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SCOTIABANK: GROUP INSURANCE POLICY GROWS EVERY YEAR
By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) says its group homeowners insurance programme is growing in size every year due to the "stress" in its $1.498 billion loan portfolio, as it pledged to resolve any concerns the industry regulat
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SCOTIABANK: GROUP INSURANCE POLICY GROWS EVERY YEAR
By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) says its group homeowners insurance programme is growing in size every year due to the "stress" in its $1.498 billion loan portfolio, as it pledged to resolve any concerns the industry regulat
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Bank of The Bahamas hit by Central Bank’s 3-year bar
Bank of The Bahamas’ top executive admitted its risk management had been poor as he revealed the Central Bank has blocked it from taking on new business borrowers for three-plus years.
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BPL targeting $85m from local investors
Bahamas Power & Light’s (BPL) chairman yesterday voiced confidence that local investors will “fully subscribe” for the $85m portion of its upcoming bond issue that will be placed in this nation.
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Arrears hit $600m as 40% of property tax bills don’t reach
Up to 40 percent of real property tax bills never reach the intended taxpayer, the Auditor General’s Office revealed yesterday, as unpaid arrears breached the $600m mark.
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PLP set to train aspirant candidates in Grand Bahama
THE Progressive Liberal Party will be training aspirant candidates in Grand Bahama at the end of the month, PLP Chairman Fred Mitchell announced this week.The training module will be staged for people interested in running in the next general electio
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‘Rid yourselves of negative thoughts’ on $200m project
Bahamians were yesterday urged to “rid themselves of any negative thoughts” as to whether the latest $200m effort to revive the Cotton Bay Club is for real.
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‘Sell, sell, sell’ BOB even with 164% profit rise
The government’s priority with Bank of The Bahamas (BOB) must be to “sell, sell, sell”, a prominent minority shareholder argued yesterday, despite half-year net income increasing by 164 percent.
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AML: $14m spend aids ‘neighbourhood store’ strategy switch
AML Foods yesterday continued its transition away from the “mega destination store” model with the groundbreaking for its $14 million Solomon’s Yamacraw property, its chairman saying he was “very bullish” on the company’s prospects.
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Bahamas ‘nightmare’ if no Baha Mar visitor increase
The Bahamas faces “a nightmare” if Baha Mar’s opening in 2015 fails to increase stopover visitor numbers, Atlantis’s top executive warning such a scenario would spark “a rate war” and drive hotel sector salary levels to “unsustainable” levels.
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Business environment 'deters investment'
Cumbersome property registration and business licensing requirements are “deterring private investment”, the Inter-American Development Bank (IDB) has warned, while court costs associated with contract enforcement are equivalent to almost 30 per cent of claim value,
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Aragonite developer plans factory outside Port area
The manufacturing facility for a proposed $50 million aragonite mining project will be located on Grand Bahama outside the Port area, a spokesperson yesterday saying it was unclear whether Wednesday night’s Town Meeting was truly representative of local community opinion on the project.
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'Criminal' wait for Bay Street height decision
The 10-month wait for a government decision on whether to lift downtown Nassau’s height restrictions was yesterday branded “criminal”, a leading realtor saying it was depressing property values and inhibiting investment proposals critical to the area’s revival.
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Insolvent broker: $2.76 owed by affiliates 'could alter significantly'
THE sums owed to Owen Bethel's insolvent Montaque Capital Partners by affiliated companies "could differ significantly" from the initial $2.76 million estimate, liquidators for the Bahamian broker/dealer have warned, as they continue to also probe deals linked to Mr Bethel's family.
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Bahamas broker’s clients: ‘We’ll be left with nothing’
Deloitte & Touche liquidators and their attorneys have been awarded over $1m in costs despite clients of a collapsed Bahamas broker/dealer voicing fears this payment leaves nothing for them to recover.
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Man faces court over death of 11 Haitians in boat sinking
AN Abaco man who allegedly owned a boat used in a human-smuggling operation that ended up with 11 of its 28 passengers dead was brought to court yesterday. However, 43-year-old Alphonso "Carpo" Ed
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sports inbrief
BASKETBALL GSSSA FINALS THE Government Secondary Schools Sports Association (GSSSA) best-of-three championship series is slated to begin at the Kendal Isaacs gym on Thursday. In the junior girls division at 4pm, the H O Nash Lions are scheduled to take on
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sports inbrief
BASKETBALL GENEVA RUTHERFORD GIRLS' TOURNEY RESULTS from day one of the HOYTES 2012 Geneva Rutherford Girls National Basketball Classics in Grand Bahama are as follows: Jr Girls: Temple Christian def. Catholic High 30-23. Sr Girls: Tabernacle def. Centr
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Committee set up to advise on university president search
THE board of trustees of University of The Bahamas has appointed a Presidential Search Committee to establish the process by which the new institution’s president will be selected and hired.
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Junkanoo icon Anthony ‘Stick-A-Tone’ Johnson dies
THE sporting fraternity of softball and baseball as well as the junkanoo world is mourning the loss of Anthony ‘Stick-A-Tone’ Johnson. Johnson passed away last week. He joined the Saxons in 1967 and brought with him a group of men from Market Street called ‘The Lollipop Boys,’ who included Jay Fox, Katanga Johnson, Kenny ‘Mary’ Fox and KC Campbell.
