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100 Jamz celebrates 19 years of trend setting
OCTOBER 12 is celebrated annually as Discovery Day in the Bahamas, but it has special significance for another reason. The government broadcasting monopoly ended on October 12, 1993 when 100 Jamz became the country’s first private radio station.
Gov't, Central Bank 'sceptical' over interest rate cut boost
The Government and Central Bank are “sceptical” that further interest rate cuts will boost commercial bank lending, with private consumption by Bahamians having “declined for the fifth consecutive year”.
Gov't payroll: 'Two-thirds' goes on salary deductions
Around “two-thirds” of the Government’s monthly payroll is eaten up by salary deductions, it has been revealed, in a move to seemingly illustrate why it is so hard to cut public spending.
Seven BOC members on upcoming elections
SEVEN Bahamas Olympic Committee (BOC) members, including five vice presidents, the treasurer and assistant treasurer, have issued a joint press release voicing their displeasure with the manner in which BOC president Wellington Miller wants to conduct their upcoming elections.
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)
'Absolutely not a level playing field'
Bahamian investors and businesses are at a disadvantage when competing against foreign investors because of this nation’s high cost platform.
Advert ordered off the air
THE Utilities Regulation and Competition Authority has ordered ZNS to remove a political ad that suggested PLP Fox Hill candidate Fred Mitchell was involved in an alleged visa scandal at the Ministry of Foreign Affairs.
Bahamas gets 80-68 victory over Cuba
Coach Larry Brown liked what he saw in the men's national basketball team's gallant 80-68 victory over Cuba on day one of the CentroBasket Tournament in
Thunder win on road, take 3-2 lead over Spurs
SAN ANTONIO (AP) -- Kevin Durant scored 27 points and the Oklahoma City Thunder are on the brink of the NBA Finals, beating the San Antonio Spurs 108-103 in Game 5 on Monday night and moving within a victory of a series knockout. Russell Westbrook added 23
IMF urges 20% auto fee rise
The International Monetary Fund (IMF) has urged the Government to increase motor vehicle licence fees by at least 20 per cent, arguing that this would improve the “fairness and progressivity” of Bahamian taxation.
BORCO to deliver full year returns in 2014
The Bahamas Oil Refining Company (BORCO) is expected to generate “full-year run rate cash flows” in 2014, after its owner invested $380 million over three years to expand storage capacity by 20 per cent.
Confusion over how tuition fees will work
CONFUSION is still swirling over how the University of the Bahamas’ recently announced tuition and fee increases will be reconciled with the government’s long-promised vow that tuition for fall 2019 would be free for all students who meet certain criteria.
Broker: 'Business grows' despite harassing SEC
A BAHAMIAN broker/dealer’s principal yesterday said “business keeps growing” despite continued “harassment” by US regulators, who claim his local activities give “daily opportunities” to violate the law.Guy Gentile, head of Swiss-America Securities,
De-risk 'client migration' to benefit larger banks
Correspondent bank 'de-risking' could drive another wave of Bahamian financial services consolidation by sparking "client migration" to larger institutions, a former finance minister has warned.
'Throwing darts': PM pledges 'decisive action' on Freeport
The Prime Minister's decision to put the Grand Bahama Port Authority's (GBPA) owners on notice that he plans to take "decisive action" to halt Freeport's two-decade decline yesterday provoked mixed reactions from residents and politicians.
'Political controversy' hits multi-million PHA saving plan
The leading advocate for a consortium that would provide all the Public Hospitals Authority’s (PHA) medical supplies yesterday said it was “unfortunate this has become political”, adding that his plan would save $2 million in equipment maintenance costs alone over a four-year period.
Spartans suffer 80-69 loss to Badgers in Big 10 title game
CHAMPIONSHIP Week is in the books, and it was a series of contrasting results for Bahamian players in their respective Men’s Division I conference tournaments.
Delinquent Mortgages: ‘20% can pay but don’t’
An estimated 20 per cent of delinquent Bahamian mortgage borrowers fall into the ‘can pay but won’t pay’ category, a situation the banking industry believes will be exacerbated by the Homeowners Protection Bill.
Govt wants 90% of taxes electronically by fiscal year-end
The Government is hoping to collect 90 per cent of due tax payments electronically before the 2016-2017 fiscal year-end, a top official yesterday promising it was being “very aggressive” on spending controls.