Insurer issues profits warning over COVID-19
Colina Holdings (Bahamas) has become the first BISX-listed company to issue a 2020 profits warning due to the COVID-19 pandemic’s impact. The parent of Colina Insurance Company, the life and health underwriter, told shareholders in footnotes to its
Super Value: March VAT 'highest ever'
Super Value’s president yesterday said its March VAT return was the “highest ever” after COVID-19 shoppers drove a 36 percent increase in store sales and even greater warehouse output.Rupert Roberts told Tribune Business that the 13-store supermarket
Auto insurance: 'Stop talking and let's get it done'
A leading Bahamian insurer says the industry and government must “stop talking and do it” over plans for vehicle insurance polices to be electronically uploaded into Road Traffic’s system. Anton Saunders, RoyalStar Assurance’s managing director, tol
Bridging digital divide in world's new reality
In an address to the nation on COVID-19, the Prime Minister said: “Innovation and trying new things are an essential part of what we must do at this time.” This statement was followed by Dr Hubert Minnis encouraging Bahamians to continue creating mor
Protective barriers keep plastics producer busy
A Bahamian manufacturer says it has been kept “pretty busy” by the demand from essential businesses for COVID-19 protective barriers to safeguard cashiers and other staff. Matthew Lawrence, Nassau Plastics’ production manager, told Tribune Business
Poultry producer: Keep egg-laying chicks away
The Bahamas’ largest poultry producer has no interest in the 7,000 layer birds being purchased by the Ministry of Agriculture because they cannot be placed together with meat producing chickens. Lance Pinder, Abaco Big Bird Poultry Farm’s operations
Spending 'explosion' with SOE losses squeeze govt
Mounting losses at troubled state-owned enterprises (SOEs) are squeezing the government amid “exploding” welfare demands, a Cabinet minister adding: “All arrows are pointing the wrong way.” Dionisio D’Aguilar, minister of tourism and aviation, told
Ramp-up COVID-19 testing to stop 'economic damage'
The Bahamas is in danger of “doing considerably more damage to the economy than it needs to” unless COVID-19 testing is massively ramped-up, a well-known businessman warned yesterday.Robert Myers told Tribune Business that the government was locking
Port's confidence boost in COVID-19 'darkest stages'
The Downtown Nassau Partnership’s (DNP) co-chair yesterday said the $250m cruise port developer’s decision to push ahead will provide a major confidence boost in “the darkest stages” of COVID-19.Charles Klonaris told Tribune Business that despite the
PM: 'No timetable' for phased re-open
The prime minister yesterday declined to give timelines for re-opening the Bahamian economy as he unveiled a six-phase strategy for achieving this objective. Dr Hubert Minnis, in unveiling the staged approach recommended by the National COVID-19 co-
Heart doctor heads to Privy Council on RoyalFidelity claim
A top Bahamian heart doctor has been given conditional leave to appeal to the Privy Council in his dispute with a local merchant bank over a margin loan. The Court of Appeal granted Dr Conville Brown permission to take his case to the highest court
Pandemic drives growing estate planning interest
The COVID-19 pandemic has sparked increased interest in estate planning among Bahamians, a long-serving trust professional says. Dianne Bingham, Leno Trust’s managing director, said she is receiving a record number of inquiries from persons “wanting
Contractors 'disappointed' not on recovery committee
The Bahamian Contractors Association (BCA) yesterday said it was “disappointed” that itself and the construction industry are not represented on the Prime Minister’s Economic Recovery Committee. Michael Pratt, the BCA’s president, told Tribune Busin
NIB: 20k jobless claims processed
The National Insurance Board (NIB) has paid out $16m in benefits, and processed more than 20,000 unemployment benefit claims, during the first month of the COVID-19 lockdown.Brensil Rolle, minister of the public service and national insurance, told t
Scotiabank reiterates warning on fraudsters
Scotiabank (Bahamas) yesterday repeated warnings that fraudsters are trying to deceive customer into parting with their private financial information. The bank again said it had received reports of customers receiving phone calls and text messages c
