BDB: 'Everything turns' on $64m debt restructure
The Bahamas Development Bank’s (BDB) chances of meeting the Government’s three-year ‘self-sufficiency’ target depend entirely on its ability to restructure $64 million in long-term debt.Lynden Nairn, the institution’s newly-appointed chairman, told T
Central Bank back in compliance on Gov't debt limits
THE Central Bank yesterday said its government debt holdings are back in compliance with its governing Act, with medium and long-term maturities equal to 12.52 per cent of its demand liabilities.The regulator, responding to the IMF’s Article IV repor
Minister: GB needs a 'tourism identity'
GRAND Bahama must be given a signature tourism identity, a Cabinet Minister saying yesterday: “We cannot continue to proceed with stop gap measures.”Kwasi Thompson, minister of state for Grand Bahama, told the Senate that the Minnis administration wi
'Death spiral': Shocks put debt at 100% GDP
The Bahamas could be locked into “a death spiral” by 2022, with its national debt virtually equal to total economic output (GDP), if it fails to hit growth and fiscal consolidation targets.The International Monetary Fund (IMF), in its full Article IV
Gov't hailed for 'bush mechanic' crackdown
THE Government’s planned crackdown on ‘bush mechanics’ was yesterday hailed by the Bahamian Contractors Association’s (BCA) president, who branded the sector as “out of control”.Leonard Sands told Tribune Business he backed efforts by Desmond Bannist
Second CLICO payout three months behind
THE head of CLICO (Bahamas) creditors’ committee yesterday expressed optimism the Government will fulfill its promises to policyholders, despite being three months late with the latest payout.Basil Christie told Tribune Business that the committee un
20% construction boost if planning woes addressed
CONSTRUCTION activity would increase by 20 per cent if the Minister of Works makes good on his pledge to eliminate “under-staffing” at the Department of Physical Planning.Leonard Sands, the Bahamian Contractors Association’s (BCA) president, told Tri
Don’t be held ‘captive’ by US tax crackdown
THE Bahamas must not be deterred from making inroads into the multi-billion dollar captive insurance sector by a US tax crackdown, a local actuary said yesterday.
Baha Mar launches Hospitality Academy
BAHA Mar has launched its Hospitality Academy in a bid to equip Bahamians with the necessary skills and expertise for a career in the resort and tourism industries.The Baha Mar Hospitality Academy is a four-week programme aimed at developing future w
Minister: Gov't 'serious' on bank fee complaints
THE Minister of Labour yesterday moved to reassure Bahamians that the Government is serious about tackling complaints over bank fee increases.Speaking with Tribune Business, Dion Foulkes said: “What happened was there have been some recent increases
Minister reiterates call for economic 'liberalisation'
A Cabinet minister yesterday said “liberalisation” is needed to allow the Bahamas to fight the challenges of the modern economy.While addressing Parliament, Brent Symonette, minister of financial services, trade and industry and Immigration, said the
THE ART OF GRAPHIX: Trumpeting the way to better productivity
THEY say music is the universal language. Is this true? Or could it be that the art in music itself is a healer through its expression of humanity? It is something we are all touched by and, regardless of cultural background, everyone loves music.Par
BPL develops Bahamianmanagement strategy
BAHAMAS Power and Light’s (BPL) Board has developed a plan that will place the monopoly electricity provider back under Bahamian management, its chairwoman revealed yesterday.Darnell Osborne told Tribune Business that the Board’s proposal also includ
Gov’t blocks huge Customs shake-up
The Deputy Prime Minister yesterday confirmed he has halted the transfer of more than 250 Customs officers due to the upheaval such a shake-up threatens to cause.
Insurer chair: IMF ‘hits nail on head’ over disaster risk
THE IMF “hit the nail on the head” over the Bahamas’ disaster exposure, a senior insurance executive yesterday urging a “holistic” approach that includes the regional catastrophe scheme.
