Laying out the road map for economic resilience
The newspaper headlines reporting on a presentation given by the deputy prime minister (DPM) were very similar. One read: Government wants Economic Recovery Committee to assist in finding solutions to supplement economic growth , while the other simp
'New boater obstacle' in Customs check-out
New Customs “check-out” processes have created “another obstacle to encourage boaters not to visit”, the Association of Bahamas Marinas (ABM) chief blasted yesterday. Peter Maury told Tribune Business he had already received complaints from visiting
Treasurer blasts govt on financial resource failure
The Public Treasury’s top official blasted the government for failing to provide sufficient resources to improve financial management and cash flow. Eugenia Cartwright, the treasurer, in a memorandum that was revealed with yesterday’s publication of
Insurers warned: Do not keep 'eggs in one basket'
A top insurer says Bahamian underwriters will find it increasingly difficult to survive “long-term” unless they diversify into other territories.Patrick Ward, Bahamas First’s president and chief executive, told Tribune Business in a recent interview
Health insurer's Bahamas exit to be 'orderly'
Regulators yesterday said they expect a “very orderly wind-down” of a Bahamas-based health insurer as it readies to exit the market by December 2021. Michele Fields, the Insurance Commission’s superintendent, confirmed to Tribune Business that Gener
Abaco struggles to find new workers
Abaco's labour shortages are causing post-Dorian reconstruction prices to "skyrocket" by at least 25 percent, the island's Chamber of Commerce chief warned yesterday.
AID sales up 20% - but drop off imminent
A major Bahamian retailer says its 20 percent "better than normal" sales performance has given it sufficient optimism to move ahead with an $8.2m investment.
Legal reforms tighten 'failing' bank oversight
The Central Bank is gaining powers to appoint “a statutory administrator” over failing or “unsafe” banks, Parliament was told yesterday.K Peter Turnquest, pictured, deputy prime minister, unveiling a three-strong package of Bills to strengthen the fi
Tour providers fear COVID exposure
Family Island tour providers yesterday said they fear being exposed to COVID-19 as business levels range from non-existent to 50 percent of pre-pandemic levels. Glenrick Rolle, owner/operator of Glenrick’s Water Taxi Services on Bimini, told Tribune
Digital B$ rolled-out nationally by Q3 end
The Central Bank’s digital currency will be made available nationwide by the 2020 third quarter’s close, the deputy prime minister said yesterday. Unveiling reforms to the financial services regulatory regime in the House of Assembly, K Peter Turnqu
Doctors Hospital cuts 43 staff over 'blunt fiscal reality'
Doctors Hospital has revealed the termination of 43 workers after aggressive cost-cutting measures proved insufficient to offset “diminished patient activity”.The BISX-listed healthcare provider, in a statement issued at the weekend, warned that it w
Govt revenues off 50% in last quarter
The government’s revenues for the 2019-2020 fiscal year’s final quarter dropped by “50 percent or so” compared to normal, the deputy prime minister said yesterday.K Peter Turnquest, responding to a series of messaged Tribune Business questions, said
Fidelity’s warning on visits to the U.S.
Bahamian workers were yesterday warned they could find themselves taking unpaid leave if they fail to make "wise" vacation decisions amid the COVID-19 threat.
The importance of preparing for unknown risks
The coronavirus crisis demonstrated that countries with preparations in place to deal with a pandemic, such as South Korea, Singapore and Taiwan - despite having been among the first to suffer the impact of the virus - experienced lower numbers of cases and fatalities than others without any plan for such events. For these, the cost of unreadiness has been staggering, both in human and economic terms.
Fighting financial crime in silos will cause failure
The risk and compliance space has been inundated with changing landscapes during the first six months of this new decade. Here in The Bahamas, many risk and compliance professionals will have thought that the 2018-2019 regulatory overhaul was a daunt
