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‘Makes no sense’: Realtors challenge tax crackdown plan
Prominent realtors yesterday warned that the government’s plan to target delinquent commercial property owners by seizing their tenants’ rent “makes no absolutely no sense”.
IMF calls for austerity in the ‘hundreds of millions’
The International Monetary Fund (IMF) yesterday exposed the harsh austerity Bahamians face post-COVID by urging the government to increase its “net income” by more than $300m over four years.
‘Farcical’: Govt picks up ‘entire’ $40m BOB issue
Bank of the Bahamas’ 3,000 minority shareholders have demonstrated their “complete lack of confidence” in the bank after forcing the Government to pick up its “entire” $40 million rights offering.
INSIGHT: Cable Bahamas - a text book case on how it should be done
The comprehensive Annual Report of Cable Bahamas, the country’s largest non-bank company, should be read not only by its shareholders but by anyone interested in how a multi-division enterprise can thrive in our restrictive economic environment. With its current fiscal year extended by six months to June 30, 2017, the report tells a story stretching over 18 months, the most crucial period since Cable’s founding over 20 years ago.
Bulk property tax discount 'win-win'
The Government can "get an immediate cash injection" worth potentially hundreds of millions by implementing a series of discounts for bulk real property tax payments, a prominent realtor said yesterday.
'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. Tim Ingraham, Summit Insurance Company’s president, told Tribune Business that the underwriter’s 48.1
BTC eyes 2019 'bottom' after 12,400 client loss
The Bahamas Telecommunications Company’s (BTC) owner yesterday said its mobile subscriber loss “will bottom out in 2019” after another 12,400 customers exited in this year’s third quarter.Balan Nair, Liberty Latin America’s (LiLAC) chief executive, t
Moody’s throws wrench into PLP’s VAT cut plan
The Davis administration’s pledge to slash the VAT rate to 10 percent has been undermined by Moody’s downgrade of The Bahamas’ creditworthiness, Tribune Business was told yesterday.
BTC chief: We must ‘bottom out’ in 2019
The Bahamas Telecommunications Company’s (BTC) top executive yesterday said it needs “to act like the market leader it is”, while warning that mobile subscriber losses must “bottom out” in 2019.
Bahamas Waste shrugging off' squeeze' via 100% profit rise
Bahamas Waste yesterday expressed confidence it would generate a 100 per cent net income increase for the 2012 full year, despite experiencing a margin increase caused by key equipment costs more than doubling.
Super Value: 131% fee rise 'big pill to swallow'
Super Value’s owner has described the impending 131 per cent increase in its annual Business Licence fee to $3 million as “a big pill to swallow”, and fears it will increase the cost of living.
AML targets $3.5-$4m in net income
AML Foods is targeting $3.5-$4 million in net income for its current financial year, its chief executive yesterday telling Tribune Business it was “confident” it could slash annual operating expenses by $1.5 million.
Banks face 169% tax burden rise
The Bahamian commercial banking is facing an estimated 169 per cent increase in its total tax burden to $43 million, Tribune Business can reveal, a development that could result in further lending and economic contractions.
Insurer exceeds goal 13% despite motor 'squeeze'
A Bahamian insurer yesterday said it beat 2013 profit targets by 13 per cent, but warned that an all-sides “squeeze” was now threatening an historic net income generator that accounts for almost one-third of its top-line.
Youth Regatta Champions emerge
Spencer Cartwright, Paloma Cartwright, Tahj Ramirez, MaClean Goodfellow and Alvin Lewis emerged as champions in their respective categories of the Bahamas Youth Olympic Regatta in Montagu Bay over the weekend.
Fidelity beats capital raising target by $5m
Fidelity Bank (Bahamas) has beaten its capital-raising target by $5 million, generating $23.5 million from a combination of preference shares and its debt paper programme.
Increase in jobs not keeping up with growing labour force
PRIME Minister Perry Christie yesterday said it would be “incorrect” for anyone to interpret the latest unemployment statistics as suggesting that net jobs have been lost in the Bahamian economy.
Demand for solar solutions 'never been greater'
The demand for solar energy solutions in The Bahamas “has never been greater” in light of “stability” concerns over the Bahamas Electricity Corporation’s (BEC) grid a renewable energy solutions provider said yesterday, telling Tribune Business that this nation was effectively “underpowered”.
‘Record growth’ for tourism according to bank report
TOURISM is showing “record growth” according to a new report from the Central Bank of The Bahamas - while economic growth continues at a moderate pace.
Gov’t in near-$40m deficit for August
The Government incurred a near-$40m deficit during August 2022 as it reclassified almost $35m of revenues earned in July as VAT, Ministry of Finance data released yesterday revealed.
