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Arawak port beats Q1 profits target by 56%

Nassau’s main commercial shipping port is targeting an $808,000 year-over-year increase in net profits for its 2023 financial year after first quarter net income exceeded forecasts by some 56 percent.

CIBC lay-offs 30% below projections

CIBC FirstCaribbean International Bank (Bahamas) managed to cut projected lay-offs by 30 per cent through switching employees to other posts, as one-off charges forced into a record $147.8 million net loss for its 2014 financial year.

URCA: Renewable policies not working

Bahamian energy regulators have conceded their renewable policies are “not attractive” for companies and investors seeking to enter the sector, and are proposing a pricing structure switch.

$6m claims jump drives Bahamas First into loss

Bahamas First has warned “it will take some time” to correct problems with its Cayman subsidiary’s life and health portfolio that have been blamed for a $6m-plus jump in claims payouts.

Matthew blows Summit off ‘five-year peak’ track

A Bahamian insurer yesterday said it was “on track to have our best year for five years” until Hurricane Matthew intervened, dropping total comprehensive income by 61.7 per cent year-over-year.

J. S. Johnson hit by 56% underwriting fall

A 56 per cent drop in underwriting income from its Insurance Company of the Bahamas (ICB) affiliate slashed J. S. Johnson’s 2012 half-year profits by 14 per cent, with Hurricane Sandy possibly having put paid to hopes of an improved second half.

GB Power’s $32m issue ‘likely oversubscribed’

Grand Bahama Power Company’s (GBPC) $32 million private preference share issue was last night said by capital markets sources to be “pretty much fully subscribed”, with analysts expecting it to exceed its target.

External reserves jump on banks’ $84m inflow

The Bahamas’ external reserves grew by almost $55m in February 2022 as commercial banks collectively received a net $84.2m foreign currency inflow from their customers.

Doctors Hospital in 'second record' before COVID-19

Doctors Hospital says a 30.4 percent cut in losses at its Blake Road facility, combined with increased patient revenues, drove a “second consecutive year of record” financial results during the 12 months to end-January. The medical services provider

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.

Port’s profits to decline 7% despite pre-COVID bounce

Nassau’s major commercial shipping port is forecasting a 7 percent year-over-year profit decline for 2022 despite predicting container volumes will return to pre-COVID levels in the first quarter.

Renewable operators ‘prefer’ net metering

Bahamas Power & Light’s (BPL) ‘small-scale renewable generation’ proposal has been hailed as “long overdue” by industry operators, despite misgivings over the chosen compensation method.

Great Exuma Classic winners

The Bahamas Golf Federation held it’s annual Great Exuma Classic last weekend at the Sandals Emerald Bay Golf Course and extends congratulations to the following winners.

Bahamasair targets 8% loss reduction

BAHAMASAIR is aiming to reduce its net loss by $1.7 million or 8 per cent during the upcoming fiscal year, the Deputy Prime Minister conceding that much remains to be done to make the national flag carrier fully efficient and less dependent on taxpayer.

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