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National debt grows $137m
The Bahamas’ national debt increased by $136.5m during the 2018-2019 fiscal year’s first quarter, taking the total sum owed by this nation to around the $8bn mark. The Ministry of Finance’s “snapshot” report, its first effort at quarterly financial r
We deserve transparency over Exuma
OPEN LETTER TO THE BAHAMAS NATIONAL TRUST:
INSIGHT: A few words of advice to help a government off course
Over the past several months, a theme has emerged in public commentary suggesting that despite near universal high hopes following the landslide victory of May 10, 2017, the Minnis Administration has strayed badly off course and is haemorrhaging support on a daily basis.
'Buddy Buckets' season high 23 in win over the Grizzlies
Buddy Hield followed up Tuesday’s disappointing game with a season high in scoring and minutes played as a part of a new-look, fast-paced Sacramento Kings offence.Hield finished with 23 points on 10-20 shooting from the field, including 3-6 from thre
Ex-AG challenges beneficial owner registry proposal
A former attorney general yesterday challenged the Government’s plan to create a Beneficial Ownership Registry, arguing that it should instead simply expand the existing regulatory regime.John Delaney QC, principal at the Delaney Partners law firm, t
FINCO: Profits cut 35% with $125m bad loans
FINCO’s $125m bad loan pile resulted in a 35 percent cut to the mortgage lender’s profits for the nine months to end-July 2018, with little sign of improvement in key indicators.Management, in a statement to shareholders, blamed the more than $6.5m d
OECD's permanent residency targeting 'not really of concern'
The Deputy Prime Minister yesterday said the OECD’s targeting of the Bahamian economic permanent residency regime was “not really of concern” because it is not used for tax purposes.K Peter Turnquest, pictured, while agreeing it was “unfortunate” tha
Private sector must do more in OECD fight
The Clearing Banks Association’s (CBA) chairman has urged the private sector to play a greater role in preventing The Bahamas from being “blindsided” by the OECD and other initiatives.Gowon Bowe told Tribune Business that the financial services indus
INSIGHT: Climate change is coming and we have to prepare - now
A STARTLING new report says harmful effects of climate change will be experienced at a lower temperature than previously anticipated, all while the world runs out of time to do something about it.
Govt urged: 'Be decisive' in your OECD defence
The Government must “act more decisively” to defend The Bahamas from the OECD’s attack on its key investment product, which is “not positive no matter how you spin it”.Paul Moss, pictured, president of Dominion Management Services, told Tribune Busin
DNA: Go beyond 'semantics' in developing OECD counter
The Democratic National Alliance (DNA) yesterday urged the Government to go beyond the “semantics” of whether The Bahamas was “blacklisted” in the targeting of its economic permanent residency regime.Arinthia Komolafe, pictured, the party’s deputy le
OECD rattles its sabre on investor residency
The Bahamas’ major investment product was yesterday singled out for allegedly undermining the fight against global tax evasion in a move one realtor branded “a damn disgrace”.
INSIGHT: All we've got to do is think BIG and be BRAVE
Bahamians need a “come to Jesus moment” on national development. Those who advocate employment opportunities at more risk of destroying thousands in the future, amounts to a deal with the devil At the same time, environmentalists must understand that people have to live, and they can’t eat sand.
NAD's $125m debt refinance a 'win-win'
Nassau’s airport operator is exploring a $125-$130m debt refinancing that could produce “a win-win for everybody”, a Cabinet minister revealed yesterday.Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that the move was des
BNT: $10m costs make Albany-type deals imperative
The Bahamas National Trust (BNT) yesterday said the $10m annual operating costs for this nation’s national parks meant it had no choice but to seek private capital backing.
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”.
BOB gains $56.7m Treasury Bill boost
Troubled Bank of The Bahamas (BOB) has received a further $56.7m boost from the Government in the form of Treasury Bills, as it recorded its first full-year of profitability since 2012.The BISX-listed institution’s unaudited financial statements for
Bahamas 'STEPs' up with strong message
The Bahamas was well represented by both the Government and private sector at a major regional trust and estate planning conference held in Mexico City.The country’s delegation to the annual STEP (Society of Trust and Estate Practitioners) Latin Amer
Govt VAT clarity to unleash $1bn of development
More than $1bn in real estate projects may have been unleashed, and “a serious challenge to home ownership” removed, after the Government clarified that the sector can reclaim VAT “inputs”.Developers yesterday told Tribune Business they had been give
Web shops partner to fight gaming addiction
Bahamian web shops have teamed with the Sandilands Rehabilitation Centre and Public Hospitals Authority (PHA) to host a free all-day gambling addiction seminar at month’s end.The symposium is scheduled for the Church of God of Prophecy, Joe Farringto
