Consumer Commission sees complaint increase
THE Consumer Protection Commission’s (CPC) chairman yesterday said it was working “expeditiously” to resolve a significant increase in public complaints.Philip Beneby said the CPC has raised its public education and awareness efforts in recent months
IDB executive warns over Gov't spending
GOVERNMENT spending creates jobs “only up to a point”, a top Inter-American Development Bank (IDB) executive said yesterday, noting that studies have shown it reduces economic growth.Therese Turner-Jones, the IDB’s Bahamas country manager, said: “Eve
Investors: RBC account closures 'utter nonsense'
Furious expatriates have slammed Royal Bank of Canada’s (RBC) closure of their accounts without warning as “utter nonsense”, amid fears it could harm the Bahamas’ reputation and second homeowner economies.Tribune Business can reveal that winter resid
RBC's digital drive: Branch transactions may drop by 33%
ROYAL Bank of Canada (RBC) believes its digital banking drive will slash in-branch transactions by up to one-third, reduce fraud and combat “all the noise in the marketplace” over bank fees.Nathaniel Beneby, RBC’s Bahamas managing director, said the
Bahamas 'done everything possible' to avoid blacklist
THE Deputy Prime Minister believes the Bahamas has “done everything we could possibly do” to escape the European Union (EU) ‘tax haven’ blacklist that will be issued tomorrow.K P Turnquest told Tribune Business that the Minnis administration “has no
DPM: 'Early' 2018 for business ease boost
THE private sector was yesterday urged to watch for business ease improvements “early” in the 2018 first quarter, with the Deputy Prime Minister revealing: “Nothing has been ruled out.”K P Turnquest told Tribune Business that the Bahamas needed the p
RBC says digital switch ‘not about downsizing’
ROYAL Bank of Canada (RBC) says its move to become a Bahamas and Caribbean leader through digital conversion is “not about downsizing”.
DPM targets 50% tourism GDP boost
THE Bahamas could increase tourism’s economic contribution by 50 per cent if it can drive hotel occupancies to an average 90 per cent, the Deputy Prime Minister believes.K P Turnquest told the Bahamas Hotel and Tourism Association’s (BHTA) annual gen
Bahamas aims to 'stay ahead' of blacklisting
THE Bahamas hopes to stay “ahead of the curve” and avoid any potential blacklisting by signing on to several parts of the OECD’s Common Reporting Standard (CRS) in the next few weeks.Brent Symonettte, minister of financial services, trade and industr
Government achieving spending targets
THE Deputy Prime Minister says the Government is hitting its targeted spending cuts, adding: “We seem to be on track”.K P Turnquest said: “We think that we are meeting our targets. We seem to be on track. “We continue to be vigilant and manage carefu
Software developer: Tax woe drove us to Cayman
A Bahamian software developer yesterday revealed he was forced to domicile in the Cayman Islands to prevent VAT and Business License fees “killing” his competitiveness.Bruce Raine, International Private Banking Systems (IPBS) principal, told Tribune
CLICO liquidator eyes BAF management deal
CLICO (Bahamas) liquidator is aiming to secure a pre-Christmas deal to outsource management of its remaining insurance portfolio to BAF Financial.Basil Christie, head of the insolvent insurer’s creditors’ committee, yesterday confirmed to Tribune Bus
Bahamians told: 'Forget about being protectionist'
BAHAMIANS are too scared of foreign competition, a local businessman warned yesterday, adding: “We have to forget about being protectionist.”Bruce Raine, International Private Banking Systems (IPBS) principal, told Tribune Business that an increasing
PLP 'crazy' to oppose brain drain reversal
A CABINET Minister yesterday slammed the PLP’s “crazy” opposition to the Government’s bid to halt the loss of the Bahamas’ “best and brightest”.Dionisio D’Aguilar, minister of tourism, told Tribune Business that the Minnis administration was trying t
'Very important' for Atlantis, Baha Mar to get separation
A FORMER tourism minister yesterday said it will be “very important” for Atlantis and Baha Mar to differentiate themselves and prevent visitor ‘cannibalisation’Vincent Vanderpool Wallace, founder of the Bedford Baker Group consultancy, said the Baham
