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Cable’s $10.69m profits swing amid refinancing drive on Aliv

Cable Bahamas yesterday unveiled a positive $10.69m bottom line turnaround for the first half of its 2023 financial year despite encountering frustration over the pace of Aliv’s debt refinancing.

Forecast 78% deficit slash 'significant ask'

Achieving current projections of a 78 percent year-over-year cut in the Government's fiscal deficit will be "a significant ask" based on existing trends, a governance reformer warned ahead of today's 2023-2024 Budget.

Sarkis loss ‘over $3bn’ if Baha Mar hit targets

Sarkis Izmirlian would so far have “lost more than $3bn” in potential profits alone if the Baha Mar resort from which he was ousted hit his financial projections, an analyst’s report has calculated.

Bahamas First unveils Cayman woes probe

Bahamas First has assigned its non-executive directors to probe woes that resulted in regulators threatening to bar its Cayman affiliate from writing new life and health insurance business.

THE BAHAMAS BEATEN DESPITE QUICK START: Puerto Rico win 6-1 in Nations League opener

AFTER getting off to an “electric start” from a quick shot from Christopher Rahming to ignite the home crowd inside the Thomas A. Robinson National Stadium, the Bahamas men’s team could not stop the relentless onslaught from Puerto Rico as they responded with a flurry of goals.

Bahamian developer in deal at Goodman’s Bay

A well-known Bahamian developer behind projects such as Balmoral, ONE Cable Beach and Aqualina is eyeing the imminent acquisition of a prominent Goodman’s Bay property.

Attorney loses appeal on ‘forged’ bank drafts

A Bahamian attorney yesterday failed to overturn the rejection of his “gross negligence” claim against Scotiabank (Bahamas) after two “fraudulent” bank drafts left his account overdrawn by $165,000.

‘Lucrative prospects’: ArawakX refutes $2.4m insolvency woes

The Bahamas’ first-ever crowd-funding platform is asserting it has “lucrative prospects” rather than a $2.4m solvency deficiency as it bids to defeat the Securities Commission’s bid to wind-up its operations.

Bank client switch raises questions

A Central Bank-appointed administrator has transferred former Lucayas Bank (PIB) clients, and their assets, to another Bahamas-based institution whose ultimate principal has since been charged with bribery in the US.

Archdeacon William Thompson Softball Park rededicated

PRIME Minister Philip ‘Brave’ Davis assured the public that his administration will not allow the public parks to go into the deteriorating state that previous administrations left the Southern Recreation Grounds in.

Attorney must pay $165k over ‘forged’ bank drafts

A Bahamian attorney has been ordered to pay Scotiabank some $165,000 after his business account became overdrawn due to two bank drafts that were discovered to be “forgeries or counterfeit”.

Cruise island expansion to drive 149% visitor rise

Visitors to a cruise line’s Bahamian private island are forecast to increase by more than 427,000 per year once two piers are constructed to allow its vessels to properly dock, it has been revealed.

Fraudsters plunder $2m through bank’s blunder

A Bahamian financial institution’s “serious error and negligence” resulted in fraudsters plundering more than $2m from one of its client’s accounts, the Supreme Court has revealed.

‘No bang for the buck’: Insurer eases off motor

A Bahamian insurer says it is “shying away” from providing third-party motor coverage because “the bang for the buck is not worth it” when returns are weighed against potential losses.

'Misunderstood' on gasoline VAT cap

Abaco's Chamber of Commerce president believes the Government may have "misunderstood" calls for it to cap - not cut - the amount of VAT it earns on gasoline sales in a bid to ease inflationary pressures in the Family Islands.

BUSINESS BITES: Sebas happy playing to contented customers

When I visited the East Bay Street head office of Investar Securities at 10am on Monday June 3, a dozen citizens were already there waiting to subscribe to either of the two Titan Mutual Funds being launched.

Insolvent broker: $2.76 owed by affiliates 'could alter significantly'

THE sums owed to Owen Bethel's insolvent Montaque Capital Partners by affiliated companies "could differ significantly" from the initial $2.76 million estimate, liquidators for the Bahamian broker/dealer have warned, as they continue to also probe deals linked to Mr Bethel's family.

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