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BTC is owner’s ‘most inefficient’ subsidiary
The Bahamas Telecommunications Company (BTC) was yesterday branded “our most inefficient business” by its owner despite mobile customer losses dropping to a record quarterly low.
Super Value chief: ‘cut our own path’ outside the WTO
Super Value’s owner yesterday said he still believes The Bahamas should “cut its own path” despite trade experts finding it would be “moderately positive” to join the WTO.
BUSINESS BITES: Taylor Industries R.I.P. Aged 74
I guess I bought my first light-bulb over 30 years ago in the friendly store facing Shirley Street’s busy traffic flow. Convenient, with easy parking and never crowded, it continued to meet my occasional electrical needs, a local retail icon I never thought about— and which never changed.
‘Manageable’: WTO revenue loss pegged at $110m-$130m
Revenue losses from WTO-related import tariff cuts are “manageable”, a Chamber of Commerce-commissioned study revealed yesterday, standing at between $110m-$130m per year.
Davis Cup: Baker and Philip clinch final two spots
BAKER Newman and Philip Major Jr clinched the final two spots over the weekend at the National Tennis Centre to make up the Bahamas team for the American Zone II Davis Cup tie.
Insurer shakes-off ‘three-year hangover’ on 22% claims fall
A Bahamian insurer has begun to shake-off its “three-year hangover” from Hurricane Matthew after 2018 claims came in 22 percent below its own projections.
Taylor Industries insolvent by $1m
Taylor Industries is insolvent by $1m after racking up a combined $1.856m in losses during the four-and-a-half years prior to its January 8 closure, it has been revealed.
Central Bank eyes ‘less interference’ on property deals
THE Central Bank’s governor yesterday said he is aiming to reduce “exchange control interference” with the approvals process for real estate deals involving foreign investors.
Governor calls for ‘more aggression’ over loan arrears
The Central Bank is pushing the banking sector to “speed up” resolving its remaining $742m loan arrears so that it can better fuel economic growth, its governor said yesterday.
NAD and Lucayan deals drop reserves to $1.4bn
The Bahamas’ foreign currency reserves fell to $1.4bn at end-March 2019 due, in part, to the Grand Lucayan purchase and Nassau Airport Development Company (NAD) refinancing.
Charity Golf Tourney set for May 6
THE Rotary Club of East Nassau is set for the signature events on its calendar and a major fund raiser focused on community outreach.
Bahamas First: No ‘abrupt change’ as profits drop 41%
Bahamas First’s top executive yesterday said there was “no reason to change” investment strategy after profits fell 41 percent in 2018 due to a negative $6.7m swing in portfolio values.
Communications sector below $400m revenues - a first in five years
Communications sector revenues dipped below $400m for the first time in five years during 2018, with both fixed-line voice and pay TV subscribers falling year-over-year.
Insurers ‘very close’ to VAT dispute settlement
Bahamian insurers were yesterday said to be “very close” to resolving their value-added tax (VAT) dispute with the government that has been “hanging over” the sector for the past year.
Govt cut national debt by $26.4m during fiscal Q3
The government lowered its direct contribution to the national debt by $26.4m during the 2018-2019 fiscal year’s third quarter, its just-released “fiscal snapshot” reveals.
Bahamas Waste chief hails ‘best year in 30-year history’
Bahamas Waste’s chairman has hailed the company’s “best year in its 30-year history” after 2018 profits soared 18 percent year-over-year to $1.348m.
More playing time for Sun’s Jonquel Jones?
The Connecticut Sun made arguably the biggest transaction of the WNBA offseason and it could lead to an increased role for Jonquel Jones.
Govt focusing on ‘hand ups, not give aways’
The deputy prime minister yesterday defended the government as “very responsive” to the poor’s needs, as it was focused on “providing a hand up” rather than “giving away money”.
Billionaire US family to buy Roberts’ hotel
A billionaire US family has been confirmed as the purchaser-in-waiting for Rupert Roberts’ Bimini Sands resort, Tribune Business can reveal.
Crunch time for NIB on payouts
CRITICAL decisions will have to be made regarding the National Insurance Board and the administration of contributions it collects to ensure there remains longevity of the social security net’s benefits, according to a Cabinet minister yesterday.
