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Lincoln Bain loses appeal over $64k repayment

FIREBRAND political activist Lincoln Bain has had the threat of a 90-day prison sentence eliminated despite losing his appeal against having to repay $64,000 over a failed investment deal.

FINCO goes 'organic' through 2013 with $98m problem loans

FINCO is relying on existing borrowers to “carry us through” to the end of its 2013 financial year, having suffered a “bit of a spike” in accounts over 90 days past due during the 2012 third quarter.

PLP's $250m mortgage plan blasted

A LEADING Wall Street credit rating agency has blasted the newly-elected Progressive Liberal Party (PLP) government's proposed mortgage relief plan for "undermining" efforts to rein in the $4.356 billion national debt, warning that the scheme will likely cost Bahamian taxpayers $250 million to implement.

Developer: Residency ease for 'American first'

A Bahamian developer poised to break ground on a $50m project yesterday urged the Government to resolve tax and permanent residency bottlenecks for the country to exploit an "American first".

BAHA MAR SCRAPS OCTOBER OPENING: Resort tells workers goal to launch next month not feasible

The Government's tourism re-opening plans were yesterday dealt a major blow after Baha Mar told staff its October return was "not achievable" due to COVID-19 spikes here and in key US markets.

CASUALTIES OF COVID CRISIS: Baha Mar begins mass layoffs just as flights resume

Bahamians were yesterday warned to brace for "more significant casualties" in the tourism industry as Baha Mar started terminating hundreds of workers.

$3.2m acquisition to be donated for GB hospital

Doctors Hospital has teamed with three philanthropists to close the $3.2m purchase of its new Freeport facility and provide services to those who cannot normally afford private healthcare.

Gov’t targets property tax tripling to $400m

The Government is aiming to more-than-triple annual real property tax collections to at least $400m as a key component in its ambitions to achieve a 25 percent revenue-to-GDP ratio.

Nassau told: ‘Don’t fear’ Freeport’s cruise ports

Nassau has “nothing to be afraid of” from Freeport’s two mega cruise ports, the Minister of Tourism is arguing, while admitting both projects have added “fresh” urgency to the capital’s revival.

GB Shipyard targets tripling revenue to $250m by 2029

Grand Bahama Shipyard is aiming to more than triple its annual turnover to $250m within five years, its top financial executive asserting yesterday: "This is not wishful thinking."

Airlines threaten cut backs over tax rises

Airlines representing 90 per cent of US airlift into the Bahamas have warned they may cut their services due to the Budget’s tax increases, a move that will undermine the tourism industry and threaten plans for a 400,000 seat capacity increase.

Spinal health issues

BY THE BAHAMAS

Baha Mar claims process: No one guaranteed to be paid

THE claims committee responsible for administrating payouts to former employees and creditors of Baha Mar updated its website yesterday with additional information about the claims process, including a warning that no one is guaranteed to be paid.

Bahamian basketball players in 70th NJCAA Tournament

WHILE the NCAA Division I Tournament grabs international headlines, several Bahamian players competed this week at the Junior College Division I Tournament.

Desmond Mpilo Tutu

In Fire Forged and Purified [Desmond Mpilo Tutu, October 7, 1931 to December 26, 2021]

New home starts off 67% in one decade

The pace of home construction is failing to keep pace with the Bahamas’ housing needs, with residential starts and completions both declining by more than two-thirds in the decade up to 2014.

FNM fears toll on resort staff awaiting job cut news

BAHA Mar’s plans to potentially reduce its workforce by over 90 per cent if it is unable to resolve its dispute with its Chinese partners will take a toll on the “mental and physical health” of its employees, FNM Chairman Michael Pintard said yesterday. He said no effort must be spared on the government’s behalf to prevent the staff cuts.

The Tribune

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