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Miller: BEC customers may see cost reduction in July bill
CUSTOMERS may see a cost reduction in their electricity bill in July, Bahamas Electricity Corporation (BEC) Chairman Leslie Miller confirmed yesterday.
Ansbacher enjoys $5m profit swing
The enlarged Ansbacher (Bahamas) appears to have turned the corner after a second merger in six years, engineering an almost-$5 million profit reversal after incurring successive losses.
FINCO cuts staff by 1/3 in 2014
Finance Corporation of the Bahamas (FINCO) cut staffing levels by one-third in its 2014 financial year, taking the reduction in its workforce to 50 per cent over the past five years.
NPBA: Divisional semi-finals set to jump off tonight
THE Patron Regulators and PJ Stingers survived their respective third and deciding games in the first round of the New Providence Basketball Association playoffs to advance to the divisional finals.
BOB ‘owes’ revival strategy disclosure to its shareholders
Bank of the Bahamas “owes it to its shareholders” to publicly release its turnaround strategy, one outspoken investor warning it was “of the utmost importance” this be done without further delay.
CIBC chief: Banks ‘convenient targets’ for tax, politicians
CIBC FirstCaribbean’s regional chief yesterday said commercial banks were “convenient targets” for increased taxes and scapegoating by politicians, warning that this slowed their bottom line recovery.
CIBC hopes bad loan decline addresses Bahamas ‘problem’
CIBC’s regional chief is hoping a “precipitous drop” in early 2015 retail delinquencies develops into a trend that erodes its non-performing mortgage pile, 50 per cent of which are concentrated in the Bahamas.
CIBC: 70% of staff exits ‘voluntary’
Some 70 per cent of the workers that have left CIBC FirstCaribbean International Bank (Bahamas) as a result of its ongoing restructuring were voluntary departures, its regional chief executive said yesterday.
Tourism ‘upswing’: Nassau/PI in 12% Internet demand surge
A 12 per cent surge in Internet search demand for Nassau/Paradise Island is leading top hotel officials to conclude “tourism is on an upswing”, with the capital the most sought-after vacation destination in the Caribbean.
Police road checks net 91 Grand Bahama motorists
GRAND Bahama police have cited 91 people for various traffic violations as a result of road check exercises in the past two days.
‘No doubt’ BoB will be profitable by end-2015
Bank of the Bahamas’ managing director yesterday said he had “not one doubt” the institution will return to profitability by December 2015, despite its shareholders incurring a collective $9.895 million net loss for the current year’s first six months.
Ranfurly Children’s ‘amazing experience’ at NBA game
MIAMI, Florida - Thanks to the efforts of the Ministry of Tourism and Baha Mar, six residents of the Ranfurly Home for Children got a rare opportunity to watch a live National Basketball Association (NBA) game this week.
Bahamas’ big night at Heat game
MIAMI, Florida - It was dubbed the ‘Bahamas Tourism and Baha Mar Theme Night’ and it was an opportunity to show off the Bahamas to the world.
Trip to Miami Heat game is just the ticket for nine-year-old Amauri
MIAMI, Florida - He should have been in school at Queen’s College but Amauri Bonamy was elated to take the time off to attend the National Basketball Association game on Wednesday night between the Miami Heat and the Brooklyn Nets at the American Airlines Arena.
Deputy PM ‘misled’ Parliament over BAMSI
WORKS Minister Philip “Brave” Davis yesterday backtracked from his initial comments that the Bahamas Agriculture and Marine Science Institute’s fire-damaged dorm’s insurance policy had lapsed.
Focus falls on gratuities over VAT compliance
THE Ministry of Finance will be paying close attention to restaurants and similar establishments seeking to add a 7.5 per cent value added tax on their gratuity rates, Acting VAT Comptroller John Rolle said.
Gov’t ‘certainly going to miss’ deficit targets
The Government is “certainly going to miss” its projected $286 million deficit target for the 2014-2015 fiscal year, a leading private sector executive said yesterday, with its spending outpacing revenue intake.
Murder suspect among latest arrests
POLICE arrested 17 persons on Monday, including one man for murder and others who were wanted for questioning in connection with serious offences such as possession of dangerous drugs and housebreaking.
Gov’t is urged to ‘clarify’ VAT data
The Government was yesterday urged to “clarify” its Value-Added Tax (VAT) collection statistics, a leading private sector executive acknowledging the progress but warning it was too early to “heap praises on ourselves”.
Insurance ‘confusion’ over first VAT returns
Large insurance industry players were caught up in “confusion” over whether it was necessary for them to complete Value-Added Tax (VAT) returns for January despite their ‘exempt’ status, Tribune Business was told yesterday.
