BOB exposes ‘long overdue’ need for minority protection
Bank of the Bahamas’ predicament has again exposed the “long overdue” need for stronger legal safeguards to protect minority shareholders, the Chamber’s chairman is arguing.
Shake off global ‘wariness’, local investors urged
Bahamian investors were yesterday urged by a leading investment banker to better exploit the increased international investment opportunities opened up by the Central Bank’s exchange control liberalisation moves.
‘Protect BOB at all costs’
A Bank of the Bahamas shareholder yesterday backed the Government’s plan to force all new public service hires to open accounts with the bank, adding that it “must be protected at all costs”.
Business Licence fee ‘taxing firms into loss’
The private sector has hailed the International Monetary Fund’s (IMF) call to simplify a “non-progressive” Business Licence fee system that taxes companies into losses.
BOB told: Strengthen ties with private sector
Bank of the Bahamas (BOB) needs to become a reliable and supportive partner to Bahamians and international businesses as part of its recovery strategy, the Opposition’s finance spokesman believes.
Opposition backs IMF suggestions
The Opposition’s finance spokesman has backed calls by the International Monetary Fund (IMF) to both simplify the Bahamas’ tax structure and rein in government spending.
Financial services ‘burial’ fears over e-mail leaking
A financial services practitioner has warned that the industry suffered an “Easter burial” due to the disclosure of private e-mails in Parliament, branding the move “a Category 5 hurricane”.
Baha Mar bidders barred from talking to Sarkis and CCA
Bidders seeking to acquire the $3.5 billion Baha Mar project have been banned from speaking to Sarkis Izmirlian, his former executives and the project’s main contractor.
IMF: Bahamas must fill ‘half full’ economy
The Bahamas urgently needs “to identify where more fluid” is coming from following the ‘glass half full’ verdict on its economy delivered by the International Monetary Fund (IMF).
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.
