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Cable 'accelerates' fibre due to Elon Musk threat
Cable Bahamas is "accelerating" the roll-out of its fibre-to-the-home network infrastructure in response to the competitive "threat" posed by Elon Musk's Starlink, its chief executive revealed yesterday.
Bahamas gets '6 months' to escape new downgrade
The Bahamas has a “six month window” in which to stave off another credit rating downgrade through concrete fiscal reform actions, with Moody’s yesterday describing the Government’s planned $800 million correction as “enormous”.
Fidelity 'reverses' banking outsource
Fidelity Bank (Bahamas) has bucked the commercial banking sector’s overseas ‘outsourcing’ trend by consolidating back office operations in the Bahamas, a move that increased staff numbers by 6 per cent in 2013.
‘Distressing’ NHI threat to 60% of FamGuard revenue
Family Guardian’s president fears the “worrisome and distressing” National Health Insurance (NHI) uncertainty will threaten a business that accounts for 60 per cent of his top-line.
Fidelity: 45% profit increase shrugs off licence fee tripling
Fidelity Bank (Bahamas) yesterday shrugged off a “near tripling” of its Business Licence fees to deliver a 45 per cent year-over-year net income increase for 2014.
Fidelity cuts profits target by $2-$2.5m
Fidelity Bank (Bahamas) has cut its full-year profit forecast by $2m-$2.5m after incurring more upfront costs than anticipated with the ongoing roll-out of its merchant and card services.
Gas retailers: ‘This is the time’ for margin increase
Bahamian petroleum retailers yesterday urged “this is the time” to grant a margin increase following last week’s 64-cent price drop with many said to be on the brink of “throwing away the keys”.
$7m overspend on sports events
BAHAMIAN taxpayers incurred an extra $7m bill to cover cost overruns for two much-hyped sporting events that were hosted last summer, the Government’s financial watchdog has revealed.
‘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.
