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Restaurant chain to double staff as revenues rise 15%
A BAHAMIAN restaurant chain is aiming to double its workforce by July through the creation of 48 new jobs with revenues for the year-to-date some 15 percent ahead of 2023.
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Deltec’s terminations ‘to realign workforce’
DELTEC Bank & Trust last night confirmed it has moved “to realign its workforce” via a right-sizing which is said to have resulted in around 11 staff being terminated last week.
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National debt up as spending rises faster than revenue growth
The Central Bank revealed yesterday that the national debt grew by $206m over the last quarter.
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ArawakX ‘to be reported’ to police amid $4m insolvency
The Bahamas’ first-ever crowd funding platform is suffering from a near-$4m insolvency, its provisional liquidators have asserted, as they prepare to report “multiple criminal infractions” to the police.
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FOCOL eyes 25% profit surge plus acquisitions
FOCOL Holdings is predicting a profit increase of 25.2 percent over the next three years with proceeds from its newly-launched $25m rights offering set to fund unspecified acquisitions and expansions.
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Freeport 'could attract $100bn if the economic model is right'
A Grand Bahama Port Authority (GBPA) director yesterday argued "Freeport needs $10bn, and could attract $100bn if we get the model right" amid a peace offering from the deputy prime minister.
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‘Very aggressive’ crackdown on $200m smuggling, evasion
The Government’s top finance official last night pledged “a very aggressive” approach to cracking down on smuggling and tax avoidance schemes believed to cost The Bahamas a combined $200m annually.
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Gov’t holds firm as $259m deficit near-double target
The Government has not adjusted any of its 2023-2024 fiscal targets despite revealing yesterday that its $258.7m half-year deficit was almost double the full 12-month goal.
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Gov’t eyes $140m ‘accrual’ over corporate income tax
The Government is exploring how Bahamas-based companies that will pay the new 15 percent corporate income tax can “accrue” a projected $140m in revenues before the enabling laws are enacted.
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Deltec pleaded Bahamas law breach, poverty over FTX evidence demands
Deltec Bank & Trust pleaded poverty and violations of Bahamian law in a failed bid to block aggrieved former FTX investors from forcing it to provide evidence.
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‘Sting operations’ net 1,500 pounds of illegal grouper
A senior fisheries official yesterday revealed that “sting operations” over the past three weeks have netted more than 1,500 pounds of Nassau grouper caught illegally out-of-season.
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Forget the past
ActivTrades
The international stock markets have experienced an up-and-down week. In the US, the rise in producer prices was spoiling investors’ buying mood at the end of last week and the Dow Jones Industrial Average (DJIA) was falling. The German benchmark index, DAX, reached a new record high on Friday and left trading with slight gains.
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Kaitlyn first Bahamian female to participate in collegiate water polo
KAITLYN Williams, the first Bahamian female to participate in collegiate water polo, scored a goal as the Iona Gaels women’s water polo picked up a 15-13 overtime win over Salem over the weekend.
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Fidelity eyes $18m profit after ‘opening the hood’
A BISX-listed bank yesterday revealed it is targeting $18m in full-year profits for 2024 after “opening the hood” to assess why last year’s projections were missed.
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‘Pregnant with opportunity’: FOCOL’s $25m rights issue
FOCOL Holdings is “pregnant with opportunities”, its chairman said yesterday, as it unveiled a $25m rights offering for existing shareholders to finance further expansion plans.
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‘Not worth’ pursuing after $700m unpaid PMH fees
AN ex-health minister says “it’s not worth” committing resources to collect legally-mandated user fees from Princess Margaret Hospital (PMH) patients given that $700m-plus remains unpaid.
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FNM: ‘Why BPL $184m debt not paid down by fuel hikes?’
The FNM’s finance chief yesterday said he is in the dark over why the proceeds from hiking Bahamas Power & Light’s (BPL) fuel charge by up to 163 percent have seemingly not been used to cut its $184m debt.
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THE KDK REPORT: This life and the next
AT the start of a new year, it’s common practice as an adult to reflect on our lives. We assess our successes and failures throughout the preceding year and set goals for the near future. And every year, aside from wishing for more success, the hope ultimately is that we and our loved ones retain good health and even stronger relationships.
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Waste, ‘political attitudes’, bar IMF’s hospital user fee plans
AN ex-health minister says “wastage”, combined with zero political appetite, means the IMF’s call for the imposition of hospital user fees on those “with greatest capacity to pay” is likely a non-starter.
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Gov’t set to refinance $2.4bn in six months
THE Government has to refinance almost $2.4bn in maturing debt during the six months to end-June 2024, it has been revealed, with its euro-denominated liabilities almost doubling in percentage terms.
