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'Risk' broker may not return investor funds
There is a “legitimate risk” that a BISX-listed broker/dealer may not return funds caught up in a $340 million Ponzi scheme to their rightful owners, court documents obtained by Tribune Business have alleged.
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Dames, Lightbourne to join Panthers prep programme
THE BC Christian Prep Panthers basketball programme is establishing itself as a pipeline for Bahamian talent and will add another pair of local student-athletes.
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Tobacco start-up targets up to $10m first year sales
A Bahamian-owned tobacco manufacturing start-up yesterday said it was targeting $5-$10 million in first year gross sales, but warned this and employee hires could be “significantly impacted” if no Excise Tax exemption was forthcoming.
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Fiscal deficit expands 75%
The Government’s fiscal deficit for the first four months of 2016-2017 increased by 75.3 per cent to $157.5 million, blowing past the full-year target of $100 million with two-thirds of the Budget period still to go.
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Women's Week events to conclude with march on Saturday
UNDER the theme ‘Press for Progress’, a week-long series of events marking Women’s Week and International Women’s Day will culminate in a march on Saturday. March organisers Equality Bahamas said this year’s events focused on bodily autonomy and cre
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Broker ‘acted in good faith’ on $400m fraud
A BISX-listed company’s principal, and its main broker/dealer subsidiary, are demanding that a US federal lawsuit against them be dismissed because they “acted in good faith and did not receive ill-gotten profits” from an alleged $400 million financial fraud.
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BISX-listed firm’s $5m ‘recapitalise’ after SEC settles
A BISX-listed company will have to undergo a $5 million ‘recapitalisation’ as a result of the deal struck by its principal and main subsidiary to settle a lawsuit against them by US federal regulators.
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Holowesko victorious
YOUNG Bahamian riders Ella Holowesko, Siena Holowesko, and Tamsin Nottage travelled to Saugerties, New York, with their trainer Mrs Erika Adderley-Coello of Mariposa Stables, to compete at the Marshall & Sterling Insurance League 2016 National Finals this past weekend.
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PETER YOUNG: Small island developing states should speak with one voice
HAVING written only last week about COP26, the UN Climate Change Conference which opens in Scotland in less than one week, I hesitate to return to the subject today for fear of repetition. But there has been a significant new development and it may also be worth reiterating the importance of the conference to Small Island Developing States (SIDS) which include, of course, The Bahamas.
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Court 'quashes' Commission probe into BISX firm's broker
The Securities Commission is appealing a court verdict that “quashed” its bid to assess the solvency of a BISX-listed company’s broker/dealer affiliate, which is embroiled in an ongoing $340 million fraud probe.
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Benchmark 'guarantees' subsidiary's solvency
A BISX-listed company has upgraded support for its main broker/dealer subsidiary to a guarantee that will ensure it remains financially solvent until end-April 2015, in a bid to assuage the Securities Commission’s ongoing concerns.
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Bahamian companies wait two years for $1m fraud recovery pay
Bahamian companies battling to recover assets lost in a $400 million financial fraud are experiencing “financial stress” themselves because they have not been paid almost-$1 million due for two years’ work.
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Bahamas squandering ‘Caribbean’s best VAT’
Royal Bank of Canada’s (RBC) chief regional economist yesterday accused the Bahamas of squandering the Caribbean’s “most successful Value-Added Tax” by failing to act in a fiscally prudent manner.
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Wells, Rose lead race for trophy
HEADED into the final day of competition at the Caribbean Amateur Golf Championships, one pairing of Team Bahamas will attempt to cling to their position atop the leaderboard while others face an uphill climb toward contention.
