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Bahamians ‘can’t have it both ways’ on economic model

Bahamians cannot have it both ways over this nation’s economic model, a top private sector executive yesterday arguing that free market capitalism could not simultaneously co-exist with “socialist safety nets”.

Happy investors, angry consumers

ActivTrades

While the population is carrying the burden of high electricity and gas prices, energy companies are reporting record profits and making their investors happy.

Getting online catches business in your net

Some years ago, companies were facing the all-important question of whether or not to take their business online or not.

Pledge to create safety net for lost jobs and homes

FREEPORT - PLP leader Perry Christie said his party will create a safety net to prevent Bahamians losing their homes or jobs.

Chelsea wins first leg 1-0

By STEVE DOUGLAS AP Sports Writer LONDON (AP) -- Didier Drogba swept the ball into the net late in the first half, and Chelsea managed to hang on. With an inspired performance, the Blues beat Barcelona 1-0 Wednesday night in the first leg of their Champio

FamGuard payouts drop $3.7m on COVID fall-out

Family Guardian's chairman has attributed a $3.7m decline in policyholder payouts for the nine months to end-September 2020 to a fall-off in medical claims caused by COVID-19.

College clerk ‘paid herself extra $640k’

AN internal investigation at the College of the Bahamas (COB) in 2015 revealed how within seven years, former employee Chimeka Gibbs took home approximately five times more than her net salary, Supreme Court jurors heard yesterday.

New Brewery posts to ‘hold job lossed at 43’

A CABINET minister yesterday voiced optimism that Commonwealth Brewery’s creation of 30 new posts would minimise recently-unveiled job losses to a “net” 43.

BPL can pass license fee on to consumers

The Utilities Regulation and Competition Authority (URCA) has rejected Bahamas Power & Light’s (BPL) argument that fuel costs not be included in the calculation of its annual license fee.

Environmentalist: Oil will change Bahamas instantly

Wall Street will “immediately revise” its opinion on the Bahamian economy’s prospects and fiscal outlook if commercial quantities of oil are discovered in this nation, a local environmental expert believes.

Getting caught in the VAT net

Value-Added Tax (VAT) is a levy on profit in terms of the difference between the input cost and the amount billed. The Bahamian model is still evolving. No doubt, there will be more exemptions and exceptions. That said, we will undoubtedly be implementing it. The only doubt is when this will happen.

Arawak port eyes 40% profit growth

The Arawak Port Development Company (APD) is projecting a 40.2 per cent net income increase for its 2015 financial year, while raising security and tax evasion concerns over Potter’s Cay and Family Island ports.

CIBC: Bahamas worst for ‘bad’ mortgages

CIBC’s top Caribbean executive yesterday revealed that the “magnitude” of non-performing home loans in the Bahamas was “greater than anywhere else” in the region, this nation accounting for 50 per cent of the bank’s ‘bad’ mortgages.

Bank of Bahamas in further $6.5m loss

Bank of the Bahamas appears to have incurred a further $6.511 million net loss for the first quarter of its 2015 financial year, its top executive describing the past 12 months as “the most challenging for me personally”.

BEC breaches $100m bond issue conditions

The Bahamas Electricity Corporation (BEC) breached the financial terms of its existing plan $100 million bond issue, forcing it to seek a four-year waiver from investors.

BOB shedding ‘haunted’ past with 20% growth goal for ‘23

Bank of The Bahamas top executive yesterday asserted it is moving beyond the bail-outs that “will forever haunt” the institution with predictions it will grow this year’s forecast $7m profit by a further 20 percent in 2023.

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".

The Tribune

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