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
'Discipline, not just speed' needed in Dorian clean-up
A Cabinet minister says Abaco’s post-Dorian clean-up “requires tremendous discipline and not merely speed” amid concerns that the effort needs to be “ramped up” to facilitate the island’s restoration. Desmond Bannister, minister of works, told Tribu
Bank acquires former RBC FINCO property
NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty, has facilitated the sale of the former FINCO building on Robinson Road to another unnamed retail bank. Larry Roberts, commercial broker, negotiated the sale of the property fo
DPM: Release 'chokehold' over financial innovation
The Bahamas must “release our chokehold on the status quo” if it is to successfully break into new financial services products and markets, the deputy prime minister has urged. K Peter Turnquest, addressing members of the Bahamas Association of Comp
Insurers suffer 'over $1bn' Dorian losses
Hurricane Dorian has to-date inflicted “over $1bn in insured losses” on Bahamian insurers, it was revealed yesterday, with some forecasts suggesting this may rise as high as $1.5bn. Warren Rolle, the Bahamas Insurance Association’s (BIA) chairman, t
Leno targets $800m assets via BOB deal
Leno Corporate Services is aiming to close 2019 with over $800m in assets under administration following today’s expected completion of its Bank of The Bahamas trust acquisition.Sean Longley, Leno’s founder and president, told Tribune Business yester
Minister: BPL financial past ‘totally shameful’
A Cabinet minister yesterday blasted Bahamas Power & Light’s (BPL) financial past as “absolutely shameful” amid revelations it received a $15m taxpayer loan to help repay due debt.
'Fabric of society' threatened from no accountability
The Road Traffic Department’s driver licence woes demonstrate how the absence of public sector accountability threatens the “fabric of society”, a governance reformer argued yesterday.Robert Myers, the Organisation for Responsible Governance’s princi
