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Property value boost drives insurer’s 39% profit increase
A $3.2m gain from revaluing its property assets enabled Bahamas First to shrug off a decline in its core insurance underwriting business and post a 39 percent total comprehensive income increase for the 2022 full-year.
Samuel P Haven Junior High Schools Soccer Nationals
THE Samuel P Haven Junior High Schools Soccer Nationals returned to the Roscow A L Davies soccer field for the third consecutive day. Yesterday’s trio of games saw the girls of Lyford Cay International School take on the Anatol Rodgers Timberwolves.
Baha Mar 'close' to $150m spend on Bahamians
BAHA Mar is "close" to investing $150 million with Bahamian contractors for its Cable Beach redevelopment, as it prepares to today launch the $2.6 billion project's 300 luxury Residences to high net-worth buyers from across the world in London.
First $10m recoveryfor CLICO creditors
Some $10 million raised from selling the property that accounts for 63 per cent of CLICO (Bahamas) assets has been returned to this nation for the ultimate benefit of the i
Gov't pays down $6.3m on Water Corp receivables
THE Government spent $6.3 million of taxpayer monies last month to pay down the $8.2 million bill the Water & Sewerage Corporation had run-up with BISX-listed Consolidated Water, it was revealed last night, with the latter's Blue Hills plant driving a 41 per cent increase in its 2012 bulk water revenues
Cable chief optimistic $2.8m profit is trend
Cable Bahamas’ top executive is voicing optimism that $2.8m first quarter profits represent the start of a trend with its fibre network set to cover all New Providence “on a home pass basis” by year-end 2023.
Comets, Hurricanes repeat as junior soccer champions
The junior portion of the Bahamas Association of Independent Secondary Schools Sports (BAISS) Soccer Championships is officially in the books.
Financial industry hails ‘certainty’ on tax residency
Financial services executives yesterday hailed the government’s plans to codify its tax residency initiative via legislation as providing “certainty and transparency” for both investors and global regulators.
Minister ‘shocked’ at NAD outlook cut
A Cabinet minister is “a little shocked” that a top rating agency slashed its Nassau Airport Development Company (NAD) outlook to “negative” despite the premier gateway enjoying a “record” 2019.
BTC owner: Abaco 'a humanitarian disaster'
The Bahamas Telecommunications Company’s (BTC) owner is eyeing fixed wireless solutions to reduce construction costs associated with rebuilding network infrastructure in Abaco post-Dorian. Balan Nair, Liberty Latin America’s (LiLAC) chief executive,
External reserves to end 2022 ‘not far from’ $2bn
The Central Bank’s governor yesterday predicted that The Bahamas’ external reserves will end 2022 “not far off $2bn” and ensure the US dollar exchange rate peg faces “no undue pressure”.
Businesses ‘test water’ over extra night hours
Super Value’s principal yesterday said the supermarket chain plans to “test the waters” with 8pm closings after the nightly curfew was eased but voiced scepticism the move would increase sales.
Cruise port profitability matches ‘lock up’ end
Nassau Cruise Port is forecasting that it will start generating profits by 2024 - a timeline that coincides with the end of a three-year “lock-up” for investors in its 49 percent local shareholder.
Brewery suffers loss on $2.7m cost one-offs
Commonwealth Brewery has blamed a six-figure loss for the 2019 first quarter on $2.7m in one-off expenses linked to restructuring, staff lay-offs and Kalik Light’s re-branding.
New roles fail to halt jobless rise
THE country’s unemployment rate has increased since November 2018 despite the addition of just over 2,300 jobs to the labour force.
Gov't to reconfigure Bank of Bahamas Board
The Government is moving to reconfigure the Board of BISX-listed Bank of the Bahamas International, whose annual general meeting (AGM) has been delayed by the wait for directors to be named.
Outrage over Wall Street pay, but shrugs for Silicon Valley?
Big paydays on Wall Street often come under laserlike scrutiny, while Silicon Valley gets a pass on its own compensation excesses. Why the double standard?
Companies registry upgrades to boost Asian penetration
Online incorporations at the Companies Registry will give the Bahamas “much more of an upbeat message” to use when it begins “concentrated” efforts to penetrate the Asian financial services market in 2014, Tribune Business was told yesterday.
Freeport services VAT's 'checks and balances'
Despite criticism that the Government’s plan to levy Value-Added Tax (VAT) on services transactions between Grand Bahama Port Authority (GBPA) licensees would likely generate zero revenue for the Public Treasury, a senior finance official yesterday suggested the move was more about “checks and balances”.
Top official challenges Galleria’s ‘distortion’
The Ministry of Finance’s top official yesterday said he could not allow Galleria Cinemas’ assertion that Value-Added Tax (VAT) was responsible for a 17.6 per cent increase in its prices “go unchallenged”.
