Local Business


BPL faces early Shell call on ‘shortfall’ fear

Bahamas Power & Light (BPL) will reach out to Shell to bridge any near-term “shortfall” in Nassau’s power needs due to the recent Clifton Pier fires, it was revealed yesterday.

'One-stop shop' to exploit 50% foreign investment cost cut

RoyalFidelity will tonight launch a “one-stop shop” investment management platform that aims to exploit the more than 50 percent cut in the premium Bahamians pay to invest overseas.Michael Anderson, pictured, the Bahamian merchant bank’s president, t

DPM: Bahamas to 'fare well' in financial crime assessment

THE Government is confident The Bahamas will “fare well” in the latest assessment of its anti-financial crime defences following corrective action by the Minnis administration.K Peter Turnquest, pictured, the deputy prime minister, yesterday said the

Disabled manager wins Atlantis dismissal victory

Atlantis failed to exhaust all options in finding a suitable post for a 30-year disabled veteran, the Court of Appeal ruled yesterday, describing the case as a legal “first” in The Bahamas. The court, unanimously upholding an earlier Industrial Tribu

Ginn purchaser's '$1 per year' marina offer no-go

A neighbouring developer yesterday rejected the $2.8bn Ginn purchaser’s “demand” to lease marina fuel facilities for $1 per year as “silly”, while reaffirming his desire to co-operate with its plans.John MacDonald, president of Island Ventures Resort

Bahamas must innovate to grow financial services

THE Bahamas must develop new and innovative financial services products to build on its traditional roots, a Cabinet minister said yesterday.Brent Symonette, minister of financial services, trade and industry and Immigration, told an anti-money laund

Governor forecasts more financial industry shrink

THE CENTRAL Bank’s governor yesterday forecast a further decrease in the number of banks and trust companies operating in The Bahamas, with several smaller entities indicating plans to exit.John Rolle, pictured, addressing an anti-money laundering/co

Credit Bureau bidder 'shortlist' this month

POTENTIAL operators for The Bahamas’ first-ever credit bureau will be “shortlisted” this month, the Central Bank’s governor said yesterday.John Rolle, addressing an anti-money laundering/counter terror financing conference organised by the regulator,

$2.8bn project's closing delayed by marina issue

The $2.8bn revival of Grand Bahama’s West End, which promises to create 1,400 full-time Bahamian jobs, has been delayed by marina-related concerns that have impacted the deal’s closing.Tribune Business can reveal that Skyline Investments, the Toronto

'One-stop shop' for Bahamians to trade globally

A bank has unveiled an online trading platform to give Bahamian investors direct “one-stop shop” access to the US and global financial markets.Cornèrtrader, a subsidiary of Bahamas-based Cornèr Bank (Overseas) subsidiary, said the initiative was desi

Former beauty queen: I'm not 'money hungry'

A Bahamian beauty queen-turned-songstress has accused the Ministry of Tourism of using “sharp tactics” to portray her as “money hungry” in the latest salvo of their acrimonious legal battle.Khiara Sherman, the former Miss Bahamas Universe, and her US

Govt reassurances on WTO 'irrelevant'

The Government’s drive for full WTO membership by mid-2020 is “unnerving” for Bahamian firms, a businessman branding reassurances from its new chief negotiator as “irrelevant”.Robert Myers, pictured, the former Bahamas Chamber of Commerce chairman, t

Anti-trade groups: 'We'll awaken the Bahamian people'

Anti-free trade activists have pledged to mobilise and “awaken the Bahamian people” against joining the WTO, with one saying: “Our leaders just don’t recognise the danger.”Paul Moss, a leading member of the Bahamians Agitating for a Referendum on Fre

BAIC to assist on web, social media

The Bahamas Agricultural and Industrial Corporation (BAIC) is aiming to help small businesses establish on online and social media presence to boost their visibility both locally and abroad.BAIC will tomorrow host a workshop facilitated by Kristi Pow

Western Union targets 'top priority' out islands

WESTERN Union’s regional head says the company is targeting the Family Island vacuum caused by the withdrawal of the commercial banks as “a top priority”.André Largie said the commercial banking exit is enabling the money transfer business to expand