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BPC deal had govt over a barrel
The Bahamas would have been “on the hook for hundreds of millions of dollars”, and its credit rating endangered, if the Government had halted Bahamas Petroleum Company’s (BPC) oil exploration.
Ayton and Suns squander 24-point lead in loss to Nets
DEANDRE Ayton and the Phoenix Suns nearly had a perfect ending to their six-game homestand, but squandered a 24-point second half lead in a loss to the New Jersey Nets on Tuesday night.
Cavalier collapse took down affiliate
Cavalier Construction’s insolvency took down its equipment supplier affiliate even though the latter had generated a net profit in each of the previous four years, its liquidators have revealed.
Cavalier suffered $1m loss ahead of liquidity crunch
A major Bahamian contractor suffered more than $1m in operating losses over a four-year period before it collapsed into insolvency due to an “unmanageable liquidity shortfall” in early 2020.
Cable’s $70m loan remedies ‘breaches’ with Aliv bond terms
Cable Bahamas’ $70m long-term loan to its Aliv affiliate was yesterday said to have remedied the mobile operator’s non-compliance with conditions attached to $60m in previously-issued bonds.
FRONT PORCH: The conceits and decline of US Republican Party
It still surprises the number of Bahamians who little understand American society or politics but who, hook, line and sinker, have been caught and netted by the country’s mythologies, which continue to be unmasked, demystified and demythologised by the march of facts and history.
Minister: Give us ‘offset’ to halt oil drilling pursuit
A Cabinet minister yesterday argued The Bahamas should seek "offsetting” compensation from neighbouring countries if it bows to their demands to give up oil exploration.
ALICIA WALLACE: Throwing money at a problem doesn’t mean it’s going to go away
Last week, it was reported a woman was sleeping in a car with her children, including an infant. She was asked to leave her previous apartment after being allowed to live there rent-free for several months. She expressed concern about her children’s education, noting her daughter had fallen behind over the past year. She noted there were other people in the same situation, forced on to the streets.
Accountants brace for surge in insolvencies
Bahamian accountants are bracing for “an uptick” in corporate insolvency work during the 2021 second half with companies already moving to restructure as hopes for a quick economic rebound fade.
Aliv gains network ‘ownership’ through $24m loan payback
Aliv has gained “ownership” of its mobile network equipment by paying off a $24m loan with the proceeds from long-term debt advanced by its controlling shareholder, its top executive has revealed.
Aliv set to double Cable ‘contribution’
Aliv is on track to double last year’s $8m “contribution” to Cable Bahamas’ results, its top executive revealed yesterday, while reiterating it was “never a quick dash to the finish line” on net profitability.
Union seeking answers as CIBC sale collapses
A trade union leader is today hoping to today discover whether CIBC’s efforts to exit majority FirstCaribbean ownership have hit “the end of the road” following the collapse of a $797m deal.
Tax break scrutiny urged as Albany’s exemption $23m
The high-end Albany project received more than $23m in tax breaks during the 2017-2018 fiscal year as the government’s financial watchdog called for a “cost benefit analysis” on all such exemptions.
ALICIA WALLACE: It’s our job to protect young girls by recognising the reality facing us
The issue of sexual violence against women and girls is in the media too often for us to pretend the incidents are isolated or separate from systemic issues. We struggle to recognise and address some of those issues, such as capitalism and misogyny, while others are universal enough to receive widespread acknowledgement.
Insurer challenge to IMF’s proposal
A top insurer yesterday challenged how The Bahamas could enforce the IMF’s “mandatory property insurance” proposal when it is currently failing to do this with existing laws.
Tourism return to pre-COVID peak in 2023
The start of tourism’s revival has been “pushed back” beyond the peak winter season, the Central Bank’s governor warned yesterday, with a return to top performance not expected until 2023.
‘No delusions’ on foreign reserves
The Central Bank has “no delusions” over an external reserves mix that will likely fall below pre-pandemic levels of $1.5bn prior to COVID-19 recovery starting, its governor said yesterday.
RBC OPENS NEW OFFICE AT ALBANY
Royal Bank of Canada (RBC) has moved closer to its high net worth clients by opening an office at Albany to serve such customers.
Govt backs ‘mandatory’ property insurance call
The government has “agreed” that property insurance must be mandatory throughout The Bahamas with Dorian-related reinsurance inflows giving the external reserves a $1.3bn boost.
Gross govt borrowing leaps four-fold to $2bn
The government’s gross borrowings leapt four-fold year-over-year to more than $2bn during the six months to end-2020, it was revealed yesterday, exceeding what was projected for the full fiscal year.
