Retail savings bond in ‘final approval stages’
The Central Bank is “committed” to launching a product designed to foster a greater “savings culture” among Bahamians before year-end 2023, its governor affirmed yesterday, with approvals “in the final stages”.
Payroll errors costing taxpayers near $120m
Salary and payroll errors are costing Bahamian taxpayers around $120m per year, the Government’s top finance official disclosed yesterday, as he blamed the wastage on too many systems that are not linked to each other.
‘Quality new credit’ hard to find with $127m drop
Fidelity Bank (Bahamas) says the more than $127m collective decline in outstanding mortgage and consumer loans during 2022 shows “quality new credit” and borrowers will be tough to find despite the economy’s rebound.
Albany developer charged on ‘brazen insider trading’
The Bahamas-based billionaire who spearheaded Albany’s development was yesterday charged with orchestrating a “brazen insider trading scheme” that allegedly netted millions of dollars in illicit profits for his closest associates.
Super Value in halt over ‘reached the limit’ orders
Super Value will stop buying products whose prices have “reached the limits” of Bahamian affordability, its owner disclosed yesterday, while revealing that soaring energy bills have “siphoned off 5 percent of our sales”.
Cruise port ‘not unreasonable’ over tenant expansion plans
Nassau Cruise Port will “not unreasonably withhold” permission for any of its Marketplace tenants to expand their business by opening another outlet in a New Providence resort, its top executive has pledged.
Insurance cuts ‘false economy’ despite 26-year high premiums
Bahamian homeowners and businesses have been warned that cutting, or dropping, property catastrophe coverage will be “a false economy” in the face of 26-year record-high insurance costs.
Fidelity chief’s ten-point plan to $50m profitability
Fidelity Bank (Bahamas) president has set out what he describes as a ten-point plan to seizing market share and more than doubling annual profits to $50m by its 50th anniversary.
Contractors chief: No to permit double standards
The Bahamian Contractors Association’s (BCA) president yesterday called for “greater transparency and management” in the work permit process amid the ongoing controversy over “irregularities” involving Chinese construction workers.
Artificial intelligence is 'great benefit' despite risk of abuse
Bahamian technology executives yesterday hailed the evolution of Artificial Intelligence (AI) as "a great benefit for society" even though there is a risk of abuse by bad actors.
Retailer doubles summer internship to 20 students
A Bahamian retailer yesterday disclosed it is doubling its summer intern programme to 20 persons amid the economy's strong post-COVID rebound.
Pintard: BPL 'weighs down' businesses
The Opposition's leader yesterday charged that Bahamas Power and Light (BPL) is in "crisis" and "weighing down" businesses.
Air traffic optimistic on industrial deal signing
Bahamian air traffic controllers say they will be signing an industrial agreement shortly after major issues in the contract negotiations were resolved.
Nassau flagship drives 1/3 of parent’s income
Nassau Cruise Port is being hailed as a flagship investment by its controlling shareholder with The Bahamas now accounting for almost one-third of its total group adjusted revenues and operating income.
Ex-minister: ‘Bahamians must invest in our nation’
A former Cabinet minister says he was “moved” by multiple factors to partner with Sir Franklyn Wilson in developing the Jack’s Bay project, and urged Bahamians: “We’ve got to invest in or country.”
