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Insurer sees 38% fall from Summit
Summit Insurance blamed reduced real estate valuations for a 38.2 per cent year-over-year profits slump, as it focuses on “defending our book” in a year that will have “negative growth”.
QC: ‘No more secrets’ over Freeport’s future
An outspoken QC yesterday made good on his threat to launch Judicial Review proceedings against the consultation on Freeport’s future, warning: “No more secrets. It’s finally time for government in the sunshine.”
BTC profits slump 26.4%
The Bahamas Telecommunications Company (BTC) suffered a 26.4 per cent profits slump for the year to end-March 2015, as its revenues and staffing levels came under pressure in the run-up to mobile liberalisation.
CWC: BTC ‘lags’ region despite $75m investment
The Bahamas Telecommunications Company’s (BTC) controlling owner yesterday conceded that its network quality “lags” much of the Caribbean and wider world, despite increasing its capital investment by 47 per cent last year.
More than 4,000 residents now using Social Services debit card
MORE than 4,000 residents of New Providence are now part of the Department of Social Services’ modernised food assistance programme.
POLITICOLE: Calculating Carnival: What's wrong with GDP - and Paul Major's version of it
IN a May 12 Nassau Guardian article, several quotes about the economic impact of Junkanoo Carnival in The Bahamas are attributed to Paul Major. This overall economic impact is to be measured by what is being referred to as the Gross Domestic Product (GDP) impact of the festival on the Bahamian economy.
SEC moving for sanctions against broker’s principal
US federal regulators are seeking sanctions and a default judgment against the Bahamian principal of a broker/dealer for failure to comply with a New York court’s order.
Grand Bahama tourism grows via air and sea, says Wilchcombe
TOURISM Minister Obie Wilchcombe says that tourism growth in Grand Bahama is moving in the right direction, with positive results in both air and cruise arrivals.
Banks to ‘double’ VAT recovery.... to just 10%
The Bahamian banking industry is hopeful it might be able to recover ‘double’ the amount of Value-Added Tax (VAT) inputs than previously thought, as one institution yesterday revealed its total tax burden will increase by $6-$7 million in two years.
Climate change exacerbates Bahamas’ major challenges
CLIMATE change is exacerbating the Bahamas’ challenges with food security, water scarcity and energy security, the Prime Minister said yesterday, over an issue that threatens this nation’s land mass.
US gives Cable growth ‘4 times’ that in Bahamas
Cable Bahamas yesterday said its US expansion had generated growth that would take three-four years to achieve in this market, having enjoyed an “immediate” 26 per cent top-line boost.
US judge slams broker chief’s ‘court disregard’
A Bahamian broker/dealer’s principal has been accused of “disregard for the court’s authority”, resulting in a New York judge blocking his bid to retreat from two multi-million dollar securities fraud lawsuits.
Carnival 'likely' a boost to economy
BAHAMAS Chamber of Commerce and Employers’ Confederation Chairman Gowen Bowe said the positive feedback from Bahamas Junkanoo Carnival has likely had a positive effect on the economy.
Broker warns Feds: 'I'll plead the Fifth'
A Bahamian broker/dealer's principal has warned US federal regulators that their efforts to obtain evidence from him over two alleged multi-million dollar securities frauds will be futile, as his lips will be sealed.
BEC manager-elect slams 'fraud by hindsight' claim
The Bahamas Electricity Corporation's (BEC) prospective manager has dismissed as "fraud by hindsight" claims that it artificially inflated its stock price prior to a one-day wipe-out that erased $250 million in shareholder value.
Nathan Bain returns to Sunrise for prep season
THE latest on the list of prep to collegiate basketball stars to go from the Bahamas to Sunrise Christian Academy to an NCAA Division I programme looks to have an immediate impact on his team this fall. Recently concluding his high school career in Witchita, Kansas, Nathan Bain discussed his decision to withdraw from a previous commitment to Colorado State, return to Sunrise for a prep season, and eventually signing with the Stephen F Austin University Jacks programme for the Fall 2015 semester.
PLP chairman hails achievements in three years of government
PLP chairman Bradley Roberts congratulated the government for the “measurable strides” the country has made during the three years of the Christie administration.
GB Power: 30% system loss cut’s $1.5m in savings
Grand Bahama Power Company (GBPC) yesterday said it had saved consumers $1.5 million in 2014 through slashing system losses by 30 per cent, although its adoption of compressed natural gas (CNG) as an alternate fuel might not happen until “beyond 2018”.
‘Shakeout’ fears for auto dealers
The Bahamian new auto industry will eventually suffer “a shakeout” unless the business environment improves, one dealer yesterday warning: “You can’t keep fighting City Hall forever.”
