Local Business


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Minister admits NHI wide open to fraud

The Minister of Health yesterday admitted that the National Health Insurance (NHI) scheme’s “non-existent checks and balances” have left taxpayers totally exposed to fraud and other financial abuses.

Non-profits slam Registrar General's 'bizarre' demands

The Registrar General’s demand for hundreds of Bahamian non-profit organisations to produce their annual financial statements was yesterday branded “crazy” and “bizarre”, with some pledging to resist. Paul Moss, a well-known financial services execut

Bahamas 'must do more'to combat cyber crime

The Bahamas must “recognise we’re not doing enough” to combat cyber criminals, the Chamber of Commerce’s chairman yesterday revealing the threat had given him several “wake-up calls”.Michael Maura, who is also Arawak Port Development Company’s (APD)

NAD mulls RFP for airport hotel

Lynden Pindling International Airport’s (LPIA) operator yesterday said the development of a 100-120 room hotel could be opened to all-comers via a Request for Proposal (RFP), after the initial developers elected not to “pursue” the project.Vernice Wa

NAD eyes solar to slash airport's $6.5m energy bill

The Nassau Airport Development (NAD) company is preparing to issue a request for information (RFI) on proposals for a solar PV system, in a bid to reduce the Lynden Pindling International Airport’s (LPIA) annual $6.5 million energy bill. Vernice Walk

MInister: 'Questionable projects tie my hands'

The Minister of Health yesterday said he is unable to improve healthcare facilities used by thousands of Bahamians because “my hands are tied by projects of questionable value”.Dr Duane Sands told Tribune Business that the contracts entered into by t

Labour director sees outsource dispute rise

The Director of Labour says employee outsourcing by Bahamian companies has provoked a number of disputes, particularly in the financial services and hotel industries.“There have been a number of matters from trade unions that had a small pocket of th

GB Chamber of Commerce partners up to clean up dumping areas

The Grand Bahama Chamber of Commerce partnered with businesses, local government and a contractor to clean up three areas that have been used for dumping in east Grand Bahama.Rudy Sawyer, operator of Blue Green Outdoors, a nature-based company offeri

IAN FERGUSON: Setting the platform for your leadership

The first 90 days is your ‘get ready’ period when, in your journey to success, you have to prove your value and worth. It is a vital time to obtain traction. It is proven that most leaders are selected from within a company’s line staff. These person

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Bahamas 'falls too far': 129th on cyber security

The Deputy Prime Minister yesterday conceded that the Bahamas “continues to fall too far down the scale”, after this nation was ranked 129th out of 164 countries for its commitment and effectiveness in fighting cyber crime.K P Turnquest acknowledged

Banking limitations restrict BISX model for crowdfunding

Banking system limitations are restricting the Bahamas International Securities Exchange’s (BISX) development of crowdfunding and small business listing platforms, its chief executive has revealed.Keith Davies, in a recent interview with Tribune Busi

Attraction's 'zip-py' 20 job expansion needs dual GB resolutions

A Freeport-based attraction operator yesterday said the Grand Lucayan’s closure, and Carnival’s proposed cruise port, must be resolved to sustain an expansion that will create 20 jobs.David Wallace, a principal in the all-Bahamian group that has inve

Only 'spend what you earn': Minister justifies NHI cuts

The Minister of Health yesterday defended the Minnis administration’s decision to cut National Health Insurance's (NHI) budget by two-thirds, telling this newspaper: “You ought to spend what you earn." “I wish we could spend $500 million, Dr Duane S

'Mr Fixit' finance minister urged: Avoid blame game

The Bahamas cannot afford for the Minister of Finance to undermine his standing as “Mr Fixit” by being caught up in a fiscal ‘blame game’, a leading businessman has warned.Sir Franklyn Wilson told Tribune Business that “we all lose” if K P Turnquest,

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Surprise BOB rescue plan weeks away

The Deputy Prime Minister yesterday pledged that “a comprehensive plan” to rescue Bank of the Bahamas will be unveiled by its August 2 shareholders’ meeting, the institution having “abandoned” its legal battle with the Central Bank.