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Bahamas 23rd as captive domicile

The Bahamas Financial Services Board (BFSB) has hosted a half-day Insurance Industry briefing, in collaboration with the Insurance Commission, the Ministry of Financial Services and the Insurance Institute of the Bahamas.

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BLTA hosts play tennis programme

THE Bahamas Lawn Tennis Association (BLTA) through its Play Tennis programme is giving youth an opportunity to learn the sport.

Drug bust nets $1m of cocaine

FREEPORT - A major drug bust was made at the Freeport Container Port where nearly $1 million worth of cocaine was discovered. This is the first major drug seizure on Grand Bahama for 2014.

Bank pledges openness before AGM ‘fireworks’

Bank of the Bahamas executives yesterday pledged they would be “upfront” and detail “everything” about its future plans, amid suggestions there would be “fireworks” from disgruntled shareholders at tonight’s annual general meeting (AGM).

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Blacklist ‘factor’ fear on bank Business Licence

A commercial bank chief yesterday questioned whether the Government’s plan to reimpose Business Licence fees on the sector could revive a situation that caused The Bahamas’ 2018 blacklisting by the European Union (EU).

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Property Fund in 'waiting game' via 20%+ vacancies

VACANCY rates of more than 20 per cent at its two main properties have left the BISX-listed Bahamas Property Fund in "a waiting game", its administrator said yesterday, with its bottom line "not going to change much" until new tenants were attracted.

Chelsea, Liverpool reach FA Cup semifinals

By ROB HARRIS AP Sports Writer LONDON (AP) -- Fernando Torres ended a 26-game goal drought as Chelsea reached the FA Cup semifinals on Sunday, and Liverpool ensured a second trip to Wembley Stadium this season on a weekend overshadowed by concern over cri

Public sector debt drops $93m during first quarter

Total public sector debt fell by $93m during the first quarter of the 2023-2024 fiscal year, it was disclosed yesterday, cutting it slightly from its June peak as the foreign currency share fell by 1.5 percentage points.

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Insurance cuts Aliv's Dorian cost to $2.5m

Aliv’s subscriber base grew by 20 percent during the final six months of 2019, its top executive revealed yesterday, after the mobile operator shrugged off $2.5m in one-off net Dorian costs. Damian Blackburn told Tribune Business it had “recovered a

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Leading banker hits out over VAT ‘maze’

The Government “created a maze” for the Bahamian private sector and consumers when it abandoned the low-rate, broad base VAT model, a prominent banker is arguing.

EDiTORIAL: Fix the Real Property Tax debacle

DONALD Trump wants a wall to keep foreigners out. The Bahamas didn’t have to build a wall. All the government had to do was create a high enough rate for real property tax for residences owner-occupied for less than six months of the year and they could not only effectively keep those who might have been interested in a second home from choosing The Bahamas, they could entice those already invested in second homes to pack up and leave.

BTC owner predicting 'light at end of tunnel'

The Bahamas Telecommunications Company’s (BTC) ultimate owner yesterday said there was “light at the end of the tunnel” in its battle to fight off Aliv’s competitive threat.Balan Nair, Liberty Latin America’s chief executive, told a conference call i

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URCA modifies renewable mechanism at BPL urging

Regulators have modified their much-criticised compensation proposal for larger grid-tied renewable energy systems at Bahamas Power & Light’s (BPL) urging, it was revealed yesterday.

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Fidelity eyes $21m-$22m profit following ‘overshoot’

A BISX-listed bank is targeting full-year net income of $21m-$22m after its exceeding its budgetary target during the first nine months of 2021, its chief executive revealed yesterday.

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Crunch time for NIB on payouts

CRITICAL decisions will have to be made regarding the National Insurance Board and the administration of contributions it collects to ensure there remains longevity of the social security net’s benefits, according to a Cabinet minister yesterday.

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Fidelity targets $25m full-year profitability

A BISX-listed bank yesterday said it is on target to beat 2018’s earnings growth and deliver $25m in full-year profits despite the absence of first quarter loan book expansion.

FINCO: Bad loans six times' higher than pre-08 crash

RBC FINCO yesterday said that while its non-performing loan portfolio had “stabilised” at a total $104 million, this represented a sum up to six times’ the worth of pre-recession bad loans.

$30m VAT redistribution shows tax’s ‘inefficiency’

A well-known businessman yesterday suggested that the Government’s plan to redistribute $30 million in Value-Added Tax (VAT) revenues to prevent it from increasing poverty levels exposed the “inefficiency” of its preferred tax reform option.

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FamGuard closes on Freeport HQ purchase

FamGuard (Bahamas) is closing on the acquisition of a new headquarters for its Freeport operations, while also gearing up for the “imminent” launch of its ‘simplified issue’ life product.

Cable predicting 130% profit growth to 2018

Cable Bahamas is forecasting that net income will increase by 130 per cent over the next five years as a result of its Florida expansion, with its US interests ultimately accounting for one-third of its bottom line.