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Exchange controls relaxation pressure ‘not unmanageable’
THE Central Bank yesterday said the latest exchange control relaxations will “not pose unmanageable pressures”, as it moved to ease the import burden for merchants.
Bahamas LPGA Classic officially open
The Pure Silk Bahamas LPGA Classic, now in its sixth year, has helped to solidify the Bahamas as the sports mecca of the region, said Travis Robinson, parliamentary secretary in the Ministry of Tourism and Aviation.Robinson was speaking at the offici
COB worker’s pay changed, jury told
SUPREME Court jurors heard yesterday how former College of the Bahamas employee Chimeka Gibbs’ salary deductions and consequent net pay fluctuated both monthly and yearly, from 2008 to 2015.
Accused ‘offered to pay back’ money from COB
SUPREME Court jurors heard yesterday how former College of The Bahamas employee Chimeka Gibbs told officials, when confronted about allegations of theft, that she was willing to return some of the money she is accused of stealing from the institution.
Web.com PGA Tour Great Exuma Classic draws millions of eyes
MILLIONS of golf enthusiasts worldwide couldn’t keep their eyes off the Islands of the Bahamas this week as they gazed upon its pristine waters during the Web.com PGA Tour Great Exuma Classic.The event, which was held at Sandals Emerald Bay, is a mar
Avoid 'creative destruction' for $1bn GDP expansion
The Bahamas could increase its annual GDP by up to $1 billion if it avoids becoming a “victim of creative destruction”, a well-known economic commentator argued yesterday. Dr Johnathan Rodgers warned Bahamians and the private sector not to “bury your
Seven-day Business Licence leaves firms 'on edge of our seats'
BAHAMIAN businesses were yesterday said to be “on the edge of our seats” over the Prime Minister’s pledge to approve and issue Business Licences within seven days.Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) ch
Bahamas cannot 'shortcut' exchange control relaxing
THE Bahamas cannot “shortcut” economic reforms essential to underpinning exchange control liberalisation that can go “much further”, the Central Bank’s governor said yesterday.Signalling that further relaxation will be forthcoming, John Rolle said th
College clerk ‘paid herself extra $640k’
AN internal investigation at the College of the Bahamas (COB) in 2015 revealed how within seven years, former employee Chimeka Gibbs took home approximately five times more than her net salary, Supreme Court jurors heard yesterday.
INSIGHT: Who’s afraid of ‘Big Bad Mary Jane’?
IT is “high” time the conversation of marijuana decriminalisation or legalisation be approached intellectually. This has been a subject of recent debate, particularly gaining momentum at the beginning of the year. CARICOM’s regional assessments led to a town meeting over a week ago, where despite a lack representation from the people that oppose marijuana decriminalisation or legalisation, there was still a good turnout as citizens came to voice their opinions on the issue.
Local investors blast Govt's 'wall of silence'
A BAHAMIAN investor group is slamming the 20-year “wall of silence” surrounding its “one-stop” Road Traffic solution, arguing that it has been deliberately shut out of national development.Franklyn Robinson and Charles Beneby, principals in Bahamas A
Disaster fund's $60m levy: 'You can't afford to gamble'
The Bahamas could accumulate over $60 million per year in hurricane “preventative medicine” through a Canadian-led proposal for a disaster recovery fund.Don Maga, principal of The Sand Consulting Group, told Tribune Business yesterday that the 2017 h
Bahamians gear up to 'Race for the Cure'
The Susan G Komen Race for the Cure series, the world’s largest and most successful education and fundraising event for breast cancer, comes to Nassau this weekend. As part of Sunshine Insurance’s Marathon Bahamas Race Weekend, the 5k race will start
'Too valuable' to allow $30m VAT uncertainty
The insurance industry is “too important to the Bahamian economy” to allow uncertainty over an unpaid $30 million VAT refund to persist, a top executive warned yesterday.Anton Saunders, RoyalStar Assurance’s managing director, told Tribune Business t
Development Bank eyes 37% loss fall
THE Bahamas Development Bank’s (BDB) chairman expects a 37 per cent reduction in its 2017 net loss to $1.2 million, and pledged: “We are headed in the right direction.”Lynden Nairn told Tribune Business in a recent interview that the Board is laying
Gov't to refocus NHI on $60m critical care
THE Government is planning to refocus National Health Insurance (NHI) on catastrophic care, believing a $60 million budget “could do an awful lot if properly managed”.Dr Duane Sands, minister of health, told Tribune Business that he and the NHI Autho
BOB to avoid default with $6.4m pay-out
Bank of the Bahamas (BOB) is making a $6.4 million pay-out to avoid defaulting on its preference shares, resulting in a $3 million “capital shock”.Wayne Aranha, the struggling BISX-listed bank’s chairman, told last week’s annual general meeting (AGM)
$750m bond 'prolongs savers' punishment'
THE Government has “prolonged the punishment of savers” through its recent $750 million bond issue, a former finance minister has warned, as the effects work through the monetary system.James Smith, also a former Central Bank governor, said the impac
Commonwealth Bank takes dividends to $30m
COMMONWEALTH Bank has given its 6,000-plus shareholders some extra Christmas cheer by paying an extraordinary $0.02 per share dividend on December 22.
AML chief: ‘Size of pie yet to be seen’
* Uncertainties over Xmas spending * Hopes December ‘uptick’ will persist * All retailers see October/November fall-off
BISX-listed AML Foods has warned that “the size of the pie” remains unknown when it comes to Bahamian consumer spending this Christmas. Gavin Watchorn, the group’s president and chief executive, told Tribune Business that while it was “very confident” of gaining its due share, the extent of holiday expenditure was difficult to predict given continued economic uncertainty and fragile confidence.
