Correspondent bank de-risk ‘major threat’
A Cabinet minister yesterday described the correspondent banking ‘de-risking’ trend as a “major threat” to the Bahamas and wider Caribbean, calling on regulators to do their part in protecting the region.
Chamber chief blasts VAT refund ‘disgrace’
Grand Bahama’s Chamber of Commerce president yesterday said it was “shameful and disgraceful” that companies have not been receiving timely Value-Added Tax (VAT) refunds.
Abaco developer downsizing due to crime spike
Abaco’s Chamber of Commerce chief yesterday slammed the lack of effective police and local government response to boat thefts and home break-ins as a “grave concern”.
Equity risk aversion undermining growth
A well-known businessman yesterday urged the National Development Plan’s (NDP) architects to “dig a little deeper” into investors’ aversion to equity investments, arguing that this was undermining the Bahamas’ sustainable development.
Freeport seeks GBPA meeting over the FLIP
Freeport’s private sector is seeking an urgent meeting with the Grand Bahama Port Authority (GBPA) over its Freeport Light Industrial Park (FLIP) venture, amid fears it will create “an uneven playing field” for Bahamian-owned businesses.
BOB chair’s reversal on ‘political lending’
Bank of the Bahamas’ chairman yesterday backtracked from his admission that politics had influenced past lending decisions, saying he was referring to “perception” rather than reality.
Corruption ‘almost a culture’ in Bahamas
The Democratic National Alliance’s (DNA) leader yesterday said he was “amazed” that government MPs and their leadings supporters appeared to be justifying corruption, which has “almost become a culture” in the Bahamas.
‘Nothing left’ for Long Island’s departed 10 per cent
A Long Island businessman yesterday estimated that 10 per cent of the island’s population had migrated to either New Providence or Freeport in the aftermath of Hurricane Joaquin, and while some wanted to return “there is nothing to come back to”.
SuperGreen Solutions: Solar investment buys lower electricity bills
In my experience, Bahamians are becoming increasingly interested in solar power. However, many are unsure whether they can afford it.
‘Tax free zone’ urged for Joaquin-hit islands
The Government was yesterday urged to designate the storm-ravaged southeastern Bahamas as a ‘tax-free zone’ to give the area’s island economies a “shot in the arm”.
Joaquin highlighted communications woe
The absence of reliable communications was one of the major challenges exposed by Hurricane Joaquin, Rotary’s distrct governor said yesterday, stressing the need for a co-ordinated, reliable connnection.
Chamber works on extra $500,000 for hurricane relief
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive yesterday said it was working with the Government to generate an extra $500,000 to assist Hurricane Joaquin-ravaged businesses.
‘No complacency’ over S&P break
The Central Bank’s governor yesterday warned there was “no room for complacency”, even though Standard & Poor’s (S&P) gave the Bahamas a much-needed break by maintaining its ‘investment grade’ credit rating.
S&P: Primary surplus key to stable rating
The Government will take a major step towards convincing Standard & Poor’s (S&P) to maintain the Bahamas’ ‘investment grade’ rating if it can hit primary Budget surplus targets from the 2015-2016 fiscal year onwards.
Sir Franklyn to the US: ‘Cure yourself’
A well-known businessman yesterday said there was less corruption per capita in the Bahamas and English-speaking Caribbean than the US, and told the Obama administration: “Cure yourself.”
