Low growth linked to cronyism, blasts reform campaigner
A governance reformer has directly linked the Bahamas’ poor GDP growth and low business confidence to nepotism, cronyism and political favouritism impacting how commerce is conducted.
Governance study’s multi million diversifying boost
The Bahamas could enjoy a multi-million dollar jobs and economic diversification boost with policy reforms to facilitate targeted investment in key industries, amid warnings that “major economic assets are at risk”.
Work permit ‘restrictions’ cost shipping investment
The Bahamas lost an international shipping company’s investment to a rival Caribbean destination because of a “restrictive” work permit policy, an international consultant recommending this be restructured to drive economic growth. Oxford Economics, in a report commissioned by the Bahamas-based Organisation for Responsible Governance (ORG), called on this nation to tie foreign work permits to increased Bahamian employment, rather than identifying and training a local successor to take over.
Bran: Govt opposed Baha Mar Chapter 11 to hide self-dealings
The Democratic National Alliance’s (DNA) leader believes the Government so vehemently opposed Baha Mar’s Chapter 11 filing because it feared contracts held by public officials, and their families and associates, might be exposed in the US courts.
Downtown killing lays foundation to ‘destroy economy’
The Minister of Tourism is “deeply concerned” after a minibus driver was shot and killed in downtown Nassau last week, warning that such incidents are laying the foundation “for the total destruction of our economy”.
Minister seeks more airlift for Baha Mar
Baha Mar’s opening will usher in a new era in Bahamian tourism, a Cabinet Minister has promised, as his Ministry seeks out additional airlift to support the $4.2 billion development.
Central Bank warns over ‘repeat findings’
The Central Bank has warned licensees that it has seen “a significant incidence of repeat findings”, where issues identified by regulators in on-site examinations have not been resolved despite assurances to the contrary.
‘De-risking’ hits Bahamas costs clearance times
Bahamian financial institutions have incurred higher customer due diligence costs, and experienced longer transaction clearance times, due to global correspondent banking ‘de-risking’ trends.
‘No one should pull against Baha Mar’
Baha Mar is “no saviour” despite its potential to be a top GDP producer for the Bahamas, the Chamber of Commerce’s chairman predicting the project will be a ‘case study’ for how this nation manages such developments.
Jerome: My family’s firm was at Baha Mar
Jerome Fitzgerald has finally confirmed to Tribune Business that his family’s company did perform work at the $4.2 billion Baha Mar project, but not for the developer or any of its affiliates.
PM urged: ‘Show some spine’ and fire Fitzgerald
A Sarkis Izmirlian ally yesterday urged Prime Minister Perry Christie to “show some spine and fire” his Minister of Education over revelations that he tried to exploit his Cabinet position for private advantage.
Social entitlements ‘worthless’ without Govt fiscal order
The social entitlement programmes promised by all the political parties are “worthless unless we get our fiscal house in order”, a leading governance reformer urging: “Grow the economy, shrink the Government.”
Landfill ‘biggest pain source’ for Bahamas Waste
Bahamas Waste yesterday branded the New Providence landfill “our biggest source of pain” in 2016, with “disastrous” waiting times and equipment damage undermining revenue performance that was 8 per cent above expectations.
Save the Bays enjoys ‘karma’ on Fitz e-mails
Save the Bays’ legal director yesterday branded the controversy surrounding Jerome Fitzgerald as “karma is a b****”, adding that the Bahamas’ international reputation has been dealt “yet another blow”.
IAN FERGUSON: ‘Shout outs’ to the employee ‘X’ factor
We are products of our environment. Much of the culture that generations live out is as a direct result of what they have seen.
