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Brewery’s $1.331m loss exposes COVID fall-out
Commonwealth Brewery yesterday unveiled a negative $11.685m bottom line reversal as full-year 2020 revenues slumped by 28.4 percent due to COVID-19’s economic devastation.
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PM 'not minded' to allow oil drilling
PRIME Minister Philip Davis said he is “not minded” to allow oil drilling in The Bahamas and is completely opposed to oil exploitation in the country.
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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.
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‘We need more from resident billionaires’
The Bahamas “needs a little more than residency” from the multiple millionaires and billionaires that reside within its borders, an accounting firm’s principal is urging.
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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.
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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.
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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.
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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.
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‘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.
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End to 12% VAT realty rate ‘shows we mean business’
Realtors yesterday hailed the Government’s decision to eliminate the 12 percent VAT rate on high-end property sales as “a very solid move”, adding: “It shows we mean business.”
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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.
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Fidelity eyes $21m-$22m profit following ‘overshoot’
A BISX-listed bank is targeting full-year net income of $21m-$22m after its exceeding its budgetary target during the first nine months of 2021, its chief executive revealed yesterday.
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‘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”.
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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.
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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.
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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.
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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.
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Businesses ‘test water’ over extra night hours
Super Value’s principal yesterday said the supermarket chain plans to “test the waters” with 8pm closings after the nightly curfew was eased but voiced scepticism the move would increase sales.
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Deandre Ayton is 'Mr Efficiency'
Deandre Ayton’s efficiency has been an integral part of the Phoenix Suns’ rise in the NBA standings.
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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.
