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Bahamas to grow 'in low 2% range' in '24
Improvements to workforce productivity and the ease of doing business are critical to boosting economic output with Bahamian GDP forecast to expand in "the low 2 percent range" in 2024.
Scotia profits up 266% through ‘bad loan’ sale
Scotiabank (Bahamas) yesterday said it had gained $7 million from the sale of non-performing mortgage loans, which helped to drive a 266 per cent increase in 2016 profits.
Govt puts Bahamas ‘at tremendous risk’
The FNM’s deputy leader yesterday accused the Government of treating the Public Treasury as “a bottomless pit” through its pre-election spending commitments, warning that it had placed the Bahamas “at tremendous risk”.
Bank beats $25m loan growth goal with ease
Fidelity Bank (Bahamas) yesterday said it is on course to increase full-year profits by ten percent after beating its $25m loan book growth target in just nine months.
BOB: Renewed confidence will ‘wane’ if no plan
Bank of The Bahamas was yesterday urged to release a detailed revival strategy at its upcoming shareholders’ meeting otherwise confidence created by its return to profitability will “wane”.
EX-DPM: Collect all taxes ‘without fear or favour’
An ex-deputy prime minister yesterday urged the government to develop a US Internal Revenue Service-style mindset to collect taxes “without fear or favour” while slamming proposed new compliance measures.
‘We’ll seize Sarkis’ damages if he wins’
Baha Mar’s receivers have threatened to claim any damages awarded to Sarkis Izmirlian if he wins his battle with China Construction America (CCA) so they can repay $1bn to the project’s lender.
'Don't cry over spilt milk': Exit of Julius Baer
The Bahamas must “not cry over spilt milk” due to Julius Baer’s imminent exit, a former attorney general warned yesterday, and should instead focus on remaining “relevant” as a financial centre. John Delaney, principal of the Delaney Partners law fi
Cable chief places 'undivided attention' on customer service
Cable Bahamas top executive says customer service and content quality will have his “undivided attention” for the next one-two years following completion of the firm’s $301.5m US exit.Franklyn Butler, pictured, the BISX-listed communications provider
Aliv chief 'confident' BTC sharing woes 'now behind us'
ALIV’s top executive yesterday said he was “confident” obstacles to sharing infrastructure with its main rival had been overcome, with the mobile upstart poised to “conquer” its targets.Damian Blackburn told Tribune Business that many co-location and
Second Baha Mar SPV asset transfer
Baha Mar’s receivers and liquidators have left “no stone unturned” in their hunt for assets, quietly transferring a second tranche to the project’s secured creditor in December 2016.
Exchange control changes to Govt during February
The Government will receive proposals for further exchange control liberalisation targeted at the private sector next month, in a bid to boost an “underperforming” economy that contributed to the Bahamas’ ‘junk’ downgrade.
Goombay Splash Bowl: Sydney Clarke ousted
THE journey through the Goombay Splash Bowl came to an end in the girls’ quarter-finals for Sydney Clarke, but it continues in the final of the boys’ doubles for Jacobi Bain and his Canadian partner Ily Tiraspolsky today at the National Tennis Centre.
Bahamas-bound banker’s guilty plea to $1.2bn scam
A Bahamas-bound private banker has pled guilty to his role in a $1.2bn money laundering scheme that sparked an investigation by local financial services regulators.
Union's 'red flag' over CIBC buyer
The Bahamas Financial Services Union’s (BFSU) president yesterday voiced concerns about an early “red flag” that has been raised over CIBC FirstCaribbean’s proposed purchaser. Theresa Mortimer told Tribune Business that initial checks with Colombian
Ex-minister holds off on $6m BOB 'default'
A former Cabinet minister yesterday said he had given an undertaking to hold off on enforcing a $6m default judgment against Bank of The Bahamas until July 16. Damian Gomez, former minister of state for legal affairs under the former Christie govern
Nassau airport targets 1,448-acre expansion
The Lynden Pindling International Airport’s (LPIA) operator has obtained 1,448 acres from the government for future runway expansion after recording its first-ever annual profit at $7.755m.The Nassau Airport Development Company (NAD), in its 2019 ann
Central Bank says 'healthy growth' to resume from 2021
The Central Bank yesterday forecast that The Bahamas will “resume healthy economic growth” in 2021 following a potential Dorian-induced contraction next year as rebuilding gathers pace.The banking and monetary policy regulator, unveiling a much-chang
Renewables stunned over paying BPL fee
Renewable energy providers yesterday warned it was “imperative” that the government clarify its plan to make users pay the debt servicing fee for Bahamas Power & Light’s (BPL) mega $650m refinance.
Deltec creates ‘one of largest banks’ with Ansbacher deal
Deltec Bank & Trust last night said it will become “one of the largest international private banks in The Bahamas” with its acquisition of rival institution Ansbacher (Bahamas).
