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RoyalStar poised to acquire agency owned by shareholder

RoyalStar Assurance and its parent are poised to acquire the insurance agency operations of one of their major shareholders, multiple industry sources have revealed.

Gross govt borrowing leaps four-fold to $2bn

The government’s gross borrowings leapt four-fold year-over-year to more than $2bn during the six months to end-2020, it was revealed yesterday, exceeding what was projected for the full fiscal year.

DRILLING BEGINS . . . but Bethel says govt will negotiate a bigger share if oil is found

ATTORNEY General Carl Bethel assured Bahamians that the government intends to renegotiate the scale of royalty fees if commercial quantities of oil are found in the country.

FamGuard payouts drop $3.7m on COVID fall-out

Family Guardian's chairman has attributed a $3.7m decline in policyholder payouts for the nine months to end-September 2020 to a fall-off in medical claims caused by COVID-19.

Aliv set to double Cable ‘contribution’

Aliv is on track to double last year’s $8m “contribution” to Cable Bahamas’ results, its top executive revealed yesterday, while reiterating it was “never a quick dash to the finish line” on net profitability.

Seven held in $330k drug bust

FIVE men and two women were arrested after a police search netted 13 croker sacks of suspected marijuana with an estimated street value of $336,000.

Banks suffer 37% profitability decline

Bahamian commercial banks saw total private sector loan arrears increase by $76m during the 2020 fourth quarter as the sector’s collective profitability shrunk by 37 percent year-over-year.

Target ‘big boys’ first with corporate taxes

The Bahamas should initially only target companies generating more than $5m or $10m in annual net profits with a corporate income tax, a well-known attorney is arguing.

BTC facing ‘day by day’ fight on mobile rebound

The Bahamas Telecommunications Company (BTC) faces “a real day-by-day fight” to reclaim mobile market share lost to Aliv, its newly-appointed chief executive has admitted.

‘Coach Yo’ agrees to new, 4-year contract extension

The Ole Miss Rebels displayed their long term commitment to head coach Yolett McPhee McCuin and her vision for the women’s basketball programme with her second contract extension since she was named head coach in 2018.

Mitchell off to quick start with Panthers

Elijah Mitchell continues his stellar early season play for the Birmingham-Southern Panthers men’s soccer programme and has scored three points in his first two games.

Minister: Give us ‘offset’ to halt oil drilling pursuit

A Cabinet minister yesterday argued The Bahamas should seek "offsetting” compensation from neighbouring countries if it bows to their demands to give up oil exploration.

BLTA hosts play tennis programme

THE Bahamas Lawn Tennis Association (BLTA) through its Play Tennis programme is giving youth an opportunity to learn the sport.

Leading banker hits out over VAT ‘maze’

The Government “created a maze” for the Bahamian private sector and consumers when it abandoned the low-rate, broad base VAT model, a prominent banker is arguing.

‘Makes no sense’: Realtors challenge tax crackdown plan

Prominent realtors yesterday warned that the government’s plan to target delinquent commercial property owners by seizing their tenants’ rent “makes no absolutely no sense”.

IMF calls for austerity in the ‘hundreds of millions’

The International Monetary Fund (IMF) yesterday exposed the harsh austerity Bahamians face post-COVID by urging the government to increase its “net income” by more than $300m over four years.

Moody’s throws wrench into PLP’s VAT cut plan

The Davis administration’s pledge to slash the VAT rate to 10 percent has been undermined by Moody’s downgrade of The Bahamas’ creditworthiness, Tribune Business was told yesterday.

Deandre Ayton is 'Mr Efficiency'

Deandre Ayton’s efficiency has been an integral part of the Phoenix Suns’ rise in the NBA standings.

Candidate’s silence on his $53m fortune

KEVIN King, the Kingdom Government Movement’s leader who is vying for the East Grand Bahama seat, yesterday evaded questions to clarify his declared net worth of $53,129,820.

Can we bite NIB bullet? ‘Bold decision’ needed - raise contributions to sustain cash assistance

NATIONAL Insurance Minister Brensil Rolle yesterday admitted that no government has been “bold enough” to take on recommendations that National Insurance Board contributions must increase to sustain the financial viability of the social security net.

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