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New fiscal discipline is 'no magic bullet'
The Deputy Prime Minister is warning that today’s long-awaited release of Fiscal Responsibility legislation is no “magic bullet” for The Bahamas’ deep-rooted financial woes.Confirming that the Government will unveil its signature fiscal reform within
Gender and its implications after the winds have died
Irma has gone for good, José is still ruminating somewhere out there in the Atlantic and we still have a number of weeks left in the Atlantic Hurricane Season of 2017. That does not mean that an out-of-season storm could not churn up unexpectedly, however. At the moment we’ve all got our eye on Tropical Storm Maria which may be heading the Bahamas way.
'Negligent' BOB defeats ex-minister's $6m default
Bank of The Bahamas has defeated an ex-Cabinet minister’s bid to enforce a $6m default judgment against it despite being branded “careless and negligent” in its approach to the case. Stephana Saunders, the Supreme Court’s deputy registrar, found tha
Dorian to drive national debt to near $9bn
The Ministry of Finance’s top official last night said Hurricane Dorian had reinforced “why fiscal discipline is so important” even though it is set to drive the national debt to almost $9bn. Marlon Johnson, the acting financial secretary, told Trib
Auto parts suppliers: 'one day won't cut it'
Auto parts suppliers yesterday said being allowed to open one day per week during the COVID-19 pandemic “is not going to cut it” based on the heavy consumer demand all experienced.William Bastian, Big Six Auto Parts’ general manager, told Tribune Bus
Global Ports guarantees capital
Nassau Cruise Port's ultimate parent has pledged to "guarantee" the success of its $130m bond issue by covering any capital shortfall that may exist when the offering closes at the end of this week.
PM pledges no approval for Andros 'non-starter'
The prime minister’s pledge that the government “will not grant” permission for a free trade zone in North Andros was yesterday hailed as “very encouraging” by the Bahamas National Trust’s (BNT) top executive. Eric Carey, the Trust’s executive direc
Dorian forces insurer into first-ever reserve release
A Bahamian insurer yesterday revealed it made the first-ever “catastrophe reserves” release in its 25-year history due to Hurricane Dorian’s $200m-plus claims.Timothy Ingraham, Summit Insurance’s president, told Tribune Business that the property and
'Painful cuts' best fiscal response to virus pandemic
The government may have no choice but to respond to the coronavirus pandemic with “painful spending cuts” due to its lack of fiscal “headroom”, a prominent businessman warned yesterday.Sir Franklyn Wilson, pictured, the Arawak Homes and Sunshine Hold
Economy facing $1bn bodyblow, Turnquest tells House
DESPITE a projected total economic fallout of as much as $1bn from the COVID-19 pandemic, the government has announced several relief measures for workers in the tourism industry who will be most affected by the virus’ global impact.
Marinas 'chomping at bit' to lead re-opening
Bahamian marinas are “chomping at the bit” to re-open before the wider tourism industry in a bid to make multi-million dollar inroads into the lucrative yacht charter market, it was revealed yesterday.Dionisio D’Aguilar, minister of tourism and aviat
DIANE PHILLIPS: Welcome back, Tellis - now you have the toughest job of your life
Standards Inspector of Security Forces. It’s an impressive title and to the best of my knowledge had not been bestowed on anyone before July 1 when it was handed with all the layers it entails to the former Commander of the Royal Bahamas Defence Force, Tellis A Bethel.
INSIGHT: Why vilify Symonette? The white oligarchs were replaced by black ones who have failed us
This past week potentially marked former Minister of Financial Services, Trade and Industry and Immigration Brent Symonette’s last time in the Cabinet - and if we are brave enough to look ourselves in the mirror, it may be an instructive moment in our history.
DPM: No more VAT hikes before election
The Deputy Prime Minister yesterday pledged there will be no further VAT increase before the next general election, as he slammed “mischief” and “nonsense” spread by social media.KP Turnquest told Tribune Business that a further VAT rate hike would n
INSIGHT: We should teach our children to enjoy the ocean, not fear it
Only one in 100 government school students can swim, according to empirical data gathered by Andy and Nancy Knowles, the co-founders of the Let’s Swim Bahamas programme.
Harbour Island project boss sues for $1m
A bitter $1m legal battle has erupted between the developer of a controversial Harbour Island marina and its former project manager who has a history of convictions and run-ins with law enforcement.
‘Paying the price’ for BPL’s failings
A Cabinet minister yesterday warned that all Bahamians must now “pay the price” for Bahamas Power & Light’s (BPL) failings even as his House of Assembly address left more unanswered questions.
Make the next act the best
HAVING celebrated a bountiful 2019 with unprecedented record-breaking tourist arrivals. We reaped the benefit of its harvest for the first two months of 2020.
Office of the Spouse seeks greater protection for the nation’s children
ANN-MARIE Davis has committed the Office of the Spouse to working closely with the government, local non-profit groups and her CARICOM counterparts to bring more awareness and legislative proposals to offer greater protection for the nation’s children.
Bahamas First profiting in year-end turnaround
Bahamas First yesterday revealed it overturned a near-$1m loss for the first nine months of 2021 with a strong finish that left annual profits just 10 percent down on prior year levels.
