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BOB’s threat to Govt ‘contained for now’ - Moody’s

The Government has “contained for now” the fiscal dangers represented by the $300 million-plus Bank of the Bahamas (BOB) bail-out, Moody’s believes.

Ginn developers eyes ten-year VAT 'deferral'

The $2.8bn developer of the former Ginn project may be in line for a ten-year VAT “deferral”, two decades of property tax breaks and “special fuel concessions”, according to leaked papers.A draft copy of the Government’s heads of agreement with Skyli

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Tennis nationals: Cartwright regains ladies' title

KERRIE Cartwright knew that if she wanted to regain her ladies title in the Bahamas Lawn Tennis Association’s 2019 Giorgio Baldacci National Open Tennis Tournament, she would have had to play her best against defending champion Sydney Clarke. As the

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Roberts and Major Jr reuniting for Davis Cup

THEY haven’t played against each other since they were juniors. But now that they are all grown up and playing on the professional circuit, Justin Roberts and Kevin Major Jr are reuniting to play together for the first time as members of the Bahamas’

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DPM pledges to 'speed up' small business Dorian relief

The government is aiming to “speed up” financial help for Dorian-hit businesses, the deputy prime minister said yesterday, although its $10m facility is likely to meet less than 25 percent of their needs.K Peter Turnquest told Tribune Business the pr

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Dorian debris clear needs big 'ramp up'

Abaco’s Chamber of Commerce president yesterday called for post-Dorian debris removal to be “ramped up significantly” given the huge obstacle it presents to the island’s reconstruction. Ken Hutton, pictured , told Tribune Business that the authoriti

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Consumers told to brace for ‘adjustment’ to BPL bills

Electricity consumers were yesterday told to brace for an "adjustment" to their bills via an extra charge as Bahamas Power & Light (BPL) confirmed plans for its mammoth $650m-plus refinancing.

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DPM: 'Govt running as fast as we can'

The deputy prime minister yesterday said the government was “running as fast as we can” to support Bahamians and the private sector with more than $100m in COVID-19 financial aid.K Peter Turnquest urged the private sector to have patience with the ne

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NIB facing three times' its annual claims volumes

The National Insurance Board (NIB) has just days to process three times’ the number of benefits claims it receives in a typical year due to the COVID-19 crisis, a Cabinet minister said yesterday. Brensil Rolle, minister of the public service and nat

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Economy may contract by 'mid to upper teens'

The Bahamian economy may shrink by between 15-19 percent this year with a fully recovery of COVID-19 losses not occurring until 2022, the Central Bank’s governor warned yesterday.John Rolle, in a bleak near-term assessment of the country’s post-pande

Cruise port chief in 'guarantee' on bond's success

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.Mehmet Kutman, Global Ports Holding’s chairman, told

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Govt plans civil service 'freeze'

The government is planning to freeze all civil service hirings, promotions and salary increases in a bid to limit the size of a potentially massive 2020-2021 fiscal deficit, it was revealed last night.Kimsley Ferguson, the Bahamas Public Service Unio

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Just 1,300 enrol for BPL late bill plan

Some 90 percent of Bahamas Power & Light (BPL) customers facing disconnection last night remained in danger of having their electricity cut-off as the utility seeks to recover a $46m debt.

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Sebas extends his Titans following $750,000 raise

Sebas Bastian’s securities house has extended the offering period for its Titan funds by over two weeks after the flagship vehicle so far attracted 400 investors and $750,000 in subscriptions. Hillary Deveaux, Investar Securities chairman, yesterday

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Bank collapse fund at just 45% of $125m target

The fund protecting Bahamian depositors against bank failure contains just 45 percent of its desired $125m asset target, the IMF has revealed, as it called for the industry to pay more. The International Monetary Fund (IMF), in its just-released ass

Resort developer in Q1 2019 IPO target

A Bahamian-led developer yesterday expressed hope its planned BISX listing in 2019’s first quarter will “change attitudes” towards local investment in the country’s largest industry.Sir Franklyn Wilson, pictured, head of Eleuthera Properties,

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'Job half finished' over Dorian zone tax breaks

The Abaco Chamber of Commerce's president yesterday urged the Government to "revisit" its decision to keep VAT on services in the Dorian-hit islands, arguing it had left "the job half finished".

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More questions raised over BPL fuel hedging

Bahamas Power & Light (BPL) yesterday rejected accusations that the Davis administration had cancelled its fuel hedging initiative even though it was not producing the desired financial savings.

Sale of Doctors’ new GB home in November close

The sale of Doctors Hospital’s new Freeport home will represent the final asset disposal for a former BISX-listed company when it completes next month, Tribune Business can reveal.

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‘No issues whatsoever’ on $2bn Gov’t roll over

The Ministry of Finance’s top official last night said he foresees “no issues whatsoever” over the Government’s ability to refinance $2bn in domestic debt coming due for repayment by June 2022.