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My plan to save Bank of Bahamas

Drastic action is still requured at Bank of the Bahamas. In March 2012, I wrote an article exposing the fact that the Bahamas was experiencing a housing crisis. In the same article, I predicted a ‘small cap’ retail banking crisis, and this is exactly what the Bahamas is experiencing at this very moment. The purpose of this article is to outline why this bank must not be allowed to fail, and what exactly needs to be done to avoid failure.

'Don't lose sight' of $650m waste plant's benefits

Bahamians were yesterday urged “not to lose sight” of the benefits Stellar Energy’s proposed waste-to-energy plant could deliver for them, a senior company executive saying the project presented this nation with “a golden opportunity” to lead the Caribbean.

‘Don’t price ourselves out’ on corporate income tax

Bahamian realtors yesterday said data showing they enjoy near-40 percent gross profit margins is “skewed very far off” as they urged the Government “to be careful we don’t price ourselves out of the market” over corporate income tax.

BISX fund eyeing up to $10m warehouse raise

A BISX-listed real estate yesterday said it plans to raise up to $10m within the next six months to finance development of its Carmichael Road warehouse after profits near-doubled during the 2023 first-half.

Tax and poverty in the Bahamas

TOUGH CALL: THE current debate over more and different taxes to pay for an expanding public sector has focused fresh attention on our economy and standard of living.

The illegal immigration issue

AS THE summer heat bears down upon us, so it seems does the unbearable influx of illegal immigrants, for as to quote a Bahamian song, “they coming by boat, they coming by plane, some coming in wheel chair and walking with cane.” Of course, for those familiar with the song, they aren’t coming to “see Theresa, the Bahamian Mona Lisa!”

‘FTX forced sale will not undermine’ nation plans

The seemingly-forced sale of The Bahamas’ flagship digital assets investor will not undermine the country’s ambitions to become a major “hub” in this space, a prominent banker argued yesterday.

DIANE PHILLIPS: Now why didn't I think of that?

It’s official. As of this week, Jeff Bezos, age 54, is the richest man in the world and the first on Forbes magazine’s richest people list whose net worth tops $100bn. For anyone who has spent the last 20 years under a rock studying whatever lives u

Bahamians urged: Abandon foreign investor 'xenophobia'

Bahamians must abandon their “xenophobic and schizophrenic” attitude towards foreign investors if the economy is to survive the devastation inflicted by COVID-19, a prominent doctor warned yesterday.Dr Johnathan Rodgers, pictured, the “eye doctor” an

Arawak port targets 10-20% profits rise

The Nassau Container Port’s operator yesterday said its 2020 profits could beat the prior year by as much as 10-20 percent following a stronger-than-anticipated first half. Dion Bethell, Arawak Port Development Company’s (APD) president and chief fi

Don't leave Bahamians with oil drilling 'peanuts'

The Bahamian people must get more than the "peanuts and crumbs" if the Government ultimately decides to approve commercial oil exploration, the National Trust's top executive urged yesterday.

WORLD CUP: Holders Germany out after shock defeat

(Mirror.co.uk) Reigning champions Germany are OUT of the World Cup after a shock defeat by South Korea.

TOUGH CALL: Power problems mask lack of renewable energy progress

According to the latest report from the International Energy Agency, which tracks these things, renewables and natural gas (much cleaner than other fossil fuels) are leading in the race to meet energy demand growth.

Deltec pleaded Bahamas law breach, poverty over FTX evidence demands

Deltec Bank & Trust pleaded poverty and violations of Bahamian law in a failed bid to block aggrieved former FTX investors from forcing it to provide evidence.

Gov’t holds firm as $259m deficit near-double target

The Government has not adjusted any of its 2023-2024 fiscal targets despite revealing yesterday that its $258.7m half-year deficit was almost double the full 12-month goal.

BISX-listed firm’s affiliate in $75.5m ‘discrepancy’

There is a $75.5 million discrepancy over the sum allegedly held by a BISX-listed firm’s broker/dealer affiliate for a claimed multinational fraud, Tribune Business can reveal, with regulators having seized computers and a server from its downtown Nassau offices.

IMF: Debt cut 5% from peak by 2017 if Gov't delivers

The Bahamas would slash its debt-to-GDP ratio by five percentage points within three years of hitting a 60 per cent peak, the International Monetary Fund (IMF) believes, if the Government can hit its fiscal consolidation targets.

$600m plant's principal: No waste tender needed

The principal behind a controversial $600 million waste-to-energy plant proposal has told Tribune Business there is “no need” to put this project out to competitive public tendering, arguing that this was already taken care of by the BEC reform process.

Transparency boost: End to BEC ‘public service mentality’

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman yesterday expressed hope that the elimination of “the public service mentality” will ensure the ‘new BEC’ hits its legal financial reporting targets.

Bahamas targets ‘Singapore of Latin America’

The Bahamian financial services industry is targeting reforms to existing products that will enable it to penetrate new markets, with the goal of becoming the “Singapore for Latin America”.

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