Govt's $50m loan recovery via BPL fuel charge hikes
The Government is seeking to recover $50m in advances made to Bahamas Power & Light (BPL) via fuel charge hikes of up to 163 percent that will be imposed on households and businesses in 2023, it emerged yesterday.
Unified bus dispatch centre close to ready
THE dispatch centre that will play a key role in efforts to unify New Providence’s jitney system is expected to be unveiled within the next month, it was confirmed yesterday.
Credit bureau database has 50% of population
THE Bahamas’ first-ever credit bureau yesterday estimated it now has half the country’s population in its database with all commercial banks and credit unions supplying it with their clients’ files.
Union unveils multiple grievances with BPL
UNION leaders yesterday unveiled multiple grievances with Bahamas Power & Light (BPL) relating to the processing of union dues, pension and medical benefits, and the re-engagement of retirees.
‘Scary’ food hikes starting to stabilise
Bahamians “finally have some hope” that food price inflation is easing, Super Value’s president says, while admitting that the past two years have been “scary” for both retailers and consumers.
Decades-old systems hit fiscal reporting deadlines
The Government’s fiscal transparency drive has burdened decades-old accounting and payroll systems with legally-mandated reporting deadlines they are not equipped to meet, a top official is asserting.
‘Egregious conduct’: Ex-PLP MP faces law profession axe
A former PLP MP and Senator faces being disbarred from the Bahamian legal profession over “the most serious and egregious” conduct related to client monies that were to pay $116,300 in due taxes.
‘Every 100 migrants cost taxpayers $500k’
The Ministry of Finance’s top official has voiced fears that the migration crisis could “throw our Budget off completely” with taxpayers incurring an additional $500,000 in costs for every 100 new arrivals reaching Bahamian shores.
DEREK SMITH: Make best strategic use of your Board’s directors
CORPORATE governance has been transformed over the past century from an ‘old boys clubhouse’ to a strategic asset focused on preparing a company to withstand future volatility in markets, human capital, competition, money laundering, cyber crimes and other factors. According to Forbes contributor Betsy Atkins: “When we look back five years from now, governance 4.0, the era of future-proofing, will seem the obvious thing we should have embraced sooner.”
Atlantis concern over cruise line’s PI environment impact
AN ATLANTIS executive says the Paradise Island mega resort has concerns over how Royal Caribbean Cruise Lines (RCCL) plans to mitigate any environmental risks resulting from its proposed Beach Club project.
Cotton Bay revival targeting $12m yearly wage, tax boost
REPRESENTATIVES of the developer behind the Cotton Bay Club’s $200m revival have forecast that the project will generate an annual $12m economic impact in wages and taxes alone when fully operational.
Rumour has it
ActivTrades
The ups and downs in the international markets continued last week. Robust economic data fuelled concerns about interest rates but, at the same time, consumer activity remained strong. This created a dilemma for many investors.
Fidelity targets $25m annual profits despite 2022’s miss
Fidelity Bank (Bahamas) is targeting $25m in net profits for 2023 despite failing to achieve the same goal last year, its top executive revealed yesterday.
Cable’s $10.69m profits swing amid refinancing drive on Aliv
Cable Bahamas yesterday unveiled a positive $10.69m bottom line turnaround for the first half of its 2023 financial year despite encountering frustration over the pace of Aliv’s debt refinancing.
Bahamas liquidators set to access ‘elusive’ FTX data
FTX’s Bahamian liquidators believe they will soon gain access to critical records that have “so far eluded them” while avoiding the risk of costly and time-consuming legal battles in Delaware.
