Central Bank eyes 'movable collateral registry' initiative
The Central Bank is set to study the feasibility of creating “a registry to track movable chattel pledged by borrowers”, such as vehicles, in a bid to improve credit access for deserving borrowers. John Rolle, the Central Bank’s governor, yesterday
‘Totalled’ Abaco resort awaiting summer re-open
An Abaco resort operator yesterday said her property is unlikely to re-open until summer 2020 after it was “totalled” by Hurricane Dorian with “nothing left of the marina”.
6,000 restructure debt during 2019 first half
More than 6,000 Bahamian borrowers applied for debt consolidation loans during the 2019 first half, making it the most sought-after form of consumer credit by some distance. The Central Bank’s latest Lending Conditions Survey, released yesterday, re
CIBC deal positive if 'breaks up the cartel'
An ex-Central Bank governor yesterday said the proposed acquisition of CIBC FirstCaribbean could be positive for the Bahamian economy if it “breaks up the cartel” in the banking industry.James Smith, pictured, told Tribune Business that the Colombia-
Employers have 'nothing to fear' on union merger
Top government labour officials yesterday backed the proposed merger of the two trade union umbrella organisations as an overdue “step in the right direction”, and said employers have “nothing to fear”. John Pinder, director of labour, told Tribune
Baha Mar bankruptcy judge to lead seminar
Bahamian insolvency professionals are teaming with an international association to finalise plans for a one-day seminar to be held at the Baha Mar Convention Centre next month. The International Association of Restructuring, Insolvency and Bankruptc
Bahamas 'on it' during world's top boat show
Marina operators yesterday said The Bahamas “was on it” at the world’s largest boat show in a bid to lure more yachting business and aid post-Dorian recovery efforts. Joe Dargavage, vice-president of the Bahamas Marinas Association (BMA), and owner
DPM: Dorian won't break VAT promise
The government will likely need around $300m in bank and other commercial financing to meet post-Dorian needs, as the deputy prime minister pledged: “We won’t break our VAT promise to the people.” K Peter Turnquest told Tribune Business that the Min
Union merger 'critically urgent' for worker rights
The merger of The Bahamas’ two major trade union bodies is “critically urgent” because workers are losing hard-fought rights and benefits, a leading unionist has told Tribune Business. Obie Ferguson, head of the Trades Union Congress (TUC), said its
Broker fighting commission to close this week
A Bahamian broker/dealer embroiled in a furious legal battle with the Securities Commission yesterday confirmed it will close this week with multiple job losses having already occurred.Guy Gentile, principal of SureTrader and MintBroker International
WSC union $5m claim ends with $15k award
A trade union’s bid to secure nearly $5m in damages from the Water & Sewerage Corporation for violating their industrial agreement has been rejected by a Supreme Court judge.
Broker: Too many Bahamians priced out of mid-market homes
A well-known real estate broker has urged the country to tackle the growing problem of housing affordability, warning that too many Bahamians are being priced out of the mid-range market.“Home ownership has been shown to be the foundation of safer, h
Property worth $160m added to taxation rolls
The government has already added $160m worth of property to the tax roll through its technology-driven initiative to upgrade “antiquated” systems, the deputy prime minister has revealed.K Peter Turnquest, addressing the eighth annual Caribbean valuat
Works minister to lead Long Island's Outlook
Desmond Bannister, pictured, minister of works, will be the main speaker at the fifth Long Island Business Outlook conference that is scheduled for November 14.It will be held at the Ladies Friendship Centre in the settlement of Grays under the theme
PM unveils $1.5m farm, fishing relief
The prime minister yesterday said the Government plans to establish a $1.5m loan and grant initiative to help impacted farmers and fishermen recover from Hurricane Dorian. The programme, which is also focused on persons in the boating industry, is t
