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Delinquent mortgage buyer gives insurer $8m ‘windfall’
A Bahamian insurer yesterday said it is targeting a 15 percent profit increase for 2022 once the $8m “one-off windfall” it enjoyed last year from its investment in a delinquent mortgage buyer is stripped out.
Taylor Industries staff gain 33% of severance
Forty-one former staff of now-defunct Taylor Industries will receive just 33 percent of the total termination pay and benefits owed to them in what the company’s liquidator defended as “a relatively positive outcome”.
US to freeze PI ‘Raider’s’ $21m
US regulators have moved to freeze three Bahamian bank accounts owned by the Paradise Island “Raider” as they bid to seize $21.1m in “ill-gotten gains” generated by a $100m multinational securities fraud ring.
Raising the rates for NIB
So, PM Davis will not increase the level of NIB Contributions although the experts, the IMO actuaries say NIB must have higher contributions and experts for 10 plus years have been telling Government it is a must..
Bahamas can be ‘first out gate’ over carbon credits
The Bahamas has “the ability to be first out the gate” in the Caribbean, and earn a potential multi-million dollar boost from the climate change fight, through legislation tabled in Parliament yesterday.
Carbon bill ‘first step’ in bringing payments
PRIME Minister Philip “Brave” Davis said yesterday that the Climate Change and Carbon Market Initiatives Bill 2022 is his administration’s first step in securing carbon credit payments for The Bahamas.
WORLD VIEW: Developing countries also victims of Ukraine war
IN the words of UN Secretary-General, Antonio Guterres, the war on Ukraine by Russia “is fast becoming a matter of life and death for vulnerable people around the world”.
'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.
Gov’t touts 26% VAT rise despite rate cut
The Ministry of Finance’s top official has touted a 26 percent VAT revenue increase, compared to pre-COVID numbers, for the first two months of calendar 2022 as a signal that the rate cut has not impacted government revenues.
Bahamians must pay for benefits they want
A prominent financial analyst says Bahamians cannot expect to remain “a low tax jurisdiction” while expecting to enjoy the same social security benefits as developed nations.
Who gains from a long war?
Greed is an antidote to good judgment. The profit-oriented military industrial machine that drives western countries to pursue endless wars is simply incapable of sensitivity to the fact that, thanks to its antics, the world is now closer to self-destruction than at any point during the Cold War, which ended in 1989.
Rising to local govt challenge
RISE Bahamas, an advocacy group, has launched its Imagine Local Government campaign joined by partners, Organisation for Responsible Governance (ORG) Bahamas and One Bahamas in Nassau.
STATESIDE: The history of Germany and Russia’s relationship
FOUR months ago this morning, America was in solemn remembrance of an infamous, consequential day that would shape the nation’s history for decades. December 7, 2021, was the 80th anniversary of the surprise attack by Japanese military forces on the sprawling American naval base at Pearl Harbour in Hawaii.
‘All-time high’ demand to offset tourism risks
The Bahamas Hotel and Tourism Association’s (BHTA) president yesterday voiced optimism that “all-time high” travel demand will help offset newly-elevated Central Bank concerns about the “downside risks” facing the sector.
External reserves jump on banks’ $84m inflow
The Bahamas’ external reserves grew by almost $55m in February 2022 as commercial banks collectively received a net $84.2m foreign currency inflow from their customers.
Kai Jones recalled to Hornets
Kai Jones completed a dominant rookie season in the NBA G-League with the Greensboro Swarm and was recalled to the Charlotte Hornets following the season finale.
BOB appoints first ever female chair
Bank of The Bahamas yesterday said it has appointed its first-ever female chair with attonery Donna Harding-Lee taking over the post with effect from March 18 following the necessary Central Bank approval.
Airport in $8.1m operating loss before Gov’t purchase
Grand Bahama International Airport suffered an $8.129m operating loss in the two-and-a-half years leading up to its 2021 purchase by the Government, which is aiming to select the preferred bidder to redevelop this asset by August 2022.
AML shrugs off inflation, ‘out-of-stocks’ concerns
Excluding one-off Dorian gains, AML Foods generated a 3.8 percent net profit increase for its 2022 third quarter despite grappling with inflation and supply chain issues that produced “high levels of out-of-stock” products.
Cruise port’s $300m finish moved back to early 2023
The completion of Nassau Cruise Port’s $300m transformation has been pushed back to early 2023, its top executive has revealed, with $110m worth of landside and buildings construction now set to move into high gear.
