less than $8 million” per year to assisting Bahamian entrepreneurs.

Education woes leave ‘blind leading blind’

The Bahamian education system’s woes have created sub-standard management throughout the Government and private sector, resulting in “the blind leading the blind”.

Water Corp needs 'topup' 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

Central Bank mortgage ease may not have instant impact

A realtor yesterday hailed the Central Bank's bid to help more persons "accomplish the Bahamian dream" although he warned the impact may not be felt instantly.

Gov’t and Opposition fight on GDP growth

THE Government and Opposition yesterday battled over what real GDP growth that fell below expectations for 2023 means for The Bahamas’ short-term economic prospects.

Environmental nod 'huge milestone' for oil explorer

A Bahamas-based oil explorer yesterday hailed the receipt of all necessary environmental approvals from the government as “a massive milestone” towards drilling its first exploratory well.Simon Potter, pictured, the Bahamas Petroleum Company’s (BPC)

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