Distressed debt acquirer's unsecured loan expansion
A “bad mortgage” acquirer is aiming to further relieve distressed borrowers and their lenders by expanding into unsecured loan purchases, it was revealed yesterday.Sir Franklyn Wilson, whose group is one of the investors behind Gateway Financial, tol
Minister not intervening in Sky Bahamas dispute
A Cabinet minister yesterday declined to intervene in the dispute that has prevented Sky Bahamas from flying for three weeks and left it on the brink of financial collapse.Dionisio D’Aguilar, minister of tourism and aviation, instead urged Captain Ra
Negotiating 'in the dark' fears on hotel talks
A former hotel union presidential candidate has voiced concern that a new industrial agreement is being negotiated “in the dark” with members unaware of what is being done on their behalf. Dave Beckford, who led Team Destiny in its unsuccessful 2013
Law firm urges 'clarification' on $13m judgment
Bahamian law requires further “clarification” following the Privy Council verdict that allowed a liquidator to serve a $13.148m “claw back” claim outside this nation, it was argued yesterday. Attorneys for ZCM Asset Holding Company (Bermuda) Ltd, wh
Pool specialist in new consultancy
A swimming pool services provider has expanded with the launch of his new consulting service, Pool Solutions.Gavin Knowles, long-standing owner and operator of Saline Pools, said he started his new consultancy to ensure swimming pools are free of hea
'Community specific' model to expand for small business
THE Small Business Development Centre’s (SBDC) executive director says it will look to expand the “community specific” model of the Over-the-Hill initiative, where 18 entrepreneurs were awarded $2,500 in grant funding. Those awards represented the f
New Abaco port needs 'free trade zone' status
Abaco’s Chamber of Commerce president yesterday called for the island’s Chinese-constructed new port to be designated as a “free trade zone” to make its $39m price tag “pay off”. Ken Hutton told Tribune Business that the north Abaco port, built by C
Private sector demands WTO 'sense of direction'
The private sector yesterday urged the government to give it “a sense of direction” over its WTO accession plans since the June 2020 target date was clearly “not achievable”. Darron Pickstock, who heads the Chamber of Commerce’s trade and investment
'Eagerly awaited $13m claw back verdict upheld
A Bahamian liquidator’s bid to “claw back” a $13.148m pay-out by serving the recipient outside this jurisdiction was yesterday upheld by the London-based Privy Council. The highest court in the Bahamian judicial system found that Alan Bates, court-a
MasterCard eyes Out Island tie-up with credit unions
MASTERCARD wants to introduce its payment technology in the Family Islands via partnerships with Bahamian credit unions, its executives said yesterday, targeting unbanked and under-served communities. Juan Zavala Aleman, MasterCard’s manager of acco
Credit union consolidation predicted by Central Bank
Small Bahamian credit unions will be forced to merge and consolidate as a result of intensified regulation, the Central Bank is predicting.The regulator, in its just-released 2018 Financial Stability Report, said it was increasing oversight of the se
Tourism tie-up produces 678k extra room nights
The Ministry of Tourism is attributing a 678,310 increase in group meeting room nights to its partnership with Cvent, an events and hospitality management technology company. The first year of their tie-up saw group bookings for meetings increase by
Chinese researchers meet BAIC managers
Chinese agricultural researchers met with the Bahamas Agricultural and Industrial Corporation’s (BAIC) chairman and executive management on Friday. Tong Xiongcai, vice-president of Hunan Academy of Agricultural Sciences, paid a courtesy call on Bish
Mastercard seeks 'change in mindset' with payments
MASTERCARD yesterday said it is hoping that a “change in mindset” will lead to greater Bahamian take-up of its solution for micro and small businesses in cash-dominated industries. Juan Zavala Aleman, Mastercard’s manager of account management, said
PM: Credit unions key to helping 'unbanked'
The prime minister has urged Bahamian credit unions to play “an essential role” in delivering financial services to unbanked communities in the Family Islands.Addressing the World Council of Credit Unions and Caribbean Confederation of Credit Unions
