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Danrad, LJ Rose making a name for themselves in NCAA

THEY may be playing in different locations this year, but the Bahamian duo and former teammates at the University of Houston still are posting productive numbers in their senior seasons.

Matthew drives construction sector to five-year ‘peak’

The construction industry is the “busiest” it has been in five years as Hurricane Matthew rebuilding ramps up, the Bahamian Contractors Association’s (BCA) president yesterday estimating 90 per cent of the sector is now “fully engaged”.

Matthew’s $1bn blow not a ‘horrid disaster’

A FORMER finance minister says Hurricane Matthew may have cost the Bahamas up to $1 billion in total economic losses, yet the storm is not necessarily “the horrible disaster” it first appears.

$150m loan for storm repairs

THE Christie administration yesterday moved a resolution for a loan of up to $150m to defray the costs of this country’s recovery and reconstruction efforts as a result of not only Hurricane Matthew, but for last year’s Hurricane Joaquin.

Waste, ‘political attitudes’, bar IMF’s hospital user fee plans

AN ex-health minister says “wastage”, combined with zero political appetite, means the IMF’s call for the imposition of hospital user fees on those “with greatest capacity to pay” is likely a non-starter.

‘Pregnant with opportunity’: FOCOL’s $25m rights issue

FOCOL Holdings is “pregnant with opportunities”, its chairman said yesterday, as it unveiled a $25m rights offering for existing shareholders to finance further expansion plans.

FOCOL eyes 25% profit surge plus acquisitions

FOCOL Holdings is predicting a profit increase of 25.2 percent over the next three years with proceeds from its newly-launched $25m rights offering set to fund unspecified acquisitions and expansions.

PRIVATE SECTOR LOAN DEFAULTS HIT $301M

By NEIL HARTNELL Tribune Business Editor Almost one-third of commercial bank loans to Bahamian businesses are in arrears, something the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman described as a sign that economic recovery

Did Fred learn anything from Abu Dhabi?

IN YESTERDAY’S Tribune, a photo, taken in December, was published of Foreign Affairs Minister Fred Mitchell being received by Abu Dhabi foreign affairs minister Sheikh Abdullah bin Zayed Al Nahyan.

Commissioner warning over use of social media

POLICE Commissioner Ellison Greenslade has warned the public not to post “lewd” or “obscene” pictures on social media and has vowed to pursue such cases and bring charges.

Lourawls making a name for himself

Sunrise Christian Academy has become a major pipeline for Bahamian basketball talent at the high school level, and now the latest product of the Bel Aire, Kansas institution has drawn interest from some of the top NCAA programmes in the country.

City Markets pension plan suffers $758k overpayment

The City Markets staff pension plan overpaid some beneficiaries by a collective $757,668 between 2004-2010, although some $4.216 million was left available to pay benefits as at end-January 2012.

‘Mind blowing’: Under 4,000 firms face paying VAT

Under 4,000 Bahamian companies would likely face having to pay a Value-Added Tax (VAT), a Cabinet Minister describing as “mind blowing” the fact over 85 per cent of businesses might be exempt.

Commercial court can become reality ‘within one year’

The Bahamas could have a functioning commercial court within a year of the Cabinet deciding to establish it, a senior QC told Tribune Business yesterday, adding that such an investment “would more than pay for itself in a very short time period”.

Economic awakening from the ‘bottom up’

Bahamian policymakers have long focused on ‘top down’ economic strategies to improve tourism, financial services and construction for almost 40 years.

Trade deficit increases despite 14% export rise

Despite a 14 per cent increase in total exports, the Bahamas’ merchandise trade deficit increased by 5 per cent in 2012 to hit an all-time high of $2.818 billion.

Charged broker waits five months for Commission's liquidation backing

A Bahamian broker/dealer facing two US lawsuits has been waiting over five months for the Securities Commission of the Bahamas to approve its liquidation plan.

Bahamas edge closer to semis

Team Bahamas followed game one’s dominant performance with a hard fought win in a thriller yesterday to edge closer to Saturday’s semifinals.

Bahamas gets key FATCA exemptions

The Bahamas has secured “sponsored exemptions” from the US Foreign Account Tax Compliance Act (FATCA) for its key financial services products, having chosen to comply via a government-government deal.

'No appetite' to avoid $100m in tax increases

A leading businessman yesterday said the 2013-2014 Budget’s $100 million worth of tax increases would not be required if the Bahamas had the “appetite” to tackle the “deeply ingrained” culture of government dependency.

The Tribune

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