'Don't throw baby out with bath water' in trade negotiations
The Bahamas has been urged “not to throw the baby out with the bath water” on protecting domestic producers in a liberalised trade environment, a well-known economist calling on it to use current “breathing space” to boost local firms’ competitiveness.
Insurer eyeing claims '50% less than Irene'
A Bahamian insurer currently believes its Hurricane Sandy-related claims will be 50 per cent of what it incurred from Irene in 2011, telling Tribune Business it was eyeing $3 million as its “ultimate estimate”.
Broker fined 'under 20% of $1.6m penalty sought
A Bahamian broker/dealer yesterday said the fact it had been fined less than 20 per cent of the $1.6 million penalty sought by Canadian regulators “spoke volumes” to the strength of its case, as took another shot at the Securities Commission’s “highly questionable” decision to hand over information on its clients.
Succession planning remains 'critical' for 70% of economy
Succession planning is critical for the sustainability of family-owned businesses and the overall economy, a senior Bahamas-based KPMG executive noting that these companies accounted for about 70 per cent of the private sector.
Third-party facilitator 'vital' for family firms
FAMILY-owned businesses should look to employ an outside practitioner to help manage their complex internal relationships, the head of a prominent Bahamian company telling Tribune Business: “The family dynamic is very different from a regular business.”
Butterfield holds group trust summit in Nassau
The Bank of Butterfield selected Nassau as the location for a key meeting between its trust business leaders. The Bermuda-headquarterd bank’s trust business development forum was held at its offices in the Montague Sterling Centre.
Fishermen unlikely to object to DR exports
The BAHAMAS Commercial Fishers Alliance (BCFA) president said yesterday that he did not envision fishermen objecting to exports to the Dominican Republic, telling Tribune Business that any new market was good for the industry.
Gov't gives up $200m in tax concessions
The Government needs a central point for revenue collection to rationalise 30 existing intakes, a key Ministry of Finance official adding that some $200 million worth of tax concessions were granted annually.
CHAMBER VOICE: Bahamas must push on exports
By Ian Ferguson
UBS staffer wins award as Smart Funds double
Brian Jones has been chosen for the Bahamas Financial Services Board’s (BFSB) Financial Services Development and Promotion Award 2012 for developing the Qualified Investor Fund - the Smart Fund Model 007 (SFM007).
Sands' distribution centre makes progress
Bahamian Brewery and Beverage Company’s new distribution and administrative centre will boost the company’s developing retail operations when it opens on Nassau Street North, adjacent to the Nassau Palm Resort, before Christmas. The centre, which will also feature a retail outlet, will enhance a network that already includes five Jimmy’s Wines and Spirits stores in New Providence, one in Grand Bahama and another in Eleuthera.
Buena Vista distillery targets December start
A micro rum distillery is aiming to start production from the former Buena Vista property by the first week in December, its principals yesterday saying they were confident of attracting more than their base 150,000 visitor estimate during the first year.
Bank's equity investors see 60.7% income drop
Bank of the Bahamas International’s shareholders have seen a 60.7 per cent decline in net income available to them from the 2012 financial year, largely due to increases in preference share dividends and loan loss provisions.
Ex-City Markets workers 'losing faith' in courts
Former employees of the now-defunct City Market supermarket chain have “lost faith” in the legal system, a spokesman for the group said yesterday, telling Tribune Business that 80 per cent had still “not received a dime”.
Governor: Economy must 'grow faster' than 2.5%
Although Hurricane Sandy’s impact will not harm the Bahamas’ chances of achieving 2.5 per cent GDP growth for 2012, the Central Bank’s governor yesterday warned that the economy needed to grow at a faster rate to reduce the 14.7 per cent unemployment rate.
