Data watchdog’s ‘social chaos’ warning to MPs
The Data Protection Commissioner has warned MPs against tabling private correspondence in Parliament, describing it as “a dangerous trend” that will lead to “society chaos”.
BOB yet to convince over future ‘viability’
Bank of the Bahamas’ recently-announced restructuring plan has yet to convince one outspoken shareholder, who says it provides little reassurance “on the viability of the bank”.
Investor recovery delay on ex-Cola plants’ sale
The inability to sell two-thirds of a BISX-listed company’s real estate portfolio is hampering efforts to realise “one of the most significant assets” and recovery sources for investors in a failed $471 million Bahamian-domiciled fund structure.
Financial industry in confidentiality ‘tsunami wave’
Government ministers were yesterday accused of unleashing “a tsunami wave” that threatens to swamp the Bahamian financial services industry by publicly releasing confidential information belonging to the Save the Bays.
IMF: ‘Decisive structural shift’ call on Bahamas
The International Monetary Fund (IMF) yesterday demanded “a decisive shift in structural policies” to increase the Bahamas’ economic growth rate beyond the forecast 1.5 per cent, branding this as essential to cut high unemployment.
BOB: ‘No stone left unturned’ in restructure plan
Bank of the Bahamas’ (BOB) managing director yesterday pledged to “leave no stone unturned” in returning to sustainable profitability, although few specifics were provided on a “transformation” exercise said to have been underway since January 2016.
MPs battle over 20,000 jobs claim
A Cabinet minister yesterday asserted that the Christie administration has created 20,000 jobs since May 2012.
New Planning Bill weakens oversight
The Planning and Subdivision Bill (PSA) 2015 does not promote sustainable development and “dramatically” reduces the public’s right to be informed and consulted about developments, an environmental attorney said yesterday.
$16m CLICO payout to launch next week
A prominent CLICO (Bahamas) policyholder yesterday pledged he would “continue to challenge” the authorities to ensure such a debacle is never repeated, with the $16 million cash payout to former clients set to begin next week.
One in four companies ‘victimised’ by crime
Almost one in four Bahamian businesses were “victimised” by crime in 2013-2014, a newly-released Inter-American Development Bank (IDB) report has revealed, with violent crime slashing $50 million off this nation’s annual growth over a 16-year period.
Ex-director ‘sceptical’ over Baha Mar process
An ex-Baha Mar director yesterday said he was “a little sceptical” that the newly-launched process to sell the $3.5 billion project would produce a positive outcome for the Bahamas, adding: “We’re still in for the long haul.”
BICA urges: ‘Move Business Licence into 21st century’
The Government is being urged to “move Business Licence accounting into the 21st century” by amending the Act so that key terms conform with international standards.
Businesses suffered 10-20% revenue fall, ex-Minister agrees
A former Minister in the Christie Cabinet has acknowledged that Bahamian businesses experienced an average 10-20 per cent revenue reduction in 2015 post-Value-Added Tax’s (VAT) introduction, and called on his former colleagues to focus on economic growth,
Private manager for NHI public insurer
The Government has accepted the recommendation from its latest National Health Insurance (NHI) consultants that the scheme’s proposed public insurer be operated by a private sector manager.
Lift the roof on ventilation costs
Is winter over already? Are we prepared to beat the heat this year? On a hot summer afternoon, you probably would not consider propping open your refrigerator door to cool off your kitchen. Neither would you run your air conditioning while wearing warm jackets in January. No one would think about throwing away money like that, right? But I find that many of my fellow Bahamians do just that all summer by cranking up their AC in homes that are poorly ventilated.
