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OPINION: Bank of Bahamas investors to enjoy bail-out boost
Let’s not mince words: Everyone in the commercial banking industry knew that Bank of the Bahamas has been in trouble for some time. The only questions were the size of the damage, and how the Government would fill the ‘hole’.
BPL: 8% 'crazy growth' in New Providence
A senior Bahamas Power & Light (BPL) executive yesterday said the utility had seen "crazy growth" in customer demand over the summer with New Providence's peak load increasing by 8 percent year-over-year.
Bahamas can’t pay $4bn costs for climate change
The Bahamas cannot afford the $4bn required to meet its pledged climate change targets without international financial, technology and other “capacity-building” support, it has admitted.
‘High time’ GBPA is listed on BISX
An outspoken QC yesterday said it was “high time” the Grand Bahama Port Authority (GBPA) was returned to public ownership via a listing on the Bahamas International Securities Exchange (BISX), as concerns rise over Freeport’s “discombobulated” economy.
Bahamas leads region for lift per hotel room
The Bahamas has the greatest airlift per available hotel rooms in the Caribbean, an International Monetary Fund (IMF) working paper has found, although flights to this nation from the US have fallen “by almost 50 per cent” since 2000.
$2 billion Gov’t spend ‘doesn’t bode well’
The Government will miss its original goal of eliminating the GFS fiscal deficit by the upcoming 2015-2016 Budget year, amid warnings that its near-$2 billion recurrent spending “doesn’t bode well” for hitting its revised targets.
‘No big improvement’ to $1.3bn bad loans in 2015
The $100 million Bank of the Bahamas ‘bail out’ helped to staunch the industry’s 2014 bad loan bleeding, but “no significant improvement” to this problem is expected in 2015.
BEC bills won't show 25% oil price decline
Hard-pressed Bahamian energy consumers will not reap the benefits from a 25 per cent drop in global oil prices because BEC’s fuel supplier has it “by the balls” over its $130 million debt.
PM cuts 2016 GDP growth to just 0.5%
Prime Minister Perry Christie yesterday slashed a full percentage point off the Bahamas’ projected economic growth for 2016, cutting real GDP expansion estimates to just 0.5 per cent.
Insurers dismiss VAT Act ‘misinterpretation’
BAHAMIAN health insurers yesterday said “no one wants to pay an additional 36 percent on their medical insurance” from April 1, 2023, when consumers will have to bear the full VAT burden on claims payments.
'Giant boost' as $600m transformational project launched at Grand Bahama Shipyard
A $600m transformational project, which will include two of the largest dry docks in the world, was launched at the Grand Bahama Shipyard on Friday, and was said to be a “giant boost” to the island’s economy, tourism and employment.
Lyford Cay condo developer to move on ‘final approval’
The developer behind a controversial Lyford Cay condominium project yesterday said it will move forward to obtain “final approval” despite planning authorities requiring that the number of units be slashed by 30 percent.
Call termination cuts ‘a beautiful thing’
A rival telecommunications provider yesterday said it was “100 per cent behind” plans to cut the Bahamas Telecommunications Company’s (BTC) call termination rates by up to 60 per cent, telling Tribune Business the proposed 2 cents per minute slash for 2013 was “a beautiful thing”.
Port-fighting family in $46.5m GB exit
A Florida-based family who engaged in a bitter public battle with the Grand Bahama Port Authority (GBPA) and its affiliates have put all their Freeport interests up for sale with a $46.5m asking price.
PM meet’s ‘way to defuse’ VAT health claims dispute
The Prime Minister’s Business Round Table with senior corporate executives may have created a pathway for “defusing” the row over the VAT treatment of health insurance claims, one attendee said last night.
December air arrivals up 13% on pre-COVID
Stopover visitors for December 2022, which included the peak Christmas and New Year's tourism period, more than doubled year-over-year to beat the industry's pre-COVID performance by almost 13 percent.
$50m project predicts 30-40% sales increase
A MAJOR western New Providence real estate development is on track to this year surpass 2011 sales by 30-40 per cent, its principal telling Tribune Business yesterday that it was preparing to take total build-out value to $50 million by starting two more construction phases in 2012.
Less than 1/4 of NIB pension recipients come from poorest 20%
By NEIL HARTNELL Tribune Business Editor Fewer than one in four Bahamians receiving a National Insurance Board (NIB) non-contributory pension come from the poorest 20 per cent of society, an Inter-American Development Bank (IDB) report disclosing that pl
Top KC sounds ‘dark side of Bahamianisation’ alarm
A PROMINENT KC yesterday sounded the alarm over the “dark side of Bahamianisation” for breeding mediocrity based on “a sense of entitlement”.
Groundbreaking as MSC aims to bring passengers to Bimini
THE expansion of the MSC Bahamas brand continued yesterday as the world-renowned cruise and shipping company broke ground on its multi-million dollar Ocean Cay development, which is expected to bring in 369,000 stop-over cruise passengers to the Bimini chain annually.
