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BANK IS FACING 50,000 ACCOUNT PROBE ON FATCA
By NEIL HARTNELL Tribune Business Editor Commonwealth Bank yesterday said it was facing the prospect of 'drilling down' into an estimated 50,000 client accounts to determine if there was any US beneficial ownership connection, while telling Tribune Busin
INSOLVENT BANK'S CREDITORS TO GAIN $0.07 ON DOLLAR
By NEIL HARTNELL Tribune Business Editor Creditors of an insolvent Bahamian offshore bank are in line to recover less than seven cents ($0.07) of every dollar owed to them after the Supreme Court refused to give the liquidator leave to appeal a ruling, a
Gov’t ‘ill-prepared’ on Bill amendments
An FNM MP yesterday slammed the Government’s failure to provide the Opposition with the 12 amendments to the Petroleum Bill before yesterday’s debate, saying: “It’s ridiculous the Government was so ill-prepared”.
Air cargo pull-out threat result of ‘ill thought-out policy’
The threat of a Bahamas boycott by Florida-based air cargo operators was yesterday branded as “the unintended consequences of ill-thought out policy” by the Opposition’s deputy leader. K P Turnquest warned that as an import-dependent economy, reliant on international transportation links, the Bahamian economy could only suffer if freight companies reduced or eliminated services to this nation.
Sky Bahamas chiefs deny share allegation
SKY Bahamas' principals yesterday told Tribune Business they completely "deny" allegations by a former executive of the airline that they conspired to squeeze him out of his equity stake in the company, and recorded incorrect shareholdings in the Companies Registry.
BCA chief: 'Many smaller builders' oppose regulation
BCA chief: 'Many smaller builders' oppose regulation By NEIL HARTNELL Tribune Business Editor Many smaller Bahamian contractors do not support the Bahamian Contractors Association (BCA) or its push for legislation to regulate the industry, the latter's
BCA chief: 'Many smaller builders' oppose regulation
BCA chief: 'Many smaller builders' oppose regulation By NEIL HARTNELL Tribune Business Editor Many smaller Bahamian contractors do not support the Bahamian Contractors Association (BCA) or its push for legislation to regulate the industry, the latter's
$10M PORT IPO SETS A BAHAMIAN RECORD
By NEIL HARTNELL Tribune Business Editor The Arawak Cay Port Development (APD) offering has set a Bahamian record by becoming the "most widely subscribed for IPO in the history of the Bahamian capital markets", Tribune Business was told yesterday, one of
IDB: Bahamas needs $560m 'adjustment'
The Bahamas needs a $560 million "adjustment" at present growth rates just to cut its debt-to-GDP ratio to 60 per cent by 2021, amid warnings this nation now lies on the fiscal "dark side".
GB Power seeks ‘unique’ energy storage solution
Grand Bahama Power Company is planning to launch a tender for energy storage technology that is “maybe unique to the world”, in a move that could reduce operating time for at least two generation units.
PM: Atlantis makes granting Chinese demands impossible
The Prime Minister yesterday said Atlantis’s ‘most favoured investor’ status made it impossible for him to grant the type of incentives the Chinese were said to be demanding over Baha Mar.
74% 'PERSONAL' CREDIT IMPEDES DEVELOPMENT
By NEIL HARTNELL Tribune Business Editor The Bahamas' development is being "seriously impacted" because its citizens are unable to invest in key productive areas, such as energy and transportation, due to almost 74 per cent of credit going on 'personal'
MSC cruise port: No lease agreement yet
No agreement has yet been reached to transfer the lease of Ocean Cay to Mediterranean Shipping Company (MSC) for its private cruise port, with the current holder saying of the project: "It won't be done overnight."
Bahamian insurers eye TCI CLICO deal
Two Bahamian insurance companies are in negotiations to acquire CLICO’s Turks & Caicos business, Tribune Business can reveal, with the deadline for the cancellation of the insolvent insurer’s local medical policies just two weeks away.
BTC profits slump 26.4%
The Bahamas Telecommunications Company (BTC) suffered a 26.4 per cent profits slump for the year to end-March 2015, as its revenues and staffing levels came under pressure in the run-up to mobile liberalisation.
Bahamas sees 'phenomenal' 11% airlift rise
By NEIL HARTNELL Tribune Business Editor The Bahamas saw a "phenomenal" 11 per cent increase in airlift capacity year-over-year for February 2012, the minister of tourism and aviation yesterday saying this trend reflected "growing visitor demand" and was
BCA chief: 'Many smaller builders' oppose regulation
BCA chief: 'Many smaller builders' oppose regulation By NEIL HARTNELL Tribune Business Editor Many smaller Bahamian contractors do not support the Bahamian Contractors Association (BCA) or its push for legislation to regulate the industry, the latter's
Pension providers enjoy ‘significant’ 100% inquiry rise
Pension plan administrators yesterday said they had seen a 100 per cent increase in employer inquiries over the past 12 months, describing the surge as “significant” given existing low participation levels.
Private sector targets NHI concerns Christmas present
The Bahamian private sector is hoping to present the Government with a consolidated list of its National Health Insurance (NHI) concerns before Christmas, amid fears that the scheme’s cost estimates “might not be the most ideal”.
AG’s Office: We bungled Blackbeard’s Cay appeal
The Attorney General’s Office has admitted that the Government’s appeal over the $8 million Blackbeard’s Cay project was thrown out because it was asleep on the job.
