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Sir Franklyn defends $49m Jack's Bay goal

Sir Franklyn Wilson is defending as "very conservative" projections that the Jack's Bay project will hit up to $48.9m in annual real estate sales by 2023, adding: "We're not selling this like Fried Fish."

Health insurer's Bahamas exit to be 'orderly'

Regulators yesterday said they expect a “very orderly wind-down” of a Bahamas-based health insurer as it readies to exit the market by December 2021. Michele Fields, the Insurance Commission’s superintendent, confirmed to Tribune Business that Gener

Bahamas First closes $4.28m premium 'gap'

Bahamas First’s top executive yesterday said the insurer has largely closed a $4.276m premium income “gap” that opened towards the 2020 first quarter end due to the COVID-19 lockdown. Patrick Ward, the property and casualty underwriter’s president a

Analyst: VAT hike to 15% 'inevitable'

A leading financial analyst says a VAT rate hike to 15 percent is “inevitable” within two years of the next election as he called for a shift to a more progressive system via personal and corporate income tax.Anthony Ferguson, CFAL’s principal, speak

Governor rejects non-essential import curb

The Central Bank's governor yesterday rejected as "bureaucratically inefficient" suggestions that The Bahamas impose restrictions on non-essential imports to protect the foreign currency reserves.

BTC's revenues drop over $21m

The Bahamas Telecommunications Company's (BTC) fell by more than $21m year-over-year for the nine months to end-September 2020 despite further slowing the erosion of its mobile customer base.

Stop 'dictating' FDI direction, banker warns

The Bahamas must be more willing to open up to foreign direct investment (FDI) in non-traditional areas to have any hope of paying-off rising US dollar debt, a top investment banker is arguing.

‘No delusions’ on foreign reserves

The Central Bank has “no delusions” over an external reserves mix that will likely fall below pre-pandemic levels of $1.5bn prior to COVID-19 recovery starting, its governor said yesterday.

Consumer debt to challenge FINCO

A major mortgage lender has warned it will be increasingly challenged to grow its loan book because COVID-19 has “compounded” the strain for Bahamians already highly leveraged on consumer debt.

National debt near $10bn at 2020 end

The Bahamas’ national debt was just shy of $10bn at year-end 2020, the Central Bank revealed yesterday, having increased by $1.4bn during the previous 12 months.

AG: New tax for BPC if royalties 'abysmally low'

The attorney general yesterday said the Government could impose a new tax on Bahamas Petroleum Company (BPC) if it declines to renegotiate "abysmally low" royalty rates that are the world's poorest.

S&P: Bahamas to shrink by 16%

Standard & Poor’s (S&P) last night forecast that the Bahamian economy will shrink by an “unprecedented” 16 percent in 2020 as it further downgraded this nation’s sovereign creditworthiness.

Doctors Hospital cuts 43 staff over 'blunt fiscal reality'

Doctors Hospital has revealed the termination of 43 workers after aggressive cost-cutting measures proved insufficient to offset “diminished patient activity”.The BISX-listed healthcare provider, in a statement issued at the weekend, warned that it w

Foreign reserves enjoy $200m restriction boost

The Central Bank’s governor yesterday said restrictions imposed on capital outflows have boosted the external reserves by $200m to-date, as he pledged: “Losing control of the peg is not an option.”John Rolle, unveiling the regulator’s economic assess

Scotia named Bahamas private banking leader

Scotia Wealth Management says it has been named by Global Finance Magazine as the best private bank in the Bahamas.

Bahamian law firm in running for key award

A prominent Bahamian law firm has been shortlisted in The Lawyer Awards 2020's Offshore Firm of the Year category.

‘Enormous sum’ for senator’s relatives

THE Auditor General says a Senator’s relatives stand to earn “an enormous sum” from leasing their Gladstone Road property to a government agency that typically loses over $1m per year.

Bahamas needs tax structure to match tourism

The Bahamas needs a tax structure that will attract the equivalent of 7m tourists to its financial services industry, a local banker argued yesterday. Gowon Bowe, Fidelity Bank (Bahamas) chief financial officer, told a webinar organised by the Chart

Kalik brewer: We'll retain 'at least' 90% of workers

Commonwealth Brewery yesterday pledged to retain at least 90 percent of its workforce as the final number of staff to be terminated in the latest redundancy exercise has not been determined.

BISX-listed firms warn on dividends

Several BISX-listed companies have warned shareholders against “undue optimism” that dividend payments will continue given the need to preserve cash and liquidity during the COVID-19 pandemic. Both JS Johnson and Family Guardian cautioned investors

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