Merge compliance and risk to avoid surprises
The financial services industry had been implementing governance models designed to make its institutions more effective well before the COVID-19 pandemic began to wreak havoc on the world. Providers and supervised financial institutions have experienced severe changes in their regulatory compliance requirements since then, due to changing risks and increasing costs as a result of health and safety concerns, plus operational difficulties associated with remote work. And supply chain problems are seemingly relentless.
Local broker’s Grand Lucayan role is ‘exactly what we want’
A Bahamian realtor yesterday hailed the involvement of a local broker in facilitating the Grand Lucayan’s sale as “exactly what we want”.
Event planners enjoying gradual business pick-up
Event planners say tourism-led business will lead the sector’s revival amid expectation that trading conditions will continue to improve since COVID-19 restrictions were lifted.
Non-bank lenders face enhanced regulations
The Securities Commission’s top executive yesterday said the main law governing the Bahamian capital markets will undergo an “overhaul” this year.
Battle of the videostar
ActivTrades
FACEBOOK’S parent company, Meta (FB), has not had a bad year. Not every company can claim to have increased its sales by 37 percent in one year. The social networks, Facebook and Instagram, as well as the messenger, Whatsapp, generated almost $118bn following $86bn in the previous year. A good $29bn of that remains as profit.
Bahamas bank investors see $32m Cayman boost
A Bahamian financial institution’s shareholders have received a $32m boost this week after completing the final step in exiting the Cayman Islands market.
Domestic Gov’t bond just 25% subscribed
Concerns were raised last night over investor appetite for the Government’s debt after just 25 percent of a recent $47.326m bond issue was picked up by the market.
Minister concedes $1.3bn revenue jump ‘optimistic’
A Cabinet minister yesterday conceded that the Government’s target of increasing annual revenues by $1.3bn in four years is “optimistic”, but argued: “We believe we’ll make it.”
Gov’t spends almost $400m on COVID aid
The Government spent nearly $400m supporting Bahamian households and businesses during the first 21 months of the COVID-19 pandemic, it was revealed yesterday.
Deficit fall to smash target
The Government is poised to beat its full-year $858.6m deficit target by a wide margin after incurring just 28 percent of that sum during the 2021-2022 first half, it was revealed yesterday.
Financial services can give itself ‘pat on back’
FINANCIAL institutions should give themselves “a pat on the back” for slashing the time taken to “cure” regulatory deficiencies to just 11 months, the Central Bank’s top inspector said yesterday.
‘Glaring deficiencies’: Top architect loses permit fight
A top architect yesterday pledged to fight on after losing a legal challenge to the Government’s decision to halt a building permit application due to “glaring deficiencies and inconsistencies”.
Don’t get ‘shortchanged’ over carbon credits plan
Environmental activists yesterday warned The Bahamas must guard against the prospect of being “short changed” over the sums it could potentially earn from trading carbon credits.
Chamber chief: ‘Don’t get sidetracked’ over investor confidence
The Grand Bahama Chamber of Commerce’s president yesterday urged the Government “not to get sidetracked” by the furore over the Prime Minister suggesting investor confidence is “waning”.
Bahamas close to 1m stopover visitor target
The Bahamas was close to hitting the one million stopover target for 2021 set by his ministerial predecessor, the deputy prime minister told the House of Assembly yesterday.
