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Insurer exceeds targets despite 6% top-line fall

Bahamas First yesterday said it beat its 2014 underwriting income targets by between 5-10 per cent, despite encountering margin pressures that cut top-line premium income by more than $9 million.

Cable breaks B$ record despite being $7m short

Despite missing its combined target by $7 million, Cable Bahamas’ preference share issue was yesterday described as the “largest amount” of new Bahamian dollars ever raised from this nation’s capital markets by a private sector entity.

Judge unimpressed by broker’s ‘failed corporate suicide’

A Bahamian broker/dealer’s “failed attempt at corporate suicide” has failed to impress a New York judge, who has ordered it to produce potentially thousands of documents sought by US federal regulators by today.

Duped on VAT?

Mr Gowon Bowe, chairman of The Bahamas Chamber of Commerce and Employers Confederation, was recently reported as sending a shot across government’s bow, dressing them down about not answering matters raised by the private sector.

Fears hard-hit consumers may drop insurance cover

THE insurance industry in the Bahamas is concerned that it may see its customer base shrink, an industry executive noting that the high cost of living, the impact of Value Added Tax (VAT) and stagnant wages may lead many consumers ultimately to drop their coverage.

Insurance industry to introduce VAT education programme

THE insurance industry is not waiting “idly” until the government finalises the details on how the industry will be affected by Value-Added Tax (VAT) on July 1 according to one leading insurance executive, who has told Tribune Business that the sector was positioning itself to launch its own education campaign.

Lady Truckers take the title

With another blowout victory, the Johnson’s Lady Truckers put the finishing touches on their fifth New Providence Women’s Basketball Association championship crown at the DW Davis Gymnasium last night.

RoyalStar mulls public offering

A leading Bahamian insurer is examining whether it should become a public company by offering shares to investors via an IPO, its chairman revealed yesterday.

Arawak Homes set for ‘reinvention’

Sunshine Holdings’ $20 million preference share issue “worked out better than we thought”, its chairman said yesterday, unveiling plans to “reinvent” its Arawak Homes subsidiary.

3,000 now using social services cards

THE Department of Social Services has recently certified more than 1,000 additional eligible Bahamian families to use re-loadable pre-paid Visa cards instead of their food assistance coupons. Almost 3,000 people are now using the cards, five months since the launch of the scheme.

Broker denies Commission’s ‘deliberate stalling’ claim

A Bahamian broker/dealer has vehemently denied it is “intentionally stalling” its legal action against the Securities Commission, while effectively accusing its US counterpart of ‘ambushing’ it in New York court proceedings.

SPORTING MISCHIEF & MAYHEM: Perseverance and persistence pays off

THIS week’s column is dedicated to 13 tough-as-nails baseball players in the coach pitch division of JBLN (the Junior Baseball League of Nassau) - the Bahamas Wi Max Cubs. The 0-9 Cubs ... pardon me, now the 1-9 Cubs!

Commission fears ‘powerless and ineffective’ US stigma

The Securities Commission fears the US government will treat it as “powerless and ineffective” because a broker/dealer’s legal “stalling” tactics are preventing it from assisting its foreign counterparts.

Cable targets largest ‘new money’ raise

The $60 million Bahamian dollar component of Cable Bahamas’ latest preference share issue will be the largest ‘new money’ placement by a private company if fully subscribed, its financial advisor saying there had been “a very positive response” by investors.

Cybot Queens roll over Lady Truckers to even series 1-1

THE Super Value Cybot Queens blew out the Johnson Lady Truckers to even the New Providence Women’s Basketball Association best-of-3 series at 1-1.

Superwash: VAT payment down 35% for February

Superwash’s president yesterday said its Value-Added Tax (VAT) payment for February was down 35 per cent month-over-month, as the burden shifts to utilities and others who billed for January a month later.

Bermuda strikes early to defeat Bahamas 5-0 in first leg of World Cup qualifier

THE visiting BFA emerged as winners once again as the Bahamas hosted Bermuda in international competition.

Follow NIB: Haul property tax delinquents to court

The Bahamas will enjoy a far higher real property tax compliance rate if the Government were to follow the National Insurance Board’s (NIB) lead and prosecute delinquent payers through the courts, a top private sector executive said yesterday.

WTO to end property tax advantages for Bahamians

The Bahamas will have to eliminate its nationality-based real property tax exemptions that discriminate in favour of locals before it becomes a full World Trade Organisation (WTO) member, a report warning the current system is “not in accordance with international practice”.

BEC anticipating $3m monthly from Baha Mar

The Bahamas Electricity Corporation (BEC) anticipates receiving $2.5-$3 million in monthly payments from the Baha Mar development once it fully opens, it executive chairman has disclosed.

The Tribune

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