Cruise ship’s ‘arrest’ sparks $25m battle
A Bahamian shipping agent is fighting to overturn a $25m “default judgment” stemming from the earlier “arrest” of a major cruise ship that brings thousands of visitors to this nation annually.
Credit unions brace for ‘heightened oversight’
The Central Bank has pledged that credit unions will be subjected to “heightened oversight” because they have “very minimal excess capital” with which to withstand a surge in COVID-related loan delinquencies.
Sunryse founder leaves following company’s sale
Sunryse Information Management’s founder was yesterday said to no longer be with the company he founded over two decades ago following its sale to a US-based provider.
Ex-Luciano’s managers get $74k compensation
Two former restaurant managers at the now-closed Luciano’s have been awarded a combined $74,000 after the Industrial Tribunal found their ex-employer in breach of the Employment Act’s redundancy provisions.
More Caribbean growth now on insurer’s ‘radar’
A Bahamian insurer says “there is something on our radar” for further Caribbean expansion as it bids to cut its reliance on this nation to just 55-60 percent of its annual business activity.
Carnival hopes 20-year port wait nearing end
Senior Carnival Cruise Lines executives have voiced optimism that their 20-year search for a private port location in Grand Bahama is nearing an end with their latest $100m project.
Carnival’s GB port eyeing 2025 finish
Carnival Cruise Line executives have pledged to transplant any coral that may be threatened by its multi-million Grand Bahama cruise port which will incorporate a significant amount of precast materials into its construction.
Don’t reinvent wheel on investment agency
The Bahamas must not reinvent the wheel in creating a new investment promotion and approvals agency as envisioned by the government’s Economic Recovery Committee (ERC), a prominent banker warned yesterday.
Voters urged: Challenge parties on business ease
A prominent realtor yesterday urged Bahamian voters to challenge general election candidates on how they plan to drag The Bahamas’ ease of doing business “from a third world mentality to a first world mentality”.
Doctors in COVID testing expansion
Doctors Hospital is aiming to expand its COVID-19 testing sites to southern New Providence after its newly-opened British Colonial Hilton location hit a “3,000 run rate within the first week”.
BTC’s half-year better via 16% revenue rise
The Bahamas Telecommunications Company (BTC) enjoyed a 16.3 percent year-over-year increase in 2021 second quarter revenues, it was revealed yesterday, despite losing close to 3,000 prepaid mobile subscribers.
Hospital ‘must beat misperception’ that it’s not affordable
Doctors Hospital “must beat misperceptions” that its healthcare services are too expensive to be accessed by middle and lower income Bahamians, its chief financial officer says.
Bank ‘hopelessly deficient’ on $600k loan guarantee
Bank of The Bahamas’ “hopelessly deficient case” has left it unable to enforce a guarantee for a near-$600,000 delinquent mortgage owed on a property in south-west New Providence’s Coral Vista subdivision.
Treat internal audit as trusted advisors
Internal auditors should be considered trusted advisors who work along with the board and management to help your company achieve its goals and business objectives.
Ex-DPM backing 2023 for full COVID rebound
The former deputy prime minister yesterday backed the Central Bank’s assessment that the Bahamian economy will not fully recover from COVID-19 until 2023, with much depending on how the latest case surge is handled.
