Bank stability at 7-year high on $400m profits
The Bahamian commercial banking sector’s stability hit a seven-year high in 2022, the industry’s regulator has revealed, as combined profits soared nearly 59 percent to just shy of $400m.
Bran plans $250k lawsuit over ‘crippling roadworks’
A former Democratic National Alliance (DNA) leader will this week initiate legal action against the Government over $250,000 in loss and damages his law firm suffered when it was “crippled” by the Village Road roadworks.
Bahamas would face ‘disaster’ without major deficit reduction
A governance reformer yesterday hailed the Government’s 2023-2024 Budget as correct for the times since The Bahamas would be facing “disaster” without a major cut to the annual fiscal deficit.
‘Disgruntled’ tourists seeking BPL refunds
Some Family Island resorts are reporting that “disgruntled clients” are demanding refunds due to the frequent Bahamas Power & Light (BPL) outages that are disrupting their experience of The Bahamas.
FOCOL aids BPL probe into contaminated fuel
FOCOL’s top executive has confirmed it is assisting Bahamas Power & Light (BPL) with the latter's probe into how contaminated oil rendered one of the latter's North Andros generation engines inoperable for several days.
Reforms to boost financial services industry flexibility
Reforms to two key corporate products will boost the Bahamian financial services industry’s competitiveness by enabling it to provide more flexible structures to clients, the Attorney General has charged.
New highs for old companies
ActivTrades
ARTIFICIAL intelligence (AI) has been the new hype on Wall Street over the past six months, and investors are looking at start-ups and already-established companies to benefit from it.
‘Historic first’: Dionisio teams with Sir Franklyn
Sir Franklyn Wilson yesterday hailed as an “historic first” the involvement of two former tourism ministers as investors in a project aiming to become “the Bahamian destination of choice for the most discerning” traveller.
BPL: From ‘dramatic savings’ to sky-high bills in three years
Bahamas Power & Light (BPL) has gone from “dramatic savings” on its fuel costs that have been hailed by the Inter-American Development Bank (IDB) to sky-high electricity bills in just three years.
EU backlist threat to storm claims payouts
The Attorney General yesterday warned that European reinsurers could withhold up to 25 percent of claims payouts for hurricane victims unless The Bahamas escapes the continent’s tax blacklist.
FTX chief targets Bahamas property ‘misappropriation’
FTX’s founder and two of his closest associates were last night accused of “misappropriating” some $4.86m of client monies to acquire high-end Bahamian real estate that they subsequently put in their personal names.
Iconic Nassau business at centre of legal battle
A legal battle has erupted among one of Nassau’s most prominent families that centres on a long-standing Bahamian business with a corporate history dating back 60 years to before Majority Rule.
IAN FERGUSON: How to boost productivity without micromanagement
With skilled labour in relatively short supply, thus increasing the need for employers to maximise the productivity of each worker, human development strategies are essential to achieving better results. Micromanaging workers has proven dangerous and counter productive in seeking to increase productivity. People work better in comfortable environments where they are held accountable for the results.
Fund ‘first’ targeting $100m in five years
A Bahamian investment bank yesterday unveiled ambitions to “make a massive difference” for the economy by growing the country’s ‘first-ever’ private equity fund to $100m within five years.
Vendors voice cruise port fears despite rent waiver
Nassau Cruise Port yesterday said it had waived the first year’s rent for its marketplace tenants to help grow their businesses after several complained about the cost and lease terms they must sign up to.
