Finance

Greenslade warns on looms
Greenslade warns on looms

January 12, 2017

Commissioner of Police Ellison Greenslade yesterday warned participants of "looms" that "nothing is free"...

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No VAT on Baha Mar completion
No VAT on Baha Mar completion

January 05, 2017

THE Government was yesterday urged to divulge "the full cost to the Bahamian people" of its Baha Mar agreement after evidence emerged to show it had extended an exemption from Value-Added Tax to all companies and suppliers working on the construction completion of the resort...

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Statement from the Ministry of Foreign Affairs-Purported receipt from Saw Grass Mill for Bahamian Currency Exchange
Statement from the Ministry of Foreign Affairs-Purported receipt from Saw Grass Mill for Bahamian Currency Exchange

December 28, 2016

It has been brought to the attention of the Foreign Ministry that a receipt purporting to be an exchange of Bahamian dollars at the Sawgrass Mall in Florida for US currency has been posted on social media sites...

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IBC FirstCaribbean Donation helps sick Children Acquire Treatment
IBC FirstCaribbean Donation helps sick Children Acquire Treatment

December 23, 2016

“We are thankful for this CIBC FirstCaribbean donation which will go toward the aid and medical care of children afflicted with heart disease or who need heart surgery,” said Thelma Johnson, president of the Sir Victor Sassoon Heart Foundation...

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PM: We must prove SP wrong on downgrade

December 22, 2016

IN the wake of a downgrade by international credit rating agency Standard & Poor's to "junk" status, Prime Minister Perry Christie said it is up to his administration to prove them "wrong" as he lamented the fact that S&P did not fully appreciate the "weight" of Baha Mar's impending opening...

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Commonwealth Bank Low Rate of Non-Performing Loans Helps Drive 3rd Qtr Profits to 47.3 Million
Commonwealth Bank Low Rate of Non-Performing Loans Helps Drive 3rd Qtr Profits to $47.3 Million

December 21, 2016

Commonwealth Bank recently reported profits of $47.3 million for the nine-month period ending September 30. The profits report reflected a 7.6% increase over the same period one year ago when profits stood at $43.9 million....

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Canadian-Bahamian Friendship Celebrated in Tree-Lighting
Canadian-Bahamian Friendship Celebrated in Tree-Lighting

December 20, 2016

Last weekend the Botanical Gardens lit up with holiday cheer at the opening of its annual Christmas Village. The center of the celebrations was the lighting of a soaring, twenty-foot tall Christmas tree, donated by The Canadian Cultural Committee, with assistance from CIBC FirstCaribbean...

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CIBC FirstCaribbean Supports Bahamas Crisis Centre
CIBC FirstCaribbean Supports Bahamas Crisis Centre

December 20, 2016

With the holidays just around the corner, The Bahamas Crisis Centre recently received a financial boost from CIBC FirstCaribbean. The bank presented the non-profit organization with a cheque to assist with holiday programs and to help defray the cost of client needs and services...

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Final CLICO payments expected in january
Final CLICO payments expected in january

December 15, 2016

THE Christie administration has already paid $11m to CLICO (Bahamas) policyholders and intends to hand out an additional $38m in bonds, State Finance Minister Michael Halkitis told Parliament yesterday...

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Minister of Financial Services Meets with Consultants on Trade on Trade Liberialization Vulnerability Study

December 14, 2016

The Minister of Financial Services, the Hon. C.V. Hope Strachan met with Consultants from BKP Development Research and Consulting, an economic research and consulting firm based in Germany, and the World Trade Institute, an academic institution of the University of Bern, Switzerland, December 8, 2016...

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CIBC FirstCaribbean Wins Bahamas Bank of the Year
CIBC FirstCaribbean Wins Bahamas Bank of the Year

December 12, 2016

The Bahamas’ operations of CIBC FirstCaribbean International Bank has captured the prestigious 2016 Bank of the Year Country Award in The Banker Magazine’s 17th Annual Bracken Awards Programme. This is the bank’s fifth time winning the title for The Bahamas having been awarded...

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Linda Beidler-D'Aguilar Receives Minister's Award At Bahamas Financial Services Board Annual Awards Gala
Linda Beidler-D'Aguilar Receives Minister's Award At Bahamas Financial Services Board Annual Awards Gala

December 01, 2016

On Friday, 18 November at the Bahamas Financial Services Board Annual Awards Gala, Linda Beidler-D'Aguilar received the prestigious Minister's Award. The Minister's Award recognizes an individual who is deemed to have made outstanding contributions to the financial services sector of The Bahamas, and is a exceptional achievement within the financial services industry.

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FNM Deputy calls for thorough account of hurricane spending

October 31, 2016

EAST Grand Bahama MP Peter Turnquest has demanded that the Christie administration provide a thorough accounting of hurricane relief spending.

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Resolve loans were only worth $22.5M

October 28, 2016

James Smith, chairman of the Board of Directors of government's wholly-owned the special purpose vehicle (SPV) Bahamas Resolve Ltd. (Resolve), has confirmed that the 13 loans transferred from Bank of The Bahamas (BOB) to create the SPV -- supposedly worth $100 million -- were only worth about $22.5 million.

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Gov't to provide coupons for storm victims

October 28, 2016

The government will cover the cost of repairs for Hurricane Matthew victims in a certain income bracket, provide coupons for others to purchase building materials and in other cases offer low interest loans to certain people.

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Bowe: Calm fears over damage costs

October 27, 2016

AS fears within the business community swell over the government's ability to shoulder the massive losses incurred from Hurricane Matthew, Chamber of Commerce and Employers Confederation Chairman Gowon Bowe yesterday cautioned officials against sensationalising the damage estimates.

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Central Bank reports on Basel II/III impact

October 25, 2016

On average, 84 percent of licensees regulated by the Central Bank of The Bahamas (CBOB) experienced a decline in total capital adequacy ratio (CAR), and 95 percent of licensees would meet regulatory requirements in respect of minimum CAR under the Basel II/III framework...

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'Checks in place' to ensure $150m loan used properly

October 21, 2016

PRIME Minister Perry Christie yesterday insisted that the government had checks and balances in place to handle the $150m hurricane relief money it intends to borrow, as he responded to critics who have expressed doubt that the Christie administration is capable of fiscal responsibility of the funds.

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PM Christie: Hurricanes Matthew and Joaquin Losses Estimated in Hundreds of Millions

October 21, 2016

Prime Minister and Minister of Finance the Rt. Hon. Perry Christie told the House of Assembly, on October 19, 2016, that the losses to The Bahamas from Hurricanes Matthew and Joaquin could total hundreds of millions of dollars.

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Gov't to borrow $150M

October 21, 2016

Prime Minister Perry Christie said yesterday the estimate for the damage caused by Hurricane Matthew earlier this month is over half a billion dollars.

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