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'Struck by abuse' of 15% VAT's exemptions
The New Zealand tax consultants were “struck by the potential for abuse” created by the “substantial list of exemptions” under the Government’s initial 15 per cent Value-Added Tax (VAT) model.
Energy self-generation plan ‘confusion’ worry
The Government was last night warned that its energy self-generation initiative would cause “some confusion” without further clarification, although it was praised for getting renewables “out of the starting blocks”.
Nightclub raid nets women for solicitation and immigration offences
FOURTEEN women - 12 Jamaican and two Bahamian - have been arrested for solicitation and immigration infringements after a nightclub raid by Flying Squad officers on Friday night.
BEC: 2013 loss increased to massive $58m
The extent of the task awaiting the Bahamas Electricity Corporation’s (BEC) new manager has been exposed by its 2014 annual financial statements, which reveal that the utility’s net loss for the prior year has been increased to a mammoth $58.035 million.
‘No doubt’ BoB will be profitable by end-2015
Bank of the Bahamas’ managing director yesterday said he had “not one doubt” the institution will return to profitability by December 2015, despite its shareholders incurring a collective $9.895 million net loss for the current year’s first six months.
Insurer: Hurricane season end ‘can’t be soon enough’
A TOP Bahamian insurance executive says the official end to the 2022 hurricane season “can’t come soon enough” given that Hurricane Ian will further “tie our hands” on premium prices for local consumers.
Bank warns on provisions rise
By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling
Bank warns on provisions rise
By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling
RoyalStar profits quadruple amid premium 'hardening'
ROYALStar Assurance’s chairman has warned Bahamian insurance consumers to brace for “hardening” premium prices, following a storm-free 2017 in which its profits more than quadrupled.Sir Franklyn Wilson, writing in the property and casualty insurer’s
Hall says it’s not his job to check disclosures accuracy
AMIDST mounting controversy over the accuracy of disclosures filed by election candidates last week, both Parliamentary Commissioner Sherlyn Hall and Public Disclosure Commission Chairman Myles Laroda said yesterday they were not responsible for verifying the data put forward by candidates, insisting that responsibility lies with other government agencies.
Insurer 16-17% ahead of target if no Matthew
A Bahamian general insurer yesterday said it would have beaten 2016 profit forecasts “by 16-17 per cent” had it not been for Hurricane Matthew, which blew gross claims 69.4 per cent higher than its previous record.
BOB gains $56.7m Treasury Bill boost
Troubled Bank of The Bahamas (BOB) has received a further $56.7m boost from the Government in the form of Treasury Bills, as it recorded its first full-year of profitability since 2012.The BISX-listed institution’s unaudited financial statements for
Insurers warned: Do not keep 'eggs in one basket'
A top insurer says Bahamian underwriters will find it increasingly difficult to survive “long-term” unless they diversify into other territories.Patrick Ward, Bahamas First’s president and chief executive, told Tribune Business in a recent interview
NIB in cash flow boost via $139m NAD refinancing
The National Insurance Board (NIB) will receive a cash flow boost in return for smoothing the $139.1m refinancing of Nassau’s airport operator, a Cabinet minister said yesterday.
Fountain, Wright cart off first crown in King Eric Memorial
THE seasoned team of Harry Fountain and Fred Wright carted off the first gross crown in the second annual King Eric Memorial Golf Tournament.
BISX-listed fund targets 50% cut to vacancy rates
The BISX-listed Bahamas Property Fund is aiming to slash vacancy rates by around 50 per cent at both its flagship properties over the next two years, after seeing its net income for the first nine months last year fall 28 per cent.
Make your domain your own
I like the Japanese proverb that says: “Tigers die and leave their skins, while people die and leave their names”. If this is accurate, let’s look at the significance of other name types. I am sure you’d agree that practically everyone, and everything is known, labelled, tagged or remembered by names.
FamGuard's 36% profit rise meets 'strong expectations'
Family Guardian’s holding company met “strong budgetary expectations” for 2013 with a 26.3 per cent comprehensive income rise, with net assets boosted by over $20 million via the consolidation of its mutual fund family.
Relaxed lending rules for domestic credit
THE Central Bank of The Bahamas is relaxing the guidelines for domestic banks and credit unions around the qualification criteria for provision of credit to the private sector. This takes account of the domestic economy’s increased capacity to sustainably absorb more credit expansion, given the potential for credit growth to stimulate greater imports and increase the net use of foreign exchange.
UKRAINE BEATS SWEDEN 2-1, FRANCE DRAWS 1-1 WITH ENGLAND
By MATTIAS KAREN AP Sports Writer KIEV, Ukraine (AP) -- Andriy Shevchenko trumped Zlatan Ibrahimovic on Monday, scoring two great headers to give Ukraine a 2-1 win over Sweden at the European Championship. After Ibrahimovic had given Sweden the lead in th
