Fidelity eyes ‘$7.5m-plus’ profit boost in affiliate exit
Fidelity Bank (Bahamas) will enjoy a $7.5m-plus profit “boost” for 2019 as a result of selling a 50 percent equity stake in its investment banking affiliate, it was revealed yesterday.
Sky’s $500,000 damages battle restored by court
Sky Bahamas’ bid to challenge almost $500,000 in damages awarded to a rival Bahamian airline has been reinstated by the Court of Appeal.
Lucayan managers ‘optimistic’ over payout resolution
A trade union leader yesterday said the Grand Lucayan’s managers are “optimistic” that their voluntary separation packages will be finalised shortly once the prime minister addresses their proposal.
Obie: Oban caused Carnival port move
A former tourism minister yesterday expressed hope that Carnival’s $100m cruise port investment will attract other investors to Grand Bahama, while lamenting the project’s relocation.
Ex-minister challenges Grand Lucayan value
A former tourism minister yesterday queried whether the government is getting “value for money” over its Grand Lucayan purchase, stressing that securing the right brand was critical to revive the resort.
Regulator unveils its examination priorities
The Securities Commission yesterday announced that its 2019 licensee examination priorities are anti-money laundering compliance and the appropriate risk-rating of clients.
Chamber: Bahamas Ferries threatening ‘boating capital’
The Abaco Chamber of Commerce yesterday urged the environment minister to intervene amid fears Bahamas Ferries’ new service is endangering the island’s “boating capital” status.
Carnival cruise port to create 1,000 jobs
The relocated Carnival cruise port will create up to 1,000 jobs and become the company’s largest such facility in the world, the prime minister said last night.
Digital B$ pilot to ‘crystallise’ in ‘19
The Central Bank is aiming to “crystallise” its strategy for a digital Bahamian dollar test project before year-end 2019, its governor revealed yesterday.
Governor: Target ‘minimum’ 2% for GDP growth
The Central Bank’s governor yesterday said The Bahamas needs to target a “minimum” of two percent annual GDP growth as he called for “stronger inroads” into double-digit unemployment.
Central Bank: $100m sell-off to bar ‘excess’ credit boom
The Central Bank yesterday said it had “sold well over $100m” of its government debt holdings to prevent surplus bank liquidity from fuelling an “excessive” consumer credit boom.
‘More queries than answers’ over NHI
AN Opposition Senator yesterday said the revamped National Health Insurance (NHI) proposal raises “more questions than it answers”, arguing that there were “red flags” over its potential economic impact.
URCA targets greater energy sector impact
THE Utilities Regulation and Competition Authority (URCA) yesterday said it plans to focus more heavily on the electricity sector this year after failing to impact the sector as hoped.
URCA targets ‘symbiotic’ policymaker relationship
THE Utilities Regulation and Competition Authority (URCA) yesterday said it was working to ensure it has a “symbiotic” relationship with policymakers, each having a clear understanding of their roles and responsibilities.
Bahamas Ferries: No more defiance of PM
Bahamas Ferries was yesterday said to have pledged it will not continue using Marsh Harbour’s public dock in defiance of orders issued by its third largest shareholder - the prime minister.
