IMF ‘boiler plate’ no solution for taxation ‘bugs’
An ex-Attorney General yesterday said that while the Bahamas’ tax system “needs to be fixed”, that cannot be achieved through “boiler plate recommendations” such as the IMF’s.
Bahamian providers ‘lack enthusiasm’ on dodgy deal tip-offs
Bahamian financial institutions show “a lack of enthusiasm” in reporting clients’ questionable transactions to the authorities, a Caribbean regulatory body has warned.
‘Secure the future’ by lowering money laundering ‘risks’
The Bahamas needs to “take the tough policy decisions” necessary to improve its ‘high risk’ rating for money laundering and “secure the future”, a former BFSB chairman argued yesterday.
Taxi drivers seek reciprocity over NAD fees plan
Taxi drivers need something in return for accepting new fees at the Lynden Pindling International Airport (LPIA), a union president yesterday agreeing the visitor experience needed improving.
Brent: Liberalisation key to 'economic success'
A Cabinet minister told the Bahamas Financial Services Board’s 2017 annual general meeting (AGM) that liberalisation is key to this nation’s economic success.Brent Symonette, minister of financial services, trade and industry, and immigration, acknow
Morton Salt workers back on 3-day week
Employees at Morton Salt, Inagua’s primary employer, have returned to work albeit on a three-day week, their union president said yesterday.Jennifer Brown, head of the Bahamas Industrial Manufacturers and Allied Workers Union (BIMAWU), told Tribune B
Atlantis appoints its first female president
Atlantis yesterday confirmed it has promoted from within to replace Howard Karawan, making Audrey Oswell the resort’s first female president and managing director.Ms Oswell has risen through Atlantis’s executive ranks, having served as chief gaming o
$70m condo complexhits 75% sales mark
A $70 million Cable Beach-based condominium complex has 75 per cent of its units either sold or under contract, benefiting from its proximity to Baha Mar.The developers behind ONE Cable Beach are now seeing active interest in their most expensive off
Dunkin' Donuts unveilsseventh Nassau location
Dunkin’ Donuts yesterday announced the opening of its seventh Nassau location in the Lynden Pindling International Airport’s (LPIA) arrivals terminal, with the opening set for September 29.The new location is located in a pre-security clearance area,
Bahamas urged: 'Clean up' $184m unverified accounts
A Caribbean regulatory body has urged Bahamian banks to show “more dedication and urgency” in cleaning up 20,000 ‘unverified’ accounts that collectively hold almost $184 million.The Caribbean Financial Action Task Force (CFATF), in its July 2017 repo
Landfill tender release before 2017 year-end
The Government hopes to finish and issue the New Providence landfill management tender before year-end, a Cabinet Minister yesterday saying: “All options are on the table.”Romauld Ferreira, minister of the environment and housing, told Tribune Busine
Central Bank to unveil new money laundering sanctions
The Central Bank plans to create a new sanctions regime for anti-money laundering deficiencies, as it bids to move the Bahamas from a ‘high risk’ to “at least medium risk” jurisdiction.John Rolle, the regulator’s governor, responding to the Caribbean
Police 'lacking capacity to pursue' money launderers
The Royal Bahamas Police Force (RBPF) “lacks the capacity to effectively pursue” money laundering offenders due to inadequate skills, training and resources.The Caribbean Financial Action Task Force (CFATF), in its July 2017 assessment of the Bahamas
Chamber chief: BPL contracts ‘certainly curious’
The Chamber of Commerce’s chief executive has described as “certainly curious” revelations that Bahamas Power & Light (BPL) awarded multi-million dollar contracts to entities that were not the best bidder.
Fishermen 'not optimistic' over grouper extension
Bahamian fishermen would “welcome” an extension to the Nassau Grouper season, but the Bahamas Commercial Fishers Alliance’s (BCFA) president is not “overly optimistic” it will happen.Adrian LaRoda said that in 2012, the BCFA lobbied the Christie admi
