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11.2% stopover growth 'third highest ever'

THE 11.2 per cent air arrivals growth rate achieved by the Bahamian tourism industry during the 2012 first quarter "is the third best on record", the minister of tourism and aviation said yesterday, revealing that he was working on plans to "eke out more business" in the traditionally slow September/October period.

RoyalStar: Acquisition in Cayman did 'not come off'

ROYALSTAR Assurance's $41.58 million capital base has given it an acquisition 'war chest', its managing director disclosing to Tribune Business that an attempted purchase in the Cayman Islands last year failed to "come off" due to differences over valuation.

Equities 'rebound'as trade volumes rise 71% in Q1

A LEADING investment banker yesterday said Bahamian share prices had "bottomed" and that the market was starting to "rebound", with collective trading volumes for all BISX-listed securities up 71.4 per cent year-over-year in the 2012 first quarter.

Bahamas Waste targets 34% profit rise, waste plant bids

BAHAMAS Waste has submitted bids for the multi-million dollar Pinewood Gardens and Gladstone Road wastewater treatment plants in a move to expand its service lines, Tribune Business was told yesterday, with the BISX-listed company projecting a 34.4 per cent net income increase for 2012.

GB Power minimises $4.7m recovery effect

GB Power minimises $4.7m recovery effect By NEIL HARTNELL Tribune Business Editor The Grand Bahama Power Company (GBPC) has received regulatory approval to minimise the consumer impact of recovering a $4.7 million impairment charge by spreading it out o

Bahamas Waste in 135% profits rise

DESPITE a 134.8 per cent year-over-year net income increase to $461,181, Bahamas Waste's managing director has revealed that results for 2011 were "still not as good as we had expected", with some business categories underperforming internal expectations.

Money isn't everything on the declarations - sometimes it's all about the plants

FOLLOWING each Nomination Day, when hopefuls become official general election candidates, the public eagerly anticipates the publication of their financial assets.

Political elite is a millionaires' club

BISHOP Simeon Hall hit out at the country's entire political class yesterday following the disclosure of candidates' assets.

$40m insurer 'outperforming market by considerable way'

ROYALSTAR Assurance's managing director yesterday told Tribune Business the general insurer had "outperformed everyone in the market by a considerable way" over the past nine years, although $1.4 million in net Hurricane Irene claims dropped its 2011 total comprehensive income by 15.7 per cent.

56 Bahamian millionaires target election wins

SOME of the Bahamas' wealthiest individuals, including 56 millionaires, are battling to become MPs in the General Election.

Rotary golf event moved due to election

A ROTARY club has rescheduled its fundraising golf tournament because of the General Election on May 7.

AML aims to 'double' its net profit margin

AML Foods is aiming to double net profit margins to 4 per cent, its chief executive telling Tribune Business yesterday that it was targeting year-over-year top-line growth of 16.4 per cent to $115 million for its current financial year.

Bahamas First suffers $6.5m bottom line hit

BAHAMAS First Holdings' (BFH) chief executive yesterday expressed concern about the "unprecedented" level of fire claims the general insurance group incurred in 2011, telling Tribune Business that together with Hurricane Irene-related losses these produced a collective $6.5 million bottom line hit.

Pledge to create safety net for lost jobs and homes

FREEPORT - PLP leader Perry Christie said his party will create a safety net to prevent Bahamians losing their homes or jobs.

Wednesday targeted for City Market close

CITY Markets principal has told Tribune Business that a deal to sell the supermarket chain's remaining four stores to Super Value had been finalised, adding that attorneys still sorting out the paperwork had suggested it might close on Wednesday.

Bahamian realtor at top industry summit

BAHAMAS Realty's chief executive has attended an Orlando summit featuring some of the world's top real estate firms and professionals.

Bahamas 'not very dynamic' on shareholder society move

THE Bahamas has not been a dynamic share owning society, a government minister said yesterday, urging more Bahamians to save and invest.

Cable Bahamas says: 'Expect great things'

Cable Bahamas says: 'Expect great things' By NEIL HARTNELL Tribune Business Editor Cable Bahamas yesterday warned Bahamians to "expect great things" in 2012, as it targets "significant upside" from its newly-launched fixed-line voice services that alrea

City Meat chief: $6-$10m to turn 4 stores around

CITY Markets' principal believes an investment of between $6-$10 million is required to turn the supermarket chain's remaining four New Providence stores around, telling Tribune Business he aimed to close their sale to Super Value "by the end of this week".

Insurance ensures 'no fiscal risk' from PLP mortgage plan

A LEADING architect of the Progressive Liberal Party's (PLP) mortgage relief plan is arguing that its so-called $105 million 'funding gap' would be covered by insurance, ensuring the Bahamas' "national financial position is not put at risk".

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