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Business

 
Basel impacts on capital ratios examined
In a summary of its second Basel II & III Quantitative Impact Study (QSI 2), The Central Bank of The Bahamas (CBOB) revealed that the average capital adequacy levels for international banks used in the study fell by 25 percentage points in compar...
 
 
Rolle to unveil national risk assessment soon
The Central Bank of The Bahamas (CBOB) intends to promote policy changes that would help reduce the prevalence of transactions that are susceptible to being infiltrated by criminal elements and regulate un-banked activities and un-banked persons with...
 
 
Sterling Global finances land assembly for major Boston redevelopment
Sterling Global Financial, an integrated banking and financial services provider with more than US$9 billion in assets under administration and operations in The Bahamas and the Cayman Islands, revealed today that one of its funds has provided bridge...
 
 
No guarantee Baha Mar claims to be paid
Baha Mar creditors are not guaranteed to receive any payment at all from the new claims payment process. Nonetheless, one Cabinet spokesperson insisted that the new process means Bahamian creditors who are owed $500,000 or less – numbering more th...
 
 
Sands: FAQ and PM ‘night and day’ on claims process
President of the Bahamian Contractors Association (BCA) Leonard Sands said an explanation is owed to the Bahamian people by Prime Minister Perry Christie for the revelation that creditors owed by Baha Mar have no assurance of being paid through the n...
 
 
Consumer protection czar questions commitment to ease of doing business
Chairman of the Consumer Protection Commission Senator Jerome Gomez expressed his doubt in the government’s ability to improve The Bahamas’ ease of doing business ranking, which currently stands at 106 out 189 economies according to the World Ban...
 
 
NewCo touts per second billing intent
NewCo Limited 2015, The Bahamas’ second cellular mobile licensee, plans to offer customers a per second billing (PSB) plan, rather than a per minute billing (PMB) plan. NewCo said, “You will only pay for what you use. You will only be billed per ...
 
 
Symonette: Law should apply to everyone
Even as the process of legalizing online gambling at web shops continues to move at a pace some have questioned, and despite the issuance of so-called “provisional licenses”, at least one prominent businessman is commenting on the disparity betwe...
 
 
D’Aguilar: ‘bamboozled’ contractors should sue
Former Baha Mar director Dionisio D’Aguilar said the government’s claim that Bahamian contractors would be paid is “incorrect” to a certain extent and they “bamboozled” the Bahamian contractors into thinking they would get paid. In fact, ...
 
 
Symonette laments business environment
Prominent businessman and former politician Brent Symonette has characterized the business environment in The Bahamas as “frustrating, restrictive, depressive - all of those words”. In fact, echoing growing concerns about a slide in competitivene...
 
 
Senator: Unions have ‘distorted’ business environment
Consumer Protection Commission Chairman Senator Jerome Gomez argued that the heavy presence of unions in The Bahamas has created a “distortion” in the market and business environment. Gomez said this could be seen in the case of over 600 workers ...
 
 
Turnquest: Why is CCA on claims committee?
Free National Movement (FNM) Deputy Leader and Shadow Minister of Finance Peter Turnquest has questioned the absence of the joint provisional liquidators of Baha Mar Ltd. (BML) from the claims committee established to oversee the claims payouts to ...
 
 
Myers: Claims committee should be ‘more balanced’
The committee of five that was established to manage the claims of Bahamians and other creditors of the Baha Mar group of companies should have been more “balanced” in order to create a more “transparent process” to pay creditors, according t...
 
 
Wrinkle: Contractors should probably sue CCA
Former contractors association president Stephen Wrinkle, of Wrinkle Development Ltd., in the wake of the publication of a claims process that prioritizes former Baha Mar employees, said that the contractors barred from participating in the claims pr...
 
 
New Bahamian-owned cargo airline launched
A Bahamian-owned cargo airline service known as Junkanoo Air is expected to boost economic growth by increasing the circulation of goods throughout The Bahamas and surrounding regions. Junkanoo Air is also the first HAZMAT (hazardous materials) cert...
 
 
Central Bank stats: National debt $6.7B
The national debt for the second quarter of 2016 stands at an estimated $6.7 billion in comparison to the same period for the previous year at $6.4 billion, according to The Central Bank of The Bahamas (CBOB) Quarterly Statistical Digest (QSD) for Au...
 
 
Caribbean tourism exec plugs competitiveness focus
Invest Caribbean Now (ICN) CEO Felicia Persaud said it’s an understatement to say the challenge of improving both country and regional competitiveness is “immense”. In a speech titled “Dimensions of competitiveness in the 21st century:...
 
 
Bowe: Bahamas must focus on product development, people
Gowon Bowe, the PricewaterhouseCoopers (PwC) Bahamas accountant and partner, said The Bahamas cannot continue to thrive on private banking going forward, despite the argument that The Bahamas’ financial services industry – an anchorage for many p...
 
 
13th Abaco Business Outlook slated for September 22
The 13th Annual Abaco Business Outlook (ABO) is on target for Thursday, September 22, when Prime Minister Perry Christie will present the keynote address. The event is scheduled to begin at 8:30 a.m. at the Abaco Beach Resort in Marsh Harbour. In ad...
 
 
Smith: Baha Mar process confusing politics and liquidation
Understanding what is happening with respect to the Baha Mar claims committee is “like nailing jello to a wall” according to one observer. And what’s more, Queen’s Counsel (QC) Fred Smith said the way the matter is being handled “is confu...
 
 
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