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Broker ‘in peril’ if it meets US demands

A Bahamian broker/dealer will “act at its peril” should it comply with US federal regulators’ demands to produce thousands of documents relevant to their ongoing New York legal battle.

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RoyalFidelity predicts ‘double digit millions’ for new fund

RoyalFidelity believes its latest mutual fund will attract “double digit millions” from Bahamian investors through its promise to pay them a 4 per cent annual dividend.

FINCO’s $22m ‘warning’ affirms mortgage crisis

FINCO’s $22 million provision warning was yesterday seen as a further sign that the Bahamas’ mortgage crisis is “deteriorating”, a leading businessman suggesting its announcement “may not be the end” of the sector’s woes.

Bahamas urged to refine its own oil

By NATARIO McKENZIE

Bahamas 23rd as captive domicile

The Bahamas Financial Services Board (BFSB) has hosted a half-day Insurance Industry briefing, in collaboration with the Insurance Commission, the Ministry of Financial Services and the Insurance Institute of the Bahamas.

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Pregnant women claim they were beaten by Defence Force officers

TWO pregnant Bahamian women complained they were dragged and beaten by officials during an immigration raid weeks before the enforcement of the government’s new immigration policy.

Breezes attorney: Baha Mar’s approach ‘simply unheard of’

An attorney for SuperClubs Breezes says he has “never experienced a more blatant trespass” in three decades of conveyancing practice than that allegedly seen in the hotel’s ‘land swap’ battle with Baha Mar.

The need to regulate private security firms

The Bahamas has in recent years seen an explosion of growth in the private security sector. This growth is largely due to the increasing crime rates, expansion of various industries that require basic security controls to operate, and the increase in personal wealth for many Bahamian business persons

Galanis slams ‘ludicrous’ $4.6m loan default claim

A former PLP MP and Senator last night slammed a US financier’s bid to obtain a $4.605 million default judgment against him as “ludicrous”, and promised a “serious court battle” over the issue.

Bank of Bahamas in further $6.5m loss

Bank of the Bahamas appears to have incurred a further $6.511 million net loss for the first quarter of its 2015 financial year, its top executive describing the past 12 months as “the most challenging for me personally”.

Best Buddy scheme helps disabled to graduate at Baha Mar

FIVE students with developmental or intellectual disabilities have been offered jobs at Cable Beach mega-resort Baha Mar after graduating from the resort’s Leadership Development Institute yesterday.

Pre-paid Visa cards for social services 'revolutionary'

THE introduction of pre-paid Visa cards for persons eligible for Social Service benefits was described as “revolutionary” by Social Services Minister Melanie Griffin.

Insurers seeking VAT input credit clarity

The Bahamian insurance industry yesterday urged the Government to clarify which inputs it will be allowed to claim Value-Added Tax (VAT) credits on during the 2015 first half, a leading carrier saying this “makes all the difference in the world”.

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President Obama's immigration address

The issue of immigration has been making front page news recently both here in the Bahamas and in the United States. Last Thursday, President Barack Obama took the debate to a new level, when he introduced controversial new policies for the US. Here is his address in full:

Near $200m energy saving from natural gas switch

The Bahamas would realise between $172-$186 million per annum in “net savings benefits” if it switched to natural gas as its main energy generation source, with this nation’s electricity system costs the highest in the Caribbean.

Four web shops closed before Bill hit House

At least four web shop operators exited the industry before the new Gaming Bill ever went to Parliament, a prominent attorney has revealed, while confirming that Percy’s Island Game was “definitely going ahead” to obtain a license.

Briefly

THE Tenement Museum, on the Lower East Side of Manhattan, is one of my favourite places in New York City. It’s a Civil War-vintage building that housed successive waves of immigrants, and a number of apartments have been restored to look exactly as they did in various eras, from the 1860s to the 1930s (when the building was declared unfit for occupancy). When you tour the museum, you come away with a powerful sense of immigration as a human experience, which — despite plenty of bad times, despite a cultural climate in which Jews, Italians, and others were often portrayed as racially inferior — was overwhelmingly positive.

Immigration policy is unconstitutional

EDITOR, The Tribune.

Development Bank: Less than 30% of loans 'good'

Less than 30 per cent of the Bahamas Development Bank’s (BDB) outstanding loan portfolio was ‘performing’ at year-end 2013, with the taxpayer underwriting its operations via multi-million dollar annual subsidies.

Baptiste hits out at 'compromise'

HAITIAN rights activist Jetta Baptiste yesterday said the United Association of Haitians and Bahamians has “compromised” with the government on its new immigration policies.