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Business

 
Kemp laments fiscal deficit growth under PLP
Financial Spokesman for the Democratic National Alliance (DNA) Youri Kemp estimated that the fiscal deficit could be “well over $630 million” by the next budget communication if the Christie administration does not manage to reign in its spending...
 
 
Komolafe: NHI fee schedule could impact public-private payment rate gap
There is a possibility that the finalized fee schedule with health care providers for National Health Insurance (NHI) could help to narrow the gap between payment rates taken on by the public and private healthcare sectors, according to Chairman of t...
 
 
Automall Bahamas recalls Toyota vehicles on defective airbag concerns
Another local car dealership has recently joined the campaign for the largest safety recall in automotive history in relation to defective airbags used by popular car manufacturers. Automall Bahamas, the authorized dealer in the country for Toyota, ...
 
 
New certifications for BTC team members
Bahamas Telecommunications Company (BTC) recently restructured its business division, with a special focus on small businesses. Najah Finlayson and Shenique Miller were recently trained, assessed and certified in the Start and Improve Your Business (...
 
 
Fiscal deficit up to $314.2 million
The Central Bank of The Bahamas (CBOB) has reported, that despite $761.9 million in taxes being generated during the first half of the 2016/2017 fiscal year, the fiscal deficit increased to $314.2 million for the period. The regulator, in its monthl...
 
 
URCA preparing for general election
The Utilities Regulation and Competition Authority (URCA) is readying itself for the general election to be called to ensure its rules for broadcasting during an election are sufficient and followed by its licensees. Speaking to journalists during a...
 
 
Non-performing loans increase to $731.3 million in January
Non-performing loans (NPLs) increased to $731.3 million in January 2017, according to The Central Bank of The Bahamas’ Monthly Economic and Financial Developments report for January 2017. The regulator said banks’ credit quality indicators improv...
 
 
BAMSI president touts successes, future plans of institute
The Food and Agricultural Organization (FAO) recognizes the Bahamas Agriculture and Marine Sciences Institute (BAMSI) as a global innovation found nowhere else in the world, according to BAMSI President Godfrey Eneas. Eneas, who is also The Bahamas'...
 
 
Cable Bahamas hits highest revenues in 22-year history
Cable Bahamas Limited’s (CBL) 2016 fourth-quarter and year-end consolidated results show its greatest ever revenues, topping $180 million with earnings before interest, tax, depreciation and amortization (EBITDA) of over $43 million. "All employee...
 
 
Water and Sewerage Corporation introduces paperless billing
Recent years have seen major technological advancements in the way that organizations interact with their customers. This is no less true of the Water and Sewerage Corporation (WSC), which has undergone a multitude of changes to improve its relations...
 
 
Davis, Darville updated on work at Fishing Hole Road Trestle Bridge, Fishing Village
FREEPORT, Grand Bahama – Deputy Prime Minister and Minister of Works and Urban Development Philip Brave Davis visited Grand Bahama on Thursday, for an impromptu visit to a number of sites where projects tendered by the government are presently unde...
 
 
Aliv takes 25% of cellular market in just three months
In just three months NewCo has grasped 25 percent of the available cellular market with its Aliv brand after investing $120 million, said Damian Blackburn, chief Aliv officer. Blackburn, speaking at the launch of Aliv’s business solutions at Atlan...
 
 
Komolafe: Baha Mar is not the panacea for The Bahamas’ fiscal challenges
Chairman of the Bahamas Insurance Association (BIA) Emmanuel Komolafe said yesterday that Baha Mar is not the only solution to resolving The Bahamas’ fiscal challenges, despite Moody’s placing a heavy burden on the resort’s success to boost eco...
 
 
CIBC FirstCaribbean’s non-performing loans down 40 percent
CIBC FirstCaribbean International Bank recorded a reduction in non-performing loans of almost 40 percent for the year 2016, according to the bank’s annual report published this week. The bank also experienced a net increase in productive loans of 2...
 
 
Potter’s Cay vendors in waiting game for govt’s new plan
Some Potter’s Cay Dock vendors are still feeling the pinch while waiting for the government to finally carry through with its plan to revitalize their stalls and improve the area directly under the bridge. Minister of Agriculture and Fisheries V. ...
 
 
WSC commissions two new water tanker trucks for Long Island
The Water and Sewerage Corporation (WSC) recently commissioned two new 1,500-gallon water tanker trucks which have been shipped to Long Island for immediate use. These water tanker trucks are the first phase of a much larger Long Island Water Supply...
 
 
Sandals partners with HeadKnowles on youth hurricane relief efforts
Sandals Royal Bahamian and the HeadKnowles Foundation have joined forces to continue efforts that focus on ensuring underfunded youth in the country receive assistance to continue their education. Sandals donated two pallets of school supplies and t...
 
 
Bahamas spared downgrade by Moody’s
International credit ratings agency Moody’s spared The Bahamas another downgrade yesterday, but warned the government that if its commitment to fiscal discipline “diminishes”, the country’s credit rating could once again be lowered. In its q...
 
 
Moody’s, S&P disagree on Baha Mar’s economic impact
The Bahamas government did not think Standard and Poor’s (S&P) gave Baha Mar’s imminent opening enough credence before the credit ratings agency downgraded this country’s sovereign credit rating to “junk” status. But credit ratings agen...
 
 
Smith lauds banking fees survey, but warns price controls could lead to market distortions
Former Central Bank Governor James Smith lauded the efforts of the Consumer Protection Commission (CPC) in finding out how the public feels about retail banking fees via a recent survey, but noted that price controls in the Bahamian economy could cre...
 
 
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