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Bank wipes out $30m loss in three months

A BISX-listed bank says its best first quarter for a decade has more than wiped out the near-$30m full-year loss it suffered for 2021, which was sparked by a 41.4 percent jump in bad loan impairments driven by COVID-19 fall-out.

McKinney joins legalfraternity's move west

McKinney, Bancroft & Hughes yesterday confirmed it had become the latest Bahamian law firm to establish a Lyford Cay satellite

Bahamas 'near top of heap' through 10% demand rise

A 10 per cent increase in room demand over the past 12 months saw the Bahamas placed "near the top of the heap" in the Caribbean by a world-leading travel research firm, local hotel executives saying the findings "augur well for a good long-term future" for this nation.

Downtown ‘catalyst’ beats goal by $11m

The Nassau Cruise Port’s overhaul is “already serving as a catalyst” for fresh investment in downtown, its top executive has asserted, after its recent bond refinancing was oversubscribed by almost $11m to hit $145m.

Bahamas hits back over OECD ‘non-compliance’

The Bahamas hit back over its sole tax information exchange “non-compliant” rating by the Organisation for Economic Co-Operation and Development (OECD) through arguing the number of countries with complaints was “low”.

S&P slashes Bahamas ‘23 growth to just 1.1%

Standard & Poor’s (S&P) yesterday slashed its 2023 economic growth forecast for The Bahamas to just 1.1 percent despite giving the country a break on repeated annual creditworthiness downgrades.

Insurance ensures 'no fiscal risk' from PLP mortgage plan

A LEADING architect of the Progressive Liberal Party's (PLP) mortgage relief plan is arguing that its so-called $105 million 'funding gap' would be covered by insurance, ensuring the Bahamas' "national financial position is not put at risk".

IMF: Those with means pay more for health and water

THE Government can slash “unproductive spending” by $116.5m and, in so doing, boost key public services if Bahamians with means pay more for water and access to public healthcare.

Deficits overwhelm growth six-fold in driving debt hike

Weak economic growth has been overwhelmed by the six-fold greater impact of surging fiscal deficits and failed to keep The Bahamas’ debt ratios in check, a multilateral lender is asserting.

Regulator rejects bank fee controls despite 43% rises

The Central Bank will likely disappoint many Bahamian consumers through its refusal to counter rising bank fees with price controls, despite increases as high as 43 per cent on “a significant number of services”.

Concern RBC exit will drive ‘illegal banking’

The FNM’s deputy leader yesterday expressed fears that Royal Bank of Canada’s (RBC) decision to close four branches would drive more Family Island residents to use web shops and other ‘informal’ sources to conduct their banking business.

'Riddled with danger': How insurance VAT hits storm victims

THE continued imposition of VAT on general insurance premiums is “riddled with danger” for that industry, the Government and wider private sector, a respected accountant warned yesterday.Kevin Seymour, also a former Grand Bahama Chamber of Commerce p

TOUGH CALL: Smoke continues to obscure landfill bid process

Faced by another toxic fire at the Harrold Road dump as a general election nears, the government has swung into action with an express ‘request for proposals’ (RFP) to fix the problem.

Just 15% of insolvent broker’s assets located

An insolvent Bahamian broker/dealer’s liquidators have recovered just 15 per cent of its identified assets, while clawing back minimal sums from its former principal and overdrawn clients.

Bahamas suffers 4-2 loss to USA

Before another jam-packed Malcolm Park beach soccer stadium, the Bahamas suffered a 4-2 loss to the United States of America yesterday and ended up in sixth place in the CONCACAF Beach Soccer Championship.

Neutrality boost if ‘get ahead of G-20’

THE Bahamas can become a “neutral” venue for deal structuring and other major transactions “if we can get ahead of the curve” on the latest tax avoidance crackdown, a prominent banker argued yesterday.

DPM: Bond attacks 'pie in sky thinking'

The deputy prime minister yesterday slammed arguments that The Bahamas' $600m bond issue was over-priced as "pie in the sky thinking" while revealing $133m in debt repayments have been delayed.

Bahamas suffered $400m 'shortfall' on foreign inflows

The Bahamas suffered a more than $400m foreign currency "shortfall" in 2020 that had to be covered by the Government's overseas borrowing activities, the Central Bank's governor revealed yesterday.

Bahamas is hailed for 'stroke of genius'

The Bahamas was yesterday hailed for "a stroke of genius" in developing Florida-based pre-clearance facilities for a private aviation market that has "almost doubled" in volume during recent months.

NASSAU LIFE: Painful numbers for The Bahamas

TYPICAL Bahamians, like citizens everywhere, take little interest in the numbers underlying their country’s successes - or failures.

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