Gov't targeting 'fiscal rule' legislation by March 2018
THE Government will introduce legislation for ‘fiscal rules’ in February/March 2018 to prevent “runaway spending”, the Deputy Prime Minister said yesterday. K P Turnquest said the Minnis administration was committed to introducing the legislation in
Gov't eyes 'contingency bonds' for storm funding
THE government is exploring “contingency bonds” as a means of providing emergency funding for major hurricane-related catastrophes, the Deputy Prime Minister said yesterday.K Peter Turnquest, speaking at a fiscal policy workshop hosted by the Inter-A
Bahamas not exploited data from 100m visitors
A FORMER tourism minister yesterday said the Bahamas must use visitor data to assess trends and make better “business decisions”, adding: “We haven’t used it to the degree we should have”.Vincent Vanderpool-Wallace, founder of the Bedford Baker Group
Sterling names ex-minister to head new advisory unit
DAVID Kosoy’s Sterling Global Financial has named a former Cabinet minister to head its newly-created advisory arm. The real estate development financier has appointed Khaalis Rolle, ex-minister of state for investments, to lead Sterling Global Advis
CIBC gains 'Bank of the Year' award
CIBC FirstCaribbean International Bank has attributed its second consecutive ‘Bank of the Year’ prize to its adoption of innovation and efficiency.CIBC’s Bahamas managing director, Marie Rodland-Allen, accepted the award on the bank’s behalf at the 1
Bahamian's tech start-up upgrades anti-crime tool
A FINANCIAL technology start-up created by Bahamian born E. Jay Saunders has upgraded its crime-fighting program with the addition of new capabilities.Domus Semo Sancus’ (DSS) said its SafetyNet Safe City, a version of its award-winning Enhanced Due
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
