Gov’t misses URCA ‘Holy Grail’ on GB Power deal
THE Government has missed its “Holy Grail” by failing to tie approval of the $35 million GB Power buy-out to the utility “subjecting itself” to URCA’s regulation.
'Too valuable' to allow $30m VAT uncertainty
The insurance industry is “too important to the Bahamian economy” to allow uncertainty over an unpaid $30 million VAT refund to persist, a top executive warned yesterday.Anton Saunders, RoyalStar Assurance’s managing director, told Tribune Business t
Realtors confident of beating 2017's 40-90% sales rise
Top realtors yesterday expressed confidence they will this year beat a 2017 sales performance that exceeded prior year comparatives by between 40 to 90 per cent.John Christie, H. G. Christie Ltd’s chief executive, told Tribune Business that the secto
Don't make Grand Lucayan into complete all-inclusive
THE Grand Bahama Chamber of Commerce’s president has warned against making the Grand Lucayan completely all-inclusive under new ownership.Mick Holding, in a recent interview with Tribune Business, said he did not want the complex’s three properties t
Development Bank eyes 37% loss fall
THE Bahamas Development Bank’s (BDB) chairman expects a 37 per cent reduction in its 2017 net loss to $1.2 million, and pledged: “We are headed in the right direction.”Lynden Nairn told Tribune Business in a recent interview that the Board is laying
Construction workers urged to exploit 'first-ever' job fair
JOB seekers in the construction industry were yesterday urged to take advantage of a “first-ever” opportunity to register their skills directly with potential employers via a ‘job fair’ later this month.Leonard Sands, the Bahamian Contractors Associa
Bahamian island hits the jackpot
THE purchase of a Bahamian private island was among the uses suggested for the $559.7 million won in the US Powerball Jackpot.In an ‘NBC Nightly News with Lester Holt’ segment that aired on January 3 about the Powerball Jackpot, reporter Joe Fryer ha
RBC imposes 2018 'moratorium' on fees
THE Royal Bank of Canada (RBC) has placed a moratorium on fee increases in 2018, a senior executive has confirmed.Kevin Darling, RBC’s head of business banking for the northern Caribbean, said: “RBC actually came out this year and put a moratorium on
'Sun-ryse' for firm's $6m new HQ target
A Bahamian information manager is aiming to raise $6 million for a new headquarters in west Nassau as part of a 2018 expansion that could increase staff by over one-third.Christiaan Sawyer, Sunryse Information Management’s president, confirmed to Tri
Insurance affordability fears rise on 15-20% premium increases
BAHAMAS First’s top executive believes “the time is really ripe” to examine how insurance can be made more affordable with property premiums set to increase 15-20 per cent in 2018. Patrick Ward, the underwriter’s president and chief executive, told T
Schooner Bay tries to rally homeowners - including PM
SCHOONER Bay’s developer has sought to rally homeowners - including Prime Minister Dr Hubert Minnis - after Tribune Business exposed its questionable Crown Land and real estate management.Dr David Huber, the Abaco-based project’s principal, in a Dece
Minister tells PLP: 'Sit small' on NHI
THE Minister of Health has told political opponents to “sit small” over National Health Insurance (NHI), while admitting he has yet to receive a written legal opinion on the scheme.Dr Duane Sands told Tribune Business that he would “absolutely” make
Gov't to refocus NHI on $60m critical care
THE Government is planning to refocus National Health Insurance (NHI) on catastrophic care, believing a $60 million budget “could do an awful lot if properly managed”.Dr Duane Sands, minister of health, told Tribune Business that he and the NHI Autho
Consumers 'delaying inevitable' if avoiding RBC's digital drive
CONSUMERS may be “delaying the inevitable” by moving from Royal Bank of Canada (RBC) to escape a digital banking drive that has attracted 60,000 persons to its mobile app.Kevin Darling, RBC’s head of business banking for the northern Caribbean, ackno
BOB to avoid default with $6.4m pay-out
Bank of the Bahamas (BOB) is making a $6.4 million pay-out to avoid defaulting on its preference shares, resulting in a $3 million “capital shock”.Wayne Aranha, the struggling BISX-listed bank’s chairman, told last week’s annual general meeting (AGM)
