Central Bank: Bad loans below $1bn by year-end 2017
The Central Bank of the Bahamas believes that commercial bank ‘bad loans’ will dip below the $1 billion mark by the end of 2017, with institutions only requiring more capital if they increase by 200 per cent.
Solar AC shines for savings light
Where did winter go? Just the other week we were wearing warm jackets, but now it feels like summer is already here. The forecast for this summer, like every year in the Bahamas, is sunny and hot.Normally, this means just one thing: Ya’ll ga sweat. Today, however, we will see how you can use the sizzling summer sun to remain cool.
Union slams wait on Morton Salt decision
The union representing more than 100 Morton Salt line-staff yesterday blasted the year-long wait for a legal decision in the two sides’ dispute over overtime and a proposed base salary increase for workerst.
Financial union urges lower business costs
The Bahamas Financial Services Union (BFSU) yesterday urged the Government to reduce the cost of doing business in this nation, in a bid to halt the industry’s contraction and outsourcing of jobs to lower-cost Caribbean rivals.
Unions meet with new NHI adviser
A trade union leader said yesterday that ensuring there was no “drop-off’ in health insurance benefits currently enjoyed by his membership was among the major concerns with the proposed National Health Insurance (NHI) scheme.
Fiscal numbers alone won’t halt downgrade
The Government must “sell our story” correctly to avoid the Bahamas being downgraded to ‘junk’ status, the Chamber’s chairman warning yesterday that the fiscal numbers were not enough to prevent this by themselves.
Bank ‘totally discredits’ PM’s Baha Mar optimism
Baha Mar’s financier has “totally discredited” the Prime Minster’s statements insisting that a resolution for the $3.5 billion project is imminent, the Opposition’s deputy leader is arguing.
Financial regulatory regime gains pre-inspection boost
The Bahamas’ financial services regulatory regime had largely addressed all previously-identified deficiencies just before international watchdogs subjected it to its latest anti-money laundering assessment in late 2015.
Chamber chief’s two-year target for energy ‘norm’
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday gave the ‘new BEC’s’ manager two years to lower energy costs to “a consistent norm”.
Minister calls for ‘all hands on deck’ over job outsource
A Cabinet minister yesterday warned that “all hands on deck” were required to prevent the further outsourcing of financial services jobs, with this nation needing to improve operating efficiencies and how business is conducted.
‘New BEC’s’ solar Out Island focus
The Bahamas Electricity Corporation’s (BEC) new manager yesterday promised that solar energy would be integrated into its generation solutions, with the Family Islands likely to prove especially fertile ground.
New BEC manager eyes cleaner fuel
The ‘new BEC’s’ manager yesterday reassured that its business plan has an environmental focus, with plans to use cleaner fuel sources to generate Bahamian energy.
‘Extraordinary’: Concern over $400k Sir Jack overdraft rise
The Grand Bahama Port Authority’s (GBPA) audit chief has demanded an explanation for how the overdrawn balance on the late Sir Jack Hayward’s shareholder loan account ballooned by an “extraordinary” $400,000.
‘Privacy invasion’ fear on NHI Bill
The draft National Health Insurance (NHI) Bill has been slammed for providing the Government with “sweeping invasion of privacy powers” that threaten the confidentiality of doctors’ patient records.
‘Pie in the sky’: Gov’t slammed on Freeport regulation claw back
Calls for the Government to reclaim regulatory authority over Freeport have been branded “a pie in the sky idea”, given the existing legal barriers to such a move.
