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Insolvent broker chief asked to return $3.5m
An insolvent Bahamian broker/dealer’s principal will be told to return $3.5 million to its liquidators by “formally dissolving” 10 entities he controls, Tribune Business can reveal.
Graycliff: 'Happy compromise' saves 25% of cigar sales
Graycliff yesterday said it had preserved 25 per cent of its cigar business by reaching “a happy compromise” over the Government’s tax policies, a move that will allow it to continue domestic sales.
Regatta winners get prize money
After watching another competitive St Valentine’s Day Regatta in Montagu Bay, organisers took the opportunity to distribute the hardware and prize monies to the winners in the various categories on Wednesday.
A fresh look for Holmes Rock
REPAIRS and improvements were made to the Holmes Rock Primary school in Grand Bahama by the Grand Bahama Shipyard (GBS) and other sponsors.
Graycliff in ‘make or break’ tax talks
Graycliff was yesterday locked in ‘make or break’ talks with the Ministry of Finance, having disclosed to Tribune Business that it would stop selling its trademark cigars locally if the Government did not amend its new Excise Tax policy.
The Bahamas did not sign the Petro Caribe pact
IN HIS column on page 12 of today’s Tribune, Sir Ronald Sanders asks: “Petro Caribe: are Caribbean countries prepared for the worst?”
Tobacco plans
IT’S very considerate of the Bahamas Cigarette & Tobacco Co to plan to introduce a tobacco factory for the benefit of the people of Andros.
No Bull come up short
WHILE the elimination process is currently underway at the AF Adderley Gymnasium, teams are also jockeying to make a run for a shot at the final four in their bid to get into Monday night’s championship game of the 32nd edition of the prestigious Hugh Campbell Basketball Classic.
Club helping to build leaders of the future
THE newest EarlyAct club in the country celebrated its charter night at Xavier’s Lower School.
Tobacco start-up targets up to $10m first year sales
A Bahamian-owned tobacco manufacturing start-up yesterday said it was targeting $5-$10 million in first year gross sales, but warned this and employee hires could be “significantly impacted” if no Excise Tax exemption was forthcoming.
Halkitis: No viable option other than VAT
APART from the imposition of Value Added Tax (VAT), the Bahamas has no other viable option to spark the required streams of revenue it needs to arrest government debt, according to State Finance Minister Michael Halkitis.
UN speaker at Hilton event
ROTARY International’s chief representative at the United Nations in New York will be the guest speaker at an event at the British Colonial Hilton on February 21 under the patronage of Governor General Sir Arthur Foulkes.
Robinson wins ‘Catch Me If You Can’ title
ELEAZOR ‘the Sailing Barber’ Johnson always prides himself on drawing the largest crowd on Montagu Beach for his annual St Valentine’s Day Massacre.
Sports in brief
THE New Providence Volleyball Association continued its second playoff series at the DW Davis Gymnasium on Wednesday night as the Johnson’s Cherry Bombs swept the College of the Bahamas Lady Caribs 28-26, 25-17 and 25-22 to win the series 2-0 and advance to the ladies’ championship.
Reunion for TIA airline
ON March 15 of this year, former employees of Trans Island Airways will gather at Watlings Distillery in Nassau for a reunion of the charter airline with the distinctive yellow tail that served the Bahama Islands so effectively for around 20 years.
Sports in brief
THE Bahamas Association of Independent Secondary Schools’ best-of-three basketball playoffs is slated to continue today at Kendal Isaacs Gymnasium.
Quality Beach Soccer Club teams dominate international friendlies
QUALITY Beach Soccer Club’s 16-and-under men’s squad dominated this past Sunday in an international friendly club match against St Stephen’s Soccer Academy out of Austin, Texas.
Fishing tournament helps Grand Bahama schools
FREEPORT – The saying goes, ‘Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime’.
Sunshine Insurance names new executive
Sunshine Insurance (Agents & Brokers) has named 20-year industry veteran Dwayne Swaby as its vice-president of development.
'Risk' broker may not return investor funds
There is a “legitimate risk” that a BISX-listed broker/dealer may not return funds caught up in a $340 million Ponzi scheme to their rightful owners, court documents obtained by Tribune Business have alleged.
