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Benchmark tackles portfolio ‘volatility’
Benchmark (Bahamas) yesterday said it had “reduced the risk exposure” in its investment portfolio in a bid to boost profitability, as it continues to tackle its local and international regulatory issues.
Insurer beats 2015 profit goal by 7.3%
A Bahamian property and casualty insurer yesterday revealed it had beaten its own 2015 profit expectations by 7.34 per cent, even though its bottom line declined by almost $700,000 year-over-year.
BEC’s $56m ‘disadvantage’ fear over injunction bid
BEC has warned that New Providence will suffer “severe economic and social consequences” if activists succeed in obtaining an injunction against the power plant supplying 50 per cent of its energy needs.
Call for criminal charges over social services fraud
THE Democratic National Alliance’s economy spokesperson Youri Kemp yesterday called for criminal charges to be brought against those Department of Social Services’ employees guilty of defrauding the department.
Enforcers, Athletico win openers
The Athletico Bahamas from New Providence and the Police Enforcers from South Andros took their opening matches in blowout fashion in the men’s B division of the Bahamas Basketball Federation’s Annual Bunny Levarity National Basketball Tournament.
Close finishes on day 2 of High School Soccer Nationals
A SERIES of close finishes highlighted day two of the National High School Soccer Championships, as the matchups are all square for tomorrow’s final.
RoyalStar ‘won’t chase rainbows’
RoyalStar Assurance “won’t be chasing the rainbow” for new business in 2016, with pricing pressures and other market uncertainties driving it to forecast a flat year-over-year performance.
Griffin: We will investigate auditor’s findings
SOCIAL Services Minister Melanie Griffin said further investigations will be conducted into the damning revelations highlighted by Auditor General Terrance Bastian’s report into the Department of Social Services which was tabled in the House of Assembly on Monday.
Bahamas First ‘not desperate’ to make further acquisitions
Bahamas First is “not desperate” to make further acquisitions, even though its top executive concedes this is the only viable route to growth.
WORLD VIEW: Good sense on drugs absent at the U.N.
For a brief moment it appeared that good sense would prevail and the international community would ditch the failed “war on drugs” policy. But all hopes were dashed at the United Nations General Assembly special session on drugs (UNgass) last week in New York.
Bahamas Waste: Biodiesel deal ‘huge win-win’
Bahamas Waste yesterday said it had created “a win-win” for all stakeholders by selling a majority 51 per cent interest in its fledgling biodiesel business to a local partner for just $180,433.
Downgrade escape ‘not much comfort’
The Bahamas “cannot take much comfort” from maintaining its investment grade rating, the Opposition’s deputy leader yesterday suggesting it was “premature to celebrate” Value-Added Tax’s (VAT) gross $536 million return.
Minnis calls on MPs to reveal BOB loans
FREE National Movement Leader Dr Hubert Minnis yesterday called for all parliamentarians to immediately disclose whether they received any loans from the Bank of the Bahamas (BOB).
S&P: Primary surplus key to stable rating
The Government will take a major step towards convincing Standard & Poor’s (S&P) to maintain the Bahamas’ ‘investment grade’ rating if it can hit primary Budget surplus targets from the 2015-2016 fiscal year onwards.
Baha Mar: Bahamian creditors owed $170m
The continuing uncertainty surrounding the $3.5 billion Baha Mar project is “jeopardising the Bahamas’ fragile growth prospects”, Standard & Poor’s (S&P) believes, with local companies owed a collective $170 million.
BOB needs $30m capital injection
Bank of the Bahamas needs to increase its capital base by $30 million to meet global regulatory requirements, with its Board now assessing “various options” to achieve this.
FNM urged: Push on BOB report tabling
The Free National Movement’s (FNM) former chairman will urge his party’s leadership to demand that the Government table a controversial report on Bank of the Bahamas in Parliament.
Branville: Both FNM and PLP to blame for corruption
DEMOCRATIC National Alliance Leader Branville McCartney yesterday scoffed at recent comments made by Dr Hubert Minnis, insisting that both the Free National Movement and Progressive Liberal Party are to blame for the current level of systemic corruption that exists within public systems.
Joaquin’s $1.3m loss blocks Bahamas First from earnings record
Bahamas First would have produced another profit record in 2015 had it not been for the net $1.3 million loss associated with Hurricane Joaquin, its chief executive yesterday confirming it paid all storm-related claims from its own resources.
Stopover visitor levels regressed 30 years in 2013
The Bahamas’ US tourist stopover arrivals slumped to levels last seen in 1984 as recently as 2013, with the increase in cruise passengers “largely insufficient” to compensate for the loss of their higher-yielding counterparts.
