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MORTGAGE COMPANY 'WAS NEAR BANKRUPTCY'
By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net THE Bahamas Mortgage Corporation was headed to bankruptcy as a result of "reckless lending habits" under the PLP administration, chairman Dr Duane Sands said yesterday. Dr Sands said tha
MORTGAGE COMPANY 'WAS NEAR BANKRUPTCY'
By AVA TURNQUEST Tribune Staff Reporter aturnquest@tribunemedia.net THE Bahamas Mortgage Corporation was headed to bankruptcy as a result of "reckless lending habits" under the PLP administration, chairman Dr Duane Sands said yesterday. Dr Sands said tha
$6m economic boost via new Carnival ship
CARNIVAL Cruise Lines’ latest ship Carnival is expected to pump more than $6 million into the Bahamian economy over the next six months, the Minister of Tourism believes.
Nurses take strike action
THE FNM has criticised the government for failing to keep its promises to Bahamian workers after nurses across the public health system failed to show up for work yesterday.
Conference to be held on stem cells
FREEPORT – The International Stem Cell Society’s global conference will take place February 19-22 at the Grand Lucayan Resort in Grand Bahama, it was announced yesterday.
Queen's College presents 'Guys and Dolls' musical
IT will be three nights of song and dance as Queen’s College stages its version of the popular musical “Guys and Dolls” this week.
Price control abolition 'all politics'
THE Retail Grocers Association head suggested yesterday that the price control abolition issue was “all politics”, claiming that successive governments had passed on abolishing price control for fear it would be used as a political football against them.
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’.
Shanty Town fire kills two, leaves hundreds homeless
POLICE in Abaco are investigating a fire that claimed the lives of a mother and her year-old son.
Shock tactics: Pupils to spend a night in the cells
STUDENTS with disciplinary problems will have to spend a night at the Central Detective Unit and visit Her Majesty’s Prison as a part of the government’s new “shock treatment package”.
'Significant' economic impact from the Relays
Bahamian organisers behind this weekend’s World Relays yesterday said that while initial figures were still being compiled, they expected to meet their targets through a “quite significant” economic impact.
Report urges oversight controls
THE independent report commissioned into the Urban Renewal Small Home Repairs programme called for the government to immediately establish a litany of controls to increase oversight of the project’s operational management and payment system.
CCA breaks ground on $250m Bay Street development
CHINA Construction America yesterday broke ground on its $250m Bay Street luxury development with no end in sight to its dispute with mega-resort Baha Mar over the completion of the $3.5bn Cable Beach project.
Private sector brands VAT compliance ‘very impressive’
Super Value’s owner has described initial Value-Added Tax (VAT) compliance rates as “very impressive”, amid hopes there has been “a paradigm cultural shift” in attitudes towards paying taxes.
Smith calls on Mitchell to remember his activist days
HUMAN rights activist Fred Smith is calling on Immigration Minister Fred Mitchell to remember his “Human Rights days” and do his job in a lawful, organised and systematic way.
Palm Cay marina targets 50% slip rental growth
The manager of New Providence’s newest full-service marina yesterday said he is expecting a “solid season” that could see a 50 per cent improvement in boat slip rentals, and an even greater increase in fuel and other services sales.
Ground broken on $15m solar farm project
LUCAYA Solar Power Ltd. officially broke ground on its $15m solar farm project in Freeport on Friday.
‘Let businesses set own rules over mask rules for customers’
GROCERY store managers said yesterday that while they support the lifting of the country’s mask mandate, they also believe businesses should be allowed to set their own mask wearing rules for customers.
36% of 'major' hotels at risk from sea rise
More than one-third of “major” Bahamian hotels will be impacted by just a one metre sea level rise, with a regional study calling for “serious and urgent” action to address the likely climate change impacts on this nation.
