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Commonwealth hails $63.5m profit amid 91% claw back fall

COMMONWEALTH Bank yesterday hailed its “second most profitable” year-ever through $63.5m in net income that was generated despite a near-91 percent drop on COVID loss provision write-backs.

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One-month tax certificate to halt ‘bush crack, man gone’

Bahamian tax authorities yesterday asserted they have “learned from our mistakes” as it emerged companies with outstanding bills are only being issued with tax compliance certificates valid for one month.

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Doctors Hospital targets $10m acquisition boost

Doctors Hospital yesterday predicted annual revenues will increase by $10m through its acquisition of The Kidney Centre in a deal that will make its workforce more than 1,000-strong.

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Minister’s $185k CARIFTA ‘surplus’ came from 360% subsidy overshoot

A Cabinet minister yesterday asserted that last year’s CARIFTA games generated a $185,503 “net surplus” even though this was only made possible by a taxpayer subsidy over four times’ higher than budgeted.

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Comets, Hurricanes repeat as junior soccer champions

The junior portion of the Bahamas Association of Independent Secondary Schools Sports (BAISS) Soccer Championships is officially in the books.

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PM says divorce is a solution for marital rape

GIVING no firm indication that his administration will criminalise marital rape, Prime Minister Philip “Brave” Davis suggested yesterday that divorce is the solution for women who believe their spouse has raped them.

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Fund manager to be ‘little more defensive’

A Bahamian investment bank plans to be “a little more defensive” in 2024 with its stock picks as it targets close to $20m annual asset growth in its main equities investment fund.

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Mingoes pick Baha Jrs apart with 10-0 win

THE University of The Bahamas men’s soccer team seemingly could not be stopped against BahaJrs in Bahamas Football Association action recently at the Roscoe A.L. Davies Field.

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CARIFTA TV payment cut in half on contract breach

An upfront $50,000 cash payment related to broadcasting rights for last year’s 50th CARIFTA track and field championships was cut by 50 percent after organisers breached the contract.

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$7m overspend on sports events

BAHAMIAN taxpayers incurred an extra $7m bill to cover cost overruns for two much-hyped sporting events that were hosted last summer, the Government’s financial watchdog has revealed.

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FNM claims govt broke law on finance

THE Opposition’s finance spokesman yesterday challenged whether the Government may have violated public finance laws by drawing on $133m from its “sinking funds” to pay debts coming due.

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Civil society: The cornerstone of democracy and progress

IN its broadest sense civil society is all the people, places, and things functioning in a civilised society.

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Albany developer’s Bahamas return after spared jail time

ALBANY’S principal investor was given permission to return to The Bahamas as early as yesterday after being spared jail time following his previous guilty plea to securities fraud.

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NIB’s $240m loss at COVID’s peak

COVID-19 has left the National Insurance Board (NIB) facing an “uphill lift” to recovery after plunging the nation’s social security system into a $240m loss at the pandemic’s peak.

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FOCOL targets wide growth in ‘preparing for the next 50 years’

FOCOL Holdings’ top executive last night said it is targeting growth “in every sector of our business”, including gas stations and electricity generation, and added: “We’re preparing for the next 50 years.”

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Sandilands and Centreville Primary girls and boys volleyball champions

SANDILANDS Primary and Centreville Primary emerged as the girls and boys champions of the New Providence Public Primary Schools Sports Association’s 2024 volleyball championships.

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Albany chief in 'devastating and self-inflicted humiliation'

Albany's principal investor has admitted that pleading guilty to securities fraud is "a devastating and self-inflicted humiliation I will have to live with for the rest of my days".

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‘Specialist skills dearth’ hurts financial services

A “DEARTH of specialist skills” in the legal and other professions is undermining the Bahamian financial services industry’s competitiveness, a prominent KC warned yesterday.

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50% fear or pay bribes for building and import permits

Fifty percent of Bahamian companies seeking construction and import-related permits say they have either been asked, or expect, to pay a bribe to obtain the required approvals, it has been revealed.

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Central Bank in multiple exchange control eases

THE Central Bank last night unveiled multiple reforms to further relax The Bahamas’ exchange control regime that it believes will not create any “material” risks for the US dollar peg and wider economy.

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