Bahamas ‘negligent’ in protecting innovators
The Attorney General yesterday admitted The Bahamas has been “negligent” in protecting the innovations of its entrepreneurs by failing to keep pace with intellectual property (IP) safeguards.
No Bahamas taxes on Shell’s $1.55bn profits
The case for imposing a corporate income tax was yesterday said to be have been strengthened by revelations that a Shell subsidiary paid not a cent in tax on $1.55bn of profits generated in The Bahamas.
Restaurant entrepreneur targeting six franchisees
A Bahamian entrepreneur yesterday said he is seeking up to six franchisees at $150,000 apiece to expand his restaurant brand throughout this nation.
Potter’s Cay vendors: How was blaze allowed to occur?
All Potter’s Cay Dock vendors were yesterday said to be back in operation apart from the five stalls that were either destroyed or severely damaged by the weekend’s fire.
‘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”.
Chamber chief: Cost of living ‘is out of control’
Abaco’s Chamber of Commerce president says the cost of living is “getting out of control” as she warned the island can absorb no further hikes following the summer’s “exorbitant” light bills.
RBC blocked from twice seeking default damages
Royal Bank of Canada (RBC) has been blocked from pursuing damages twice over the same delinquent loan that a Bahamian jitney operator first defaulted on more than 12 years ago.
Mortgage loan approvals hit 4-and-a-half year low
Mortgage loan approvals have slumped to their lowest level in four-and-a-half years, it has been revealed, with almost one in four applications rejected because borrowers have a 50 percent debt service ratio.
Full-year fiscal outcome to be revealed this week
The Ministry of Finance’s top official says the 2022-2023 full-year fiscal performance will be unveiled this week and asserted that the “numbers are very encouraging”.
Royal Caribbean suspends excursions to Blue Lagoon
Royal Caribbean is reported to have temporarily suspended through Thanksgiving Day all passenger excursions to Blue Lagoon Island in the wake of last week’s tragic boat sinking.
LPIA to match or beat Thanksgiving records
The Bahamas’ major airport gateway yesterday said it expects passenger numbers for the upcoming Thanksgiving holiday weekend to meet or exceed pre-COVID’s 30,000-plus record.
Solar installation targets 15% UB energy cost cut
The University of The Bahamas (UB) is seeking to slash its energy costs by 15 percent via the installation of some 800 solar panels financed by an Inter-American Development Bank (IDB) project.
Governor urges: ‘Accelerate’ agency banking development
The Central Bank’s governor has urged financial institutions to “accelerate their thinking” on using agency banking to offer services in the Family Islands amid efforts to roll-out the necessary regulations in 2024.
ADVERTORIAL: CG Atlantic Invites Applications for 2024 Summer Internship Programme
CG Atlantic is excited to announce the opening of applications for its highly sought-after Summer Internship Programme. Geared towards college students and recent graduates aspiring to pursue a career in the insurance industry, this programme provides an invaluable opportunity to immerse oneself in the dynamic world of insurance. The in-person programme is scheduled to run from June to August 2024.
Fidelity ‘not revising’ $16m profits target
Fidelity Bank (Bahamas) yesterday said it is “not revising” its $16m profit target for the 2023 full-year despite its bottom line for the first nine months slumping by 31.5 percent year-over-year.
