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Mortgage Corp loan provisions $71m off norm
Mortgage Corp loan provisions $71m off norm By NEIL HARTNELL Tribune Business Editor The Bahamas Mortgage Corporation's (BMC) existing policy underestimates loan loss provisioning by more than $71 million, it was disclosed yesterday, its chairman unveil
BEC survives a fuel ‘emergency’
The Bahamas Electricity Corporation (BEC) suffered an “emergency situation” on Wednesday night after it almost ran out of fuel due to bad weather disrupting shipping.
Baha Mar becoming ‘huge white dinosaur’
A former Baha Mar director yesterday warned that the Government will soon “have a huge white dinosaur on their hands”, despite the project’s secured creditor promising that a solution is being developed.
Miller denies running own BEC bid process
Leslie Miller has denied running his own bidding process for the Bahamas Electricity Corporation (BEC), even though one energy group says he encouraged them to submit a proposal after they were kicked out of the official tender.
Bank payment charges need ‘legitimate redress’
THE Central Bank yesterday appeared to concede that fees for payment services were too high and “require legitimate redress”, a view shared by 78 per cent of Bahamians.
Corporate redress regime upheld with $33m verdict
The Supreme Court has prevented the Bahamas being perceived as “a parochial, quirky jurisdiction” for international business through its recent ruling on a $33 million insolvency dispute, a former attorney general said yesterday.
‘Farcical’: Govt picks up ‘entire’ $40m BOB issue
Bank of the Bahamas’ 3,000 minority shareholders have demonstrated their “complete lack of confidence” in the bank after forcing the Government to pick up its “entire” $40 million rights offering.
Pensioners left with 30% in City Markets HQ sale
* Claim trustees ‘not acting in our best interest’ * Trustees retain 27% of $3m sale to AML Foods * And lawyer paid almost one-third of proceeds
City Markets pensioners have been “kept in the dark” over the $3 million sale of the plan’s main asset, with just 30 per cent of the proceeds seemingly left for their benefit.
IDB TO BAHAMAS: RUN 2.5% PRIMARY SURPLUS
By NEIL HARTNELL Tribune Business Editor The Bahamas was yesterday warned to "pick up the pace" of fiscal reform, the Inter-American Development Bank's (IDB) top Caribbean economist saying this country needed to achieve primary Budget surpluses equivalen
NO 'OPEN DOORS' FOR $8BN-$10BN INDUSTRY
By NEIL HARTNELL Tribune Business Editor A potential $8-$10 billion industry lies beneath Bahamian waters if its development is handled correctly, a local archaeological salvage expert yesterday warning against an 'Open Doors' policy that would allow for
NO 'OPEN DOORS' FOR $8BN-$10BN INDUSTRY
By NEIL HARTNELL Tribune Business Editor A potential $8-$10 billion industry lies beneath Bahamian waters if its development is handled correctly, a local archaeological salvage expert yesterday warning against an 'Open Doors' policy that would allow for
'Level playing field' urged over Freeport bonded good reform
By NEIL HARTNELL Tribune Business Editor A leading wholesaler yesterday urged that any reforms to Freeport's 'bonded goods' economy create a "level playing field", and not place his firm and others at "a competitive disadvantage" by sucking money out of
SPEED WEEK 'CAN BECOME LIKE MONACO'
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week Revival organisers are examining whether to create a permanent race track in the Arawak Cay area, the minister of tourism telling Tribune Business that this nation could effectively match Monaco
SPEED WEEK 'CAN BECOME LIKE MONACO'
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week Revival organisers are examining whether to create a permanent race track in the Arawak Cay area, the minister of tourism telling Tribune Business that this nation could effectively match Monaco
SPEED WEEK 'CAN BECOME LIKE MONACO'
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week Revival organisers are examining whether to create a permanent race track in the Arawak Cay area, the minister of tourism telling Tribune Business that this nation could effectively match Monaco
SPEED WEEK 'CAN BECOME LIKE MONACO'
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week Revival organisers are examining whether to create a permanent race track in the Arawak Cay area, the minister of tourism telling Tribune Business that this nation could effectively match Monaco
SPEED WEEK 'CAN BECOME LIKE MONACO'
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week Revival organisers are examining whether to create a permanent race track in the Arawak Cay area, the minister of tourism telling Tribune Business that this nation could effectively match Monaco
SPEED WEEK 'CAN BECOME LIKE MONACO'
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week Revival organisers are examining whether to create a permanent race track in the Arawak Cay area, the minister of tourism telling Tribune Business that this nation could effectively match Monaco
BEC manager-elect slams 'fraud by hindsight' claim
The Bahamas Electricity Corporation's (BEC) prospective manager has dismissed as "fraud by hindsight" claims that it artificially inflated its stock price prior to a one-day wipe-out that erased $250 million in shareholder value.
Income-type tax ‘likely inevitable’, warns ex-minister
A FORMER financial services minister believes it is “probably inevitable” that the Bahamas will have to introduce some form of low-rate income tax, warning: “We’re not in the clear yet.”
