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The vicious cycle of lockdowns, downgrades and stimulus cost
In the second of a three-part series, Hubert Edwards analyses the challenges confronting The Bahamas as it seeks to secure sufficient funding to ride-out the COVID-19 storm.
Fidelity 'holding our own' on $7.5m half-year profit
Fidelity Bank (Bahamas) incoming chief executive will tomorrow unveil $7.5m in 2020 half-year profits as evidence the bank is “holding our own on the bottom line” despite COVID-19. Gowon Bowe, who will replace Tom Hackett and be appointed to the BIS
BUSINESS BITES: Doctors Hospital - a little diamond in the rough
Investors should take a close look at Doctors Hospital Health System (DHS), our only non-Government full-service medical centre. DHS has never attracted much attention because of its small market capitalisation - ten million shares outstanding, trading at about $2.20 per share. But its recent Annual Report for the fiscal year to January 31, 2019 (released in June) should be required reading for it is positive news.
STATESIDE: We hold these truths to be self-evident - but nothing’s really changed, has it?
So far, 2020 is providing ample evidence that real and perceived discrimination in the United States on the basis of gender and race remains a big issue.
BOB ‘boggles mind’ with 46% bad loans
More than 46 per cent of Bank of the Bahamas’ $510 million loan portfolio is now impaired, with ‘bad’ credit extended to business customers exceeding the sum that remains current.
Realtors enjoy 20% high-end sales rise
Sales of high-end Bahamian properties valued at more than $1 million have increased by 20 per cent year-over-year, with top realtors telling Tribune Business that serious buyers are “not just kicking tyres”.
'Mortgage collapse worse than Greece'
Rattled Bahamian commercial bankers were last night nervously awaiting today’s tabling of the Homeowners Protection Bill in Parliament, fearing it will further depress economic recovery and a mortgage market that has already “collapsed”.
Port's cargo volume 10% above forecast
By NEIL HARTNELLThe Arawak Cay Port’s container throughput volumes are “about 10 per cent” ahead of forecasts for the first half of its 2013 financial year, making tariff cuts a distinct possibility with a further Baha Mar-related boost expected by March.
Ex-BEC director: $100m 'poured out' after tariff cut
A former Bahamas Electricity Corporation (BEC) director yesterday blasted the first Christie administration for the basic tariff reduction that caused “$100 million of equity to pour out” of the utility, arguing that it had never recovered from this.
Gov't increasing VAT energy exemption 150%
The Government is aiming to increase the Value-Added Tax (VAT) ‘exemption’ threshold for electricity bills by 150 per cent to 500 kilowatts per month, Tribune Business was told yesterday, a move likely to cover 50 per cent of residential customers.
Just 3% of health premiums go to insurance profit
Just 3 per cent of premium income typically goes to health insurers’ profits, Family Guardian’s president revealed, as he warned that National Health Insurance (NHI) could reduce available healthcare benefits.
McMinns and Williams help Axemen to 2-1 record
TWO games into their inaugural season with the Acadia Axemen of the Canadian Interuniversity Sport (CIS) and Atlantic University Sport (AUS) a pair of Bahamian players took to the field this weekend.
A ‘Trojan Horse’ for legal liberalisation
The casual reader may be puzzled by the amount of media coverage concerning transforming the Bahamas into an international arbitration centre. Why the pomp and ceremony concerning such a mundane legal area as arbitration? Arbitration is not a game changer, a life saver, or an economic powerhouse for the Bahamas’ financial services industry. In the purest sense, arbitration is a secret trial without judges, little more.
Ministry of Tourism gives support to visitors on Zika
AS concerns mount over the explosive spread of the Zika virus in the region and the potential impact on the local populace and tourism industry, Ministry of Tourism officials have assured the public that they are being proactive.
Freeport losing its ‘second city status’
The Government and Grand Bahama Port Authority (GBPA) were yesterday urged to work together to revive Freeport’s economy, an Opposition MP warning it had “just about lost its second city status”.
Giants rout Pirates 97-73, Regulators top Pros 76-58
COMMONWEALTH Bank Giants and Mr Ship It Freight Regulators are making it a run for the top spots in their respective divisions of the New Providence Basketball Association.
‘No offset’: VAT to stay on healthcare
A senior official yesterday denied that the Government was set to eliminate Value-Added Tax (VAT) on health insurance premiums, as there was nothing “to offset” the resulting revenue loss to the Treasury.
Wilchcombe: Carnival will learn lessons
TOURISM Minister Obie Wilchcombe yesterday hit back at FNM Deputy Leader Peter Turnquest for suggesting that this year’s Bahamas Junkanoo Carnival will be another “big party but economic failure”.
More courts needed, warns Chief Justice
MORE courts will be needed to rid the judicial system of the extensive backlog in criminal cases, Chief Justice Sir Hartman Longley said yesterday.
Former NBA player to host basketball camp
RETIRED NBA player Kenny Anderson is excited to be in Grand Bahama to share not only his talent but his life experiences with young people at a basketball camp/clinic set for this weekend on the island.
