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GB Power chief: Renewables can be 50-60% of generation

GB Power’s top executive yesterday said renewable energy can ultimately become 50-60 percent of the island’s generation mix, but warned: “You won’t see Florida prices any time soon.”David McGregor, the utility’s president and chief operating officer,

No ‘worthwhile’ return: Cable in TV shake-up

Cable Bahamas is not earning a “worthwhile” rate of return on its REVTV product, sector regulators have agreed, with subscriber numbers set to further decrease unless its channel line-up is restructured.

Unions challenge Dorian advances to civil servants

Trade union leaders are challenging the government’s decision to offer Dorian-ravaged civil servants a two-month salary advance rather than the $800 lump sum payment agreed pre-storm. Bernard Evans, the National Congress of Trade Unions of The Baham

‘Absolutely untrue’: PM blasts Davis on IMF bail-out claim

The prime minister last night slammed as “absolutely untrue” assertions by the opposition’s leader that The Bahamas is headed for an International Monetary Fund (IMF) supervised restructuring.

Complete tourism rebound pushed back until 2023

Tourism's full rebound has been delayed until 2023, the Central Bank's governor predicted yesterday, as he conceded that The Bahamas' recovery from COVID-19 is "further behind than expected".

Treasury revenues slumped 55% in year's final quarter

THE COVID-19 pandemic has contributed to a 55.2 percent contraction in receipts across taxed industries, according to the Ministry of Finance’s budgetary performance report for the fourth quarter of the 2019/2020 fiscal year.

DPM: BOB rescue ‘hasn’t worked’ as losses grow 61%

The Deputy Prime Minister yesterday declared that all efforts to rescue stricken Bank of the Bahamas (BOB) have “obviously not worked to-date”, after the insolvent institution’s losses jumped 61 per cent for the 2017 financial year to-date.

Bahamas urged to ‘review’ corporate income tax merits

The Bahamas was yesterday urged to examine the benefits of implementing a ‘low rate’ corporate tax, and whether this would unlock potential “benefits” from double taxation agreements.

WORLD CUP: France knock out Argentina in seven goal thriller

Kylian Mbappe scored two goals in four second-half minutes to send France into the World Cup quarter-finals with a thrilling 4-3 win over Argentina on Saturday.

BISX-listed Fund eyeing downtown parking move

The BISX-listed Bahamas Property Fund yesterday revealed it is mulling the development of a car park that would solve one of downtown Nassau’s major “limitations”.

US travel shut down 'low-risk proposition'

The government’s move to close The Bahamas’ borders to all commercial transportation from the US was yesterday branded “a low-risk proposition” by the Chamber of Commerce’s chief executive. Jeffrey Beckles, pictured , told Tribune Business the decis

INSIGHT: We need our own plan of action not just soundbites

THERE hardly seems a moment without a crisis these days. If it isn’t the pandemic, it’s the war in Europe. If it’s not those two, it’s the economic crisis both of them are bringing. The worse the economy gets, the more deeply entrenched are the problems with crime. This week, however, another problem reappeared in the spotlight: climate change.

GB Power targets 13% return on rate changes

Grand Bahama Power Company is seeking returns of close to 13 percent in its proposed revision to the island’s electricity tariffs, it can be revealed.

‘Buddy’ erupts for 25 in triple OT win, Jones scores first NBA points

IN an eventful weekend for Bahamian players in the NBA - Kings interim head coach Alvin Gentry continues to laud the growth of Chavano “Buddy” Hield, Deandre Ayton and the Phoenix Suns chase franchise history and Kai Jones got the first field goal of his NBA career.

Governor calls for ‘more aggression’ over loan arrears

The Central Bank is pushing the banking sector to “speed up” resolving its remaining $742m loan arrears so that it can better fuel economic growth, its governor said yesterday.

'Extraordinary' price increases warning

Bahamian consumers and businesses were yesterday warned to brace for “an extraordinary level” of increase in the price of US imports as a result of Donald Trump’s trade war with China.

GB revival to ‘relieve major job pressure’

Reviving Grand Bahama’s economy will “relieve tremendous pressure” on the rest of The Bahamas, the deputy prime minister said yesterday, following the unemployment rate’s rise to 10.7 percent.

Economy faces ‘real climb’ to dent unemployment rate

The Bahamas must see “a real climb in GDP growth” to at least 2.5 percent every year to break the cycle of double digit unemployment rates, a governance reformer warned yesterday.

Abaco guides fear ‘irreparable harm’ via new regulation

Concerns continued to mount yesterday over the new fly fishing regulations, with one Bahamas-based association arguing that many reforms were “unnecessary and counterproductive”, and would undermine the industry’s viability.

Scotiabank: $80m mortgages restructured in 18 months

Scotiabank (Bahamas) yesterday disclosed it had managed to restructure more than $80 million worth of mortgages, held by over 500 customers, within the last 18 months, telling Tribune Business just 5-6 per cent of that number had fallen back into delinquency.

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