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Colina raises policy reserves by $20.2m

Colina Holdings Bahamas (CHBL) yesterday unveiled a $20.2m increase in reserves to cover future policyholder payouts in the wake of Hurricane Dorian.The rise, likely undertaken in anticipation of increased benefits claims, occurred as the BISX-listed

Lyford Cay Classic tournament winners on course for success

The Bahamas Golf Federation recently hosted it’s latest tournament, the Lyford Cay Classic, the first Stapleford Points event in Nassau for the 2017 season. The event had a mixture of male, female and junior golfers. The BGF extended its congratulati

VAT Briefs

While commercial property sales involving occupied buildings will see 7.5 per cent Value-Added Tax (VAT) levied on the sales price, Financial Secretary John Rolle yesterday said companies would be able to claim a ‘credit’ for it, or ‘net it off’, in their VAT returns.

LPIA in 'substantial' 6.9% seats increase

The Lynden Pindling International Airport (LPIA) has seen “a quite substantial” 6.9 per cent increase in incoming airline seats during the first four months of its current financial year, its operator yesterday saying net income “isn’t the most accurate reflection of our health”.

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BTC 'exacerbates' $265m FDI decline

A $265 million decline in year-over-year net foreign investment (FDI) into the Bahamas is not as bad as it seems, the Central Bank’s governor yesterday saying that stripping out the BTC privatisation proceeds produced a more “modest” 7.6 per cent fall.

Callenders attorneys attend China summit

Two Callenders & Co partners will head to Shanghai next month for a major international. financial conference on wealth and asset management, which is expected to attract some 500 advisors and professionals serving China’s fast-growing high net worth individual population.

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Insurer suffers $220m in Hurricane Dorian claims

JS Johnson’s underwriting affiliate suffered just a $105,787 net loss for 2020 despite incurring more than $220m in insurance claims, it was revealed yesterday.The BISX-listed broker and agent, unveiling its results for the full-year and fourth quart

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Renewable provider proposes solar for 25% BEC needs

A BAHAMIAN renewable provider has presented the Government with an “energy mix” proposal to allow for 25 per cent of the Bahamas Electricity Corporation’s (BEC) daytime generating capacity to be derived from solar power.

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Hitting near 3% growth to make ‘incredible difference’

Economic growth in the “upper 2 percent” range and above will make “an incredible difference” to The Bahamas’ economic prospects if achieved consistently, the Central Bank governor asserted yesterday.

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'

By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for

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‘Non-controllable’ cost surge blocks bank matching 2022

Commonwealth Bank believes it would have come close to matching 2022’s “extraordinary” nine-month profitability had it not been for $3m in new Business Licence fees and utility costs “more than doubling”.

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Govt earns '$50m net' from Lucayan disposal

The Hotel Corporation’s chairman yesterday blasted that critics of the government’s Grand Lucayan deal have been “left with egg on their face” as it prepares to receive a net $50m from the sale.Michael Scott, who also headed the resort’s board, told

FINCO net income triples despite $100m bad loans

Despite an almost $100 million-strong non-performing mortgage portfolio, Finance Corporation of the Bahamas’ (FINCO) 2013 first half net income more than tripled on the back of reduced operating costs and loan loss provisions.

CIBC: $174m net loss 'final rebound phase'

CIBC FirstCaribbean’s capital market-record $174 million net loss is unlikely to be repeated and represents the final stage in a “three-phase approach to revive our business”, its Bahamian managing director told Tribune Business.

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Cocaine seized near Long Island

A JOINT operation with local police, OPBAT, the US Drug Enforcement Administration and US Coast Guard netted a large quantity of cocaine in the Long Island area yesterday.

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Woman arrested as $6,000 of marijuana is seized

POLICE arrested a woman from Eleuthera on Sunday after a joint operation netted the seizure of five pounds of marijuana and $6,000.