DPM: ‘New chapter’ for financial services
The deputy prime minister yesterday hailed the Investment Funds Bill 2019 as “a new chapter” for Bahamian financial services, replacing and rebalancing an “outdated” regulatory regime.
‘Legal question’ over Promotion Boards’ $50m
A former attorney general says a “live legal question” exists over the $50m raised by the various tourism industry promotion boards to market The Bahamas annually to potential visitors.
Bahamas provider extends $22.5m to Cayman project
A $22.5m loan from a Bahamas-based financial services provider is providing much-needed bridge funding for the re-development of the five-star Grand Cayman Grand Hyatt.
Former AG backs income tax move
A former attorney general has backed the introduction of income tax in The Bahamas as a more “progressive” and fair way to distribute the tax burden.
‘Nothing to celebrate’ in mid-year budget
The DNA yesterday slammed the government’s projected $185m revenue shortfall as “unacceptable and inadequate”, adding that Bahamians had “nothing to celebrate” in the mid-year budget.
Cooper: Change the conversation
THE Bahamas has a chance to “change the conversation” after the European Commission’s list of nations that pose a “high” financial crime risk was rejected by the bloc’s 28 member states.
BPL to seek Shell equity for its $95m
Bahamas Power & Light (BPL) will likely take an equity ownership interest in Shell’s new power plant in return for its $95m emergency generation investment, it was revealed yesterday.
Don’t cut spending ‘too far’, govt told
Private sector leaders yesterday warned the government not to “go too far” with its planned $130m spending cuts, pointing out that 40 years of fiscal woe “can’t be undone in three years”.
US warnings ‘threaten core of our existence’
The Bahamas “must do everything in our power” to combat US crime advisories, the Chamber of Commerce’s chief executive warning yesterday: “It threatens the very core of our existence”.
Power managers: Job fears, but ‘on right path’
Bahamas Power & Light’s (BPL) managerial union yesterday said the utility’s generation reforms are “on the right path” while voicing fears about its members’ job security.
Banks’ bad loans strike ten-year low
Bad loans commercial banking industry borrowers dropped to under $800m at end-January 2019, falling to their “lowest levels for ten years”.
Bahamas Striping wins award from think-tank
The Bahamas Striping Group of Companies (BSGC) has been honoured with the Nassau Institute’s Freedom Award for Entrepreneurship.
BISX market cap rises $50m in '18
The market value of all BISX-listed securities rose by nearly $50m during 2018, with a strong fourth quarter enabling the exchange’s All-Share Index to close the year up 2.2 percent.
Govt pushes innovation as solution to change
The government is pushing technology and innovation as a response to the dynamic, rapidly evolving global economy, the deputy prime minister has confirmed.
BPL renewable energy plan still in ‘draft phase’
BAHAMAS Power & Light’s (BPL) $95m deal for new electricity generation “ties in” to its renewable energy plans, a senior executive has confirmed, although these are only in “draft phase”.
