New chair for BISX-listed bank
Fidelity Bank (Bahamas) majority shareholder yesterday named Scott F Elphinstone as chairman of the BISX-listed retail banking subsidiary with effect from August 22.He replaces D Anthony Jones, who recently retired from the Board. Mr Elphinstone is a
Provider plans 'contactless' digital cash service launch
A mobile payment provider yesterday said it plans to roll-out a digital cash service that will allow Bahamians to make “contactless” transactions with merchants and others.Island Pay, which was founded in 2016, said its Contactless Companion Platform
Bank reformers: 'still much to do'
An anti-bank fee advocacy group yesterday argued there was “still much to do” to improve the industry, and expressed concern about insufficient education on the proposed credit bureau.Dr Denotrah Archer-Cartwright, lead organiser for Citizens Against
'Smarter banking' drives fee declines
THE Clearing Banks Association’s (CBA) chairman yesterday said “smarter banking” by consumers, rather than “across the board” reductions, have driven recent bank fee declines.Gowon Bowe’s comments came following numerous complaints from Bahamians ove
Minister making his Pointe on workforce
A Cabinet minister yesterday fired back at Opposition criticisms over the Government’s handling of labour concerns at The Pointe project, arguing that the situation was worse under the former administration.Dion Foulkes, minister of labour, hit out a
'Marginalise unions and you finish middle class'
The Government and private sector will eliminate the middle class “bedrock of society” if they “continue to marginalise and bypass” trade unions, a senior leader warned yesterday.Bernard Evans, the National Congress of Trade Unions (NCTU) president,
'Move quickly' or lose cannabis' medical potential
THE Bahamas could attract “hundreds of millions” of dollars as a medical cannabis “hub”, a Jamaican scientist said yesterday, urging the Government to “move quickly” or lose out.Dr Henry Lowe, a renowned Jamaican nutraceutical scientist and founder o
No bad WTO deal must be 'order of day'
The Government’s pledge that it will not accept a “bad WTO deal” must be “the order of the day”, the Chamber of Commerce’s top trade executive urged yesterday.Darron Pickstock, who heads the Chamber’s trade and investment division, told Tribune Busin
'Seamless migration' for Grand Lucayan
The Government is pledging a “seamless migration” in a bid to reassure 400 “very anxious and concerned” Grand Lucayan workers prior to taking over the resort’s operations today.Well-placed Tribune Business sources, speaking on condition of anonymity,
Chamber: ‘Think again’ on new BPL plant at Clifton
Bahamas Power & Light (BPL) would be “well advised to consider” if Clifton Pier is suitable for both its current and proposed new power plants, the Chamber of Commerce’s chief executive urged yesterday.
Govt urged to boost car rental regulation
Auto repairers yesterday urged the Government to intensify regulation of the car rental business, amid calls for the removal of alleged “foreign elements” in its ownership.Dwaine Scavella, president of the Bahamas Auto Repair Association, told Tribun
New legislation to 'codify' quarterly fiscal reporting
The Government’s plans to publish quarterly fiscal reports will be “codified” in new laws to overhaul the public sector’s financial management, the deputy prime minister said yesterday. K Peter Turnquest told a seminar for senior civil servants that
Food store VAT exceeds forecast by double digits
Food stores’ early 12 percent VAT collections have exceeded predictions by double digits, with Super Value’s owner admitting: “We were all wrong about breadbasket sales.”Rupert Roberts told Tribune Business that VAT “zero rated” food products were up
Top negotiator: WTO 'won't hurt' this economy
The Bahamas’ newly-appointed chief negotiator yesterday pledged this nation “cannot join the WTO on terms that injure” its economy or any major industries.Zhivargo Laing, pictured, who replaces Raymond Winder, sought to reassure the private sector an
'Go no further than have to' over EU Bill
The financial services industry wants the Bahamas “not to go further than it has to” in meeting Europe’s anti-tax avoidance demands and averting a potential ‘blacklisting’.Michael Paton, a former Bahamas Financial Services Board (BFSB) chairman, told
