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Opposition alarm on S&P’s three times’ higher deficit
The Opposition’s finance spokesman yesterday voiced alarm over Standard & Poor’s (S&P) prediction that the fiscal deficit for the 2023-2024 Budget year will come in more than three times’ higher than the Government’s forecast at $466m.
Bahamian battles FTX chief on $28m aircraft
A BAHAMIAN aviation entrepreneur yesterday launched legal action against FTX’s US chief to safeguard his ownership interest in two aircraft valued at a combined $28m
S&P: Austerity ‘likely’ to meet Gov’t debt targets
Standard & Poor’s (S&P) last night argued that the Government will likely struggle to meet its debt reduction targets “without material new revenues, significant cost-cutting or well above average economic growth”.
Team Bahamas falls 6-1 to Grenada in CONCACAF ‘Road to Gold Cup’ opener
THE Bahamas’ senior women’s national football team went down 6-1 to Grenada in game one of the Confederation of North, Central American and Caribbean Association Football (CONCACAF) Women’s Road to Gold Cup.
$657k ‘pipeline’ blockage kept ArawakX insolvent
The Bahamas’ first-ever crowd-funding platform was branded “no longer solvent at February 2023” by external auditors who warned that $656,500 in “pipeline” revenue could not be used to restore a “net equity” position.
Act like a developed country
The World Bank classifies The Bahamas as a “high income, developed country”, while the International Monetary Fund places our nominal wealth per capita as slightly higher than that of Japan. We have, in our independent history, never been a “middle income” country or even close.
Crowd-funder: From $4m to $200m in 14 months
The Bahamas’ first-ever crowd-funding platform purportedly increased in value from just $4.38m to an astonishing $201.75m in just 14 months, it was alleged yesterday, despite accounts revealing a $2.659m “deficit” at end-July 2022.
‘Instant payback’: Doctors in revenue doubling to $120m
Doctors Hospital yesterday predicted it will “double” total pre-COVID revenues to around $120m during its current financial year after enjoying “instant payback” on $6.6m in healthcare investments.
Bahamas First blames 50% of $4.3m loss on new rules
Bahamas First’s top executive has blamed more than 50 percent of the group’s $4.3m comprehensive loss for the 2023 first half on a major change to insurance industry accounting standards.
Bahamian Jevone Barrett joins NBA’s Future Basketball Operations Stars Programme
Bahamian Jevone Barrett has been selected to join the National Basketball Association’s (NBA) Future Basketball Operations Stars (FBOS) Programme for the next six months.
Insolvent contractor’s staff recover just 10%
The Government and former workers are set to receive just over 10 percent of what they are owed by a Cavalier Construction affiliate, its liquidators have revealed.
Gov’t revenue goal ‘very close’ despite VAT miss
The Government’s top finance official yesterday forecast that it will “come very close” to achieving its total revenue and tax forecasts for the 2022-2023 fiscal year even though VAT could potentially under-shoot by up to $160m.
Cable targeting ‘monumental improvement’ via Aliv refinance
Cable Bahamas’ top executive yesterday asserted the group is poised for “monumental improvement” in profits if it can reach agreement with the Government on refinancing Aliv’s debt at lower interest costs.
THE BAHAMAS BEATEN DESPITE QUICK START: Puerto Rico win 6-1 in Nations League opener
AFTER getting off to an “electric start” from a quick shot from Christopher Rahming to ignite the home crowd inside the Thomas A. Robinson National Stadium, the Bahamas men’s team could not stop the relentless onslaught from Puerto Rico as they responded with a flurry of goals.
Brookfield exploring $2.5bn Atlantis sale
Brookfield Asset Management is looking to offload the Atlantis Paradise Island Resort - with a price tag of $2.5bn attached.
Inflation trend ‘positive’ as rate shows minimal change
THE trend for inflation has been hailed as "positive" by a campaigner for good governance.
Reserves stay ‘buoyant’ though growth reduced
The Central Bank yesterday said The Bahamas’ external reserves are set to remain “buoyant” in 2023 although June’s growth is $44.4m short of 2022’s expansion.
‘Record growth’ for tourism according to bank report
TOURISM is showing “record growth” according to a new report from the Central Bank of The Bahamas - while economic growth continues at a moderate pace.
Corporate income tax: Not ‘holding the bag’
The Bahamas Motor Dealers Association’s (BMDA) president says a corporate income tax levied on net profits would be “fantastic” for the industry if it eliminates a Business Licence regime that can tax companies into a loss.
‘Road map’ for 5G plan amid Starlink pushback
Regulators have pledged “to develop a road map” for deploying 5G (fifth generation) technology in The Bahamas amid continuing concerns from the two incumbent operators about the arrival of Elon Musk’s Starlink.
