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Open up solar power

Re: Solar Electricity Request for Proposal (RFP) in today’s Tribune.

Commission names new market manager

The Securities Commission of the Bahamas (SCB) has appointed Velma Miller as manager of its market surveillance department with effect from yesterday.

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Learn how to play tennis for just $1

THE Bahamas Lawn Tennis Association introduced its $1 Saturday, a new program they intend to run to provide another avenue for youngsters to learn the game of tennis.

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INSIGHT: Shining a light on why we’re so slow switching on to solar

The Bahamas is one of the “solar capitals” of the world with more solar irradiation falling on our land than most other countries. In spite of this, the Bahamas has the least amount of solar integration compared with almost any country.

Near $200m energy saving from natural gas switch

The Bahamas would realise between $172-$186 million per annum in “net savings benefits” if it switched to natural gas as its main energy generation source, with this nation’s electricity system costs the highest in the Caribbean.

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BISX-listed firm ‘qualified’ for second straight year

A BISX-listed company’s top executive yesterday moved to reassure shareholders after auditors issued a “qualified opinion” on its annual financial results for the second consecutive year over the same issue.

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‘Mission critical’ cruise port in $12.38m profit

NASSAU Cruise Port's success was yesterday branded "mission critical" for The Bahamas with 35 percent of the country's economy dependent on a facility that has generated $12.383m in net profits even before its official opening.

S&P: Gov’ts fiscal, economic reforms ‘will take time’ to work

* 1.5% average growth forecast lower than IMF’s * Grand Lucayan closure takes out 7% of rooms * Debt to rise through 2020 to 52% of GDP

THE Government’s fiscal and economic reforms will take time to “pay dividends”, Standard & Poor’s (S&P) warned yesterday, as it took a more ‘bearish’ view of the Bahamas’ growth prospects. The rating agency, in its latest Bahamas country assessment, expressed confidence that the Minnis administration’s fiscal reforms will “arrest the deterioration” in the Government’s deficit and the national debt.

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Sir Franklyn defends $49m Jack's Bay goal

Sir Franklyn Wilson is defending as "very conservative" projections that the Jack's Bay project will hit up to $48.9m in annual real estate sales by 2023, adding: "We're not selling this like Fried Fish."

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'Within the ball park': Gov't debt near $9bn

The Government's first quarter fiscal outturn was "within the ball park" of projections, the deputy prime minister said last night, as $692m in net borrowing drove its direct debt to almost $8.9bn.

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‘Polish product’ to maximise record-breaking cruise port

Downtown Nassau must “polish its product” to maximise the benefits from the “busiest cruise port in the world”, which is this week enjoying a record-breaking 32 vessel berths.

Hotels set to 'surpass banner years' by 2015

The Bahamian hotel industry believes it will approach its pre-recession “banner years” in 2014 and “surpass” them next year, its president said yesterday, with the sector’s confidence levels reaching 97 per cent.

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Dealer's expansion put 'on the shelf'

A leading Bahamian auto dealer yesterday disclosed he had placed western New Providence expansion “on the shelf” as a result of the Budget’s tax increases, as some in the industry reported losing up to $800,000-$1 million per year.

Bank's provisions spike $700k on jobless growth

Bank of the Bahamas yesterday revealed that last month’s 2.2 percentage point increase in the unemployment rate caused a $700,000 one-time spike in its credit loss provisions, as it warned shareholders to brace for more potential losses.

Renewable energy fury at suspension - Providers: Gov’t ‘put cart before the horse again’

Renewable energy firms yesterday slammed the Government’s decision to suspend the self-generation programme, arguing that it had left the industry “in limbo” and again “put the cart before the horse”.

RoyalFidelity equity fund investors see near-20% returns

RoyalFidelity Merchant Bank & Trust’s mutual fund family has enjoyed its “third straight year of positive returns” following their 2012 restructuring, with its equities fund generating near-20 per cent for investors.

Bahamas ‘50% likely’ to suffer credit rating cut

The Bahamas faces “at least” a 50 per cent chance of a sovereign credit rating downgrade within the next 90 days, after Standard & Poor’s (S&P) last night placed this nation on ‘negative creditwatch’ due to Baha Mar’s Chapter 11 filing.

GB Power: 30% system loss cut’s $1.5m in savings

Grand Bahama Power Company (GBPC) yesterday said it had saved consumers $1.5 million in 2014 through slashing system losses by 30 per cent, although its adoption of compressed natural gas (CNG) as an alternate fuel might not happen until “beyond 2018”.

Bahamas urged: ‘Don’t spook clients’ on HSBC

The Bahamas must be careful “not to spook” its high net worth clients over last week’s HSBC revelations, with politicians, businessmen and ex-ministers united in their call: “Don’t assume the worst.”

Bank pledges openness before AGM 'fireworks'

By NEIL HARTNELL