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
$250m Hurricane Hole project to 'go vertical' by January 2019
A BAHAMIAN developer yesterday said it plans to “go vertical” on its $250 million Hurricane Hole redevelopment within 12 months, after completing the property’s purchase from Atlantis’s owner.Bill Green, president of Sterling Global Financial’s devel
Mortgage approval rate drops to 43%
MORTGAGE loan approval rates have been slashed in half to 42.6 per cent in just two-and-a-half years, highlighting the commercial bank retreat from the vital Bahamian housing market.Data produced by the Central Bank of the Bahamas’ research departmen
PM promises reforms for Business Licence
THE Prime Minister yesterday said the Government will allow companies to pay and renew Business Licence fees when their financial year ends, rather than the current end-March deadline.Dr Hubert Minnis, addressing a Bahamas Chamber of Commerce and Emp
IMAX 'Superplex' eyes April 20 open
CONSTRUCTION on the $42 million IMAX-centred Fusion Superplex will today “ramp up” to 24 hour shifts, with the all-Bahamian investor group behind the project eyeing an April 20 opening.Dominic Richards, the Atavus Group’s chief operating officer, sai
Bahamas 'a dinosaur in space travel age'
BAHAMASLocal.com’s top executive yesterday likened this nation to “a dinosaur in a space travel age” through the Government’s continued reliance on paper-based systems.Jason McDowall, head of a company now seeking to export the model it has pioneered
IAN FERGUSON: Labour specialists key to workplace harmony
MAINTAINING a strong relationship between employer and employee can be key to a company’s ultimate success. If such a relationship is in place, employees will be more productive, loyal, efficient and create less conflict. Yet for many years, even be
Sustainable Nassau targets $450m spend
THE ‘Sustainable Nassau Action Plan’ calls for $450 million to be invested in 10 projects across two decades, it was revealed yesterday, as communities were urged to play a greater role in solving their problems.Frankie Campbell, minister of transpor
Insurance Commission names Conduct chief
THE Insurance Commission of the Bahamas has named Tamika S. Dean as manager of intermediaries and its Market Conduct unit.Mrs Dean has more than 15 years in combined insurance industry and regulatory experience, having previously served as analyst/re
'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
