Pointe consultation slammed as ‘farce’
An outspoken QC yesterday slammed as “a farce” the planning consultation over The Pointe, arguing that the $250 million project epitomised the Government’s failure to learn from repeated “teachable moments”.
Insurers: NHI figures may be 20% ‘under estimate’
The Bahamas Insurance Association’s (BIA) $895-$965 million National Health Insurance (NHI) cost estimates may be a “conservative” 20 per cent under-estimate, its chairman has revealed to Tribune Business.
ART OF GRAPHIX: Design qualities for a successful career
Many have wondered how graphic artists are able to transform a sentence into an art form that communicates the intended message. Others have questioned how they can function with so little sleep. Are all designers coffee drinkers? Do they even have social lives? Are they born talented? Where does their creativity come from? Who are these analytical people?
Port buyer offered to sell Gov’t 51%
A Grand Bahama Port Authority (GBPA) purchaser offered to sell a majority 51 per cent stake in Freeport’s quasi-governmental authority to the Government once their acquisition closed, Tribune Business can reveal.
‘Untenable’: Bahamas 106th on business ease
The Bahamas’ latest slump in the World Bank’s Ease of Doing Business rankings was yesterday branded “untenable”, as the country slipped out of the world’s top 100 nations.
Joaquin set to cost insurers $25-$30m
Total insured losses from Hurricane Joaquin will likely total between $25-$30 million, Tribune Business was told yesterday, with the sector set to reassess its underwriting approach following the storm.
FINCO consolidation raises job loss concern
Concerns were raised yesterday about the prospect of further banking sector jobs losses, as Royal Bank of Canada (RBC) unveiled more consolidation plans for its mortgage-lending arm that are set to be implemented on Monday.
‘Lax port security’ fuels rising crime
Nassau Container Port executives have warned that it is “increasingly indisputable” that lax security at Potter’s Cay and Family Island ports is fuelling tax evasion, smuggling and crime.
City Markets pension resolution ‘seems a go’
Parties to the long-running City Markets pension fund controversy yesterday expressed optimism that resolution and payouts could be forthcoming before Christmas, telling Tribune Business: “Everything seems to be a go.”
Wind-up delay gives Baha Mar resolution time
The Attorney General yesterday suggested the three-week delay to Baha Mar’s winding-up hearing was intended to give all parties more time to reach a “hoped for” commercial resolution to the $3.5 billion dispute.
Port slammed for VAT ‘chip away’ at Hawksbill deal
An outspoken QC yesterday threatened legal action against the Grand Bahama Port Authority (GBPA) for levying Value-Added Tax (VAT) on his firm’s licence fee, accusing it of complicity in the Government’s efforts “to chip away” at Freeport’s founding agreement.
ObamaCare model urged for Bahamas healthcare reform
Private sector stakeholders believe an accounting firm has advised the Government to take a completely different approach to healthcare reform and adopt an ObamaCare-style plan for the Bahamas, rather than the proposed National Health Insurance (NHI) model.
Banks restructure $758m in bad loans
Bahamian commercial banks have restructured $758 million worth of loans over the past six-and-a-half years, a figure that represents more than $1 out of every $10 lent to private individuals and businesses.
‘Silly deals’: Port sale sparks Hayward rift
Hannes Babak allegedly engineered the removal of two trustees safeguarding the Hayward family assets because they were negotiating “silly deals” to sell the Grand Bahama Port Authority (GBPA).
Sarkis’s letter shows breakthrough on Baha Mar ‘not imminent’
Sarkis Izmirlian’s letter to his former 2,026 Baha Mar staff shows there is no “imminent” breakthrough likely in the impasse over the $3.5 billion project, a senior private sector executive believes.
