Lay-offs cut govts wage bill by $20m
Contract worker terminations and early retirements enabled the Government to slash its civil service wage bill by $20m during the fiscal year’s first quarter, it was revealed yesterday.The Ministry of Finance’s “snapshot” of the three months to end-S
Doctors names top RBC chief to board
Royal Bank of Canada’s (RBC) Bahamian managing director has been appointed to Doctors Hospital’s board of directors.“We consider ourselves most fortunate to have someone with Nat Beneby’s experience and expertise in the financial world join Doctors H
Healthcare 'stagnation' warning if NHI rejected
BAHAMIANS have been warned that the drive towards affordable, quality healthcare for all will “stagnate” if they do not back the Government’s revised National Health Insurance model.Dr Duane Sands, minister of health, told Tribune Business it would
AG: Prosecutions rise 40-fold over money laundering
The Bahamas will have resolved “99.9 percent” of the remaining weaknesses in its anti-financial crime defences by year-end, with money laundering prosecutions having increased 40-fold.Carl Bethel QC, the Attorney General, yesterday told Tribune Busin
Margaritaville battle back on
Margaritaville’s Bahamian franchisee has not given up on its bid to block the brand’s tie-up with the $250m Pointe project, refiling its lawsuit in Florida state courts.The US attorneys for Boss Investments, whose principals are Peter Maury and Mike
Attorney loses Colina battle
A Bahamian attorney has lost his battle with Colina Insurance Company after the appeals court rejected claims that his $150,000 life insurance policy had “unlawfully lapsed”.Dorsey McPhee, representing himself, had challenged Justice Indra Charles’s
Union leader 'not screaming' on NHI funding
A trade union body is “not screaming” about the need to finance National Health Insurance (NHI) given that its members will not have to pay any extra from already-stretched salaries.Bernard Evans, pictured, the National Congress of Trade Unions (NCTU
Sterling Global appoints investor relations chief
Sterling Global Financial, the Bahamian headquartered financial provider, has named Karyn Phuong as its vice-president for investor relations.Ms Phuong will manage Sterling’s corporate communications strategy, and be a key member of the executive tea
Financial services provider in 10th birthday donation
A Bahamian financial services provider has donated to the Bahamas Down Syndrome Association and its restaurant, Ty’s Place, to mark its tenth anniversary.Normally, a quiet giver, owner and president of FC Capital Investments Ltd (FCCI) Alexander Murb
'Immense pressure' on rising fuel costs
Rising fuel costs are putting “immense pressure” on businesses within the transportation sector, with one local operator describing it as a “major concern”.“Next to staff, fuel is your biggest cost. When fuel costs start to go up you have to pay atte
Bran on NHI: 'We can't take more tax'
THE Democratic National Alliance’s (DNA) ex-leader yesterday blasted the proposed National Health Insurance (NHI) payroll levy, saying: “No more taxes, period”.Branville McCartney, pictured, in an interview with Tribune Business, slammed: “The Govern
'Punching bag': Bahamas hit by new financial blow
The Bahamas was yesterday branded “a punching bag” after its financial services industry was dealt a fresh blow by global anti-money laundering overseers.KP Turnquest, the Deputy Prime Minister, told Tribune Business that “institutional strengthen
FATF 'won't stop' until Bahamas out of financial industry
Two former attorneys general yesterday agreed that the global fight against financial crime has been misused to undermine The Bahamas’ competitiveness and drive it out of financial services.Alfred Sears QC and John Delaney QC, both of whom had to dea
Ex-AG challenges beneficial owner registry proposal
A former attorney general yesterday challenged the Government’s plan to create a Beneficial Ownership Registry, arguing that it should instead simply expand the existing regulatory regime.John Delaney QC, principal at the Delaney Partners law firm, t
Drinks manufacturer: Sugar tax is a 'killer'
A Bahamian beverage manufacturer yesterday warned that the proposed “sugary drink tax’” will be a “killer” for its business, saying: “They’re trying to get rid of the industry.”Geoffrey Knowles, Aquapure’s operations manager, told Tribune Business th
