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Gov't pays down $6.3m on Water Corp receivables
THE Government spent $6.3 million of taxpayer monies last month to pay down the $8.2 million bill the Water & Sewerage Corporation had run-up with BISX-listed Consolidated Water, it was revealed last night, with the latter's Blue Hills plant driving a 41 per cent increase in its 2012 bulk water revenues
Realtor encourages 'moratorium' over 2% commercial tax
A LEADING realtor yesterday encouraged the Government to further stimulate the Bahamian real estate market through initiatives such as a "three-year moratorium" on commercial real property tax, and "incentivising" the development of vacant Family Island land.
FDI spikes by 'one third' to hit $1.5bn
By NEIL HARTNELL Tribune Business Editor Foreign direct investment (FDI) inflows into the Bahamas increased by "about one-third" in 2011 to hit $1.533 billion, a performance that the Central Bank of the Bahamas' governor yesterday said "significantly exc
10-15% alternative energy penetration within next decade
RENEWABLE energies could penetrate between 10-15 per cent of Bahamian homes and businesses within the next decade, a local provider telling Tribune Business yesterday that consumers were receiving "payback" on his company's solar water heaters in "less than a year".
Private sector's National Health fears unchanged
THE private sector's concerns over the proposed National Health Insurance (NHI) initiative have not changed since the first Christie-led administration introduced the scheme in 2006, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive warning on the further added cost burden it would impose.
Financial disclosures raise more questions
\IN THE April 20 edition of The Tribune newspaper, an interesting story was published under the heading: Money isn't Everything On The Declarations - Sometimes It's About The Plants. This of course was in reference to the financial disclosures of the 133 candidates after Nomination Day on April 17.
3-4% deficits are'becoming norm'
A former finance minister yesterday warned that fiscal deficits equivalent to 3-4 per cent of gross domestic product were "becoming the norm", after the Central Bank of the Bahamas revealed that it widened by $45.2 million or 27.6 per cent during the first eight months of the 2011-2012 Budget year.
Cayman ensures BahamasFirst model 'makes sense'
Bahamas First's 33-37 per cent market share meant it needed to diversify risk concentration outside this nation to "make our business model work in the long-term",
Brewery unveils'strong Q1' with44% profits rise
Commonwealth Brewery is today unveiling a "strong first quarter" for 2012 with net income up 44.2 per cent year-over-year, its management team telling Tribune Bus
Brewery aims to be 'supplier of choice'
Commonwealth Brewery's newly-appointed managing director yesterday said he wants the BISX-listed company to become the Bahamas' alcohol "supplier of choice", noting that it
PLP will put oil drilling to referendum
PLP LEADER Perry Christie promised the Bahamian people at a rally on Monday night that if successful at the polls, his party would put the question of oil drilling to a referendum.
'No doubt' over Fidelity revival: 144% profit rise
Fidelity Bank (Bahamas) chief executive yesterday said "there is no doubt we have turned the corner" after its 2011 total comprehensive income increased by 144 p
Cable below 2011 without SRG's $2m
Cable Bahamas' 2011 net income would have fallen below 2010 comparatives had it not been for the $2.022 million profit produced by its newly-acquired Systems Resource Group (SRG
J S Johnson net profit off 25% on big losses
J S Johnson yesterday said it had managed to maintain 2011 dividend levels in line with the previous year, despite suffering a 25.1 per cent net income drop as a result of net claims incurred by its Insurance Company of the Bahamas (ICB) underwriting affiliate more than doubling.
Benchmark 'comforts' Alliance in $2.5m loss
Benchmark (Bahamas) chief executive yesterday said the 'comfort letter' it provided last year to its Alliance Insurance Management subsidiary to affirm it was a going concern was not "a cause for worry", as the BISX-listed investment manager unveiled a $2.5 million net loss for 2011.
FamGuard profits 'over $6m' if not for Prime hit
FAMGUARD Corporation yesterday told Tribune Business it would probably have generated "in excess of $6 million" in net income for 2011 had it not been for the Prime rate cut, disclosing that it suffered "close to a $1.3 million hit" through the impact on its reserves and investment income.
Bahamian lawyer set to attend aviation summit
BAHAMIAN aviation law specialist, Llewellyn Boyer-Cartwright, is among 25 lawyers worldwide to be invited to a meeting dealing with aircraft leasing and mushrooming demand for specialised aircraft financing in Washington DC this month.
Atlantis primed for 'take-off to greater heights'
KERZNER International's completed $2.5 billion debt restructuring will pave the way to "a new take-off to even much greater heights" for its former Paradise Island properties, the minister of tourism and aviation believes, with the Government having all the Bahamian employment and tourism economy safeguards it wanted.
'Almost $900m' raised on LPIA redevelopment
THE Nassau Airport Development Company (NAD) yesterday told Tribune Business it had now raised "almost $900 million" via six separate financial transactions, having just closed the final $225 million round to fund Lynden Pindling International Airport's (LPIA) $409.5 million redevelopment.
Survey: It's neck-and-neck in Elizabeth
SUPPORT for both major political parties in Elizabeth is closely matched, according to a new survey, which puts candidates Dr Duane Sands and R
