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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.

FNM blasts landfill ‘false hope’

AS the government continues its search for resolutions at the New Providence dump site, Free National Movement (FNM) Deputy Leader Peter Turnquest yesterday dismissed indications that the administration was now exploring a request for proposal (RFP) process, blasting the move as “empty rhetoric” presented as means to “inspire false hope” to those that have suffered through the “calamity” of fires.

Govt spending rise ‘doesn’t give comfort’ on fiscal correction

The Government’s increased spending is “giving little comfort” that the Bahamas can correct its fiscal imbalances, the Chamber of Commerce’s chairman warned yesterday.

Bahamas holding off debt cost pressures

The Bahamas was the only Caribbean nation in early April to escape pressure on its bond yields amid the COVID-19 pandemic, an Inter-American Development Bank (IDB) report revealed yesterday. The IDB, in its 2020 first quarter “bulletin” on the regio

'Many will die if we don't take this seriously'

HEALTH Minister Dr Duane Sands warned yesterday if the country does not take the COVID-19 threat seriously, “many of us will die,” adding health officials are not certain when the fast-spreading pandemic will end.

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.

Shipyard’s $350m expansion to give 2022 economic boost

The Grand Bahama Shipyard’s $350m investment in two new dry docks will provide a much-needed economic boost to the island in 2022, government officials confirmed yesterday.

Carnival hopes 20-year port wait nearing end

Senior Carnival Cruise Lines executives have voiced optimism that their 20-year search for a private port location in Grand Bahama is nearing an end with their latest $100m project.

Davis asks - why Disney secrecy?

OFFICIAL Opposition leader Philip “Brave” Davis yesterday criticised the closed-door signing between the government and Disney Island Development Ltd for a multi-million dollar project in Eleuthera, adding it appeared to be shrouded in secrecy.

Transaction costs ‘slowing’ electronic payments switch

The costs associated with settling electronic transactions are “slowing the pace of change” in the Bahamian payments system, the Central Bank’s governor said yesterday.

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

Bahamas faces recession if US falls over ‘fiscal cliff’

The US could tip the Bahamian economy back into recession within eight months unless Washington reaches a deal by tonight to avert its so-called ‘fiscal cliff’, a former finance minister has warned.

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.

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