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Port IPO over $10m target

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Arawak Port Development (APD) initial public offering (IPO) has raised 'north' of the $10 million subscription target, Tribune Business was told yesterday, with interest reachin

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Customs gamechanger in switch to Click2Clear

CUSTOMS officials said yesterday they had reached a “major milestone” having integrated New Providence seaport to the Click2Clear Portal which will become its primary processing system on September 1.Superintendent Tyrone Sands, underscoring the impo

Farmer: Import ban is 'make or break'

A BAHAMIAN farmer yesterday backed the Government’s temporary restriction on imports of sweet and bell peppers and tomatoes, saying: “That’s a make or break situation right now.”Christopher Pinder, one of the owners of Abaco-based 5 Star Farms, a maj

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Seeking young artists from 50 years ago

THE Mexican government is inviting the four Bahamians who participated in the 1968 Global Children’s Painting Festival to be part of the 50th anniversary commemoration of the event.Artwork from four Queen’s College students was selected to represent

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Texas senior Lashann Higgs in leadership role for Longhorns

LASHANN Higgs heads into her senior season in a leadership role for the Texas Longhorns as the programme will be featured in five nationally televised games on the ESPN network.

$5,000 fine for man guilty of marijuana possession

A MAN was fined $5,000 yesterday after he pleaded guilty to possession of dangerous drugs with intent to supply.

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Group business would 'allow higher hotel room yield'

THE Nassau Paradise Island Promotion Board (NPIPB) is hoping to make the group business segment 20 per cent of its total business, a board executive telling Tribune Business that this would ultimately allow hotels to achieve a higher room yield.

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Jury hears of high-speed chase by police officers

A JURY briefly heard yesterday how an attempt by policemen on mobile patrol to pull over a vehicle driving in the wrong direction on a one way street led to a high-speed chase and a female pedestrian being dragged by the get-away car.

Gov't concern on conch export block decision

The Government yesterday voiced concern that Queen Conch exports could be threatened if the US declares them an endangered species, creating “significant social and economic hardship” for thousands of Bahamian and regional fishermen.

BNT eyeing 'rough' Q4 over funding concerns

THE Bahamas National Trust (BNT) is refining its fund raising strategy its executive director said yesterday, telling Tribune Business that the third quarter of the year is “going to be rough” unless it is able to obtain significant funding.

‘Be careful how world eyes Freeport change’

THE GRAND Bahama Chamber of Commerce’s president yesterday warned that the Government must pay attention to how its actions are perceived by potential investors as it strives for major in Freeport’s governance.

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Five weeks of rising COVID cases in region

FOR the past five consecutive weeks the Caribbean has experienced a rise in new COVID-19 infections, according to Pan American Health Organisation Director Dr Carissa Etienne yesterday.

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'Murder rate due to drugs and guns'

NATIONAL Security Minister Tommy Turnquest said yesterday the Bahamas' high murder rates stem primarily from drugs and firearms.

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‘All-Bahamian’ $30m hotel gets conditional go-ahead

The Bahamian developer of a proposed $30m West Bay Street hotel was yesterday granted preliminary site plan approval for the project provided its “side setbacks” are increased to 15 feet.

Key revenues off 30% in Matthew aftermath

Hurricane Matthew’s impact on government revenues has been exposed by data showing a collective 30 per cent month-over-month drop-off in three key taxes during October.

Tourism targets Latin American expansion

THE Ministry of Tourism has brought Latin America to the Bahamas through a recent familiarisation trip for journalists.Media personalities from Colombia, Peru and Panama visited Nassau and Paradise Island to receive a taste of Bahamian culture, as th

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DPM: Bahamas faces 'deep, stark' recession

The deputy prime minister yesterday warned The Bahamas faces a “very deep and stark recession”, and urged it to brace for “major problems” if the COVID-19 crisis continues beyond summer.

Classes resume at University of the Bahamas campus in Freeport

THE University of The Bahamas North has reopened and resumed classes at its downtown centre in Freeport, a month after Hurricane Dorian destroyed the northern campus in East Grand Bahama. Dr Ian Strachan, vice president of UB North, said university

VAT exemptions 'not in best interest of gov't or businesses'

EXEMPTIONS under the proposed Value Added Tax (VAT) systems would “not be in the best interest of the government or businesses” according to the head of the Retail Grocers Association, who argued that the potential to recover only 20-25 per cent of their inputs would eventually drive some retailers out of business.

Financial sector boost via perpetuity 'honour'

The Bahamian financial services industry may obtain a competitive advantage from a recent precedent established by the Supreme Court, which proves the judiciary will “honour” the law enabling old trusts to continue ‘in perpetuity’.