BOB's $168m bail-out no 'near term' taxpayer fear
The $168m Bank of The Bahamas (BOB) bail-out is unlikely to become a liability for Bahamian taxpayers within the next three-five years, Moody’s believes.The international credit rating agency, in its annual in-depth analysis of the country’s economic
Chamber elects new directors
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) has elected three new members to its board of directors with effect from July 12.The newcomer trio for 2018-2019 are:• Keith Beneby, Scotiabank (Bahamas) - director• Sandy Morley, BA
NIB unveils its new chairman
The Government yesterday confirmed that has been appointed chairman of the National Insurance Board (NIB).Mr Smith has 29 years’ experience in life and health insurance, having served in many management and executive positions. In recent years, his p
BPL boardroom battle sparks power outages
Bahamas Power & Light’s (BPL) former chairman was yesterday accused of exposing New Providence residents to power outages by blocking the purchase of critical parts.
Govt's Grand Lucayan deal to close Sept 11
The Government’s $65m Grand Lucayan purchase is due to close on September 11, with the Hotel Corporation’s chair pledging: “This is not going to be a haemorrhage of taxpayer funds.”Michael Scott, confirming the acquisition price remains the same as t
Moody's: Faith shaken in Bahamas' fiscal credibility
Moody’s yesterday revealed that faith in The Bahamas’ fiscal policy credibility had been shaken by the Government’s revelation of $760m in total unfunded arrears over the past two years.The credit rating agency, in its annual full country analysis, s
BPL Board turmoil delays Shell deal
Bahamas Power & Light’s (BPL) boardroom turmoil has already delayed completion of a deal to provide Nassau with cheaper, more reliable energy by a month, it was admitted yesterday.
BPL battle exposes governance reform need among SOEs
Governance reformers yesterday argued that the Bahamas Power & Light (BPL) board turmoil highlights why The Bahamas must overhaul how state-owned enterprises (SOEs) are run.
BPL outage performance 'better than any summer'
A Cabinet minister yesterday asserted that Bahamas Power and Light’s (BPL) performance this summer relative to power outages is “still better than any in the past”.Speaking outside Cabinet yesterday, Desmond Bannister, minister of works, said: “I’m h
Sterling names senior analyst
Sterling Global has named Aniska Rolle to the post of senior analyst at the financial services business with nearly $10bn under administration or management.“Aniska brings a wealth of knowledge and experience in banking and finance, having worked wit
Tourism reconnects with Florida travel community
The Ministry of Tourism recently held a joint dinner and mini tradeshow for 60 members of South Florida’s largest travel agent association.The event, targeted at the Travel Industry Association (TIA) of South Florida, was held at La Jolla in Coral Ga
Bahamas 'seizes' greater tourism, aviation business
The Bahamas has “seized additional business opportunities for its tourism and aviation sectors” at the world’s largest international aviation conference.Captain Greg Rolle, the Ministry of Tourism and Aviation’s senior director of vertical markets an
Split sparked by row over power generation
Bahamas Power & Light’s (BPL) Board split was sparked by disputes over generation technology for the new, low-cost power plant and executive appointments, Tribune Business can reveal.
BTC revenue revival after 10k client loss
The Bahamas Telecommunications Company’s (BTC) owner is targeting a 2018 second half turnaround for its slumping top line, after it lost another 10,400 mobile customers due to “competitive intensity”.Balan Nair, Liberty Latin America’s (LiLAC) chief
$10m damages against Bimini developer upheld
A damages award of $9.67m has been upheld against the Bimini Bay resort’s original developer over its demolition of a tenant’s beach club in defiance of a Supreme Court order. The Court of Appeal, in a 2-1 majority verdict, reinstated $6.8m in “gener
