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International certification for GBPA department

THE Building and Development Services at the Grand Bahama Port Authority received ISO 9001 certification, a globally recognised standard for quality management.

ALICIA WALLACE: Join in the call for global strike and ceasefire for Palestine

This week, I am participating in the strike for Palestine, and I invite you to join for the remainder of the week if you are not already participating. This global strike week is about disrupting business as usual.

Call for immediate ceasefire

JOINING the voices of non-governmental organisations, feminist movements, and activists all over the world, Equality Bahamas calls for an immediate ceasefire and an end to the occupation of Palestine by Israel.

Mullings and McCoy break national records

With personal best performances in six of the seven individual events, Ken Mullings combined his points total to improve on his own Bahamas national record in the men’s heptathlon, while producing a world-leading performance.

Sporting leaders’ sneak preview for year 2024

As the sporting bodies prepare for the 2024 season, leaders of various local associations and federations expressed their views on what they anticipate to do in their respective disciplines.

Banks see 30% profits increase

Bahamian commercial banks collectively enjoyed a 30 percent year-over-year profit increase to $109.2m during the 2023 second quarter due to rising interest income, it was revealed yesterday.

Central Bank expects growth at ‘moderated pace’ in economy

The Central Bank revealed yesterday that the reduction in external reserve balances for November slowed by over $77.8m from 2022, reflective of net foreign currency outflows through the private sector.

Lincoln Bain defends declared net worth and liabilities

COALITION of Independents leader Lincoln Bain defended his $1.8m net worth yesterday, telling The Tribune that he gained his wealth through a successful investment strategy.

National debt up as spending rises faster than revenue growth

The Central Bank revealed yesterday that the national debt grew by $206m over the last quarter.

'Decade of contraction' ends with $50m credit expansion

The Central Bank's governor yesterday revealed "a decade of steady contraction" in lending to the private sector was halted by 2023's $50.3m credit expansion although mortgage activity remained "subdued".

‘Headwinds’ slash J S Johnson profit 12.54%

J S Johnson’s managing director is warning that “industry headwinds” across its business have slashed profits by 12.54 percent or almost $900,000 for the year to end-September 2023.

Commonwealth hails $63.5m profit amid 91% claw back fall

COMMONWEALTH Bank yesterday hailed its “second most profitable” year-ever through $63.5m in net income that was generated despite a near-91 percent drop on COVID loss provision write-backs.

Arawak port beats profit target by 18%

Nassau’s main commercial shipping port yesterday revealed it beat its full-year profits target for 2023 by some 17.7 percent or more than $1.4m compared to original forecasts.

Hitting near 3% growth to make ‘incredible difference’

Economic growth in the “upper 2 percent” range and above will make “an incredible difference” to The Bahamas’ economic prospects if achieved consistently, the Central Bank governor asserted yesterday.

‘Non-controllable’ cost surge blocks bank matching 2022

Commonwealth Bank believes it would have come close to matching 2022’s “extraordinary” nine-month profitability had it not been for $3m in new Business Licence fees and utility costs “more than doubling”.

Delay dividends to give bigger payout, BOB told

Bank of The Bahamas should have waited to pay a more substantial dividend than its recent one cent per share declaration after a 49.6 percent jump in profits, an investor argued yesterday.

Commonwealth cuts loan delinquency by up to 5%

Commonwealth Bank says non-performing loans have reduced by between 1-5 percent across all credit segments since year-end 2022 as its portfolio expands faster than market growth.

Minister’s $185k CARIFTA ‘surplus’ came from 360% subsidy overshoot

A Cabinet minister yesterday asserted that last year’s CARIFTA games generated a $185,503 “net surplus” even though this was only made possible by a taxpayer subsidy over four times’ higher than budgeted.

LPIA operator leaves its COVID debt woe behind

The Bahamas' major airport continues to leave its COVID debt woes behind it with the coverage ratio stipulated by its lenders now healthier than it has even been since the pandemic started.

‘Sting operations’ net 1,500 pounds of illegal grouper

A senior fisheries official yesterday revealed that “sting operations” over the past three weeks have netted more than 1,500 pounds of Nassau grouper caught illegally out-of-season.

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