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Bahamas First targets 2012 profit ‘multiples’

Bahamas First Holdings (BFH) is on course to generate 2012 profits that will be “multiples” of last year’s $1 million net income, its chief executive yesterday disclosing that an international rating agency had “validated” the turnaround strategy for its Cayman operation.

Call for foreign attorneys to practice in the Bahamas

Financial Services Minister Hope Strachan yesterday reiterated the call for international attorneys to be allowed to establish business operations in The Bahamas to facilitate cross border business and arbitral maters, arguing that this would in no way harm the Bahamian legal profession but instead expose local attorneys for employment opportunities abroad.

Nassau/PI room revenue up 3%

Nassau/Paradise Island hotels produced a 3 per cent room revenue increase for the 2015 full-year, with average occupancy rates beating 2014 comparatives for eight out of 12 months.

URCA rejects industry’s spectrum fee proposals

Regulators have rejected calls by the Bahamas’ two leading communications providers that radio spectrum fees be based on administrative costs, finding that this would “not maximise” the potential benefits to society.

SEC hits at broker’s ‘whack-a-mole’ game

US federal regulators are urging the southern New York courts to prevent a Bahamian broker/dealer and its principal from playing “a game of whack-a-mole” with their obligations to testify against other defendants.

Superwash: VAT payment down 35% for February

Superwash’s president yesterday said its Value-Added Tax (VAT) payment for February was down 35 per cent month-over-month, as the burden shifts to utilities and others who billed for January a month later.

VAT fraud risk is ‘big deal’ for all Bahamians

Value-Added Tax (VAT) is now here in the Bahamas following years of research, ‘White Papers’, discussions and debates. The Government expects it to produce a net revenue increase equivalent to roughly 2 per cent of GDP, and which will be used for projects that benefit persons living in the Bahamas.

Freeport incompatible with ‘aggressive’ VAT

Freeport’s business model is incompatible with the “blunt and aggressive instrument” that is Value-Added Tax (VAT), a senior Grand Bahama Chamber of Commerce executive believes.

Tourism rebounds to 90% pre-COVID level

Bahamian stopover arrivals rebounded to 90 percent of pre-COVID levels for July as the tourism recovery maintained its momentum by attracting some 3.677m visitors during the first seven months of 2022.

‘Misguided’ focus over corporate income tax

The Government’s approach to corporate income tax has been branded “misguided” by a prominent banker because the focus is largely on ensuring compliance with international demands.

BTC unveils its internet upgrades

THE Bahamas Telecommunications Company (BTC) will spend another $60 millionplus to upgrade its land-line service in a bid to win back residential users and create the fastest Internet service in the country.  Fresh off the heels of a $40 million-plus investment that netted an 800 per cent increase in data usage following transformation of its mobile network, BTC’s chief executive said the company is spending another $60-plus million to upgrade landline service.

'Unhappy players' to drive insurance consolidation

THE Insurance Advisory Commission's (IAC) chairman yesterday predicted that consolidation will occur among Bahamian general insurance carriers within the next two-three years, arguing that the industry's 2011 average Return on Equity (RoE) of 3.6 per cent meant "there must be some unhappy players".

Equities 'rebound'as trade volumes rise 71% in Q1

A LEADING investment banker yesterday said Bahamian share prices had "bottomed" and that the market was starting to "rebound", with collective trading volumes for all BISX-listed securities up 71.4 per cent year-over-year in the 2012 first quarter.

FTX Bahamas properties must fetch ‘80% of value’

All sales of FTX’s 35 high-end Bahamas properties must fetch a price that is “equal to or greater than 80 percent” of their broker-appraised values, it has been revealed.

‘Enormous sum’ for senator’s relatives

THE Auditor General says a Senator’s relatives stand to earn “an enormous sum” from leasing their Gladstone Road property to a government agency that typically loses over $1m per year.

Kalik brewer: We'll retain 'at least' 90% of workers

Commonwealth Brewery yesterday pledged to retain at least 90 percent of its workforce as the final number of staff to be terminated in the latest redundancy exercise has not been determined.

COVID - crime and choice

There were 73 people murdered in 2020, down from 95 person in 2019. This gives a homicide rate for 2020 of 18. 6 per 100 000. This is still considered an epidemic. According to United Nation, Homicide rate of 10 per 100 0000 or above is considered an epidemic.

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