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Cut 'terrifying' bad loan rate by over 50%
The Central Bank’s governor wants to further cut the “terrifying” 8.7 percent loan delinquency rate by more than half despite it having fallen to its lowest level in a decade.While describing the consistent decline in non-performing bank loans as “ve
Sebas fund no Island Luck 'back door' IPO
The two mutual funds launched yesterday by Sebas Bastian’s new investment house are not an alternative “back door” to an Island Luck initial public offering (IPO), top executives said.
BTC is owner’s ‘most inefficient’ subsidiary
The Bahamas Telecommunications Company (BTC) was yesterday branded “our most inefficient business” by its owner despite mobile customer losses dropping to a record quarterly low.
Breezes chief: Baha Mar price fears 'a distraction'
SuperClubs Breezes’ owner yesterday branded concerns over Baha Mar’s rate discounting as “a distraction”, warning: “We’ll all go hungry if we don’t expand airlift.”John Issa told Tribune Business that the Nassau/Paradise Island resort industry “can’t
Minister pledges cruise line reset
The Minister of Tourism yesterday said the Bahamas must reset its relationship with the cruise lines, adding: “They make all the money, and we have nothing.”Dionisio D’Aguilar told Tribune Business that this nation needs to “be a little more aggressi
Bahamas facing multi-billion debt rise every five years
SUCCESSIVE governments will continue adding $1 billion-plus to the national debt every five years without structural reforms and greater GDP growth, an ex-finance minister saying: “I saw this coming 13 years ago.”
Developer urges: Don’t ‘destabilise’ residency market via $1m mark
A Bahamian developer is urging the Government not to suddenly “destabilise” the real estate market through plans to change the permanent residency threshold, expressing concern for his $60-$70 million in active sales.
Unions seek 20-fold employer fines rise
Bahamian trade unions are pushing labour law reforms that will impose a 20-fold increase in financial sanctions on businesses and an exorbitant redundancy cost burden - while simultaneously removing restrictions on their operations.
Deficit ‘on target’ despite beating full-year by $54m
The Government’s top finance official last night asserted that the fiscal deficit remains on target even though it exceeded the full-year target by $54.3m after just five months.
Fidelity eyes $18m profit after ‘opening the hood’
A BISX-listed bank yesterday revealed it is targeting $18m in full-year profits for 2024 after “opening the hood” to assess why last year’s projections were missed.
Why You Vex? November 10th
“Vex cause the road works people seems to be slunking an taking so long even though many are hard working Bahamians.”
BTC 'not immune' from CWC's $100m cost push
By NEIL HARTNELL
BRONZE MEDAL WINNERS TREATED TO RECEPTION
BACK home after a successful showing at the ninth CAZOVA Junior Men’s Championships, the team was treated to a reception at the Ministry of Youth, Sports and Culture on Tuesday as the celebrations began for the Bahamas’ bronze medal performance over the weekend in Pointe-A-Pitre, Guadeloupe.
It's a first as Giants stun Jaspers 88-82
THE Manhattan College Jaspers were hoping to return home to Riverdale, New York, with a perfect run through the Bahamas Basketball Federation’s 5th annual BTC Summer of Thunder Classic in the Bahamas.
BISX-listed firm's CEO faces 'grilling' over alleged fraud
The chief executive of a BISX-listed company faces a grilling from liquidators investigating an alleged multinational fraud, who are seeking information on a series of multi-million dollar transactions involving his company.
Immigration 'driving business from nation'
The Immigration Department was yesterday accused of “systematically driving business from this country”, as the Government moved swiftly to contain any negative fallout from Tuesday’s detention of a top UBS (Bahamas) executive.
Receivers accused of 'outrageous privacy invasion'
A Bahamian realtor has accused the former receivers for Abaco’s Orchid Bay project of “an extensive and outrageous invasion of privacy”, and denied inferences that he or his family had “behaved in any way fraudulently”.
CWC: $25m BTC deal 'price worth paying'
Cable & Wireless Communications (CWC) decided that $25 million was “a price worth paying” for peace with the Bahamian government, a London-based analyst yesterday describing their deal as “an elegant resolution”.
Ex-finance minister: Make VAT 'no more' than 7.5%
The proposed Value-Added Tax (VAT) rate should be “no more” than 7.5 per cent, a former finance minister argued yesterday, telling Tribune Business it would be “impossible” to properly implement the new tax by the July 1 target date.
VAT rate slash celebration seen as premature
A well-known businessman believes it would be premature to celebrate the Government’s decision to lower Value-Added Tax (VAT) to below 15 per cent, as it is unclear how much duty rates will now be cut.
