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Cable warily eyes $300m preference debt maturity

Cable Bahamas is warily eyeing the need to repay more than $300m in preference share debt over a five-year period from 2023 to 2027, its top executive said yesterday. Franklyn Butler, the BISX-listed communications provider’s president and chief exe

‘Buddy’ joins Kings in bubble

Chavano “Buddy” Hield cleared the initial COVID-19 protocol and joined the remainder of the Sacramento Kings in Orlando, Florida, for the NBA 2020 season restart.

Laying out the roadmap for economic resilience

The UK-based Centre for Local Economic Strategies (CLES) outlines ten indicators that can be used to determine whether an area, or country, is resilient. The first three of these are the strength of the commercial sector; strength of the public secto

'Opaque' dealings hit City Markets HQ sale

AML Foods is battling a series of “opaque” transactions as it seeks to uphold “the validity” of its $3m purchase of City Markets’ former headquarters building. The BISX-listed food retail and franchise group, in legal filings supporting its bid for

Dorian forces insurer into first-ever reserve release

A Bahamian insurer yesterday revealed it made the first-ever “catastrophe reserves” release in its 25-year history due to Hurricane Dorian’s $200m-plus claims.Timothy Ingraham, Summit Insurance’s president, told Tribune Business that the property and

Bahamas needs tax structure to match tourism

The Bahamas needs a tax structure that will attract the equivalent of 7m tourists to its financial services industry, a local banker argued yesterday. Gowon Bowe, Fidelity Bank (Bahamas) chief financial officer, told a webinar organised by the Chart

Insurers warned: Do not keep 'eggs in one basket'

A top insurer says Bahamian underwriters will find it increasingly difficult to survive “long-term” unless they diversify into other territories.Patrick Ward, Bahamas First’s president and chief executive, told Tribune Business in a recent interview

Health insurer's Bahamas exit to be 'orderly'

Regulators yesterday said they expect a “very orderly wind-down” of a Bahamas-based health insurer as it readies to exit the market by December 2021. Michele Fields, the Insurance Commission’s superintendent, confirmed to Tribune Business that Gener

Doctors Hospital cuts 43 staff over 'blunt fiscal reality'

Doctors Hospital has revealed the termination of 43 workers after aggressive cost-cutting measures proved insufficient to offset “diminished patient activity”.The BISX-listed healthcare provider, in a statement issued at the weekend, warned that it w

More Bahamian ownership will deliver optimum returns

Ihave covered a lot in the past three years, ranging from development solutions for each inhabited Family Island to decentralisation of the Bahamian economy, advancing the National Development Plan (NDP) and even the COVID-19 pandemic’s impact on the

Govt allocates $48m to COVID jobless benefits

A Ministry of Finance official yesterday confirmed the government has allocated $48m towards various COVID-19 jobless benefit initiatives in the 2020-2021 budget. Marlon Johnson, acting financial secretary, said a portion of this sum will finance a

Freeport’s ‘open arms’ for Andros trade investor

A prominent QC yesterday said Freeport “would welcome with open arms” the billionaire philanthropist whose proposed North Andros free-trade zone was rejected by the Prime Minister at the weekend.

$6m investor injection 'biggest in over a year'

A Bahamian investment bank yesterday revealed that investors injected “the biggest monthly sum that we’ve seen for over a year” into its mutual funds immediately upon the easing of COVID-19 restrictions. Michael Anderson, RoyalFidelity Merchant Bank

Munnings to join top-tier Portugese Basketball League

TRAVIS Munnings was the latest Bahamian senior men’s national team member to capitalise on his free agency when he signed with a new club in a new country.

PM pledges no approval for Andros 'non-starter'

The prime minister’s pledge that the government “will not grant” permission for a free trade zone in North Andros was yesterday hailed as “very encouraging” by the Bahamas National Trust’s (BNT) top executive. Eric Carey, the Trust’s executive direc

IAN FERGUSON: Ensuring productivity among remote staff

With the call being made for public servants and private sector employees to return to work, many workers are questioning whether a return to centralised work space is necessary. COVID-19 has certainly tested our capacity to engage in productive work

Hurricane Hole developer's new $352m project

Hurricane Hole developer’s has received initial approval for a $352.2m development on Matt Lowe’s Cay that promises a desperately-needed boost for Abaco’s Dorian-ravaged economy, it was revealed yesterday. Dr Hubert Minnis, in his contribution to th

Bahamas ‘obvious target’ for hackers

Attorneys yesterday warned the latest Registrar General’s Department hack shows the government “cannot get away” with any IT system deficiencies, adding: “We’re an obvious target.”

HACKERS STRIKE AT GOVT SYSTEM: Russians and Bulgarians behind cyber raid on key banking and personal data

The Government is "betwixt and between" over the Registrar General's Department's cyber security woes after being forced to again shut down its online database following fresh hacking attempts.

'Full transparency' urged on North Andros projects

The North Andros Chamber of Commerce’s president is calling for “full transparency” over the three investment projects targeting the area while warning residents against “rushing to judgment” over their merits. Darin Bethell, in a statement sent to

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