Cabinet still considering way forward with Oban deal

While remaining mum on the likelihood of Oban Energies’ $5.5 billion oil refinery and storage facility project advancing, Minister of Labour Dion Foulkes said Cabinet was still reviewing a technical report that examines the original heads of agreement signed in February. Foulkes chairs the Cabinet subcommittee charged with examining the deal. Asked about the likeliness […]

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GB Tech Summit attracts hundreds

The second installment of the Grand Bahama Tech Summit kicked off in the nation’s second city on Wednesday morning and according to Kwasi Thompson, Minister of State for Grand Bahama, the event attracted a larger number of participants than initially expected. “We are actually oversubscribed. We had to close off online subscription and at that […]

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No lights at straw market discourages tourist spending

Opposition leader hears vendors’ concerns Sections of the world-famous straw market on Bay Street had no light for more than a year, and this has led many tourists away, claimed Irene Rolle, a Bay Street straw vendor of 50 years. “Many refused to come off the ship because they were told the market is too […]

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Aviation ministry sets eyes on new revenue outlet

The government can look forward to collecting a new stream of income in the coming months as the aviation ministry prepares itself to begin charging international carriers for flying through its airspace, according to Dionisio D’aguilar, Minister of Tourism and Aviation. D’Aguilar confirmed to Eyewitness News Tuesday that his ministry is in the is the […]

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Pratt denies involvement in work permit scheme

Former Director of Immigration William Pratt has denied any involvement of a work permit scheme that facilitated an alleged fraud visa ring as outlined in court documents for a U.S. Federal Bureau of Investigation report. In a statement released Monday, Pratt said it has been brought to his attention that by implication and calling his […]

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BPL: No timeline for Clifton assets to return

Bahamas Power and Light (BPL) officials were unable to say yesterday how soon two critical assets that were being assessed by insurers as part of their investigation into several fires at the Clifton Pier Power Station in September, could be put back online. The loss of the DA-11 and DA-12 generators has forced BPL to […]

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PM touts govt’s stewardship of public finances

Declaring the nation’s public finances are being restored, Prime Minister Dr. Hubert Minnis heralded his administration reducing the annual deficit in half during the first quarter of the fiscal year. He indicated that while doing so the government has continued to make significant investments in education, entrepreneurship and anti-crime programs, among other initiatives geared toward […]

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Ministers meet with EU, OECD to discuss ending tax watchlist

Deputy Prime Minister and Minister of Finance,  K. Peter Turnquest, led a delegation to Brussels and Paris this week, for frank discussions with high-ranking officials within the European Commission and the Organization for Economic Co-operation and Development (OECD) on The Bahamas’ compliance with international standards on tax governance. The meetings also centered around the high-level […]

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Baha Mar sets eyes on Asian market

Tourism and Aviation officials are hopeful that discussions regarding the introduction of direct flight service between China and The Bahamas, via a Chinese air carrier, will soon materialize, according to Robert Sands, Senior Vice President of Administration and External Relations at Baha Mar. Sands revealed exclusively to Eyewitness News that the Asian market has presented […]

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Businesses granted duty waivers for apparel imports

The Ministry of Finance is inviting retail shoe and clothing merchants to take advantage of the customs duty waiver that is available to businesses to reduce the cost of importing goods. Since the policy was announced in July, with the start of the 2018/2019 budget year, the Ministry of Finance granted waivers to 154 applicants. […]

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BPL: Electricity rates will not increase by 70%

Bahamas Power and Light (BPL) said it unequivocally denies the “erroneous” rumours of a 70 per cent increase in electricity rates. “We have no intention of increasing the price of electricity for the Bahamian people by 70 per cent,” outlined a statement released by BPL last night. “Further, BPL does not have the authority to […]

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Gov’t. eyes more aggressive increase in Ease of Doing Business rankings

Following the Prime Minister’s mandate to make ease of doing business a top priority for the Government, the Ministry of Finance is spearheading an inter-agency working group to make business faster, cheaper and better in The Bahamas. The incremental move in the latest World Bank Ease of Doing Business ranking is a welcomed sign that […]

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