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BTC 'not immune' from CWC's $100m cost push

By NEIL HARTNELL

'Mortgage collapse worse than Greece'

Rattled Bahamian commercial bankers were last night nervously awaiting today’s tabling of the Homeowners Protection Bill in Parliament, fearing it will further depress economic recovery and a mortgage market that has already “collapsed”.

Insurer closes on $25m net equity 'landmark'

A Bahamian general insurer is expecting to hit the $25 million net equity “landmark” by mid-2013, after last year’s net income performance beat budget targets by 30 per cent.

Realtors enjoy 20% high-end sales rise

Sales of high-end Bahamian properties valued at more than $1 million have increased by 20 per cent year-over-year, with top realtors telling Tribune Business that serious buyers are “not just kicking tyres”.

Brewery concerned on spirits smuggling rise

Commonwealth Brewery’s managing director has expressed concern about a 2013 first quarter increase in spirits smuggling, although total sales remained “higher than historical trends”.

Bahamas 'wasting' energy reform chances

THE high cost of energy in the Bahamas is “hampering” national development, a prominent environmental attorney arguing that this nation’s almost-zero renewables penetration showed reform opportunities were being wasted.

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.

'Exponential growth' via new fund product

The Bahamas could soon enjoy “exponential growth” in its investment funds industry via a new product “married to the SMART Fund”, a Cabinet Minister said yesterday.

Moss 'emphatic': No favoritism to $10m BAB offering

The National Insurance Board’s (NIB) former chairman “was emphatic” that no Cabinet ministers urged him to treat the $10 million investment offering by BAF Financial’s parent “in a preferential way”, an audit report has disclosed.

Bahamas positions as 'serious market mover'

THE Bahamas was yesterday described as “the destination” for the creation of mutual funds, one manager stating that the jurisdiction was positioning itself to become a “serious market mover” in that industry.

Bahamas in estate planning 'uptick'

THE Bahamas has seen an “uptick” in interest for estate planning services, it was noted yesterday, particularly from countries such as Mexico, Brazil and Canada.

Insurer hit by 50% contractor fall-off

A Bahamian insurer yesterday unveiled a 145.4 per cent net income increase for 2012, shrugging off a 50 per cent decline in construction industry premiums.

Commission names new market manager

The Securities Commission of the Bahamas (SCB) has appointed Velma Miller as manager of its market surveillance department with effect from yesterday.

Fidelity on track for $8m full-year profits

Fidelity Bank (Bahamas) believes its $2 million first quarter net income performance will repeat throughout 2013, with shareholder equity returns having risen another 3.7 percentage points.

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.

'Vest' $71m dormant funds in Treasury

The $71 million in dormant accounts currently held by the Central Bank should instead be “vested” in the Public Treasury, a leading accountant said yesterday, thus aiding a government desperately needing every cent of revenue it can get.

Bahamas routs Puerto Rico 9-1

An eager crowd of spectators could not have anticipated a better showing from Team Bahamas, who had a dominant debut performance in the 2013 CONCACAF Qualifier for the FIFA Beach Soccer World Cup.

Property Fund targets 5-10% vacancy drop

The BISX-listed Bahamas Property Fund yesterday said it was targeting a five-10 percentage point reduction in 2013 vacancy rates at its flagship downtown property, telling Tribune Business this could instantly improve the full-year bottom line by $250,000-$500,000.

VAT: manufacturing impact 'far from' original fears

The implementation of Value Added Tax (VAT) will not have the impact on Bahamian manufacturers that was initially feared, an industry leader yesterday saying businesses were failing to see the “two sides of the coin”.

AF Adderley Junior Girls Volleyball champions for third straight year

Another sport on the Government Secondary Schools Sports Association calendar, another championship title for the AF Adderley Tigers’ junior girls programme.

The Tribune

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