Central Bank handles 24k approval papers annually
EQUITY investments in international financial institutions and investment companies are among the most common areas where Bahamians have invested abroad, the Central Bank’s Governor said yesterday.John Rolle, giving a presentation at a half-day Centr
Bahamas 'must have' gradual liberalisation of exchange controls
THE Bahamas “must have” a gradual approach to exchange control liberalisation, an Argentine economist said yesterday, adding that it was “critical” to have a well-developed economic framework in place.Miguel Kiguel, speaking via Skype at a half-day s
GB Power buy-out approval in face of fight ‘regrettable’
A well-known QC has slammed the Government’s “regrettable” decision to proceed with approving the GB Power buy-out despite knowing his legal challenge was already filed.
Bahamian energy start-up teams with solar provider
A BAHAMIAN green energy start-up has entered into a partnership with a Florida-based solar provider.Global Energy Solutions last week signed a Memorandum of Understanding (MOU) for a clean energy technical partnership with Orlando-based Sybac Solar,
Minister pledges new Nassau power plant
THE Government is planning to soon launch a bidding process to construct a “state of the art” power plant for New Providence, which will also include a solar energy component.Desmond Bannister, minister of works, speaking at a ceremony to mark the si
Central Bank admits 'poor resource use' on exchange control
THE Central Bank yesterday pledged it was moving to eliminate “frustrations” surrounding exchange control approvals, revealing it has committed to a five-to-seven working day turnaround.Tiffany Carter, deputy general manager for the exchange control
MONEY MATTERS: Early training start right on the money
Of all the things parents decide to have a serious conversation with their children about, money rarely makes the list. That is understandable but unfortunate. Understandable because of the significant negative consequences associated with many of th
'No sacred cows': All taxes up for review
A top Finance official has pledged there will be “no sacred cows” as the Government embarks on a wide-ranging review of all tax laws, regulations and procedures.Marlon Johnson, the Ministry of Finance’s acting financial secretary, told Tribune Busine
DPM 'questions' corporate veil piercing tax law
THE Deputy Prime Minister yesterday questioned how the former government “got away” with ‘piercing the corporate veil’ to hold businesses hostage over shareholders’ personal tax liabilities.K P Turnquest told Tribune Business he had asked Marlon John
Money transfer business faces regulatory 'review'
THE Deputy Prime Minister yesterday said he has requested a regulatory “review” of the money transfer industry to ensure there are no loopholes that can be exploited by financial criminals.K P Turnquest, describing the sector as “the next big thing”,
'Grease' economy by ceasing non-resident B$ loan restrictions
THE Central Bank has been urged to “revisit” restrictions on Bahamian dollar lending to non-residents as a way to “grease” the economy and release $1.8 billion in excess banking liquidity.James Smith, a former finance minister and Central Bank govern
MP 'cold shouldered' by Schooner Bay
SOUTH Abaco’s MP has revealed he was ‘cold shouldered’ by a foreign developer when he attempted to resolve the dispute it sparked by evicting a Bahamian farmer from Crown Land.James Albury, who is also parliamentary secretary in the Prime Minister’s
Western Union unveils service, expansion plan
WESTERN Union has pledged to expand beyond its existing 20-plus Bahamas locations, as it unveiled a new service designed to increase money transfer efficiency.The cross-border payments solutions provider, in an effort to drive traffic to its growing
Taxation 'veil piercing' endangers businesses
Private sector representatives yesterday warned that the Government’s ‘piercing of the corporate veil’ to force tax compliance could “place businesses in jeopardy”.Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) c
Gov't warned: 'Don't tie yourself too tight' over spending cuts
The Government must not cut spending so deeply that it chokes off essential infrastructure investment, the Chamber’s chairman warned yesterday, as its deficit fell by over one-third.Michael Maura, the Bahamas Chamber of Commerce and Employers Confede
