Fidelity 'can be proud' of return on affiliate sale
Fidelity Bank (Bahamas) “can be proud” that it nearly doubled the value of its investment in exiting its former merchant bank affiliate, a top executive said yesterday. Gowon Bowe, pictured , the BISX-listed institution’s chief financial officer, to
IMF slashes Bahamas GDP growth by 50%
The International Monetary Fund (IMF) yesterday slashed The Bahamas’ 2019 growth forecast by 50 percent, and projected the economy will contract next year, due to Hurricane Dorian.Unveiling its latest World Economic Outlook report, the Fund said this
Govt unveils 'fundamental reset' for public contracts
The government last night unveiled draft legislation representing a “fundamental reset” of its public procurement processes in a bid to save taxpayers millions and aid small businesses.Marlon Johnson, the Ministry of Finance’s acting financial secret
Cruise industry 'accelerates' $455m projects post-Dorian
The cruise industry has pledged to help “broadcast the message that most of The Bahamas is open” after raising $8m for Hurricane Dorian relief and recovery efforts. The Florida-Caribbean Cruise Association (FCCA), in a statement, said its member lin
Telethon planned to assist Dorian relief
The Bahamas Chamber of Commerce is teaming with Rotary Bahamas to stage a November 30 telethon that will raise “an aggressive amount” for Hurricane Dorian relief. Krystelle Rutherford-Ferguson, the Chamber’s chairman, said the effort - part of the b
RoyalFidelity: $1bn goal as 'Caribbean's premier'
RoyalFidelity is now focused on becoming “the premier Caribbean investment bank and wealth manager” after its management-led buyout closed last Wednesday, its president has revealed.Michael Anderson, pictured, confirming that all necessary regulatory
Top Abaco food store to re-open with 40% of staff
Abaco’s main supermarket will re-open “within two weeks” with just over 40 percent of its pre-Dorian staff, as one of its principals said: “I’ve never seen devastation like that in my life.”Rupert Roberts, the Super Value chief, told Tribune Business
Govt finances face 3-year Dorian blow
Hurricane Dorian will likely throw the government’s finances off-track for the next three years, the deputy prime minister has revealed, although its fiscal “fundamentals” have not altered.K Peter Turnquest told Tribune Business that a “three-year ru
Freeport firms on 'life support' following Dorian
Freeport-based small businesses say they do not know how they will recover and resume operations after the devastating blow inflicted by Hurricane Dorian.Many were uninsured and lost their entire inventory and equipment when Dorian’s storm surge swep
Butler's battle over Hayward's trust
The late Sir Jack Hayward’s family trust has become embroiled in a fresh legal battle sparked by the claims of his Bahamian butler, Tribune Business can reveal.
$10m Dorian finance facility 'good start, but not enough'
The private sector has hailed the government’s $10m financing facility for Dorian-ravaged businesses as “a great start”, while expressing concerns it is “not nearly enough” to cover all needs.Chamber of Commerce heads for both Abaco and Grand Bahama
Chamber to 'champion climate change' focus
The Chamber of Commerce next year plans to “champion the cause of climate change” awareness and its impact on Bahamian business and livelihoods, its chief executive has revealed. Jeffery Beckles, the Bahamas Chamber of Commerce and Employers Confede
Grand Lucayan to re-open Tuesday
The Grand Lucayan resort will re-open on Tuesday, its chairman revealed yesterday, in a move that will return 200 staff to work and seek to narrow the government’s ongoing subsidy.
Governor: Stick to plan for 'credibility'
The Bahamas must “show credibility” by sticking to its medium and long-term fiscal plan despite Hurricane Dorian’s $436m blow, the Central Bank’s governor urged yesterday. John Rolle, pictured, told Tribune Business it was critical that this nation “
'Don't spend before necessary' on Dorian
The Bahamas must not be “aggressive and spend money before we need to” on Hurricane Dorian restoration, a former Chamber of Commerce chairman warned yesterday. Gowon Bowe told Tribune Business it needed to craft a recovery strategy that minimised di
