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SPORTS NOTES
PARADISE ISLAND GOLF TOURNEY
Central Bank urged: ‘Step in’ over BOB’s $100m loss
The Central Bank of the Bahamas has been urged to “step in and take control” of Bank of the Bahamas, after shareholders lost almost $100 million in two years.
$10m bond deepens Gov’t BOB bail-out
The “full-scale” taxpayer bail-out of Bank of the Bahamas has deepened, with the Government taking up its entire $10 million bond issue amid a 51.3 per cent increase in half-year losses.
Atlantis 'strong': Up 27% with Baha Mar
Top Atlantis executives “feel strongly” that Baha Mar’s emergence will not impact their long-term performance after net operating income jumped 27 percent for the 2018 first quarter.The Paradise Island resort’s confidence in its ability to see-off it
VAT's $165m revenue slump 'far off range'
The Government yesterday slammed as “far off range” a study suggesting Value-Added Tax (VAT) implementation would produce a $165 million decline in its total annual revenue intake.
BOB’s ‘problems much bigger’ than Resolve bail out
Bank of the Bahamas’ continued quarterly losses show it has “much bigger problems” than the $100 million in ‘bad’ loans already removed from its balance sheet, the Opposition’s deputy leader said yesterday.
Bank unable to recover 95% of VAT ‘inputs’
Commonwealth Bank yesterday predicted it would be unable to recover 95 per cent of its Value-Added Tax (VAT) input payments, given that ‘exempt’ revenue streams form the bulk of its income.
BTC left 'flat' by price/cost cutting
The Bahamas Telecommunications Company’s (BTC) controlling shareholder yesterday blamed its “flat” first-half financial performance on preparations for cellular competition, with net income matching last year’s $37 million.
Insurer beats 2015 profit goal by 7.3%
A Bahamian property and casualty insurer yesterday revealed it had beaten its own 2015 profit expectations by 7.34 per cent, even though its bottom line declined by almost $700,000 year-over-year.
$102m Baha Mar plant 'net project benefit'
Alternatives to the current design of Baha Mar’s proposed $102.3 million Seawater District Cooling (SDC) plant are not viable, its proponent arguing that the project has a “net benefit” and will cause only minimal coral loss in “an already degraded area”.
Governor trims growth forecast ‘closer to 4%’
The Bahamas’ stopover visitor numbers rebounded to 97 percent of pre-COVID levels in the 2023 first quarter, the Central Bank’s governor said yesterday, while slightly trimming his full-year economic growth forecast.
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.
Bank warns on provisions rise
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" with the inability to rapidly sell distressed real estate assets.
Aviation industry 'not given its due'
Aviation industry 'not given its due' By NEIL HARTNELL Tribune Business Editor Developing a Bahamian aircraft registry could ultimately lead to spin-offs such as a "maintenance facility equivalent in size to Miami", an attorney yesterday urging: "Now is
Target ‘big boys’ first with corporate taxes
The Bahamas should initially only target companies generating more than $5m or $10m in annual net profits with a corporate income tax, a well-known attorney is arguing.
Development Bank eyes 37% loss fall
THE Bahamas Development Bank’s (BDB) chairman expects a 37 per cent reduction in its 2017 net loss to $1.2 million, and pledged: “We are headed in the right direction.”Lynden Nairn told Tribune Business in a recent interview that the Board is laying
BTC suffers $30m blow from Dorian
The Bahamas Telecommunications Company (BTC) has been dealt a $30m blow by Hurricane Dorian with network repairs set to last into 2020, it was revealed last night.
‘Unusual’ claims volume knocks Summit off peak
A Bahamian insurer has blamed “an usually large number of claims” for a non-hurricane year resulting in 2018 profits being slashed almost in half.
You get less time for manslaughter – what judge said as woman appeals against sentence for COB theft
APPELLATE judges yesterday questioned whether a Supreme Court judge was right in sentencing a former College of the Bahamas employee to potentially 20 years in prison for stealing over $700,000 from the institution over a seven-year period.Appellate
BUSINESS BITES: Some welcome clarity from Cable Bahamas
In its quarterly financial report through March 31, 2019, Cable Bahamas for the first time has added management comments to the usual bare-bones figures —a practice that should become standard for all BISX-listed companies.
