‘ALL HOMES MUST HAVE INSURANCE’: Leading insurer warns mandatory cover has to be on agenda after Dorian
Bahamas First's chief executive yesterday said laws making it mandatory for all business and residential property owners to have full catastrophic insurance cover "must be on the table for discussion".
Bahamas rejects IMF's $200m Dorian offering
The Bahamas will not be taking up the International Monetary Fund’s (IMF) offer of up to $200m in concessionary funding for Hurricane Dorian recovery, the deputy prime minister confirmed last night.K Peter Turnquest told Tribune Business via a messag
Economy fears: Bahamas ranked world's sixth most expensive state
The Bahamas’ ranking as the world’s sixth most expensive nation to live in highlights “a fundamental challenge related to the country’s economic viability”, it was argued last night. Matt Aubry, the Organisation for Responsible Governance’s (ORG) ex
'Don't cry over spilt milk': Exit of Julius Baer
The Bahamas must “not cry over spilt milk” due to Julius Baer’s imminent exit, a former attorney general warned yesterday, and should instead focus on remaining “relevant” as a financial centre. John Delaney, principal of the Delaney Partners law fi
Loan arrears fall $125m in 2019 to decade-low
Total loan arrears fell by $123.5m or 15 percent during 2019 to hit their lowest level for a decade at year-end, a Central Bank of The Bahamas presentation has revealed.The monetary policy regulator, unveiling the status of credit quality within the
Disney targets Lighthouse Point work start for 2020
Disney Cruise Line yesterday said it is hoping to begin construction work on its Lighthouse Point destination this year, and is targeting late 2022-early 2023 for the project to become operational. Kim Prunty, vice-president of Disney Cruise Line, t
Bank: 'No truth' to lay-off, closure talk
A Bahamas-based financial services provider yesterday said it plans to hire extra staff within the next few months as its restructuring nears an end. Marco Netzer, Private Investment Bank’s vice chairman, dismissed financial services industry talk t
Minister hails Atlantis owner's reinvest plan
A Cabinet minister yesterday hailed planned reinvestment in Atlantis by its owner as “welcome news” after it abandoned efforts to sell the Paradise Island-based destination resort. Dionisio D’Aguilar, minister for tourism and aviation, said there was
Minister: Hutchison 'will not rebuild' GB airport
A Cabinet minister yesterday confirmed that Hutchison Ports Holdings had indicated it will “not rebuild” the parts of Grand Bahama International Airport that were devastated by Hurricane Dorian. Senator Kwasi Thompson, minister of state for Grand Ba
Bahamas gains 'massive visibility' from mall show
The Bahamas has gained “massive visibility and exposure” through being promoted to thousands of shoppers at one of south Florida’s largest malls. This nation has “dominated” the Sawgrass Mills complex since January 16, and shoppers have one final we
ATLANTIS SALE IS ABANDONED: Owners take resort off the market and now plan to reinvest
Atlantis will not be sold "at this time", it was revealed last night, with its owner instead deciding to unleash a "significant" three-year investment strategy despite receiving multiple offers.
Central Bank raises growth forecast to 'flat'
The Bahamas’ 2020 economic growth prospects have improved to “flat”, it was revealed yesterday, with the Central Bank less certain that this nation will suffer a minor contraction. John Rolle, its governor, said it “doesn’t want to be wedded to a nu
$2m lighthouse project aiming to 'energise' PI
A Bahamian entrepreneur yesterday voiced optimism that his planned $2m transformation of Paradise Island’s western tip will “energise the restoration of other historical sites” throughout this nation.Toby Smith, principal of Paradise Island Lighthous
'Be sceptical' of all sides on free trade
An international trade attorney says that The Bahamas will “definitely” have to slash its average Customs duty rate in half if it continues to pursue full World Trade Organisation’s (WTO) membership. Paul Lalonde, partner and head of international t
30 jobs lost as Julius Baer closes
A major Swiss-owned financial institution yesterday revealed the closure of its Bahamas business with the loss of 30 jobs in the latest blow for the financial services industry.
