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Hotel chief hits out at ‘parasitic’ union leaders

THE Hotel Corporation’s chairman yesterday attacked “some parasitic” union leaders, arguing that their “extortionate, outrageous and crippling methods” pose a threat to The Bahamas’ economic welfare.

Travis Munnings works out with the Hornets

TRAVIS Munnings had an active pre-draft process and hopes that he made enough of an impact for one of several teams he worked out for over the course of the last month. Following his most high profile workout with the Charlotte Hornets earlier this

Davis Cup: Bahamas bounce back with win over USVI

TEAM Bahamas rebounded from their loss to host Costa Rica on Wednesday by taking it out on the US Virgin Islands yesterday in the American Zone III Davis Cup Tie.Philip Major Jr won his opening singles 6-0, 6-2 over Russell Armstrong, while Baker New

AML’s ‘20% shrink’ drives profit tripling

A BISX-listed food retail group yesterday said it had slashed shrinkage by 20 percent compared to the first half as it closed its 2019 financial year by more-than tripling final quarter profits.

Ex-minister’s $6m judgment plunges BOB back into loss

A $6m default judgment obtained by a former Cabinet minister’s companies has plunged Bank of The Bahamas back into multi-million dollar losses and halted its financial recovery efforts.

1,600 back on public payroll

DESPITE the Minnis administration’s criticism of the previous government’s hiring practices, there are plans to allocate $8m for new hires in the upcoming fiscal year in addition to the 1,600 people re-engaged since 2017.

DIANE PHILLIPS: Honestly, I’m all in a pickle

It’s possible that I slept through the last decade but highly unlikely so how else do I account for the fact that until Friday I never heard of the world’s fastest growing sport? Wonder if you have.

Austin Knowles to walk free in six years

CONVICTED Bahamian drug smuggler Austin Knowles will spend just over six years in prison and forfeit $1m for his role in an international conspiracy and drug trafficking scheme in 2002.

BUSINESS BITES: Sebas happy playing to contented customers

When I visited the East Bay Street head office of Investar Securities at 10am on Monday June 3, a dozen citizens were already there waiting to subscribe to either of the two Titan Mutual Funds being launched.

New construction model eyes 40% build time cut

A prominent businessman yesterday said his “$1m-plus” new construction venture is aiming to “double sales within a couple of years” once its pre-engineered model takes off.

Top realtor urges specific incentives for vacation rentals

A prominent realtor is urging the government to provide Hotels Encouragement Act-style incentives specifically for the vacation rental market to better empower Bahamian investors.

DPM brands Opposition as 'the junk bond crew'

The deputy prime minister yesterday renewed his attack on the former Christie administration’s fiscal management, branding it the “junk bond crew” for overseeing four consecutive rating downgrades.

Titan funds speed up Family Islands launch

Sebas Bastian’s investment house yesterday said potential investor demand had caused it to speed up the launch of its two Titan investment funds outside New Providence.

$699m VAT collection lower than expected

THE Minnis administration collected $699.3m in value added tax in the 2018/2019 fiscal year, a 21.5 percent increase over the previous fiscal year, according to Deputy Prime Minister K Peter Turnquest yesterday.

Tech Talk

• The German government is extending a system of incentives to buy electric cars by 18 months until the end of 2020.

Carnival’s payment for sailing violations – $20M: A DROP IN THE OCEAN

CARNIVAL Corporation has reached a settlement with US federal prosecutors that would see it pay $20 million in fines for violating terms of its probation.

Brewery suffers loss on $2.7m cost one-offs

Commonwealth Brewery has blamed a six-figure loss for the 2019 first quarter on $2.7m in one-off expenses linked to restructuring, staff lay-offs and Kalik Light’s re-branding.

Central Bank hails ‘buoyant’ tourism

The Central Bank yesterday described tourism’s performance as “buoyant” through April 2019, with “off-resort room nights” in the vacation rental sector up 31.7 percent that month.

Biometrics key to overcoming immigration fraud – Symonette

FINGERPRINTING has proven to be the Immigration Department’s best defence against fraud, according to Immigration Minister Brent Symonette, who spoke of the stunning accuracy of fake documents being generated.

Tsavoussis and Bayles are the new golf champions

BAHAMAS Golf Federation President Lynford Miller has announced the Bahamas has two new male and female golf champions.

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