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FINCO’s $2.7m New Year present for investors
Finance Corporation of the Bahamas (RBC FINCO) is giving its shareholders a New Year’s present by paying out a total $2.7 million dividend - the first such capital return to investors for three years.
Commonwealth Bank takes dividends to $30m
COMMONWEALTH Bank has given its 6,000-plus shareholders some extra Christmas cheer by paying an extraordinary $0.02 per share dividend on December 22.
Grand Lucayan waiting on $20m Dorian claim
The Grand Lucayan has yet to receive its expected $20m Hurricane Dorian insurance claim payout even though the property’s sale to the Royal Caribbean/ITM joint venture was completed over two months ago. Michael Scott, chairman of Lucayan Renewal Hol
FOCOL to drive 36% profit rise for Sunshine
Sunshine Holdings is projecting its net income will increase by 36 per cent over the next three years to more than $9 million, with BISX-listed FOCOL Holdings driving much of the improvement.
Corporate income tax: Not ‘holding the bag’
The Bahamas Motor Dealers Association’s (BMDA) president says a corporate income tax levied on net profits would be “fantastic” for the industry if it eliminates a Business Licence regime that can tax companies into a loss.
Inflation jumps five-fold to back PM’s warning
The Central Bank yesterday revealed that annual inflation for the year to June 2022 increased almost five-fold compared to the previous 12 months to give a stark indication of the cost of living crisis facing many Bahamian families.
Bank targeting 50% fee income by 2017
A BISX-listed bank yesterday said fee income would account for 50 per cent of its revenues by 2017, after opting to “bite the bullet” on loan loss provisioning and incur a $389,000 third quarter net loss.
THE PRESS BOX: Big names are on the move as NBA trade season opens
THE NBA trade season is in full swing now that we’ve reached December 15, the unofficial starting point. Here are a few big names that could be on the move to new NBA homes, in very short order.
Cable targets $80m New Providence fibre roll-out
Cable Bahamas plans to invest $80m over the next two-three years on rolling out its New Providence fibre-to-the-home network, its top executive has revealed.
Doctors targeting 23% capital investment rise
Doctors Hospital is planning to invest $4.2 million in capital improvements to its business during its 2014 financial year, the previous year’s bottom line having been impacted by a $1.135 million ‘start-up’ loss.
Insurer's flood claims equal 30% of profits
A Bahamian insurer believes its net loss from last month’s flooding in New Providence will equal 30 per cent of its projected 2013 profits, and be greater than that incurred from Hurricane Sandy.
Permanent residence reforms 'no hedge' on tax info share
The proposed permanent residency reforms are “not a hedge” against OECD/G-20 plans for a worldwide automatic exchange of tax information system, a leading financial services executive said yesterday.
Investors ‘amazed’ over BOB’s first profit in 5 years
BANK of the Bahamas (BOB) “amazed” its shareholders yesterday by declaring its first quarterly profit in almost five years, following its $162 million summer ‘bail-out’.
BEC's $24.3m loss swing 'a shocker'
The Bahamas Electricity Corporation’s (BEC) net loss for the 2012 financial year represents a negative $24.3 million swing from internal projections, a former executive chairman describing this as “a shocker” and adding: “Something seems dreadfully amiss.”
FINCO profits slump 91.4%
Finance Corporation of the Bahamas (FINCO) saw its profits slump 91.4 per cent for the year ending October 31, 2014, primarily due to a more than four-fold increase in loan loss provisioning to $35.595 million.
Law firm calls for creation of Bahamas aircraft registry
TWO senior lawyers are calling for the creation of a Bahamas aircraft registry, saying it could lead to a host of related businesses and industries. They said such a registry would create jobs, fuel economic diversity, potentially boost Family Island busi
Law firm calls for creation of Bahamas aircraft registry
TWO senior lawyers are calling for the creation of a Bahamas aircraft registry, saying it could lead to a host of related businesses and industries. They said such a registry would create jobs, fuel economic diversity, potentially boost Family Island busi
Steps towards a greener future
ActivTrades
STILL unknown to most, Carbon Allowances will soon start catching headlines, gaining importance as an increasing number of countries adopt zero net carbon targets, leaving polluting businesses’ under pressure to either drastically reduce emissions or offset them through such credits, in order to avoid heavy fines or outright closing-down by authorities.
Ministry says changes in payments could prevent end-of-month queues
OFFICIALS at the Ministry of Social Services and Community Development said a pilot study of the Proxy Means Test that will be used as part of the Conditional Cash Transfer System of the Bahamas Social Safety Net Programme went “extremely well” – despite some minor issues.
FamGuard to make agent acquisition
FamGuard Corporation’s insurance agency subsidiary is expanding via the acquisition of a rival Nassau-based agent, Tribune Business has been told, with the BISX-listed insurer shrugging off a sharp 64.8 per cent annuity decline to post a slight half-year profit increase.
