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Ex-Cabinet minister urges: ‘Rescue financial services’

An ex-Cabinet minister yesterday urged the Bahamas to move rapidly in rescuing its financial services industry, which he warned was “under tremendous strain”.

Labour Dept placing just 2 per cent of job seekers

The Department of Labour is finding work for just 2 per cent of its registered job-seekers, a ratio that is exacerbating low workforce productivity and inequality in Bahamian society.

Freeport hotelier backs Gov’ts push for change

A hotel operator has backed the Government’s Grand Bahama Port Authority (GBPA) stance as evidence of its “commitment to Freeport”, and asked: “When was the last time the Port Authority did a major investment?”

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Gov’t spending reform is ‘absolute necessity’

The Opposition yesterday branded reform of government spending as an “absolute necessity” as it argued that the $804.5m increase in total expenditure compared to pre-COVID levels is “possibly unsustainable”.

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Bahamas ‘can’t sit on laurels’ over digital assets regulation

The Securities Commission’s top executive has warned that The Bahamas “cannot sit on our laurels” as she disclosed that further reforms to tighten digital assets regulation will be unveiled “in the next few months”.

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NIB '52% of way' to $200m income target

The National Insurance Board’s (NIB) $104 million in collected contribution income at end-June has put it slightly ahead of schedule, or more than 50 per cent of the way, towards its $200 million full-year target at 2012’s mid-point.

URCA proposes 20% expansion in budget

The Utilities Regulation and Competition Authority (URCA) is for the second consecutive year proposing a major hike in its operating budget via a near-20 percent increase for 2024.

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Water staff fear more heads to roll

THE termination of Glen Laville from the post of general manager of the Water and Sewerage Corporation could be the “tip of the iceberg,” insiders told The Tribune yesterday, adding there are fears others may be fired in the aftermath of Ernst and Young’s audit of the water provider.

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'Residents back plan for Lighthouse Point'

DISNEY Cruise Lines has already “won out” in its bid to gain the support of residents in Eleuthera, according to representatives from the Community Support Group (CSG).The organisation, whose members include the wife of Central and South Eleuthera MP

Abaco resorts: 'We must know what we're facing'

Abaco resorts yesterday called for more clarity around the COVID-19 travel protocols as they seek to rebound from the combined devastation of Hurricane Dorian and the global pandemic.

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Port chief: Nassau won't see cruise ships till 2021

The cruise lines will resume calling on The Bahamas' major ports in the 2021 first quarter, Nassau Cruise Port's top executive predicted yesterday, while warning: "We won't see anything in 2020."

Bahamas 'drowning in unnecessary spending'

The Deputy Prime Minister has slammed the Opposition’s leader for raising fears of a “double-dip recession”, arguing that the Bahamas had endured negative growth for the past five years due to the former administration’s “ill-advised policies”.K P Tu

Bahamas facing $500m climate impact by 2025

Climate change impacts could cost the Bahamian economy almost $500 million annually by 2025, the Inter-American Development Bank (IDB) has warned, with “badly designed” infrastructure and coastal erosion increasing the threat.

Unlicensed dealers seize 40% auto market share

The Government was yesterday urged to crack down on “out of control” roadside auto vendors, a leading dealer estimating they now accounted for 40 per cent of the total market.

Dingman comes to Bay Street

An investor group headed by Jamie Dingman has leased 25 per cent of the units in a major Bay Street shopping plaza, Tribune Business can reveal, with plans to create a restaurant destination unmatched “except for Marina Village”.

QC backs judge’s ‘pay to play’ halt on Judicial Review

A Supreme Court judge has been praised for preventing Judicial Reviews becoming “pay to play” litigation, after she dismissed the Government’s ‘security for costs’ demand over the challenge to the Hawksbill Creek Agreement (HCA) review.

VAT rate will 'double' with poor compliance

A Tax Coalition co-chair yesterday said the Government “desperately” needed to release its Value-Added Tax (VAT) education curriculum and modules, warning that this was vital to “maximise compliance” immediately the new tax kicked in.

Small Business Centre targets new initiatives

The Small Business Development Centre (SBDC) yesterday said it had secured $52.7m worth of financing for entrepreneurs during its first two years as it seeks to expand initiatives targeting the sector.

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Bahamasair 'exhausts' $19m annual subsidy

Bahamasair's chairman yesterday confirmed the airline "exhausted" its $19m taxpayer subsidy during the first four-five months of its financial year, but said: "At least we don't have zero cash flow now."

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BTC ‘bottoming out’ as mobile losses cut 2/3

The Bahamas Telecommunications Company (BTC) last night showed signs of “bottoming out” in its battle with Aliv after its mobile subscriber loss rate was cut by two-thirds in late 2018.