Bahamas must ‘plant seeds’ beyond Baha Mar growth impact
The Central Bank’s governor yesterday said the Bahamas needs to “plant seeds” for economic growth beyond Baha Mar to ensure it satisfies the credit rating agencies.
Governor: ‘No persuasive case’ price controls work
The Central Bank’s governor yesterday said “a persuasive case” cannot be made that price controls work properly, as he reiterated his stance against their imposition on bank fees.
Insurance chief: KYC regime ‘huge obstacle’ to economic growth
A senior insurance executive yesterday slammed the Bahamas’ “ridiculous” Know Your Customer (KYC) regime, describing it as “one of the biggest impediments” to economic growth.
Bahamian manufacturers aiming to be ‘top of mind’
A Bahamian manufacturing organisation is seeking to become “top of the mind” again with policymakers, having this week launched a marketing campaign to revitalise the sector.
Liquidators disclose no adverse Sarkis findings
Baha Mar’s liquidators yesterday made no criticisms of Sarkis Izmirlian and his fellow directors, despite revealing the project had been left insolvent with multi-billion dollar liabilities.
Chinese seek ‘urgent assistance’ from Govt on Pointe approvals
The $250 million Pointe project’s Chinese developer urged the Government to quickly provide construction approvals just days after Beijing unveiled plans to restrict overseas investments.
‘Suffocating’ KYC causes lawyer 5-year bank wait
A well-known QC yesterday revealed “suffocating” Know Your Customer (KYC) rules have blocked his five-year effort to add another lawyer to his firm’s bank account.
Chamber slams Christie Govt’s insurance cancel
Hurricane Matthew’s fiscal impact means the Christie administration was “obviously incorrect and wrong” to cancel the Bahamas’ disaster insurance, the Chamber of Commerce’s chief executive said yesterday.
Informal sector’s 1/4 economy share may be ‘too conservative’
Estimates that the ‘informal’ economy accounts for around one-quarter of Bahamian output may be too “conservative”, the Chamber of Commerce’s chief executive said yesterday.
‘The tourism dilemma’: GB has less tourists than 1977
The Minister of Tourism yesterday blamed his predecessor for “locking up” precious marketing dollars, as data revealed that Grand Bahama attracted MORE stopover visitors 40 years ago.
No BPL bond refinance if energy costs increase
BAHAMAS Power & Light’s (BPL) multi-million dollar liabilities will not be refinanced with a Rate Reduction Bond (RRB) if it increases electricity costs for the Bahamian people.
‘Society of chaos’ warning over get rich quick schemes
THE Bahamas will disintegrate into “a society of chaos” if unregulated investment schemes continue to flourish, a fraud examiner yesterday warning that the “mindset” needs to change.
Liquor retailers: Competition watchdog ‘urgently needed’
INDEPENDENT liquor retailers yesterday said a competition watchdog and antitrust regulations were “needed urgently”, as they again hit out at Commonwealth Brewery.
Moody’s: Deficit could hit $636m
The Bahamas’ 2016-2017 fiscal deficit could rise as high as $636 million or 7 per cent of GDP, Moody’s has warned, due to the Christie administration’s pre-election spending binge.
Gov’t gains $96m in tax cheat crackdown
The Government netted almost $96 million in the first six months of its crackdown on corporate and high net worth tax cheats, it has been revealed.
