Insurers welcome health VAT treatment deferral but issue “not off the table”.

NASSAU, BAHAMAS — Insurers say that while they welcome the government’s decision to defer the implementation of changes to the treatment of Value-Added Tax (VAT) on health insurance, the issue has been taken “off the table.” Marcus Bosland, Chairman of The Bahamas Insurance Association’s (BIA) health insurance committee said: “The government has indicated and we first […]

FTX Bahamas subsidiary branded a ‘front’ for fraudulent transfers in court filings

NASSAU, BAHAMAS — Lawyers for FTX have filed a complaint in a US bankruptcy court claiming that the company’s Bahamian subsidiary FTX Digital Markets is a legal and economic ‘nullity,’ which had been merely created as a ‘front’ to facilitate fraudulent transfers. In the complaint filed against FTX Digital Markets and its joint provisional liquidators […]

Mother Pratt Foundation donates medical supplies to Ministry of Health

NASSAU, BAHAMAS — The Mother Pratt Foundation has donated essential medical supplies to the Ministry of Health and Wellness earmarked for clinics throughout The Bahamas. Continuing the fight against COVID-19, Cynthia “Mother” Pratt, through the assistance of donors in the United States, donated the “fighting instruments” including disinfectant, gloves, hand sanitizers, and masks, to Minister […]

NO VIOLATION: PM Davis affirms confidence in Education minister over RCI comments

Opposition calls for Hanna-Martin to resign NASSAU, BAHAMAS — Prime Minister Philip Davis last night defended Education minister Glenys Hanna-Martin’s recent comments about the pending deal with Royal Caribbean International (RCI) on Paradise Island as a reflection of her longstanding political advocacy and not a violation of the Ministerial Code.  Hanna-Martin told reporters last week […]

First Caribbean Bank sees solid Q1 performance with net income of $28.6 million

NASSAU, BAHAMAS — First Caribbean International Bank (Bahamas) saw a $16.4 million increase in its first quarter results year-over-year. The bank’s managing director Jacqui Bend in a review of results for the three months ended January 31, of this year, noted that the BISX-listed lender had delivered solid results in its first quarter having reported […]