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BEC manager wins class action battle

The Bahamas Electricity Corporation’s (BEC) prospective manager has received a major boost after a US court dismissed a ‘class action’ lawsuit against it, finding that aggrieved investors “failed to adequately” prove their share price manipulation claims.

Public governance key to financial sector changes

A former Ministry of Finance legal adviser yesterday said public governance is vital to ensuring the right environment exists for financial institutions to thrive.

Broker earned $14.5m in ‘ill-gotten’ proceeds

A Bahamian broker/dealer and its principal allegedly earned nearly $14.5 million in “ill-gotten gains” from breaching US securities laws, regulators alleged in court filings this week.

Prime Minister tells foreign investors ‘the time is now’

PRIME Minister Perry Christie insisted yesterday that the time is now for global investors to consider the Caribbean region, implying that regional economies have shown resilience amidst global trends.

Store owner says social services card has cost him $60,000 in business

A DISGRUNTLED department store owner yesterday accused the government of “discrimination” for allegedly excluding his store from the list of shops to be recognised by the new Social Services pre-paid debit card.

BOB losses slash NIB income 66%

The National Insurance Board (NIB) suffered a two-thirds cut in total comprehensive income for 2014, due almost entirely to its share of Bank of the Bahamas’ near $69 million net loss.

Protestors say businesses are suffering - with no room for a power rate hike

STANDING in front of the closed Butler’s Food World, members of the Coalition of Concerned Citizens said that businesses continue to fall prey to high electricity rates and are opposing any further rate increase on Grand Bahama.

Dentistry in a stronger Bahamas

I like the “Stronger Bahamas” campaign. The slogan itself suggests that wherever we are now, we are seeking to be in a better and more optimum place. That has a strong appeal in my opinion.

PETER YOUNG: Rising tide of humanity borders on chaos in Europe

The harrowing images of desperate refugees highlight the immigration crisis facing the European Union. Peter Young looks at the problem and its implications for Britain

Bank of Bahamas select committee ‘a wonderful idea’

The Opposition’s deputy leader yesterday said it would be “a wonderful idea” for a bi-partisan House of Assembly select committee to probe Bank of the Bahamas’ ongoing woes, amid suggestions that politically-connected ‘bad’ loans had not been removed from its balance sheet.

BOB debtors revealed as Senate president denies law firm hired by govt

SENATE President Sharon Wilson yesterday “categorically” denied that her law firm was employed by the government as registration documents revealing the identities of the 13 ‘bad’ borrowers who sank the Bank of the Bahamas (BOB) and caused its $100m taxpayer “bail out” emerged.

13 ‘bad’ borrowers who sank BOB are revealed

The identities of the 13 ‘bad’ borrowers who sank Bank of the Bahamas (BOB), and caused its $100 million taxpayer ‘bail out’, can be revealed by Tribune Business today.

CLUBS AND SOCIETIES 09042015

Back to School Show. - On Saturday, November 5, a Back To School Trade Show will be held from 10am to 7pm at the Activity Centre and grounds of Holy Cross Church, Highbury Park.

PM slams S&P for not facing growth ‘reality’

The Prime Minister yesterday slammed Standard & Poor’s (S&P) decision to downgrade the Bahamas’ sovereign credit rating, arguing that the move “flies in the face” of its own analysis.

College football season kicks off today

EACH week, the organising committee of the Popeyes Bahamas Bowl will update college football fans on both conferences which will field teams to the second edition of the bowl, hosted December 24.

Moody’s: Debt’s ‘peaked’ at 66%

Baha Mar “doesn’t take away” from the Government outperforming its key revenue and fiscal targets, a credit rating agency yesterday disclosing that it was impressed by the more than three percentage point cut in the 2014-2015 fiscal deficit.

‘Majority’ of toxic BoB loans ‘high end homes’

Bahamas Resolve’s chairman yesterday revealed that “the majority” of bad loans transferred from Bank of the Bahamas related to “high-end homes” and condominiums, rather than commercial credit as initially thought.

Charlton 27th overall in the 100m hurdles, Brown 34th

BEIJING, China — In contrasting results, national champion Adanaca Brown and national record holder Devynne Charlton made their global debuts in the women’s 100 metre hurdles at the 15th IAAF World Championships.

Private sector to ‘up the ante’ on fiscal governance

The private sector yesterday pledged to “up the ante” on fiscal responsibility via the October launch of a renewed public relations campaign, after the Government failed to meet its own summer target for publishing a policy paper on the issue.

Credit rating downgraded: Baha Mar row leads to cut by S&P, but investment steady

Standard & Poor’s (S&P) last night made good on its threat to downgrade the Bahamas’ sovereign creditworthiness, warning of “depressed growth” due to a combination of the Baha Mar dispute and long-term structural weaknesses in the economy.

The Tribune

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