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RBDF operations with police ‘is not a long-term solution’
WHILE the increased collaboration between the Royal Bahamas Defence Force and police has netted results for law enforcement, one marine has warned that the strategy could not become the final solution to the nation’s violent crime ills.
INSIGHT: Chinese investment – May be detrimental to Bahamas economic health
This is the second in a series of articles being written by Mr Carey Leonard, outlining why doing business with the Chinese (Beijing) is not proving beneficial to the Bahamas. Mr Leonard, a commercial lawyer, is an associate in the law firm of Callenders & Co., Freeport.
WORLD VIEW: De-risking a serious threat to Caribbean security
FOR over a year in the Councils of the Organisation of American States (OAS), Caribbean countries have been warning of the threat to the region’s economic and political stability arising from the withdrawal by US banks of correspondent banking relations to Caribbean banks. Those relations have been in place for over a century, giving significant profits to US banks.
Aliv targets January 2018 for ‘break even’
The Bahamas’ new mobile operator yesterday said it expects to “break even” around January 2018, having gained 50,000 subscribers to-date despite not penetrating 45 per cent of the potential market.
Commission clarifies crowdfund uncertainty
The Securities Commission (SCB) yesterday addressed uncertainty over its proposed crowdfunding rules by defining what qualifies as a small or medium-sized business.
Aliv’s $30m offering to be ‘well oversubscribed’
Advisers to the Bahamas’ second mobile operator yesterday predicted its just-launched $30 million bond offering “will be well oversubscribed”, amid expectations it will start generating a profit by 2019.
Family Guardian in near-$6m ‘hit’ from Prime slash
Family Guardian yesterday said it took a near-$6 million hit at year-end 2016 as a result of the Prime interest rate reduction, which impacted “more than 70 per cent” of its investment assets.
GB Power demand 10% ‘below normal’
Demand for Grand Bahama Power Company’s (GBPC) electricity is down 10 per cent below normal levels, with its majority shareholder not anticipating a recovery before 2018.
Aliv in ‘phenomenal position’ financially
The Bahamas’ new mobile operator is in “a phenomenal position” financially, having secured $186 million in start-up funding prior to this week’s planned capital raising.
$50m capital raising comes Aliv next week
The Bahamas’ new mobile operator will bring a $50 million capital raising ‘Aliv’ next week, its advisers yesterday predicting “a very successful offering”.
Bahamas in $40m foreign property buyer ‘outflows’
The Bahamas has suffered two consecutive years of $40 million-plus net real estate outflows due partly to the exit of foreign buyers, the Central Bank’s governor confirmed yesterday, with inward investment flows falling to $163.2 million in 2016.
PLP chair branded ‘delusional’ as debt ratio soars to 78%
Bradley Roberts was yesterday branded “delusional” for asserting that the Christie administration had “rescued the Bahamas from the brink of the fiscal cliff”, after it emerged that this nation’s debt-to-GDP ratio ended 2016 at 78 per cent.
PHA merger ‘no magic wand’ for health efficiency
The Government cannot simply “wave a magic wand” and hope that merging the Public Hospitals Authority (PHA) with the Department of Public Health will cure all the public healthcare system’s woes, a well-known physician said yesterday.
Consumer chief to banks: ‘We can’t take all of this’
The Consumer Protection Commission’s chairman is openly questioning whether Bahamians benefit from foreign-owned banks, and urged this country to “get to the position where we say enough; we can’t take all of this”.
AML chief’s concern on ‘awful’ Freeport economy
AML Foods is expressing concern that Freeport’s “awful” economy could drag down previously strong sales growth, its chief executive saying reports of the city’s unemployment levels were “staggering”.
A chance for interns to sign up for shark lab
TWO more Bahamians will have the opportunity of an internship at the Bimini Biological Field Station (BBFS), more commonly known as ‘The Shark Lab’, this summer.
Scotia profits up 266% through ‘bad loan’ sale
Scotiabank (Bahamas) yesterday said it had gained $7 million from the sale of non-performing mortgage loans, which helped to drive a 266 per cent increase in 2016 profits.
FINCO cuts staff 70% in five years
FINCO has slashed staffing levels by 70 per cent over the past five years, as it continues to outsource back office functions to its parent in a bid to cut costs in a low growth environment.
Jaguars top Tabernacle Falcons 61-53 to claim championship
AFTER falling short in the inaugural title game, the St George’s Jaguars protected home court in 2017 and brought the national championship to Jaguar country.
Success and the single mother
Balancing a career and raising a family alone is challenging but achievable. Jeffarah Gibson hears the encouraging story of one female entrepreneur whose hard work has paid rich dividends . . .
