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Casino reforms keep expat resident bar

The Government’s decision not to allow permanent residents and work permit holders to gamble in Bahamian casinos is a “miniscule” issue that will not delay much-needed reform, a tourism industry executive said yesterday.

Bahamas ‘on probation’: 17-step action plan cure

The Government has detailed a 17-step ‘action plan’ to strengthen the Bahamas’ anti-money laundering regime, with a top regulator describing this nation as “on probation” over increasing weaknesses.

Butterfield Bahamas returns to the black

By NEIL HARTNELL Tribune Business Editor Butterfield Bank (Bahamas) narrowly scraped into the black with a $2,000 net profit for its 2011 financial year, reversing the $3.962 million worth of red ink it incurred in the 12 months to December 31, 2010. Det

Butterfield Bahamas returns to the black

By NEIL HARTNELL Tribune Business Editor Butterfield Bank (Bahamas) narrowly scraped into the black with a $2,000 net profit for its 2011 financial year, reversing the $3.962 million worth of red ink it incurred in the 12 months to December 31, 2010. Det

Butterfield Bahamas returns to the black

By NEIL HARTNELL Tribune Business Editor Butterfield Bank (Bahamas) narrowly scraped into the black with a $2,000 net profit for its 2011 financial year, reversing the $3.962 million worth of red ink it incurred in the 12 months to December 31, 2010. Det

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Governor to ‘bridge gap’ between banks, web shops

The Central Bank’s governor has reaffirmed his commitment to “bridge the gap” between the commercial banking industry and web shop operators, and help ease his licensees’ compliance concerns.

QC: Legalisation of web shops has defied the critics

The web shop industry’s legalisastion has produced the opposite effect to the predictions of many critcs, a well-known QC has argued.

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‘No guarantees’ for web shops

Web shop operators were yesterday said to be “very concerned” over the uncertainty and lack of any guarantees surrounding the industry’s impending legalisation.

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‘Wild Wild West’ web shop oversight hits Gaming Board

* AG: ‘Difficulty’ undermines ‘blue ribbon’ status * Gov’t ‘seconding’ anti-money launder specialists * Will ‘address forthwith’ web shop money transfers

THE Gaming Board’s “blue ribbon” reputation has been hurt by taking on regulation of the “Wild Wild West” web shop sector, the Attorney General said yesterday. Carl Bethel QC told Tribune Business that the Government was now seconding more experienced anti-money laundering regulators from other agencies to the Gaming Board in a bid to get to grips with a sector deemed “high risk”.

Lyford Cay Club in $17m shopping centre purchase

The Lyford Cay Club is moving to close a $17 million deal to acquire its old shopping centre from New Providence Development Company, with plans to convert it into a mixed-use retail, residential and marina project.

Marina Village shop wins 'priceless' award

Marina Village shop wins 'priceless' award A shop packed floor to ceiling with accessories, swim and resort wear walked away with top honours and a cheque for $1,000 in an ongoing monthly contest to identify winning merchants, restaurants, attractions an

Consolidated Water: Bahamas revenues grow 22.5% in 2011

By NEIL HARTNELL Tribune Business Editor Revenues generated by BISX-listed Consolidated Water's Bahamian operations increased by 22.5 per cent year-over-year during 2011 to total just shy of $20 million, accounting for a five percentage point increase in

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Renewable energy firm 'sidelined' by BEC on tender

By NEIL HARTNELL Tribune Business Editor A renewable energy provider has told Tribune Business it felt "sidelined" by the Bahamas Electricity Corporation's (BEC) decision to close its open bidding process and then subsequently sign an agreement with Ocea

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'

By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.

IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'

By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.