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Insurer beats 2015 profit goal by 7.3%

A Bahamian property and casualty insurer yesterday revealed it had beaten its own 2015 profit expectations by 7.34 per cent, even though its bottom line declined by almost $700,000 year-over-year.

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$102m Baha Mar plant 'net project benefit'

Alternatives to the current design of Baha Mar’s proposed $102.3 million Seawater District Cooling (SDC) plant are not viable, its proponent arguing that the project has a “net benefit” and will cause only minimal coral loss in “an already degraded area”.

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Governor trims growth forecast ‘closer to 4%’

The Bahamas’ stopover visitor numbers rebounded to 97 percent of pre-COVID levels in the 2023 first quarter, the Central Bank’s governor said yesterday, while slightly trimming his full-year economic growth forecast.

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Cruise port’s $300m finish moved back to early 2023

The completion of Nassau Cruise Port’s $300m transformation has been pushed back to early 2023, its top executive has revealed, with $110m worth of landside and buildings construction now set to move into high gear.

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Bank warns on provisions rise

BANK of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling" with the inability to rapidly sell distressed real estate assets.

Aviation industry 'not given its due'

Aviation industry 'not given its due' By NEIL HARTNELL Tribune Business Editor Developing a Bahamian aircraft registry could ultimately lead to spin-offs such as a "maintenance facility equivalent in size to Miami", an attorney yesterday urging: "Now is

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Target ‘big boys’ first with corporate taxes

The Bahamas should initially only target companies generating more than $5m or $10m in annual net profits with a corporate income tax, a well-known attorney is arguing.

Development Bank eyes 37% loss fall

THE Bahamas Development Bank’s (BDB) chairman expects a 37 per cent reduction in its 2017 net loss to $1.2 million, and pledged: “We are headed in the right direction.”Lynden Nairn told Tribune Business in a recent interview that the Board is laying

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BTC suffers $30m blow from Dorian

The Bahamas Telecommunications Company (BTC) has been dealt a $30m blow by Hurricane Dorian with network repairs set to last into 2020, it was revealed last night.

‘Unusual’ claims volume knocks Summit off peak

A Bahamian insurer has blamed “an usually large number of claims” for a non-hurricane year resulting in 2018 profits being slashed almost in half.

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You get less time for manslaughter – what judge said as woman appeals against sentence for COB theft

APPELLATE judges yesterday questioned whether a Supreme Court judge was right in sentencing a former College of the Bahamas employee to potentially 20 years in prison for stealing over $700,000 from the institution over a seven-year period.Appellate

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BUSINESS BITES: Some welcome clarity from Cable Bahamas

In its quarterly financial report through March 31, 2019, Cable Bahamas for the first time has added management comments to the usual bare-bones figures —a practice that should become standard for all BISX-listed companies.

Bahamas 'leaps and bounds' behind rivals on renewable energy

RIVAL Caribbean nations are “leaps and bounds ahead of the Bahamas” on renewable energy implementation, although one local provider is aiming to close the gap by investing in development of a trained installation workforce.

Panthers set to host Independence volleyball tournament

IN an effort to provide an opportunity for the local players to get ready for the New Providence Volleyball Association season, the Central Gas Lady Panthers Club is scheduled to host its first Independence Volleyball Tournament.

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DNA calls for full probe of elected officials’ assets

DNA Leader Branville McCartney yesterday called for an investigation into the assets of all past and present officials elected to public office, including prime ministers.

Airline: Combined tax impact forces business model review

A Bahamian-owned airline yesterday said it will “have to look at our whole business model again”, with the combined effect of multiple tax increases negating its $3 million-plus investment in a new service hangar.

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National debt growth slows as hits $11.5bn

The national debt's growth rate slowed below 1 percent during the three months to end-March 2023 as the total sums owed by The Bahamas to its creditors rose to just under $11.5bn.

Just 8% of arable land being used for farming

Just 8 percent of all land allocated for Bahamian farming is presently being used for such purposes, it was revealed yesterday.

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Gov’t slashes Q1 deficit by $116m

The Government’s fiscal deficit for the 2022-2023 first quarter was slashed by $116m year-over-year, it was revealed yesterday, with its revenues running 4-5 percent ahead of projections.

Gov’ts deficit jumps $75m but below full-year run rate

The Government incurred a $75m October deficit after it was yesterday revealed that monthly spending on goods and services more than doubled to drive a 24.5 percent year-over-year recurrent spending increase.