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BTC: Foreign-owned, but Bahamians in charge

ON THIS page today, a letter, signed only as “See the Danger”, questions not only the morality of selling Bahamas Telecommunications to a foreign company, but also the legality of such a sale.

Clubs and societies: Road cycling series continues

Bahamas Cycling Club. - New Providence continues its road cycling race series this Sunday, starting and finishing at The Cove, West Bay Street.

Cable predicting 130% profit growth to 2018

Cable Bahamas is forecasting that net income will increase by 130 per cent over the next five years as a result of its Florida expansion, with its US interests ultimately accounting for one-third of its bottom line.

BTC: Foreign-owned, but Bahamians in charge

ON THIS page today, a letter, signed only as “See the Danger”, questions not only the morality of selling Bahamas Telecommunications to a foreign company, but also the legality of such a sale.

AML: $1.5m VAT costs won't wipe-out profit

AML Foods 2013 annual profit would have been wiped out by the $1.5 million annual cost increase the company is projecting from Value-Added Tax (VAT), its chief executive yesterday pledging: “We’re not going to let that happen.”

AML Foods eyes dividend restart on 'improved' Q1

AML Foods is aiming to resume investor dividends based on “significantly improved results” for its first quarter to-date, after yesterday unveiling a 45 per cent year-over-year profit increase for the final period of its 2014 financial year.

Many exemptions making VAT 'too damn complicated'

The Government’s proposed 150 exemptions risk making Value-Added Tax (VAT) “too damn complicated”, a well-known businessman yesterday warning this would result in increased tax rates and non-compliance.

Benchmark 'guarantees' subsidiary's solvency

A BISX-listed company has upgraded support for its main broker/dealer subsidiary to a guarantee that will ensure it remains financially solvent until end-April 2015, in a bid to assuage the Securities Commission’s ongoing concerns.

VAT does 'not hit the rich'

Value-Added Tax (VAT) is not the best fiscal reform option for the Bahamas because “it does not hit the rich”, a leading financial analyst is arguing.

Broker targeting 3,000 clients for cyber cover

NUA Insurance Agents & Brokers is targeting up to 3,000 clients with its newly-launched cyber liability insurance coverage, a product designed to give businesses protection from online exposures such as e-theft.

Broker submits eight defences to S.E.C. claims

A former Bahamian broker/dealer and its principal have submitted eight defenses to allegations by US regulators that they participated in an “illegal unregistered offering and sale” of securities that netted $11.4 million for clients.

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Donald Sterling is banned for life by the N.B.A.

NEW YORK (AP) — Issuing about the strongest rebuke that he could, NBA Commissioner Adam Silver banned Los Angeles Clippers owner Donald Sterling for life on Tuesday for making racist comments in a recorded conversation, the first step toward forcing a sale of the club and permanently removing Sterling from the league.

Tax experts support one rate, no exemptions V.A.T. framework

A “one rate, no exemptions” Value-Added Tax (VAT) framework has worked “extremely well” in New Zealand according to tax experts from that country, noting that such a move would broaden the tax base and minimise compliance costs.

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GOLD RUSH: Team Bahamas earns 38 medals, 16 gold

Team Bahamas continues its stellar performance at the 29th CARIFTA Swimming Championships in Aruba and appears on pace to claim the overall meet title headed into the final day of competition today.

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CARIFTA SWIMMING: Bahamas among top performers

Prior to the CARIFTA Swimming Championships, head coach Andy Knowles said he expected his 36-member team to “compete with the top tier teams this year” at the 29th edition of the meet.

FINANCIAL FOCUS: The looming pension gap

Last Monday, both daily newspapers carried stories about our looming pension crisis which seemingly continue to fall on deaf ears. This is a topic which I, and others, have been warning of for years… yet nothing tangible has been done.

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Attorney’s Call For Government Intervention in GBPA Matter “A Bit Unusual”

'Severely hampered' over legal action against Alliance

Liquidators for an alleged multi-million dollar Ponzi scheme have been “severely hampered” by a lack of financing in their efforts to recover a $5 million investment, and pursue legal action, against a BISX-listed company’s main affiliate.

Bahamas First 'fully expecting better' 2014

Bahamas First yesterday said it was “fully expecting this year will be better” than 2013, when total comprehensive income rose 13.2 per cent despite an almost-$2 million hit from May’s floods.

Bahamas waste eyes 20% rise in recycled supplies

By NEIL HARTNELL