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RoyalStar ‘in position’ for IPO by year’s end
A leading Bahamian insurer yesterday said it “will be in position” by year’s end to become a public company should its Board decide to move in this direction.
Insurer: 10% rate fall to ‘soften VAT blow’
A leading insurer yesterday expressed hope that a 10 per cent year-over-year fall in property and casualty premiums will “soften the blow” from Value-Added Tax (VAT) for Bahamian consumers.
Champions emerge in 1st King Eric Memorial Golf Classic
THE team of national team member Peter McIntosh and his cousin John’ Baldy’ McIntosh emerged as the champions of the first King Eric Gibson Memorial Golf Classic at Lyford Cay Golf Club on Sunday.
Fidelity: 45% profit increase shrugs off licence fee tripling
Fidelity Bank (Bahamas) yesterday shrugged off a “near tripling” of its Business Licence fees to deliver a 45 per cent year-over-year net income increase for 2014.
BISX-listed fund promises investors ‘far better’ 2015
The BISX-listed Bahamas Property Fund yesterday said 2015 will be “a far better year” for its shareholders, as it aims for a ‘double digit’ increase in occupancy levels at its flagship building in downtown Nassau by mid-year.
Bahamas to host World Relays in 2017
ON the eve of hosting the IAAF/BTC World Relays Bahamas 2015, International Amateur Athletic Federation (IAAF) President Lamine Diack announced that the Bahamas will be awarded the third edition when the event shifts to biannual one with the next hosting in 2017.
RICHARD COULSON: Bahamians entitled to more on BEC deal
Last week’s announcement by Deputy Prime Minister Philip Davis finally ended 20 months of suspense about the Bahamas Electricity Corporation’s (BEC) immediate future.
BISX-listed firm guarantees its broker’s solvency
A BISX-listed company has been forced to guarantee its main subsidiary’s financial solvency, after it failed to meet the Securities Commission’s minimum $300,000 capital requirements.
National debt breaches 70% ‘danger threshold’
The Bahamas’ debt-to-GDP ratio had breached the so-called 70 per cent ‘danger threshold’ at year-end 2014, the Central Bank has revealed.
CIBC: Bahamas stands tall versus rest of Caribbean
The Government’s fiscal reform efforts have been praised by CIBC FirstCaribbean’s Canadian parent, which believes the Bahamas’ sovereign rating “measures up pretty well against” over Caribbean nations.
Bahamas Waste eyes ‘all options’ for loss making recyclings
Bahamas Waste is “looking at all the options” for its two recycling ventures that lost a combined $329,000 in 2014, warning that it could not continue “great environmental initiatives” with losses of such magnitude.
Nightclub raid nets women for solicitation and immigration offences
FOURTEEN women - 12 Jamaican and two Bahamian - have been arrested for solicitation and immigration infringements after a nightclub raid by Flying Squad officers on Friday night.
SEC hits at broker’s ‘whack-a-mole’ game
US federal regulators are urging the southern New York courts to prevent a Bahamian broker/dealer and its principal from playing “a game of whack-a-mole” with their obligations to testify against other defendants.
Colonial approved as eighth BISX Sponsor Member
THE Bahamas International Securities Exchange (BISX) yesterday announced that Colonial Pension Services (Bahamas) Ltd has been approved as the eighth BISX Sponsor Member.
NAD fiscal position 'stable' says CFO
NASSAU Airport Development Company (NAD) saw total revenues of $71.5m in its 2014 fiscal year, an increase of $7.2m over the previous year, its Chief Financial Officer yesterday describing the airport operator’s fiscal position as stable.
AML earnings warning: VAT’s ‘put us back’
AML Foods yesterday warned that earnings for its current financial will be hit by Value-Added Tax’s (VAT) impact on consumer spending, with a 2 per cent sales decline year-to-date having “put us back a few steps”.
Regulator accuses broker, principal of ‘gaming system’
US federal regulators have moved quickly to prevent attorneys for a former Bahamian broker/dealer and its principal ceasing to represent them in two New York court cases, alleging they are “gaming the system” to evade producing critical evidence.
Federation to honour legacy of the late ‘King’ Eric Gibson
THE Bahamas Golf Federation is expected to honour the legacy of the late ‘King’ Eric Gibson by hosting the King Eric Gibson Memorial Golf Tournament at Lyford Cay Golf Course on May 3.
Broker’s principal admits defeat in battles with SEC
The principal of a now-defunct Bahamian broker/dealer has conceded defeat in his legal battle with US federal regulators, and is now exposed to summary judgments he cannot pay.
Insurers: NHI costs $300m underestimate
The Bahamian insurance industry yesterday warned that the Government’s consultants had underestimated the proposed National Health Insurance (NHI) scheme’s costs by $300 million or one-third, pegging its total price tag as high as $965 million.
