Strong Bahamas ties to $125m fraud play
Two purported Nassau residents are alleged to be principals in a $125m fraud that involves high-end Paradise Island real estate and a $3.5m Bahamian investment fund.
Bahamian broker in five-day suspension
The Securities Commission yesterday used its powers to temporarily suspend a controversial Bahamian broker/dealer’s registration for five days until next Tuesday. The move was confirmed by SureTrader, the online broker owned by Guy Gentile, via a no
Dorian may push Lucayan sale to 'just before Xmas'
The Grand Lucayan’s chairman yesterday revealed that Hurricane Dorian might delay the resort’s sale until “just before Christmas”, but pledged: “We’ll get it done.” Michael Scott told Tribune Business that while the category five storm’s impact may
'Dinosaur practices' slammed by small business advocate
A small business advocate yesterday branded the continued reliance on guaranteed bank loans to finance the sector as “dinosaur practices”, as he urged entrepreneurs: “Think globally.”Mark A Turnquest, principal of Mark A Turnquest Consulting, told Tr
DPM pledges relief packages for Dorian
The government will create relief packages to assist persons whose lives have been devastated by Hurricane Dorian, the deputy prime minister has revealed. KP Turnquest said this will enable persons to rebuild their lives and communities, as he addre
Minister targets 'normalcy' for farmers and fishermen
Major international agencies are helping The Bahamas with efforts to transform the agriculture and fisheries sectors to a post-Dorian “state of normalcy”, a Cabinet minister said yesterday. Michael Pintard, minister of agriculture and fisheries, tol
CIBC unveils Dorian donation and relief
CIBC FirstCaribbean International Bank made a $100,000 donation to the Bahamas Red Cross, and unveiled financial concessions, as its contribution to Hurricane Dorian relief efforts.Colette Delaney, CIBC FirstCaribbean chief executive and chair of the
Chamber elects new chairman and Board
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has elected Khrystle L. Rutherford- Ferguson as its first female chairman. The non-profit organisation, which serves as the voice of the business community, announced the appointmen
PM's 'red tape' worry on Dorian rebuilding
The prime minister has emphasised to the private sector that “red tape” needs to be removed so that the rebuilding process on Abaco and Grand Bahama proceeds as quickly as possible. Dr Hubert Minnis was speaking at a meeting with the Bahamas Chamber
Corner Bank hands $100k to Red Cross
A Bahamas-based financial institution has donated $100,000 to The Bahamas Red Cross to assist with Hurricane Dorian relief efforts. Cornèr Bank (Overseas), which earlier this year became the first to launch a round-the-clock trading platform for Bah
Small business faces $180m 'finance gap'
The Bahamas faces a $180m “finance gap” in providing capital to small businesses, the Inter-American Development Bank (IDB) has revealed, as its project covers just 17 percent of demand. The multilateral lender, in documents detailing its $25m initi
Dorian 'totally destroys' 80% of fishing industry
Fishermen yesterday said Hurricane Dorian had “totally destroyed” 80 percent of the industry in Abaco and Grand Bahama amid uncertainty over how the government will aid recovery.“Eighty percent of the fisheries sector in Grand Bahama and Abaco is tot
Abaco can be 'model rebuild for Caribbean'
Abaco can become “uniquely distinct” as the Caribbean “model” for how storm-ravaged communities are rebuilt, the Chamber of Commerce’s chief executive argued yesterday. Jeffrey Beckles told Tribune Business that Hurricane Dorian’s devastation had “p
ZNS blasts $542k summary judgment bid as 'premature'
Attorneys for ZNS have slammed the “premature” effort to enforce a $542,000 summary judgment bid against the state-owned broadcaster over a satellite contract dispute.Dennis Tracey, an attorney with Hogan Lovells, the law firm that traditionally repr
BPL solution ‘must be around corner’
Bahamians “shouldn’t fool ourselves” that Bahamas Power & Light’s (BPL) woes have gone away amid the post-Dorian chaos, the Chamber of Commerce’s top executive warned yesterday.
