Abaco fears ‘boat theft capital’ rap
Abaco’s tourism industry is being undermined by the island’s growing reputation as “the boat theft capital of the Bahamas”, top private sector executives warned yesterday.
Fidelity beats capital raising target by $5m
Fidelity Bank (Bahamas) has beaten its capital-raising target by $5 million, generating $23.5 million from a combination of preference shares and its debt paper programme.
Credit unions enjoy ‘enviable’ 7% growth
Bahamian credit unions in have experienced an “enviable” 7 per cent growth rate over the past five years, the Central Bank’s governor said yesterday, an expansion rate that has likely outstripped their banking counterparts.
Credit Bureau bids in review
The Central Bank’s Governor yesterday said legislation to establish a Bahamian Credit Bureau was being finalised, with bids from potential operators now in and under assessment.
Bacon offered $15m for Clifton ‘solution’
Hedge fund billionaire, Louis Bacon, offered the then-Ingraham administration $15 million for a property deal that he billed as a solution to the “controversial” Clifton Cay development.
Oil price crash makes BPC ‘even more attractive’
The Bahamas Petroleum Company (BPC) yesterday said its exploration activities have been made “more attractive than ever” by the recent oil price crash, and it will “break even” with a much smaller oil field than previously thought.
FNM deputy urges Cabinet to devolve investment powers
The Bahamas Investment Authority (BIA) must be empowered to issue approvals “independent of Cabinet”, the FNM’s deputy leader said yesterday, arguing that this nation was “far away” from providing the necessary investor-friendly environment.
Council: Review minimum wage every two years
The National Tripartite Council will in future review the minimum wage every one to two years to determine if increases are warranted, as one member yesterday denied that an impending rise would harm the economy or employment levels.
Used auto dealers ‘100% behind’ 10 year age barrier
Several used car dealers yesterday said they were “100 per cent” behind the Government’s decision to ban the importation of wrecked vehicles more than 10 years old, one telling Tribune Business the policy should have been implemented “a long time ago”.
Staff 'anxious on BEC game plan'
Staff are “anxious to learn PowerSecure’s “game plan” for the Bahamas Electriccity Corporation (BEC), a trade union leader said yesterday, with the Government said to be nearing completion of the new manager’s transition arrangements.
US: Bahamas faces WTO 'challenges'
The Obama administration believes the Bahamas will face “external and internal challenges” to becoming a full World Trade Organisation (WTO) member, with this nation’s preferential trade regime with the US set to expire at year’s end.
US slams Bahamas’ over ‘investment transparency’
The US has again slammed the Bahamas for “lack of transparency” in government contract bidding processes, with American companies complaining about “undue political interference”.
Law firm strikes back at developer over title defects
A Bahamian law firm has accused a resort developer of “exaggerating” claims it was slow to resolve its title defect crisis, arguing that its approach to handling the Government was the best available option.
CIBC probes $250k FIFA bribe cheque
CIBC FirstCaribbean International Bank (Bahamas) is conducting an investigation into revelations that one of its executives deposited part of a $10 million FIFA bribe into a Nassau-based account.
Auditor-General ‘impeded’ in scrutinising government
The Auditor-General has been “impeded” in his efforts to scrutinise the Government’s spending, resulting in civil servants escaping accountability for “loss or wastage” of taxpayer monies.
