Broker: I was FBI’s ‘bait’ for fraudsters
A Bahamas-based broker and its principal have allegedly been used as “bait” by the Federal Bureau of Investigations (FBI) to help snare numerous international securities fraudsters.
Sir Franklyn: Bahamas is ‘in very dangerous spot’
Arawak Homes’ chairman has urged ‘risk takers’ to do more if the Bahamas is to shake off its economic malaise, warning that the country “is in a very dangerous spot”.
‘Gratified’ by Grand Lucayan bid quality
Hutchison Whampoa’s property arm should “soon” announce the Grand Lucayan’s fate, its advisers saying they were “gratified’ by the quality of bids submitted to purchase the resort.
Legal liberalisation ‘won’t advance’ if backing inadequate
Legal profession ‘liberalisation’ “will not advance” unless research shows a majority of Bar Association members are in favour, a group of attorneys pledged yesterday.
National debt near $6.8bn following Govt spend rise
A 17.3 per cent increase in total government spending drove a $125 million jump in the national debt to almost $6.8 billion at end-March 2016, the Central Bank has revealed.
Bahamian commercial bank jobs contract 7%
Bahamian jobs in the commercial banking sector contracted by 7 per cent in 2015, as outsourcing and technology continued to take a toll on employment levels.
Bahamas needs ‘urgent shift’ towards reforms
The Bahamas requires “an urgent shift” towards implementing structural reforms that are “growth friendly” but will take time to deliver, the IMF has warned.
IMF: Deficit will be $100m above forecast
The International Monetary Fund (IMF) has warned the Government that its fiscal consolidation projections are “too optimistic”, and that the deficit for the just-closed 2015-2016 year will be around $100 million higher than forecast.
Minnis’ VAT exemption plan to cost Govt $60m
The International Monetary Fund (IMF) has again shredded plans by Opposition leader, Dr Hubert Minnis, to introduce numerous Value-Added Tax (VAT) exemptions if elected to office, warning these could cost the Government some $60 million in revenues.
Govt’s $2.2bn pension liabilities represent ‘major’ fiscal risk
The Government’s unfunded $2.2 billion pension liabilities are “a significant fiscal risk” that could undermine efforts to get the public finances back on a sustainable footing, the International Monetary Fund (IMF) is warning.
Bahamian economy performing $200m below potential
The Bahamian economy is performing $200 million below potential, the IMF has warned, and is not expected to close this gap until 2019 at earliest.
Bar to ‘determine once and for all’ liberalise stance
“determine once and for all” its position on the free movement of labour, its president pledged yesterday, after a group of attorneys brought legal ‘liberalisation’ to the fore again.
IAN FERGUSON: Channelling emotion for business benefits
Wikipedia defines ‘Emotional Intelligence’ as the capacity of individuals to recognise their own, and other people’s, emotions, and to discriminate between different feelings and label them appropriately. It also involves the use of emotional information to guide thinking and behaviour.
GB Power challenges regulation by URCA
Grand Bahama Power Company (GBPC) is challenging the Utilities Regulation and Competition Authority’s (URCA) ability to license and regulate it, arguing that this “conflicts” with Freeport’s founding law.
Cable confirms capital raising profits ‘drag’
Cable Bahamas has acknowledged that costs associated with recent debt capital raisings “have dragged on profitability and cash flow”, helping push it into a $14.371 million net loss for 2015.
