Bahamas needs $200m to replace lost WTO revenue
THE Bahamas will have to replace almost $200 million or 10.5 per cent of government revenues in a “realistic scenario” for WTO accession, a consultant has revealed.Dr Derk Bienen, who helped drafted a government-funded study on the implications of be
500 hospital fees to come in July 1
THE Government plans to proceed with implementing 500 fees at the Princess Margaret Hospital (PMH) from July 1, amid warnings that it “can’t put essential services at risk”.Dr Duane Sands, minister of health, told Tribune Business that many of these
Near-30% pt occupancy rise 'good for us, bad for Freeport'
A MAJOR Freeport hotel says its near-30 percentage point increase in annual occupancy rates is “good for us but bad for the destination”, which needs to be “made relevant again”.Magnus Alnebeck, Pelican Bay’s managing director, told Tribune Business
Fishing regulations suspended after 40% booking fall
THE Government has suspended the flats fishing regulations after their “hasty crafting and poor implementation” was blamed for up to a 40 per cent fall in bonefish lodge bookings.
Aliv launches in Long Island
ALIV last Friday launched mobile services on Long Island, while also unveiling its store in Deadman’s Cay.Prior to the official opening, ALIV executives, staff and community members were invited to an official cocktail launch on April 19 at Lloyd’s S
Doubling fisheries exports is 'most insane concept'
AN environmental activist has branded a Cabinet minster’s call for the Bahamas to double its annual fisheries exports as “the most insane concept”, calling for him to instead focus on curbing poaching.Sam Duncombe, reEarth’s president, told Tribune B
Bahamas to send message: Banks 'cannot launder cash'
THE Central Bank wants to tell the world that the Bahamas’ international banking sector “cannot launder cash”, with virtually all institutions having ceased taking such deposits.The regulator, unveiling the results of an anti-money laundering/counter
Realtors in foreign agent crackdown
THE Bahamas Real Estate Association (BREA) is aiming to crackdown on foreign agents operating illegally in the Bahamas following its recent annual general meeting (AGM).The event, attended by almost 100 realtors from the near-700 member organisation,
Corporate taxation dumped in EU bill
The Government has stripped corporate taxation from its anti-blacklisting response, as a top attorney yesterday warned: “Time is not our friend.”Michael Paton, who co-heads the financial sector working group dealing with the European Union (EU) conce
Central Bank eyes digital B$ by 2021
THE Central Bank is aiming to roll-out a ‘test’ digital Bahamian currency by 2021, the Deputy Prime Minister disclosed yesterday, while slamming the banks for “forcing” electronic banking.K P Turnquest, in an address to the ComplianceAid Caribbean An
FINCO suffers 67% profits slump in Q1
ROYAL Bank of Canada’s (RBC) mortgage lending arm yesterday unveiled a 67 per cent year-over-year slump in 2018 first quarter profits as ‘bad credit’ woes continued to bite.Robert Johnston, Finance Corporation of the Bahamas (FINCO) chairman, told sh
Bahamas 'above average risk' over financial crime
THE Deputy Prime Minister yesterday hit out at “historical bias” against the Caribbean as it was revealed that the Bahamas presents an ‘above average’ risk for financial crime abuse.K P Turnquest, addressing the ComplianceAid Caribbean Anti-Money Lau
BPL: Shell bid process ‘transparent and fair’
BAHAMAS Power & Light’s (BPL) top executive yesterday defended Shell’s selection as its preferred generation partner as “transparent and fair”, revealing 50 per cent of bids offered long-term solutions.
Butterfield names top Bahamas executive
BUTTERFIELD Trust (Bahamas) has named Craig Barley as its managing director, with overall responsibility for the management and development of its business in this jurisdiction.Originally from the UK, Mr Barley was most recently chief executive of La
Bahamasair to launch Bimini fights on May 3
BAHAMASAIR will launch four weekly flights between Miami and Bimini on May 3, in a bid to generate extra airlift that will expand the tourism industry.The flight will take half an hour and use a 50-seater aircraft, the ATR 42. The service will leave
