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'Lighter touch' regulation' for credit unions under $1m
Draft legislation is proposing a ‘light touch’ regulatory regime for credit unions with assets under $1 million, the Central Bank noting that the sector’s total assets have increased by 39 per cent since 2007.
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Cable closes first Florida acquisition
Cable Bahamas yesterday confirmed it had closed one of its four Florida acquisitions, purchasing US Metropolitan Telecom for $23.256 million.
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Bahamas 'rises from captives extinction'
The Bahamas has “risen from extinction” in captive insurance, a leading industry player said yesterday, with this nation’s growth rate over the past three years “exceeding any other jurisdiction”.
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Nassau Palm's new owners in $8m upgrades
A private equity group plans to invest $8 million in upgrading the Nassau Palm Resort after completing the downtown Nassau property’s acquisition on Friday.
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Construction fears over 150% Business Licence fee increase
Most Bahamian construction firms are staring at a 150 per cent increase in their Business Licence tax rate, a senior industry executive warning the Government it was “trying to kill the goose that laid the golden egg”.
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'Embrace' private sector into work permit decisions
Private sector representatives should sit on the Immigration and Labour Boards, a well-known businessman suggested yesterday, warning that many companies were beginning to “resent” being forced to hire understudies as a condition of work permit approvals.
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Cable builds US 'mirror image' via new $24m deal
Cable Bahamas yesterday unveiled its third Florida acquisition within three months via its $24 million purchase of a Caribbean Crossings “mirror image”.
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Credit union member growth expands 29%
By NEIL HARTNELL Tribune Business Editor Bahamian credit unions have outpaced commercial banks through an average total asset growth rate of 9.25 per cent over the past five years, the Central Bank's governor said yesterday, their collective membership h
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