RBC outsourcing more jobs to Trini
Commercial banking industry consolidation and job losses are set to continue, after Royal Bank of Canada (RBC) yesterday unveiled plans to transfer its credit card unit to Trinidad & Tobago.
Joaquin drives ‘below average’ crawfish yield
The Bahamas Commercial Fishers Alliance’s president (BCFA) said yesterday that the 2015-2016 crawfish season is expected to have a below average yield, due largely to the devastation caused by Hurricane Joaquin to 20 per cent of the fishing fleet.
Exuma Chamber chief wants ‘real FDI partnerships’
Foreign direct investment (FDI) project must go beyond job creation to provide meaningful partnerships with the local community for true economic empowerment, the Exuma Chamber of Commerce president yesterday arguing that this
Hard Rock, Resorts World eye GB casino
The Minister of Tourism yesterday expressed relief that top-tier brands were “finally” eyeing Freeport’s solitary casino, with both Hard Rock and Genting’s Resorts World format looking at taking over the property’s management.
Receivers ‘dual approach’ for Baha Mar resolution
Baha Mar’s Chinese lender and its receivers were yesterday said to be keeping all their options open, amid suggestions they have changed their strategy for resolving the $3.5 billion standstill.
GB airport value up six-fold via tourism rebound
A Grand Bahama “tourism turnaround” could produce a six-fold increase in the value of its international airport, which the Government’s consultants currently estimate is as low as $3 million.
‘More power’ to China if it finishes Baha Mar
A former Baha Mar director yesterday said financing the project’s full $600 million construction completion represents “an extremely risky strategy” for the China Export-Import Bank, but conceded: “More power to them if they do.”
Gov’t: Remobilisation ‘imminent’ at Baha Mar
The Government believes talks between Baha Mar’s Chinese stakeholders will lead to an “imminent remobilisation plan” and the project’s re-opening “in the shortest possible timeframe”.
BDB’s ‘bad borrower’ litigation rises 115%
The BAHAMAS Development Bank (BDB) has over the past three years more than doubled the volume of litigation launched against delinquent borrowers, its managing director yesterday emphasising there are “no sacred cows” among defaulters.
Exuma becoming high-end location
EXUMA is positioning itself as a “high net worth destination”, the Prime Minister said yesterday, as the Government signed a Heads of Agreement for a $200 million boutique resort on Children’s Bay Cay and Williams Cay.
Water Corp violated industrial agreement
The Water & Sewerage Corporation breached the industrial agreement with its management union by failing to give members ‘first shot’ at the contracts for three Family Island reverse osmosis plants.
Gov’t plans S&P meeting to ward off downgrade
The Government will meet with Standard & Poor’s (S&P) immediately after next month’s mid-year Budget in a bid to stave off a further credit downgrade to ‘junk’ status.
‘It’s not about money; it’s about quality care’
Doctors have warned that the Government’s National Health Insurance (NHI) scheme will remove all incentive for them to invest in new equipment and expanded practices, turning them into cost-cutting machines and undermining healthcare quality.
Hayward trustee says his removal ‘complete surprise’
A former trustee for the late Sir Jack Hayward’s family trust says his removal “came as a complete surprise”, since there had been no complaints about the conduct of negotiations to sell the Grand Bahama Port Authority (GBPA).
Mobile liberalisation like ‘duck in the pond’
Mobile liberalisation’s final stages have been compared to “the life of a duck in the pond’, a key adviser explaining that much progress made to-date is not visible to the Bahamian public.
