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Feeling pinch of inflation
Some months ago, the former US Treasury Secretary Larry Summers predicted the oncoming onslaught of inflation and offered advice on how the US government ought to counter it. However, the Joe Biden led government ignored him and now the chickens are coming home to roost.
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DEREK SMITH: IT governance vital in data-driven world
Changing economic conditions, access to global markets, evolution of information technology and an increased demand for enhanced corporate governance are all contributing factors to the growth of the Board’s role in governance.
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McMinns and Tigers claim the Moosehead Cup
EUGENE McMinns won the third Atlantic Football League championship of his career, this time on the sidelines in his first season as a wide receivers’ coach for the Dalhousie Tigers staff.
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AUDIT LIFTS LID ON MINISTRY FAILINGS: ‘Many failures’ identified at Sports ministry Minnis ordered be ‘locked down’
A CONTRACT awarded without Cabinet approval is among the problems Auditor General Terrance Bastian uncovered when he audited the National Sports Authority for the period between July 1, 2018 to January 2021.
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PM will make decision on next steps for sports audit
PRIME Minister Philip “Brave” Davis will decide whether “damning” findings from an audit of the National Sports Authority should be turned over to the Attorney General’s Office for further investigation.
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‘Travel ban unfair - we need tests’
FREE National Movement leader Michael Pintard said countries have been premature and uneven in implementing travel bans on African nations.
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BPL’s Shell deal process ‘oblique’
Bahamas Power & Light’s (BPL) efforts to outsource electricity generation on New Providence were “oblique” and not fully transparent over a deal ultimately won by Shell North America.
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STATESIDE: Powell led a distinguished career
THE flags outside American defense headquarters at the Pentagon were all flying at half-staff Tuesday. Right below them, the familiar black clenched-fist MIA-POW banner saluted those still unaccounted for in overseas conflicts. A stiff northwesterly breeze kept the flags fully unfurled.
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Concern over illegal land clearances
ENVIRONMENT and Natural Resources Minister Vaughn Miller says his ministry is concerned about increased incidents of unlawful land clearing in the country, while vowing to clamp down on those engaging in the illegal practice.
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‘No political witch hunt over WSC’
PRIME Minister Philip “Brave” Davis has dismissed accusations that his administration is on a political witch hunt regarding the Water and Sewerage Corporation.
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BOOSTER JAB FOR AT-RISK PATIENTS: Third injection may be offered for elderly and those with health issues
HEALTH and Wellness Minister Dr Michael Darville said local officials are examining whether third shots should be made available to Bahamian residents who are immunocompromised and/or over 60 years old.
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EDITORIAL: A decision at last - but no solution for Grand Lucayan
WELL, so much for the Grand Lucayan deal.
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DEREK SMITH: Following the crowd fails your business
Risk management is a topic that has increasingly made headlines around the globe due to the COVID-19 pandemic. Locally, after the release earlier this month of my first article in this two-part series on why businesses fail, I have had multiple conversations with colleagues about risk management. What was evident is that views are split about whether proactive risk management or reactive risk management should be deployed by companies.
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BFSB chief awaits talks over ‘structural reform’
A senior Bahamas Financial Services Board (BFSB) chief executive yesterday said she anticipates wide-ranging talks on “overall structural reform” to make the economy more resilient will take place shortly.
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DEREK SMITH: Climate change risks key board discussion
Continued attention is being paid to climate change. In 2020, billionaires such as Jeff Bezos announced the establishment of a $10m fund to combat climate change.
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DEREK SMITH: Sanctions regimes that matter for us
According to the International Monetary Fund (IMF), Vladimir Putin’s war with Ukraine - and the sanctions that followed - will have a serious impact on the global economy. Despite the highly fluid conditions, and extraordinary uncertainty, surrounding the outlook, the economic impact is already being felt throughout the world with the affect on supply chains causing rippling economic shock waves.
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Shaback defends place on Dubai trip
SHABACK, the gospel group led by Office of the Prime Minister Press Secretary Clint Watson, has said its participation at Expo 2020 was in the works long before the former talk show host assumed his role in government.
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Merge compliance and risk to avoid surprises
The financial services industry had been implementing governance models designed to make its institutions more effective well before the COVID-19 pandemic began to wreak havoc on the world. Providers and supervised financial institutions have experienced severe changes in their regulatory compliance requirements since then, due to changing risks and increasing costs as a result of health and safety concerns, plus operational difficulties associated with remote work. And supply chain problems are seemingly relentless.
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No COVID slowdown for dodgy financial dealings
COVID-19 did not slow down questionable activities within the Bahamian financial services industry, it has been revealed, with suspicious transaction reports increasing by 26 percent in 2020.
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DEREK SMITH: ‘Digital transformation’ - The second part is key
Every company has been forced to reinvent itself, or re-evaluate how it does business, due to a digital evolution that some might call a revolution. Large companies have invested substantial resources in what is usually referred to as “digital transformation”. However, a problem occurs when they undertake a digital transformation plan without a clearly defined vision of what this should entail.