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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”.
Reflating economy aids $11.843bn debt burden
The Bahamas’ $11.843bn national debt at end-March 2022 has dropped below this nation’s economic output due to the continued post-COVID-rebound, resulting in a debt-to-GDP ratio of around 98.4 percent.
THE PRESS BOX: THE SECOND TIME AROUND
THE big question for the Lakers now is how they can further improve their roster in free agency. They have holes to fill after trading the likes of Lonzo Ball and Brandon Ingram and Josh Hart, in order to acquire Davis. They would presumably like to
City Markets job fear
TENSIONS remain high as 400 City Market employees are still unsure about the future of their jobs. According to Rosalie McKenzie, Bahamas Commercial Stores, Supermarkets and Warehouse Workers Union (BCSWWU) administrator, as talk persists of the impending closure of City Market's four remaining stores, employees are worried they will be left without compensation - especially as some of them have not been paid for three weeks.
DOUBTS OVER SMITH’S ‘ABSURD’ ASSET CLAIM: Sands asks how can former passport chief not have bank account
DR DUANE Sands ripped into Kingsley Smith’s financial declarations for the West Grand Bahama and Bimini by-election, insisting the PLP’s candidate has “absurdly” implied that he does not have a bank account.
CIBC’s corporate unit in 40% bad loan shrink
CIBC FirstCaribbean’s Bahamian corporate and investment banking unit saw non-performing loans shrink by almost 40 per cent in its 2016 financial year, as the bank continued its “solid” recovery from past credit provisioning.
DNA pledges $90m boost via Business Licence overhaul
The Democratic National Alliance (DNA) yesterday pledged to return $90 million to Bahamian businesses and the wider economy by reducing Business Licence fees to a nominal sum.
UPDATED: Christie loses Centreville seat by four votes
DESPITE eight consecutive terms as Centreville’s member of Parliament, former Prime Minister Perry Christie’s loss of the seat became official on Friday after an all-night recount revealed that he lost to Free National Movement (FNM) newcomer Reece Chipman.
Financial services 'challenged' to grow
Global pressures continue to impact the Bahamian financial services industry, the Deputy Prime Minister saying it remains” challenged to maintain and grow market share”.K P Turnquest told a Securities Commission industry briefing that while wealth co
Five years in jail for ringleader in housebreaking and theft group
A 35-year-old man was convicted and sentenced yesterday to five years in prison in connection with a five-month long housebreaking and theft ring which netted an estimated $13,916 in stolen property.Tiffalo Johnson, of Native Yard, East Street North,
Health insurer's Bahamas exit to be 'orderly'
Regulators yesterday said they expect a “very orderly wind-down” of a Bahamas-based health insurer as it readies to exit the market by December 2021. Michele Fields, the Insurance Commission’s superintendent, confirmed to Tribune Business that Gener
Bahamas First closes $4.28m premium 'gap'
Bahamas First’s top executive yesterday said the insurer has largely closed a $4.276m premium income “gap” that opened towards the 2020 first quarter end due to the COVID-19 lockdown. Patrick Ward, the property and casualty underwriter’s president a
Credit Bureau ‘eye opener’ for debt-laden Bahamians
The proposed Credit Bureau will be an “eye opener” for many Bahamian consumers when it exposes just how heavily indebted they are, the Central Bank’s governor said yesterday.
