'Flagship' manager hits Scotia with $2.4m claim
Scotiabank (Bahamas) has been hit with a $2.4 million wrongful dismissal claim from an ex-manager of its “flagship” branch, who claims he was forced out after being identified as “a problem”.Darron Bowe, who headed its Rawson Square outlet, is allegi
Polymers urges: 'Jump onboard' with LNG first
POLYMERS International yesterday said it will reap “a return on investment within a year” from becoming the first Bahamian company to import liquefied natural gas (LNG) to run its processes.Greg Ebelhar, the Freeport-based industrial giant’s chief op
Minister 'detests' Contractor chief's talking through media
A CABINET Minister yesterday blamed the Bahamian Contractors Association (BCA) for the sector’s delayed regulation, saying he “detests” how its president is talking to him through the media.Desmond Bannister, minister of works, said the failure to im
NIB viability threat exposed by $13.4m 'deficit' on payouts
THE growing threat to the National Insurance Board’s (NIB) future viability has been underscored by the $13.4 million ‘deficit’ between income and benefits payouts in 2016.NIB’s annual report for that year, tabled in Parliament yesterday, revealed th
DPM: Blockchain could have halted Jean-Rony's exile
THE Deputy Prime Minister yesterday said blockchain technology can revolutionise the way business is done in the Bahamas, and pledged: “We can be the digital leaders in this region.”K P Turnquest, speaking at the opening of an Inter-American Developm
Two years for Credit Bureau to start work
A Bahamian credit bureau will take 18-24 months to become operational once supporting legislation is enacted, the Deputy Prime Minister said yesterday.During his contribution to the House debate on the Credit Reporting Bill and accompanying regulatio
'Hot shot' program stands test of time
CORELDRAW, still a ‘hot-shot’ program, was first released in January 1989, running on the Windows 2.x operating system. Today, the software is still used by many people, with the latest version primarily still designed for Windows. There were several
DPM hails Vacation Express GB return
THE Deputy Prime Minister has hailed Vacation Express’s return with additional flights as a “good sign” for Grand Bahama’s tourism sector.“I think it is an indication that a number of travel agencies and booking agencies recognise that Grand Bahama i
Contractors' WTO 'survival' threatened by no regulation
The Bahamian Contractors Association’s (BCA) president yesterday warned it was “critical to our survival” under WTO for the Government to finally enact regulation of the $2 billion industry.Leonard Sands told Tribune Business it was “beyond urgent” t
RBC: Only university graduates need apply
A TOP Royal Bank of Canada (RBC) executive yesterday cited the inadequate Bahamian education system for forcing it to “adjust” its recruiting policy and target university students/graduates for even the most basic positions.Tim Rider, RBC Caribbean’s
RBC's middle class mortgage appetite 'severely diminished'
A ROYAL Bank of Canada (RBC) executive yesterday said its appetite to lend mortgages to middle and lower class Bahamians was “substantially diminished” due to inadequate market infrastructure. Tim Rider, RBC Caribbean’s senior vice-president of sales
GB Chamber chief fears more closures
THE Grand Bahama Chamber of Commerce’s president yesterday expressed concern that further Freeport businesses may close following the Prime Minister’s more downbeat appraisal on the Grand Lucayan sale.Mick Holding told Tribune Business he was surpris
$1m factoring scheme in SME funding 'firsts'
A “first ever” $1 million accounts ‘factoring’ scheme aims to aid “well over 100” Bahamian small businesses immediately following its summer 2018 launch. Omni Financial Group, the Bahamian payments solutions provider, yesterday hailed its partnership
Bahamas to adopt UN model arbitration law
THE Bahamas is aiming to adopt the United Nations (UN) model law on arbitration, Cabinet minister said yesterday.Brent Symonette, who was speaking at the opening of Royal Fidelity’s Economic Outlook conference, said: “We hope to adopt the UNCITRAL mo
Over 170 attend seminar on FINTECH possibilities
MORE than 170 executives from over 50 companies attended last week’s financial technology (FINTECH) seminar hosted by the Bahamas Financial Services Board (BFSB) and ALIV.“FINTECH is changing the way that we do business, and it’s imperative that we u
