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Water park developer denies venture is a scam
THE purported developer of the first Bahamian-owned water theme park, Adventure World Discovering the Waters, yesterday defended his business from claims that it is not legitimate.
Baha Mar: Contractor action ‘disrupts’ talks
Baha Mar yesterday slammed its contractor for trying to “undermine and disrupt” negotiations to settle their dispute by seeking a speedy hearing of its bid to ‘freeze’ all Chapter 11-related actions.
Bank asset returns decline below 1%
Bahamian commercial banks have seen their collective return on assets slump below 1 per cent due to the ‘bad loan’ crisis, which has seen them turn increasingly to Government bond investments.
Gov’ts $100m homes scheme slammed as ‘fiscal schizophrenia’
The Government’s plan to finance the construction of 1,000 new homes through a $100 million Bahamas Mortgage Corporation (BMC) bond issue was yesterday described as “fiscal schizophrenia” by its immediate past chairman.
Tourism hopeful major strike damage avoided
The Bahamian tourism industry was yesterday hopeful that widespread, long-lasting damage from the Airport Authority strike may have been avoided even though most of the agency’s employees still failed to show for work.
Gas price crisis wiping out retailers’ profits
Bahamian gas stations say “no business operates” on the unsustainable seven percent gross margins they are enduring amid warnings the sector may have to cut jobs and operating hours to survive.
74% 'PERSONAL' CREDIT IMPEDES DEVELOPMENT
By NEIL HARTNELL Tribune Business Editor The Bahamas' development is being "seriously impacted" because its citizens are unable to invest in key productive areas, such as energy and transportation, due to almost 74 per cent of credit going on 'personal'
Gov’t denies BPL $5 late fee plans
The Government yesterday said it has “no intention of allowing Bahamas Power & Light” to impose an extra $5 charge on late-paying consumers and further burden struggling households.
Ashore - and more heading this way
IMMIGRATION officials are bracing themselves for an “influx of illegals,” according to Kirklyn Neely, head of the Immigration Department’s Enforcement Unit, who said the holiday season “usually sees about three to four” Haitian sloops illegally land throughout the islands.
Optimism rises on ‘palatable outcome’ for labour reforms
The Chamber of Commerce’s chairman yesterday expressed optimism that private sector representatives were making progress towards “a palatable conclusion” over the labour law reform controversy.
Employers wait anxiously on labour law revisions
Bahamian employers were last night anxiously awaiting the revised draft labour law reforms, the Chamber’s chairman acknowledging that the private sector needed to provide “empirical evidence” earlier in the consultation process.
Govt needs people who ‘understand business’
Negotiations over the Employment Act reforms went into last night, with one employer warning it would be “difficult to stay in business” until persons who understand the private sector enter Government.
Students stay put in China - for now
AS the government continues to closely monitor the deadly coronavirus in China, Foreign Affairs Minister Darren Henfield said yesterday that officials see “no real reason” to evacuate Bahamians studying in Wuhan.
Healthcare suffers $90m ‘massive blow’ in Dorian
A Cabinet minister yesterday revealed that Hurricane Dorian was estimated to have inflicted $90m worth of damage on the public healthcare infrastructure, describing it as “a massive blow”.
Gov’ts $62m property tax amnesty write-off
The Government wrote-off $62m in outstanding real property taxes to gain just $37.5m in extra revenue via its recent amnesty initiative, it was revealed last night.
Petition targets PM on $580m Abaco project
Opponents of a $580m south Abaco resort project have launched an online petition that has amassed 767 signatures in just over one week against the development.The petition, started by Sustainable South Abaco and aimed at the Prime Minister, warns tha
Hilton sale decision by month's end
The British Colonial Hilton’s owners will decide by month’s end which of the three bids to acquire Bay Street’s ‘anchor property’ they will accept, Tribune Business can reveal.
BPC's share price 'affected by both govt's stances on oil drilling'
SHARE prices at the London-listed Bahamas Petroleum Company have been negatively affected by both government’s stances on oil drilling, company CEO Simon Potter said – adding that the prices will rise if oil is found and that shares will be available to Bahamians in “the next few months”.
Spanish chain takes over from Sheraton
BAHA MAR yesterday announced it had reached an agreement with the Spanish chain, Meli� Hotels International, to become the new brand/operating partner for its 694-room Cable Beach property, ending the current relationshi with Starwood Hotel & Resorts’ Sheraton.
'Full WTO membership needed to help compete'
Minister of Financial Services Ryan Pinder said recently that full membership and compliance in the World Trade Organisation (WTO) is necessary if Bahamian producers would like to compete on an even field with other international producers.
