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Falling mortgage arrears improve commercial loan position

COMMERCIAL bank loan arrears improved in February by $60.2m, with the most significant decline in mortgage arrears which, according to the Central Bank of the Bahamas, contracted by $39.2m.

Web shops facing taxation 'wipe out'

Sebas Bastian yesterday warned web shops face a “wipe out” from tax increases of up to 355 percent, as the sector accused the government of deliberately seeking to “cripple” it.The Island Luck chief confirmed to Tribune Business that he, and other op

It’s a French renaissance for players

Bahamian basketball players at various levels in France continue to experience early success with their teams.

96 new COVID-19 cases on Friday

The Ministry of Health reported that there were 96 new COVID-19 cases, one additional non-COVID-19 related death and one additional death under investigation on Friday.

Properties taxed on just 40% of value

The average Bahamian property is being taxed on just 40 per cent of its market value, a report warning that this is creating “efficiency and equity distortions” that undermine revenue yields and compliance.

$42.5m Gov’t bond issue ‘50-60% oversubscribed’

The Government’s latest $42.5 million bond offering was expected to “at least 50-60 per cent oversubscribed”, its lead arranger told Tribune Business yesterday afternoon, just hours before its close.

INSIGHT: Fishermen renew pleas to protect our marine resources from poachers

I congratulate our fine men and women of the Royal Bahamas Defence Force (RBDF) for the capture of yet another Dominican poaching vessel.

John Kerry: US ‘delegation here to listen’

UNITED States special presidential climate envoy John Kerry last night told government officials at a welcome reception hosted by the US embassy that every country must join in the fight against climate change and do its part to respond to the crisis for the future generations to come.

Abaco frustration over growing shanty towns

CONCERNED Abaco residents who have repeatedly voiced frustrations about the growing shanty towns on the island want the government to “put their money where their mouth is” when it comes to dealing with the unregulated communities.

Grey Goose founder's son denies February Point bid

The son of the Grey Goose Vodka brand’s founder has denied to Tribune Business that he is leading an investor group seeking to purchase Exuma’s 80-acre February Point development, while acknowledging homeowner concern over the Hart family’s exit plans.

Brewery boosts efficiency 45%

The Bahamian Brewery and Beverage Company’s founder yesterday said the company had improved its efficiency “at least 45 per cent” since it was created five years ago, envisioning its further expansion to a 175-strong workforce.

Businesses wait over two months for bank account

BAHAMIAN businesses face an average wait of more than two months to open a bank account with almost 80 percent asserting that the process “took longer than expected”.

Trent Deveaux signs $1.2m deal with Angels

In January, when Trent Deveaux mulled his decision on which MLB club he would eventually sign to, he said one determining factor would be: “Any place with good weather.”

Digital building permits hailed as ‘long overdue’

The Bahamas Society of Engineers (BSE) president yesterday hailed as “long overdue” plans to slash building permit turnaround times by going digital, branding the 60-80 percent reduction target as “achievable”.

‘Nothing to lose’ over concrete export venture

A former Bahamian Contractors Association (BCA) president says the country must explore transforming itself into an exporter of pre-cast concrete products, and urged: “We have nothing to lose.”

CARICOM, Latin American nations ‘front of mind’ with regards to US vaccines

A UNITED States official said the Biden administration has not made a final decision yet on which countries will benefit from America’s promised vaccine sharing but stressed the COVID-19 situation in CARICOM and Latin American nations has been “front of mind”.

Insurance cuts Aliv's Dorian cost to $2.5m

Aliv’s subscriber base grew by 20 percent during the final six months of 2019, its top executive revealed yesterday, after the mobile operator shrugged off $2.5m in one-off net Dorian costs. Damian Blackburn told Tribune Business it had “recovered a

Foulkes: Web shop job cuts unfortunate

A DAY after web shop Asure Win said it will close 11 locations and layoff about 50 workers, Labour Minister Dion Foulkes described impending staff cuts from the sector as “unfortunate”, but said there are several factors contributing to the closure of gaming houses aside from a tax increase.

Ground broken for $2.5m maritime centre project

AFTER 10 years in operation, Elnet Maritime Agency Limited broke ground yesterday for construction of its $2.5 million maritime centre that will provide about 80 to 100 new jobs on Grand Bahama.Elbert Hepburn, CEO, along with his mother and business

Island Luck chief: ‘I was misled’ on web shop taxes

ISLAND Luck’s principal is alleging that the Government “misled” him over planned web shop tax increases, adding: “My legitimate expectation in a proper consultation was dashed.”

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