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‘One rate increase in 50 years is not sustainable’
MONEY owed by delinquent businesses will not save the National Insurance Board fund, Minister of State with responsibility for NIB Myles Laroda said yesterday, adding that many companies that are behind on contributions are small businesses.
Bahamas hits back over OECD ‘non-compliance’
The Bahamas hit back over its sole tax information exchange “non-compliant” rating by the Organisation for Economic Co-Operation and Development (OECD) through arguing the number of countries with complaints was “low”.
Condo hotel tax now takes ‘effect’
The Bahamian resort industry was yesterday said to have “got 90 percent of our asks” over the new condo hotel tax which has now come into effect some eight months after it was first unveiled.
FINCO’s repossessed collateral jumps 30%
Royal Bank of Canada’s (RBC) BISX-listed mortgage arm narrowly beat prior year comparatives with $40m in profits for the year to end-October 2022 following recovery of more than $16m in credit loss provisions.
Chief Justice exposes ‘fronting’ on Bay Street
The Chief Justice has ruled that “illegality was a major part” of a Bay Street retail ‘fronting’ deal involving one of Nassau’s most prominent Greek-Bahamian families.
VAT health claims change ‘may’ not happen April 1
The Government “may not” implement the new VAT treatment for medical insurance claims payouts by its April 1 target, it was revealed yesterday, with the decision hinging on a meeting with healthcare stakeholders later this week.
Laroda again puts case for action on NIB funds
MYLES Laroda, state minister with responsibility for the National Insurance Board, yesterday continued to advocate for increased contributions for the agency’s fund to avoid an $98m loss this year.
Debt-to-GDP lowered by a fifth, reports govt
PRIME Minister Philip “Brave” Davis commended his administration’s fiscal performance compared to that of the former administration’s pre-pandemic levels, telling the Opposition: “There is a reason why we are here and you there.”
Investors in $18m boost as bank beats target 10%
Commonwealth Bank yesterday said it beat 2022 profit targets by 10 percent as it used its record net income to return $18m to shareholders via two extraordinary dividend payments.
Pintard urges PM to own deficit mistake
FREE National Movement leader Michael Pintard said Prime Minister Philip “Brave” Davis should issue an “unfettered” apology to the public for presenting the wrong deficit figure in Parliament and “own” the mistake.
CARIFTA swim team named
AFTER an intense Last Chance Meet over the weekend at the Betty Kelly Kenning Swim Complex, Bahamas Aquatics selected and ratified a 39-member team that will represent the Bahamas at the CARIFTA Swimming and Open Water Championships.
UB Mingoes men in 1-1 draw with Bears FC in fierce match
THE University of The Bahamas men’s soccer team put its three-match winning streak on the line against Bears FC in Bahamas Football Association play at the Roscow A.L. Davies Field.
EDITORIAL: Davis tries to shift the blame
WHEN Prime Minister Philip “Brave” Davis gave his mid-year Budget communication last week, it seems something did not add up. He told the House that the government experienced a net deficit of $285.7m – that’s $7.8m more than the previous year.
‘Credibility problem’ over deficit revision
The Opposition yesterday charged that the Prime Minister has “a very big credibility problem” after he gave conflicting reasons for revising the fiscal deficit downwards just a week after unveiling the mid-year Budget.
PM: DEFICIT FIGURE WAS INACCURATE – Davis blames error by writer as he corrects statement
THE government’s fiscal deficit actually decreased by $5.3m in the first half of the fiscal year when compared to the same period in the previous year, Prime Minister Phillip Davis clarified in the House of Assembly yesterday.
GB Power ‘clawing way back’ in 25% profit rise
Grand Bahama Power Company was yesterday said to be “clawing our way” back to targeted net income after producing a 25 percent profits increase to $10m for the 2022 full-year.
Gas station dealers mulling shut down
Gas station dealers are mulling a sector-wide shutdown this month amid growing concern about the ability of the industry’s fixed price controlled-margins business model to cope with a variety of cost increases.
J S Johnson puts COVID ‘in dust’ via 15% profit rise
J S Johnson shrugged off ongoing reinsurance capacity concerns to yesterday unveil a 15.1 percent profit increase for the 2022 that was aided by placing COVID-related restrictions “in the dust”.
Kalik maker overcomes $15.8m cost hike with 67% profits jump
COMMONWEALTH Brewery overcame an inflation-driven $15.8m increase in total costs to yesterday unveil 66.7 percent year-over-year profit growth for 2022.
Sunland Baptist takes title to Grand Bahama
36TH HUGH CAMPBELL BASKETBALL CLASSIC
The curtains came down on the 39th edition of the prestigious Hugh Campbell Classic on Monday night with the Sunland Baptist Stingers emerging as the back-to-back champions.
