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Cable pushes $97m debt repay to 2020
Cable Bahamas has secured a two-year extension for repaying $97.169m of debt that was falling due, and which had caused current liabilities to exceed assets by 95.6 percent.The BISX-listed communications provider, in its just-released annual report,
Bahamas developers blast OECD's 'cynical' targeting
Bahamas-based developers have blasted the OECD’s “cynical” attempt to ““de-legitimise” this nation’s key investment product by suggesting it threatens the global fight against tax evasion. The newly-formed Bahamas Developers Association (BDA), in a r
'Mergers' boost Fidelity funds' assets by $8m
RoyalFidelity Merchant Bank & Trust yesterday said it had used ‘mergers’ to increase the asset bases of its two oldest mutual funds by $8 million apiece, adding that a net $1 million subscriptions inflow into its equities fund indicated renewed demand for listed stocks.
Commission forces Benchmark into broker 'guarantee'
BISX-listed Benchmark (Bahamas) has been forced to “guarantee” its broker/dealer subsidiary will meet all financial obligations for “at least 12 months”, after regulators expressed concern over whether it was a ‘going concern’.
VAT to cut auto gross profits 8%
Bahamian auto dealers plan to introduce labels that will allow consumers to compare current prices with those post-VAT implementation, Tribune Business was told yesterday, with buyers warned to brace for 4-5 per cent increases at least.
Over 1,000 firms escape mandatory VAT registration
The Government yesterday estimated it would lose over 1,000 mandatory Value-Added Tax (VAT) payers in increasing the registration threshold to $100,000, but would still “capture” almost 98 per cent of economic activity.
Iesha ousted in quarters at Goombay Splash Bowl
Iesha Shepherd, the last Bahamian playing in the main draw of the International Tennis Federation’s Goombay Splash Bowl, got ousted in the quarter-final of the girls’ singles after putting up a gallant effort against top ranked Jacqueline Pelletier of the US.
Joaquin insurance loss stands at $14m
The Bahamian insurance industry is currently pegging gross losses caused by Hurricane Joaquin at $14 million, a sum equivalent to just 23 per cent of the initial $60 million damages estimate.
VAT revenues hit $271m for first 5 months
The $271.1 million in gross Value-Added Tax (VAT) revenues collected during the first five months of the Government’s 2015-2016 fiscal year slashed its fiscal deficit by almost 50 per cent to $134.1 million.
Ranfurly Children’s ‘amazing experience’ at NBA game
MIAMI, Florida - Thanks to the efforts of the Ministry of Tourism and Baha Mar, six residents of the Ranfurly Home for Children got a rare opportunity to watch a live National Basketball Association (NBA) game this week.
1,500 to be using social services debit card ‘by end of month’
NEARLY 1,500 people in New Providence will be able to utilise the Department of Social Services’ new pre-paid debit card by the end of this month, Social Services Minister Melanie Griffin has announced.
Mitchell creating relations with Middle East
LAST year, Foreign Affairs Minister Fred Mitchell announced that he was taking a year off to create relationships that would assist in the development of business and investment for the Bahamas. His first target was the Middle East — specifically the United Arab Emirates and Qatar.
PharmaChem deal gives Chamber chief 'optimism'
The Grand Bahama Chamber of Commerce’s newly-elected president hasexpressed “cautious optimism” for Grand Bahama’s economy, following the recently-completed acquisition of PharmaChem Technologies (Grand Bahama’s) net assets.
Bahamas urged to refine its own oil
By NATARIO McKENZIE
Red Cross ball returns - and aims to double income
THE Bahamas Red Cross Society is looking to double its proceeds for this year’s ball after two years without its largest fundraiser and the organisation encouraging the public to support.
New Abaco bridge gives benefit beyond resilience
The Ministry of Works’ deputy director yesterday said the $5.34m construction of The Bahamas’ longest-ever single span bridge will boost eco-tourism and creek regeneration as well as enhancing climate change resilience.
GSSSA volleyball season wraps up today
WITH the Government Secondary Schools Sports Association (GSSSA) volleyball regular season coming to a close, senior teams have turned up the intensity on the courts.
‘Quality new credit’ hard to find with $127m drop
Fidelity Bank (Bahamas) says the more than $127m collective decline in outstanding mortgage and consumer loans during 2022 shows “quality new credit” and borrowers will be tough to find despite the economy’s rebound.
Fidelity chair: Global recession risk ‘high’
A BISX-listed bank’s chairman has branded 2021 “the comeback year we all hoped for” after his institution cut loan loss provisions by almost $19m due to borrowers becoming current with their obligations again post-COVID.
Bahamas nets 3-0 win over Bermuda
Make it their second straight spectacular showing for the Bahamas women’s national tennis team at the prestigious Billie Jean King Cup at the Centro Nacional de Tenis Parque del Este in the Dominican Republic.
