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Bahamas provider: 'Timing 100% right' for Swiss office
A BAHAMAS-based financial services provider that supervises $1.5 billion in client assets yesterday said "the timing is 100 per cent right" to open its new Switzerland office, and urged other local institutions to "seriously consider" expanding into their target markets.
Adviser: Gov't must 'move' to run recurrent surpluses
The 128 per cent increase in the Bahamas' national debt over the past decade means the Government must "address without delay" its ever-growing fiscal deficit
Royal Caribbean scouts Rum Cay
Royal Caribbean’s top executive has confirmed the cruise giant sent a team to scout a potential new destination on Rum Cay, saying: “You can never have enough great product.”
‘I told you so’: $100m Lucayan sale collapses
The Grand Lucayan’s former chairman last night said “I told you so” after the Government admitted the resort’s $100m sale has collapsed and it is now seeking an alternative purchaser.
NPBA opening night: Rockets and Giants victorious
ON opening night when they didn’t receive their New Providence Basketball Association men’s championship rings, the Discount Distributors Rockets took their frustration out on the runners-up Commonwealth Bank Giants.
Privatisation can 'hold Bahamas to ransom'
A leading activist yesterday urged the Government not to privatise the energy and water industries on the grounds that foreign buyers could "hold the Bahamas to ransom", adding that this nation had "not begun to s
'No doubt' over Fidelity revival: 144% profit rise
Fidelity Bank (Bahamas) chief executive yesterday said "there is no doubt we have turned the corner" after its 2011 total comprehensive income increased by 144 p
$500M REVENUE RISE NO FISCAL GAP BRIDGE
By NEIL HARTNELL Tribune Business Editor The Government's annual fiscal deficit averaged more than $170 million during the 2002-2008 'economic boom' years despite an almost $500 million rise in revenues over that period, showing that reining in out-of-co
50% fear or pay bribes for building and import permits
Fifty percent of Bahamian companies seeking construction and import-related permits say they have either been asked, or expect, to pay a bribe to obtain the required approvals, it has been revealed.
Albany chief in 'devastating and self-inflicted humiliation'
Albany's principal investor has admitted that pleading guilty to securities fraud is "a devastating and self-inflicted humiliation I will have to live with for the rest of my days".
ArawakX ‘good undeniable’ yet KC confident on full winding-up
ArawakX’s president says “nobody can deny the good” it achieved as Securities Commission attorneys hailed the appointment of provisional liquidators as vital to “protecting the capital markets”.
WORLD VIEW: CARICOM at 50: there is still hope
JULY 4, 2023 marks the 50th anniversary of the signing of the Treaty of Chaguaramas, the foundational document that brought the Caribbean Community and Common Market (CARICOM) into existence. With high hopes and lofty ambitions, the heads of government of the four largest independent Caribbean countries at the time embarked on a journey towards regional integration. They were later joined, to varying degrees of commitment, by 10 other countries.
‘Nothing to lose’ on 5% corporate tax
A Bahamian financial services provider yesterday argued that this nation should smash “conformity” by adopting a low-rate 5 percent corporate income tax, asserting: “We have nothing to lose.”
Albany developer’s Bahamas return after spared jail time
ALBANY’S principal investor was given permission to return to The Bahamas as early as yesterday after being spared jail time following his previous guilty plea to securities fraud.
FNM claims govt broke law on finance
THE Opposition’s finance spokesman yesterday challenged whether the Government may have violated public finance laws by drawing on $133m from its “sinking funds” to pay debts coming due.
Doctors Hospital targets $10m acquisition boost
Doctors Hospital yesterday predicted annual revenues will increase by $10m through its acquisition of The Kidney Centre in a deal that will make its workforce more than 1,000-strong.
Price controls ‘out window’ with WTO
The Bahamas Motor Dealers Association’s (BMDA) president yesterday expressed hope that WTO membership will result in price controls “going out the window” to be scrapped.
Broker’s rescue questioned over $1.8m deficiency
The Securities Commission is questioning whether last-ditch efforts to rescue a Bahamian broker/dealer, which has admitted to misusing client monies, are “bona fide” given its $1.862 million solvency deficiency.
Bahamas tops Guyana 4-1 at CONCACAF beach soccer
The Bahamas men’s national team gave the home crowd of eager spectators the opener they were hoping for and set the tone for the remainder of Confederation of North, Central America and Caribbean Association Football (CONCACAF) Beach Soccer Championship.
Realtors ‘embrace’ demand for cryptocurrency purchases
Bahamian realtors yesterday revealed they are developing strategic alliances to “embrace” cryptocurrencies already being used as a means of payment for local property transactions.
