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December air arrivals up 13% on pre-COVID

Stopover visitors for December 2022, which included the peak Christmas and New Year's tourism period, more than doubled year-over-year to beat the industry's pre-COVID performance by almost 13 percent.

Excess bank liquidity at $2.8bn by end-January

BAHAMIAN commercial bank surplus liquidity almost hit the $2.8bn mark at end-January 2023 even though the decline in the industry’s deposit base outpaced the contraction in domestic credit, it was revealed yesterday.

‘Enough is enough’ say gas dealers

THE vice president of the Bahamas Petroleum Dealers Association said to “stay tuned” as fuel retailers await government addressing a long-waited margin increase, saying the industry feels “enough is enough”.

FTX investors target Bahamas bank in suit

A Bahamian bank and its chairman yesterday pledged to “vigorously defend” themselves against a class action lawsuit’s accusations that they helped “perpetuate” an $8bn fraud by FTX’s founder.

CIBC profits drop 15% on inflation, provisions

A BISX-listed bank has blamed a combination of inflationary pressures and $22m year-over-year increase in loan loss provisions for a near-15 percent decline in its 2022 full-year profitability.

UB Mingoes men earn 10-1 win over Baha Juniors

THE University of The Bahamas men’s soccer team seemed as if it just could not stop scoring against Baha Juniors Football Club in Bahamas Football Association play on Sunday at the Roscow AL Davies field.

Repair projects target of $38m increase for Education

THE government has increased the capital budget allocation for the Ministry of Education and Technical and Vocational Training by over $30 million, Prime Minister Philip “Brave” Davis revealed in the House of Assembly yesterday.

‘Wary’ over deficit rise, $76m spend increase

Bahamians should be “wary” but not alarmed after the Government yesterday revealed a modest $11.4m increase to its forecast 2022-2023 fiscal deficit along with a similar-sized capital spending cut-back.

PM's mid-year budget communication: Revenue is up

PRIME Minister Phillip “Brave” Davis said for the first six months of the year, revenue collections are estimated at $1.2bn, which represents a $111.5m increase over the same period in the previous fiscal year.

PM meet’s ‘way to defuse’ VAT health claims dispute

The Prime Minister’s Business Round Table with senior corporate executives may have created a pathway for “defusing” the row over the VAT treatment of health insurance claims, one attendee said last night.

Rumour has it

ActivTrades

The ups and downs in the international markets continued last week. Robust economic data fuelled concerns about interest rates but, at the same time, consumer activity remained strong. This created a dilemma for many investors.

DIANE PHILLIPS: When hallmark holidays exact a toll on our soul, just bring on the super sports

SUPER Bowl Sunday was enough excitement for the week so when Valentine’s Day rolled around 48 hours later, some of us just weren’t quite ready for another celebratory occasion, though there’s little doubt that restaurants were full, jewellery was flying off the shelf and you couldn’t find a red rose in town unless you spray painted it.

Fidelity targets $25m annual profits despite 2022’s miss

Fidelity Bank (Bahamas) is targeting $25m in net profits for 2023 despite failing to achieve the same goal last year, its top executive revealed yesterday.

Cable’s $10.69m profits swing amid refinancing drive on Aliv

Cable Bahamas yesterday unveiled a positive $10.69m bottom line turnaround for the first half of its 2023 financial year despite encountering frustration over the pace of Aliv’s debt refinancing.

VAT health claims change may drain foreign reserves

THE changed VAT treatment on health insurance claims payouts could further drain The Bahamas’ foreign reserves by driving patients to seek care outside the country, a senior executive warned yesterday.

STATESIDE: Republican competition for presidential nominee warming up

WHAT state seems to be the centre of the American political universe these days? Some feel that it’s Florida, home now to both former president Donald Trump and his most talked-about potential heir, governor Ron DeSantis. The governor, aided by the Republican-controlled legislature, is plowing headlong into one culture war after another, from packing with conservatives the board of trustees at quirky, progressive New College in Sarasota to casting doubt about school curricula that teach youngsters about the history of African-Americans.

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