Local Business


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Law firm break-up blew Hilton lift plunge lawsuit

A hotel maid’s bid to obtain financial redress from the British Colonial Hilton was scuppered by the break-up of a law firm then co-headed by a newly-elected Cabinet minister.

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‘Freebie for mega wealthy must end’

A Bahamian realtor yesterday argued that “the freebie for the mega wealthy has got to stop” as he urged the Government to exploit the current high-end real estate boom to boost property tax revenues.

Fiscal Council wanted more recovery evidence

The Fiscal Responsibility watchdog’s chairman last night revealed it had wanted to see more evidence to support the Government’s belief “of a rapid return to normalcy” following the COVID-19 pandemic.

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Taxi union hits out at Atlantis

The Bahamas Taxicab Union (BTCU) yesterday hit out at Atlantis in a row over the enforcement of COVID-19 health and safety protocols, asserting that a recent incident was the “straw that broke the camel’s back”.

Activists urge ‘permanent’ ban on all oil exploration

Environmental activists yesterday urged the Davis administration to impose a total ban on oil drilling in Bahamian waters after an explorer confirmed it has still to settle outstanding licence fees due to the Government.

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Miller’s Mario’s re-open faces receivership block

An ex-Cabinet minister’s ambitions to re-open his family’s business are likely to be blocked by the Supreme Court-appointed receivers for the Bank of The Bahamas’ (BOB) bail-out vehicle.

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Health visa reforms ‘remove the friction’

Family Island hotel and business executives have hailed the travel visa’s removal for inter-island trips as “removing a lot of the friction” that was hindering domestic tourism and commerce.

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Gov’t warned: ‘Time not on Abaco’s side’

Abaco’s Chamber of Commerce president yesterday urged the Davis administration to quickly outline its plans for continued post-Dorian reconstruction, warning: “Time is not on our side.

Resolve on BOB stops $6m Gov’t ‘headache’

The Bank of The Bahamas bail-out vehicle has been able to meet its annual $6m interest payment for the past two-and-a-half years without creating a “headache” for the Government, its chairman has revealed.

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Build, build, build - STOP!


Ernst Hemingway once wrote that bankruptcies happen gradually, and then suddenly. Such words seem appropriate to describe the fate of Evergrande, one of China’s largest real-estate developers, that appears set to default on debt interest repayments.

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DEREK SMITH: Ethics critical to good business governance

The global issues we face today are multi-faceted and interconnected, and they are becoming increasingly complex with each passing day.

Brewery chief: Pre-COVID revenues not back till 2023

Commonwealth Brewery’s managing director has warned shareholders not to expect the group’s revenues to fully recover from COVID-19 “before 2023” following a $38.2m drop-off last year.

PM calls on UN for global tax oversight

The Prime Minister has renewed The Bahamas’ call for the United Nations to take more responsibility for overseeing tax and anti-financial crime initiatives that have battered its financial industry for two decades.

Electrical workers switch umbrella union affiliation

The Bahamas Electrical Workers Union (BEWU) has dropped its affiliation with the Bahamas National Congress of Trade Unions (NCTU), describing the umbrella body as “a sinking ship” that seems to be divided.

Retailers moving swiftly on Christmas inventory

Bahamian retailers are moving swiftly to ensure they have sufficient inventory for the upcoming Christmas holiday season as concerns mount elsewhere about the impact of supply chain shortages and backlogs.