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IAN FERGUSON: A retiring strategy you can bank on
Many employees are making the mistake of taking too long to prepare for retirement. After working diligently for more than 30 years you should set yourself up financially for your “golden years”. The last 12 months before you call an end to your care
Brewery shrugs off Dorian devastation
Commonwealth Brewery is “cautiously optimistic” on the economy’s short-term prospects after it rebounded quickly from Dorian’s destruction of five retail outlets and a distribution centre.The BISX-listed Kalik manufacturer, unveiling its results for
J S Johnson in 170% claims rise through Dorian
J S Johnson yesterday revealed that a 170 percent spike in net claims incurred due to Hurricane Dorian has slashed its net income for the first nine months of 2019 by 26 percent. The BISX-listed broker and agent, also unveiling its third quarter fin
Taxi union threatens stoppage
THE Bahamas Taxi Cab Union is threatening to withdraw services this holiday season if Transport Minister Renward Wells does not meet with them soon to disclose the government’s plans for the sector on the issue of taxi plates.
Royals and Rattlers earn basketball titles
The DW Davis Royals came from behind and blew out the Queen’s College Comets to repeat as the junior boys’ champions, while the CI Gibson Rattlers had to hold off a late surge by the Doris Johnson Mystic Marlins to earn the intermediate boys’ title.
Arawak port beats profit target by 23%
The Nassau Container Port’s (NCP) operator has beaten its first quarter profit target by 23 percent despite forecasting that full-year net income will be $763,155 less than it achieved in 2019.
Harbour Island project boss sues for $1m
A bitter $1m legal battle has erupted between the developer of a controversial Harbour Island marina and its former project manager who has a history of convictions and run-ins with law enforcement.
Albury and Buffaloes win title after double overtime thriller
WITH very little chance to celebrate his first taste of victory as a high school football state champion on Friday night, Deyton Albury was on the court on Saturday making his successful debut as a basketball player for the Sunrise Christian Academy Buffaloes.
Union seeking 'seat at table' on CIBC deal
Union leaders have written to the government seeking a “seat at the table” over the approval of CIBC FirstCaribbean’s majority sale to a Colombian-headquartered financial group.Teresa Mortimer, the Bahamas Financial Services Union’s (BFSU) president,
Follow CIBC lead on BOB, ex-FNM chair tells govt
A prominent Bank of The Bahamas shareholder yesterday urged the government to follow CIBC’s lead and “be more aggressive” in seeking to exit its 82.6 percent majority ownership of the lender. Darron Cash, the former Free National Movement (FNM) chai
Great Abaco Classic, NCAA showcase all set for Baha Mar
DESPITE the impact of Hurricane Dorian, the partnership between bd Global Sports, the Baha Mar Resort and the Ministry of Tourism and Aviation produced an initiative to relocate a pair of events hosted by the international sports management company.
Insolvent adviser meets just 25% of $1m liability
An insolvent Bahamas-based investment advisor has been placed in Supreme Court-supervised liquidation due to its remaining cash balances covering less than 25 percent of its $1m-plus liabilities. Ed Rahming, the newly-appointed liquidator for Pacifi
Local insurers in $85m Dorian loss
The Bahamian insurance industry’s share of Hurricane Dorian losses is a collective net $85m, industry regulators revealed yesterday. Jamel Bodie, the Insurance Commission of The Bahamas (ICB) supervision manager, told the Accountants’ Week conferenc
BOB 'open for partners' as profits decline 75%
Bank of The Bahamas (BoB) is open to strategic partnerships, the deputy prime minister said yesterday, as the institution suffered a 75.2 percent profits decline for its 2020 financial year’s first quarter. Speaking outside the Accountants Week conf
Colombian CIBC sale goes ahead
The deputy prime minister has voiced optimism that CIBC’s sale of majority control in its Bahamian and regional affiliate will be “positive” given the buyer’s reputation for innovation.
Customers warned: No more slack on BPL bills
Servicing Bahamas Power & Light’s (BPL) $650m refinancing will end the “buddy-buddy system” that has enabled delinquent electricity payers to evade disconnection, a union leader is warning.
Yachting group comes to Bahamas' assistance
Yachting enthusiasts have moved to aid Hurricane Dorian relief efforts by employing eight private yachts to provide help to Abaco and Grand Bahama. YachtAid Global (YAG) is a non-profit organisation (NGO) dedicated to undertaking conservation, human
Insurers: Dorian losses increase to $1.5bn-$2bn
Estimates for Hurricane Dorian’s total insured losses were yesterday said to have increased to between $1.5bn to $2bn as the entire Bahamian industry was removed from international “review”. Anton Saunders, RoyalStar Assurance’s managing director, t
Minister: BPL must not ‘burden’ prompt payers
A Cabinet minister yesterday pledged that Bahamas Power & Light (BPL) will clamp down on delinquent bill payers so that compliant customers are not penalised in servicing its $650m refinancing.
BTC owner: Abaco 'a humanitarian disaster'
The Bahamas Telecommunications Company’s (BTC) owner is eyeing fixed wireless solutions to reduce construction costs associated with rebuilding network infrastructure in Abaco post-Dorian. Balan Nair, Liberty Latin America’s (LiLAC) chief executive,