Business continuity tied to corporate governance
The COVID-19 pandemic continues to stretch institutions’ thoughts and outlook on what business as usual means. There are two components that will be under even more scrutiny – Business Continuity Plans (BCPs) and corporate governance structures. Whil
Businesses: PM's attack 'unfortunate'
Business executives yesterday described the Prime Minister’s weekend “heart and soul” attack over temporary COVID-19 lay-offs as unfortunate as the controversy continued to simmer.Brent Burrows, general manager of CBS Bahamas (Commonwealth Building S
Regulator extends its filing deadlines
The Securities Commission has granted a 45-day extension for the filing of annual reports and audited financial statements to its various licensees and registrants due to the COVID-19 pandemic. The regulator said filing deadlines under the Securitie
Currency swap key to unleash recovery
Dr Johnathan Rodgers, the well-known eye doctor, details a multi-tier COVID-19 revival strategy to give The Bahamas the foreign currency financing it needs without taking on too much debt.
Govt in 'conundrum' on rental assistance
The government is facing “a real conundrum” in devising an effective rental assistance initiative because it would require the banks to “freeze” landlord loans, the deputy prime minister has admitted. K Peter Turnquest, responding to questions after
Contractors: We have to live with COVID-19
Bahamian contractors yesterday conceded that re-opening the construction sector involves “a big risk” and “cannot be business as usual”, but argued: “Living with COVID-19 is the new reality.”Leonard Sands, the Bahamian Contractors Association’s (BCA)
NIB 'pumps $67m' into local economy
The National Insurance Board (NIB) “pumped $67m” into the economy during March, its director said yesterday, adding that it is having “good success” in progressing 2,000 stalled benefit claims. Dr Nicola Virgil-Rolle, speaking during a Zoom conferen
'Desperation' sparks $20m loan rethink
Growing “desperation” among his small business clients has prompted many of them into a rethink when it comes to applying for government assistance, a consultant has revealed. Mark A Turnquest, of Mark A Turnquest Consulting, told Tribune Business t
Union's $150m alternative to civil service wages cut
The Government will be “shooting themselves in the foot” if they slash civil service salaries, a union chief has warned, arguing that three alternative measures can realise some $150m in savings.Kimsley Ferguson, the Bahamas Public Services Union’s (
BTC develops digital ID card
The Bahamas Telecommunications Company (BTC) has created a mobile digital identification card to make it easier for authorities to identify its essential workers during the COVID-19 pandemic.Andre Foster, its senior director of technology operations,
Top official: Govt has 'sufficient headroom'
The Ministry of Finance’s top finance official yesterday said the government has “sufficient headroom” to meet its obligations despite the nationwide lockdown due to COVID-19. Marlon Johnson, acting financial secretary, told reporters via a Zoom con
Colina 'well placed' against COVID-19
A BISX-listed insurer believes it is well-positioned “to withstand the uncertainties” associated with the COVID-19 pandemic after profits earned by equity shareholders rose 43 percent last year. Colina Holdings Bahamas, the life and health insurance
Small business gets $11.2m COVID help
The Small Business Development Centre (SBDC) has either approved or disbursed some $11.2m in financing to help micro, small and medium sized (MSMEs) businesses survive the pandemic.Davinia Grant, the SBDC’s director, told reporters that the $20m Busi
DPM tells entrepreneurs: 'Don't let this crisis pass'
The deputy prime minister yesterday said there were “no plans” for new or increased taxes to plug the government’s COVID-19 fiscal holes, as he urged entrepreneurs: “Don’t let this crisis pass.” K Peter Turnquest, speaking to reporters outside the C
Tax credit initiative gains 45 applicants
The Department of Inland Revenue yesterday said it has received 45 applications to-date for the government’s $60m tax credit and deferral initiative designed to provide payroll support. Gaynell Rolle, the department’s acting controller, said: “We ar
