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EDITORIAL: Fiscal Responsibility Act lacks teeth

Like democratic elections and freedom of information, fiscal responsibility is central to good governance and to any nation’s sustainability. Not only does fiscal responsibility reflect a commitment by a government to do what it asks its citizens to do – budget wisely and be prepared to be held accountable if it does not, it positions that government to maintain or move toward macro-economic stability.

Doctors targets expansion with $11.9m RBC financing

Doctors Hospital has obtained two Royal Bank of Canada (RBC) loan facilities worth a collective $11.858m to fund expansion plans in “a rebounding Bahamian economy”.Joseph Krukowski, who is stepping down after 14 years as the healthcare provider’s cha

Bahamas 'cannot hold back tide' on Owner Registry

The Bahamas “cannot hold back the tide” on a beneficial ownership registry, the deputy prime minister arguing: “We must set the standard for ourselves and others.”K P Turnquest, pictured, explained that while the Government was listening to financial

Baha Mar chief: Atlantis 'cannibalise' fear unseen

Baha Mar’s president yesterday said the feared market “cannibalisation” with Atlantis has yet to occur, with Nassau enjoying record arrivals and airlines seeing 80 per cent “load factors”.Graeme Davis reiterated to Tribune Business that the hotel ind

Ownership Registry could 'destabilise' financial services

An ex-Cabinet minister has warned that creating a central Beneficial Ownership Registry could “destabilise” the Bahamian financial services industry and should be shelved “for now”.Ryan Pinder, a former financial services minister, told a Bahamas Fin

IMF: 10 years to hit long-term debt goal

The Bahamas will take ten years to hit its long-term debt target, the IMF warned yesterday, as it again blasted the Christie administration’s “lax spending control” pre-election.The International Monetary Fund (IMF), in its latest Article IV report o

New fiscal discipline is 'no magic bullet'

The Deputy Prime Minister is warning that today’s long-awaited release of Fiscal Responsibility legislation is no “magic bullet” for The Bahamas’ deep-rooted financial woes.Confirming that the Government will unveil its signature fiscal reform within

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Cartwright and American partner in doubles final

THEY both got knocked out in the first round in singles, but Kerrie Cartwright and her American doubles partner Kariann Pierre-Louis will have a chance to play for their second doubles title on the 2018 International Tennis Federation Women’s Circuit.

WTO's 'red lines' impossible to set

Business cannot advise the Government on where to set the WTO “red lines” because of an information vacuum, the Chamber of Commerce’s chairman warned yesterday.

Bahamas targets seat on global telecom body

Campaigning for The Bahamas to obtain on the International Telecommunications Council (ITU) is among the sector regulator’s priority projects for 2018.The Utilities Regulation and Competition Authority (URCA), in its recently-released 2017 annual rep

WTO's 'red lines' impossible to set

Business cannot advise the Government on where to set the WTO “red lines” because of an information vacuum, the Chamber of Commerce’s chairman warned yesterday.Michael Maura, pictured, told Tribune Business that the private sector was unable to deter

BTC owner predicting 'light at end of tunnel'

The Bahamas Telecommunications Company’s (BTC) ultimate owner yesterday said there was “light at the end of the tunnel” in its battle to fight off Aliv’s competitive threat.Balan Nair, Liberty Latin America’s chief executive, told a conference call i

Web shops: Up to 50,000 gambling

Web shops yesterday estimated that between 30,000-50,000 Bahamians engage in gambling, as the sector formally launched its anti-addiction initiative.The Bahamas Gaming Operators Association’s (BGOA) Responsible Gaming and Addiction Prevention Program

Gibson the millionaire

THE news of the Free National Movement (FNM) administration’s agreement to fund $10,000 towards former Labour and National Insurance Minister Shane Gibson’s medical bills is not sitting well with many rank-and-file FNM supporters, some of whom have demonstrated unconditional loyalty to the governing party for years.

BTC profits slump 75% amid 2-year owner wait

The Bahamas Telecommunications Company’s (BTC) 2017 profits plunged by around 75 per cent amid its owner’s continuing two-year wait for the Government to approve its takeover.

Royal Fidelity National Amateur Golf Championship all set

THE Bahamas Golf Federation’s (BGF) new president, Lynford Miller, confirms that Royal Fidelity has once again agreed to be the title sponsor of the National Amateur Championship. This prestigious event is all set for May 17-20. The first two rounds

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Airport's $14m loss 'not major concern'

Nassau’s airport operator says its latest $14.153m net loss, and $56.5m total deficit, is “not a significant concern” as it continues to meet all payments on its $500m-plus debt.The Nassau Airport Development Company (NAD), in e-mailed replies to Tri

Sebas: 'I smell a rat' - Threatens legal action over $50m project stall

Sebas Bastian’s property development arm is threatening to sue the Ministry of Works over “discriminatory and biased treatment” of its $50m corporate office project.The Island Luck chief’s Veridian Development Group on Wednesday issued the Ministry,

'Huge step' for oil exploration 'game changer'

An oil exploration “game changer” for the Bahamas took “a huge step forward” yesterday with the signing of a three-month exclusivity deal on a drilling joint venture.Simon Potter, the Bahamas Petroleum Company’s (BPC) chief executive, told Tribune Bu

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Fishermen: Dredging is hurting our business

DREDGING taking place near Montagu Beach is a hindrance, affecting water quality, marine life, and their businesses, local fishermen have said. When asked how the work has affected business at the Montagu fish ramp, Donna Rolle, who works at a conch