‘Confident’ of $675m bad mortgage solution
Scotiabank’s Caribbean chief yesterday said he was “confident” that the Bahamas would be able to solve its $675 million ‘bad mortgage’, crisis, suggesting that “execution” of a solution acceptable to all sides was the key.
Bahamian banks in correspondent hit
Bahamian financial institutions are facing “heightened due diligence” from their correspondent banks, with some revealing this has negatively impacted their operations in areas such as remittance services.
VAT refund woe hits Xmas retail inventory
Bahamian retailers were unable to buy their preferred Christmas inventory due to Value-Added Tax (VAT) refund delays, with the issue threatening to undermine private sector “trust in the integrity” of the new regime.
RoyalFidelity equity fund investors see near-20% returns
RoyalFidelity Merchant Bank & Trust’s mutual fund family has enjoyed its “third straight year of positive returns” following their 2012 restructuring, with its equities fund generating near-20 per cent for investors.
AML chief fears Bahamas talking itself into decline
AML Foods chief executive fears the Bahamas could talk itself into a self-fulfilling economic downturn, warning: “If we keep talking negativity, negativity is what we will get.”
McKinsey wrong on Freeport tax monies, Business Licence fee
The McKinsey report on Freeport’s economic future is flawed in its assessment of the city’s tax contribution and potential Business Licence fee earnings, an outspoken QC believes.
Bahamas told: ‘Dig a well before you become thirsty’
A world-renowned equity investor has urged the Bahamas to “think differently” and position itself now for future growth opportunities, rather than become mired in “survival” mode.
Judicial ‘buy in’ key to Bahamas arbitration hope
‘Buy-in’ by the Bahamian judiciary will be critical to the Bahamas successfully establishing itself as an international arbitration and dispute resolution centre, the Minister of Financial Services believes.
Veteran diplomat: Bahamas must get arbitration promotion correct
A veteran diplomat believes there are no obstacles to the Bahamas establishing itself as an international arbitration hub provided it properly promotes itself to the global alternative dispute resolution (ADR) community.
Expedia: Bahamas searches rise 70%
The Bahamas will enjoy strong tourism growth “on par” with the rest of the Caribbean, an online travel services company is predicting, with searches for this nation up 70 per cent in 2016.
Cable loses $13m bid over gas leak
The Supreme Court yesterday dismissed Cable Bahamas’ bid to obtain a $13 million-plus summary judgment over the Robinson Road gas leak, branding the case as “a complex matter” that needs a full trial.
NHI ‘impossible’ without support from doctors
National Health Insurance (NHI) “is simply impossible” without the Bahamian medical profession’s support, a well-known physician warned yesterday, with the Government facing a growing, profession-wide rebellion against the scheme.
Bahamas on track for WTO accession record
The Bahamas will soon set a record for the longest-running World Trade Organisation (WTO) accession, an ex-Cabinet minister yesterday suggesting that “nationalistic resistance” was thwarting one avenue for addressing this nation’s economic imbalance.
Kerzner back with new Baha Mar bid
PRIME Minister Perry Christie yesterday reiterated his firm belief that a Baha Mar resolution was “very close”, disclosing that Sol Kerzner had returned with a revised bid.
PM ‘not practicing JA speech virtues’
The Opposition’s deputy leader yesterday branded Prime Minister Perry Christie’s address to a Jamaican investment conference as a classic example of failing to “practice what you preach”.
