Archive | May, 2012

FNM’s New Team Congratulated

Today the fact remains that they – in their decisive majority- decided in recently held general elections that they were sick and tired of Mr. Ingraham, his style of governance in hard times. And [of course] they rejected him because of the fact that he seemed –in his last days- to be quite out of [...]

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Nygard wants his day in Court

– International Fashion Designer Peter Nygard is going to Court in The Bahamas to prove that higher ups in the Lyford Cay Property Owners Association led by Mary Braithwaite were part of a conspiracy with the International Hedge Fund Billionaire Louis Bacon to chase him out of The Bahamas and cause him his $100 million [...]

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BEC Turns A Profit

Though small by industry standards, the Bahamas Electricity Corporation (BEC) recorded a profit in 2010, the first time in many years, according to the corporation’s report. The BEC 2010 report was tabled in the House of Assembly on Wednesday and noted that the corporation made incremental, yet marked improvements, during the fiscal year October 2009 [...]

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Budget Lame, Says Opposition

The Opposition says the Christie administration’s 2012/2013 Budget is a “lame, blame and more of the same” budget and said the newly elected government has demonstrated that it does not have a concise plan to move the country forward. In an hour long speech, Prime Minister Perry Christie read his communication detailing various programmes that [...]

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Deadly Gang Feud -Police Concerned About Nightclub Hours

Armed thugs burst into a popular nightclub early Tuesday morning and opened fire on the crowd killing one man and shooting seven others in what police say is a feud between two rival criminal gangs. The shootings happened at the Ballers Nightclub on East Bay and Mackey Streets at the foot of the Paradise Island [...]

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Fiscal Situation Worse Than Expected- Former Gov’t Increasingly Borrowed

Strapped with sizeable, ongoing capital expenditure commitments and a slew of last minute contracts signed by the former administration, the new government is faced with a “dire fiscal” situation – one that is much worse than expected. Presenting his first budget since winning the government earlier this month, Prime Minister and Minister of Finance Perry [...]

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Gov’t To Borrow $504M

The Christie administration will bring a resolution forward in the House of Assembly today to borrow more than $500 million to cover the government’s current fiscal deficit, Prime Minister Perry Christie revealed yesterday. Mr. Christie said that the government is seeking to borrow $504 million, though he did not disclose where the government will seek [...]

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Gov’t To Reclaim BTC

If Prime Minister Perry Christie has his way, the majority stake in The Bahamas Telecommunications Company (BTC) will return to the hands of the government and Bahamians. The nation’s chief made the announcement yesterday as he delivered the 2012/2013 Budget Communication in the House of Assembly. It’s a promise he made early last year after [...]

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Hospital Maintenance Workers Protest

Nearly 30 irate employees of the Princess Margaret Hospital’s (PMH) Engineering and Building Department walked off the job yesterday, refusing to return until their unresolved issues were addressed. One such matter was the administration’s decision to remove some workers off the shifts they have worked for the last 20 years. According to Bahamas Public Services [...]

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No New Taxes-Tax System To Be Revamped

Prime Minister Perry Christie has said repeatedly that The Bahamas’ financial situation is in serious problems, but during the 2012/2013 Budget Communication in the House of Assembly Wednesday, he said the Bahamian people will not shoulder this financial burden. Mr. Christie announced that for the fiscal year beginning July 1 there will be no new [...]

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