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Gov’t doubles social assistance to $14m
“Front-loaded” salary increases for public sector workers were the main driver behind the $36.4m year-over-increase in the Government’s first quarter fixed-cost spending, it was disclosed yesterday.
Gov’t set to refinance $2.4bn in six months
THE Government has to refinance almost $2.4bn in maturing debt during the six months to end-June 2024, it has been revealed, with its euro-denominated liabilities almost doubling in percentage terms.
JUST 17% OF POOR GETTING BENEFITS
By NEIL HARTNELL Tribune Business Editor Less than 17 per cent of poor Bahamian households are receiving social security benefits, an Inter-American Development Bank (IDB) report highlighting a dysfunctional welfare system that is failing to reach those
Fidelity results 'below target' as provisions up 136%
Fidelity Bank (Bahamas)loan loss provisions rose by 136 per cent during the 2012 third quarter, its chief executive telling Tribune Business this pushed its results for the period “slightly below expectations”.
Breezes to host doubles tourney
The Bahamas will be out with basically the same team on the court as they did two years ago when the International Club of the Bahamas hosted the first inter-country tennis doubles tournament at Breezes Superclubs.
CHAMBER VOICE: Think before the expansion leap
In a familiar passage of sacred text, Jesus tells Simon Peter, an experienced fisherman, to launch out into the deep and cast The Net on the other side.
Colina insurer pumps $338k into affiliate's acquisition
BISX-listed Colina Holdings (Bahamas) and its life insurer subsidiary injected a collective $338,000 into an affiliate bank to finance its acquisition of Finter Bank & Trust (Bahamas), Tribune Business can reveal.
Exemptions can't hit VAT's revenue goals
The Government’s Value-Added Tax (VAT) revenue goals mean that any decision to ‘exempt’ a particular good or service will require it to impose the 15 per cent levy on another sector, a top Ministry of Finance official implied yesterday.
RoyalStar on target to hit $4m profits
RoyalStar Assurance’s 2013 performance is on target to match last year’s $4 million bottom line, its managing director yesterday telling Tribune Business its new JFK Drive headquarters showed the firm was “here to stay”.
Darville urges social workers to stay focused on those in need
ADMITTING that there are some troubled youth who seem focused on a life of crime and bad behaviour, Minister for Grand Bahama Dr Michael Darville on Monday encouraged social workers to remain focused and determined in their obligations to make a positive difference in people’s lives, particularly those in need.
Bank to ‘sneak’ growth on 38% market share
Commonwealth Bank is targeting a 2013 “revamp” for its Internet banking service that saw an 11 per cent activity increase in 2011, its president yesterday expressing optimism that it could also “sneak” market share growth.
Fund close to $1.1m tax dispute solution
The Bahamas Property Fund’s administrator yesterday said “the future lies” with securing multiple small tenants instead of larger ones, as it moves to seal the resolution of a $1.082 million tax dispute with the Government.
GB Power: We missed return target by $5.26m
Grand Bahama Power Company says it undershot its regulator-approved rate of return by $5.26 million for the year to end-December 31, 2013, due to the weak economy and reduced sales.
Union: No CIBC lay-offs likely before September
THE Bahamas Financial Services Union (BFSU) does not foresee any redundancies at CIBC FirstCaribbean International Bank (Bahamas) before September 30, its president expressing concern over the outsourcing of decision-making authority in the commercial banking industry.
Bank bracing for short term VAT default 'spike'
Commonwealth Bank’s president said yesterday it anticipates a short-term spike in delinquencies when Value-Added Tax (VAT) is implemented on January 1, having estimated the previous model would have increased its own annual costs by $4 million.
Moss slammed over V.A.T. blast
PLP chairman Bradley Roberts criticised Marco City MP Greg Moss yesterday for speaking “out of turn” when he said implementing value added tax “goes against the principles of the party”.
Rollins defends right to express different views
FORT CHARLOTTE MP Dr Andre Rollins yesterday warned Progressive Liberal Party “loyalists” that they are setting a “dangerous” precedent by criticising members of the party who express differing views from the party line.
Sky Bahamas chief: ‘No encouragement’ in mid-year Budget
A well-known businessman and aviation executive says the 2015/2016 mid-year Budget has given him little encouragement to invest further, reiterating calls for a strategic plan to develop the Out Islands.
Federation to honour legacy of the late ‘King’ Eric Gibson
THE Bahamas Golf Federation is expected to honour the legacy of the late ‘King’ Eric Gibson by hosting the King Eric Gibson Memorial Golf Tournament at Lyford Cay Golf Course on May 3.
PHA confirms 145 infections of dengue fever with six hospitalised
PUBLIC Hospitals Authority Managing Director Aubynette Rolle said six people are hospitalised with dengue fever.
