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VAT health claims change may drain foreign reserves
THE changed VAT treatment on health insurance claims payouts could further drain The Bahamas’ foreign reserves by driving patients to seek care outside the country, a senior executive warned yesterday.
BISX-listed fund targets storage drive to $100m
A BISX-listed fund is entering New Providence’s warehouse and storage space market to help drive ambitions of more than doubling in scale to some $100m in assets.
GBPA: Gov’ts financial demands are ‘contested’
The Grand Bahama Port Authority (GBPA) yesterday hit back at the Government’s financial demands as the Opposition’s leader warned his party will “vigorously resist” any bid to “supersede” Freeport’s founding treaty without consultation.
Investors ‘get wise’: RF funds up $60m
A Bahamian investment bank yesterday said total assets under management in its local currency mutual funds have increased by $60m year-to-date as investors “get wise” to the negative returns on bank deposits.
HUBERT EDWARDS: Missing the mark on our economic dignity
From a regional perspective, the mission of getting Caribbean countries to a position of economic sustainability and resilience will demand national innovation, productive creativity and a herculean effort on prudent fiscal management. It will also require an unfailing commitment to delivering value across the broadest socio-economic divides that these countries have ever experienced, and a radical cultural shift at multiple levels.
Economic recovery not strong enough to dent unemployment
The Bahamas’ economic recovery to-date has not been strong enough “ to achieve substantial gains in employment and a broadening of private sector demand”, the Central Bank noting that commercial bank loan arrears had almost hit the 20 per cent mark.
Insurer targets 'strong double digit growth'
A Bahamian general insurer yesterday said it was targeting "strong double digit growth" in its bottom line for 2012, its prior year results having been impacted by res
GB Power ‘clawing way back’ in 25% profit rise
Grand Bahama Power Company was yesterday said to be “clawing our way” back to targeted net income after producing a 25 percent profits increase to $10m for the 2022 full-year.
AML chair: three food retail players likely to survive
By NEIL HARTNELL Tribune Business Editor The Bahamian food retail market will ultimately be dominated by just three major players, AML Foods' chairman telling Tribune Business in the wake of Robin Hood's demise that consolidation was "inevitable". Dionis
$700m external loan goal ‘looking very favourable’
The Government’s bid to raise almost one-third of its near-$2.2bn gross financing needs for the 2023-2024 fiscal year from external banks is “looking very favourable”, a senior official revealed yesterday.
FOCOL targets wide growth in ‘preparing for the next 50 years’
FOCOL Holdings’ top executive last night said it is targeting growth “in every sector of our business”, including gas stations and electricity generation, and added: “We’re preparing for the next 50 years.”
Near ‘border line’ over govt debt write-down
The government was yesterday urged to “tread very cautiously” because banks and other institutions are at “the border line” of incurring credit losses on their holdings of its bond debt.
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.
PM: 40% of VAT money to deficit
Prime Minister Perry Christie yesterday said 40 per cent of the $1.14 billion Value-Added Tax (VAT) revenues has gone towards reducing the deficit, as he gave an accounting designed to end the “grave and nonsensical misconceptions that revenues were being squandered”.
Cable unveils dividend restart within one year
CABLE Bahamas expects its growth strategy to start paying off for shareholders in less than a year’s time, although it is “not fully satisfied yet” with the returns generated.The BISX-listed communications provider told investors in its newly-release
Ownership Registry could 'destabilise' financial services
An ex-Cabinet minister has warned that creating a central Beneficial Ownership Registry could “destabilise” the Bahamian financial services industry and should be shelved “for now”.Ryan Pinder, a former financial services minister, told a Bahamas Fin
BTC profits slump 75% amid 2-year owner wait
The Bahamas Telecommunications Company’s (BTC) 2017 profits plunged by around 75 per cent amid its owner’s continuing two-year wait for the Government to approve its takeover.
Contractors differ over VAT waiver
Top Bahamian Contractors Association (BCA) executives yesterday took opposing stances on the industry’s ability to access the “waiver” from 12 pecent VAT on pre-existing contracts.Leonard Sands, pictured, the BCA’s president, told Tribune Business th
Doomed to failure
The Christie administration doomed PowerSecure to failure by failing to complete Bahamas Power & Light’s (BPL) $600 million refinancing “within six months” of the management deal.
Govt praised on virus measures given 'limitations'
Private sector executives and union leaders yesterday praised the government for striking the right balance between its fiscal woes and propping up workers and the economy against COVID-19.Robert Myers, the Organisation for Responsible Governance’s (
