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BPL targeting $85m from local investors

Bahamas Power & Light’s (BPL) chairman yesterday voiced confidence that local investors will “fully subscribe” for the $85m portion of its upcoming bond issue that will be placed in this nation.

Tourism return to pre-COVID peak in 2023

The start of tourism’s revival has been “pushed back” beyond the peak winter season, the Central Bank’s governor warned yesterday, with a return to top performance not expected until 2023.

Fidelity's loan portfolio 'better than pre-Dorian'

A BISX-listed bank’s loan book has performed “better post-Dorian” than before the storm, a top executive revealed last night, adding that it has set an initial $26m profit target for full-year 2020.Gowon Bowe, Fidelity Bank (Bahamas) chief financial

Top soccer chief’s home tied to Cavalier wind-up

The $20m home belonging to the chairman of one of England’s top Premier League soccer clubs has emerged as a potential major recovery source for Cavalier Construction creditors.

Financial provider targets 100-worker expansion

A BAHAMIAN e-payments provider is planning to more than double its staff by adding 100 employees in 2018, believing it is “in the right place at the right time” for nationwide expansion.

Gov’t ‘blind’ to 75% deficit rise

The Government was yesterday urged to “take off the blinders” and curb its spending, with Opposition politicians describing the fiscal deficit’s 75 per cent expansion as “eerily similar” to the prior year’s performance.

Collapsed company suffers reversal in 13-year BTC fight

The Court of Appeal this week overturned permission granted to a niche telecoms provider to amend its claim against the Bahamas Telecommunications Company (BTC), whose “misfeasance in a public office” allegedly caused its collapse.

Arawak Port: Tough to match 157% profit rise

THE Nassau Container Port’s chief executive yesterday said it “will take something quite significant to repeat” 2017’s 157 per cent profits rise, which received a $1.1 million Baha Mar boost.Michael Maura told Tribune Business that Baha Mar’s remobil

Tourism softness: Nassau/PI room revenues off 7%

Hotel room revenues on Nassau/Paradise Island fell by 7 per cent year-over-year to end-July 2017, amid warnings of “sustained softness in tourism”.The Central Bank of the Bahamas, in its monthly economic report for August, said data from a group of m

Tourism flat-lines as yields off 28% since millennium

A 28 per cent decline in per tourist spending yields since 2000 has resulted in “no growth” this century in the Bahamas’ largest industry, the Minister of Tourism revealed yesterday.Dionisio D’Aguilar told the House of Assembly that the decline in pe

YOUR SAY: How long before the gates go up on Cabbage Beach? Is it time to buy?

In 2005, a jaw-dropping California court ruling sent shock waves through a crowd of Hollywood A-listers.

Budget to force price rise for healthy foods

Food stores will likely hike their non-breadbasket food prices due to the impact the new VAT exemptions will have on consumer behaviour, the Chamber of Commerce’s chairman is warning.Michael Maura told Tribune Business that the Budget effectively “in

INSIGHT: When the rubber meets the road

AS Bahamians continue to wrap their minds around the dramatic increase in what was already one of the highest costs of living in the world, the outlook is daunting. The government, unabashed by dissenting views inside and outside Cabinet, has shot do

WORLD CUP: Spain and Portugal qualify in thrilling climax to Group B

(Mirror.co.uk) Portugal qualified for the round of 16 at the World Cup despite being held 1-1 by Iran in World Cup Group B on Monday after Cristiano Ronaldo missed a penalty.

Banks are challenged over renewable energy lending

A Chamber executive has challenged Bahamian commercial banks to explain their reluctance to finance renewable installations, as homes and businesses continue to “bleed energy”. Debby Deal, head of the Chamber’s energy and environment division, questi

Budget 'fixed' unfair property tax anomaly

The government reformed the real estate “transfer tax” structure because it was “inherently unfair” to give companies preferential tax treatment over individuals on property purchases.KP Turnquest, deputy prime minister, pictured, told Tribune Busine

Property tax basis 'adds to social ills'

Real property tax is “contributing to a social ill” because it is calculated on real estate value rather than square footage, a well-known realtor is warning.Gino Maycock, a senior broker and appraiser at Colonial Realty, told Tribune Business that t

Bahamas 'cannot hold back tide' on Owner Registry

The Bahamas “cannot hold back the tide” on a beneficial ownership registry, the deputy prime minister arguing: “We must set the standard for ourselves and others.”K P Turnquest, pictured, explained that while the Government was listening to financial

Hotels 'push' on VAT amid 39% revenue growth

The 39 per cent increase in 2018 first quarter room revenues illustrates what was at stake when the hotel industry yesterday met the Government over its planned VAT hike.The Central Bank of The Bahamas’ monthly report for April, released last night,

Sands: No escape on fiscal 'come to Jesus'

The Bahamas would not have escaped its fiscal “come to Jesus moment” even if the Christie administration had been prudent with its VAT windfall, a Cabinet Minister argued yesterday.Dr Duane Sands, pictured, minister of health, told Tribune Business t

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