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Time to think outside the box
As the battle rages on about whether the BEC/BPL rates are too high, or whether they have increased by 60% or 70%, there is one thing that everyone seems to agree on and that is that electricity costs far too much.
GB Power chief: Renewables can be 50-60% of generation
GB Power’s top executive yesterday said renewable energy can ultimately become 50-60 percent of the island’s generation mix, but warned: “You won’t see Florida prices any time soon.”David McGregor, the utility’s president and chief operating officer,
Summit 'profitability ratios' hit the peak
Summit Insurance has seen its creditworthiness maintained by the insurance industry’s top rating agency after its “profitability ratios” outperformed rivals.AM Best reaffirmed the property and casualty insurer’s financial strength rating of A- (Excel
Marinas eye 50% boater rise in '18
Bahamian marinas believe 2018 could produce a 50 percent year-over-year increase in visiting boaters as the country moves to generate further interest in this sector.“In 2018, the Ministry of Tourism and Aviation saw boating numbers double in some is
'Way too early to celebrate' BOB's 199% profits rise
A prominent Bank of The Bahamas (BOB) shareholder yesterday warned it was “way too early to celebrate” its 199 percent first quarter profits increase as multiple concerns remain. Darron Cash, pictured, the former Free National Movement (FNM) chairman
In the BFA, UB Mingoes top United 2-0
THE University of the Bahamas Mingoes defeated United Football Club 2-0 for the first win of the Bahamas Football Association season as the defending champions look to repeat this season.
BTC eyes 2019 'bottom' after 12,400 client loss
The Bahamas Telecommunications Company’s (BTC) owner yesterday said its mobile subscriber loss “will bottom out in 2019” after another 12,400 customers exited in this year’s third quarter.Balan Nair, Liberty Latin America’s (LiLAC) chief executive, t
China won't replace our 'bread and butter'
The Bahamas “cannot ignore” China’s fast-growing tourism market even though the US will “always be our bread and butter”, the Minister of Tourism argued yesterday.Dionisio D’Aguilar, who has just returned from leading a joint industry-government dele
BUSINESS BITES: It’s all in the details if you care to read them
In writing its 2018 Annual Report, the board of directors of Cable Bahamas faced a challenging task: how to explain to shareholders that larger losses in net income and earnings per share should not obscure the strong prospects for long-term growth.
Arawak Port beats profit target by 9%
The Nassau Container Port’s 2019 first quarter profits beat target by nine percent despite projections that full-year net income will be down by more than $1m compared to the prior year.Arawak Port Development Company (APD), the port’s BISX-listed op
VAT reassurance 'final impetus' for $100m expansion
PALM Cay’s chief executive yesterday said recent value-added tax (VAT) “assurances” by the Government had served as the “final impetus” to kick-start its latest $100m expansion.Rob Batchelor, Palm Cay’s chief executive, told Tribune Business that the
Doctors, insurers told: Cut fees for viable NHI
All doctors, healthcare facilities and insurers must cut their fees if the revised National Health Insurance (NHI) model is to succeed and be financially viable, a Cabinet minister has warned.Dr Duane Sands, minister of health, told Tribune Business
Bahamas developers blast OECD's 'cynical' targeting
Bahamas-based developers have blasted the OECD’s “cynical” attempt to ““de-legitimise” this nation’s key investment product by suggesting it threatens the global fight against tax evasion. The newly-formed Bahamas Developers Association (BDA), in a r
$700k college clerk thief seeks appeal
FORMER College of the Bahamas employee Chimeka Gibbs is seeking to appeal her sentence and conviction for stealing over $700,000 from the tertiary institution over a seven-year period.
Aliv targets summer 2019 'break even'
Aliv is targeting an operating income “break even” position by summer 2019 as it transitions from start-up losses that totalled more than $109m during its first two years.Damian Blackburn, the mobile operator’s top executive, told Tribune Business ye
Cable pushes $97m debt repay to 2020
Cable Bahamas has secured a two-year extension for repaying $97.169m of debt that was falling due, and which had caused current liabilities to exceed assets by 95.6 percent.The BISX-listed communications provider, in its just-released annual report,
IAN FERGUSON: Putting multiple jobs under the 'moonlight'
“Moonlighting” has become a mainstay for many Bahamian workers, who enjoy the benefits of receiving two or three salaries at any given time. With all the talk about multiple streams of income, the increase in taxation and the mounting pressure to ear
Business easier in Gaza than Bahamas
The deputy prime minister yesterday pledged “drastic improvement” after the World Bank concluded it was easier to do business in the war-torn West Bank and Gaza Strip than The Bahamas.KP Turnquest, pictured, told Tribune Business that planned reforms
Over 25% of BOB's loans still delinquent
More than one-quarter of the Bank of The Bahamas net loan portfolio was delinquent at end-June 2018 despite the prior year’s bail-out, with its financials unable to escape a “going concern” warning.KPMG, the BISX-listed institution’s external auditor
DPM: Full VAT impact may not be till new year
The Government “may be a little behind” its 2018-2019 fiscal projections, it was revealed yesterday, with the full VAT rate hike impact not felt until the New Year.KP Turnquest, pictured, deputy prime minister, told Tribune Business that the Ministry
