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Bahamas Waste: ‘Severe’ Baha Mar impact fears
Despite beating internal profit forecasts for the first nine months by 79 per cent, Bahamas Waste yesterday warned that its 2015 year-end results could be “severely impacted” if there is no Baha Mar resolution by then.
FINCO holds off dividend despite profit up 10-fold
Despite an almost 10-fold net profit increase in 2015, FINCO’s Board is citing the earnings “volatility” produced by “unacceptably high” bad mortgage loans and low growth as the rationale for no year-end dividend payment.
Baha Mar: Bahamian creditors owed $170m
The continuing uncertainty surrounding the $3.5 billion Baha Mar project is “jeopardising the Bahamas’ fragile growth prospects”, Standard & Poor’s (S&P) believes, with local companies owed a collective $170 million.
Bank stability at 7-year high on $400m profits
The Bahamian commercial banking sector’s stability hit a seven-year high in 2022, the industry’s regulator has revealed, as combined profits soared nearly 59 percent to just shy of $400m.
Brewery unveils'strong Q1' with44% profits rise
Commonwealth Brewery is today unveiling a "strong first quarter" for 2012 with net income up 44.2 per cent year-over-year, its management team telling Tribune Bus
DESPITE 41% OF HOTELS SUFFERING 2011 LOSS, MOST POSITIVE FOR 2012
By NEIL HARTNELL Tribune Business Editor Although more than half of this nation's hotels are positive on their 2012 outlook some 41 per cent still suffered a net loss last year, the Bahamas Hotel Association (BHA) yesterday unveiling a survey that was ti
DESPITE 41% OF HOTELS SUFFERING 2011 LOSS, MOST POSITIVE FOR 2012
By NEIL HARTNELL Tribune Business Editor Although more than half of this nation's hotels are positive on their 2012 outlook some 41 per cent still suffered a net loss last year, the Bahamas Hotel Association (BHA) yesterday unveiling a survey that was ti
Gov’t: We won’t add to gasoline pump prices
A Cabinet minister is voicing hope that reductions in global oil prices and energy costs will give Bahamian petroleum retailers some relief outside their long-desired 30 cents per gallon margin increase.
RoyalStar poised to acquire agency owned by shareholder
RoyalStar Assurance and its parent are poised to acquire the insurance agency operations of one of their major shareholders, multiple industry sources have revealed.
Gross govt borrowing leaps four-fold to $2bn
The government’s gross borrowings leapt four-fold year-over-year to more than $2bn during the six months to end-2020, it was revealed yesterday, exceeding what was projected for the full fiscal year.
Cable chief ‘bullish’ despite $17m losses
Cable Bahamas’ top executive yesterday said the company remains “very bullish” on its growth and future earnings prospects, despite suffering a near-$17 million net loss for the 2017 first quarter.
Kalik maker eyes 10% supply chain cost rise
Commonwealth Brewery is predicting that global supply chain disruption will increase its costs by 10 percent over the remainder of 2021 as it sustains its return to profitability.
$699m VAT collection lower than expected
THE Minnis administration collected $699.3m in value added tax in the 2018/2019 fiscal year, a 21.5 percent increase over the previous fiscal year, according to Deputy Prime Minister K Peter Turnquest yesterday.
BISX-listed Fund: ‘much changed’ if vacancy cut 50%
A BISX-listed fund’s administrator yesterday said “the picture will be much changed” by year-end 2019 if it succeeds in slashing vacant space at its flagship property by 50 percent.
Scotiabank beats target with 20% net income rise
Scotiabank (Bahamas) yesterday said it had “exceeded expectations” with the almost-20 per cent year-over-year net income increase it enjoyed in 2013, with the improvement largely driven by “stabilisation” in its non-performing loan portfolio.
VAT revenue boost equal to 2% of GDP
The Government believes that Value-Added Tax’s (VAT) introduction will generate a net revenue increase equivalent to 2 per cent of gross domestic product (GDP), and expects to achieve most of this from the ‘get go’.
3,000 now using social services cards
THE Department of Social Services has recently certified more than 1,000 additional eligible Bahamian families to use re-loadable pre-paid Visa cards instead of their food assistance coupons. Almost 3,000 people are now using the cards, five months since the launch of the scheme.
Top economist: Bahamas 20% current deficit a ‘concern’
A SENIOR Caribbean economist yesterday described the Bahamas’ current account deficit of roughly 20 per cent as “concerning”, revealing it was one of the widest she was aware of.
Bank bulish on earning figures
Bank bulish on earning figures Commonwealth Bank recently reported their earnings for the first quarter of 2012. Executive chairman William B Sands Jr announced that the bank's Comprehensive Net Income for the 3-month period ended March 31, 2012 was $12
