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Banks suffer 37% profitability decline
Bahamian commercial banks saw total private sector loan arrears increase by $76m during the 2020 fourth quarter as the sector’s collective profitability shrunk by 37 percent year-over-year.
Nassau’s tourist arrivals just 2.7% of 2019’s 1m
Total tourist arrivals to New Providence during the 2020 fourth quarter amounted to just 2.7 percent of the prior year’s 1m visitors to further expose COVID-19’s drastic impact on the sector.
National debt near $10bn at 2020 end
The Bahamas’ national debt was just shy of $10bn at year-end 2020, the Central Bank revealed yesterday, having increased by $1.4bn during the previous 12 months.
Ole Miss Rebels in National Invitational Tourneys
BOTH Ole Miss Rebels basketball programmes feature Bahamians and both will be headed to National Invitational Tournaments in their respective divisions.
PM hails ‘defining moment’ for handling public finances
The prime minister yesterday hailed “a defining moment” in the government’s management of the public finances after a comprehensive regulatory reform package was debated in Parliament.
‘We’ll seize Sarkis’ damages if he wins’
Baha Mar’s receivers have threatened to claim any damages awarded to Sarkis Izmirlian if he wins his battle with China Construction America (CCA) so they can repay $1bn to the project’s lender.
FRONT PORCH: Time we threw off the last shackles of colonialism and unleash our real potential
ONE of the jarring realities the COVID-19 pandemic has revealed here at home is the degree to which the relationship of The Bahamas to the 21st century is tenuous.
Seven held in $330k drug bust
FIVE men and two women were arrested after a police search netted 13 croker sacks of suspected marijuana with an estimated street value of $336,000.
Tourism targets 45,000 visitor reopening peak
A Cabinet minister yesterday predicted stopover visitor arrivals will hit a 45,000 post-COVID re-opening peak for March - albeit they remain up to 90 percent down on pre-pandemic levels.
‘Coach Yo’ agrees to new, 4-year contract extension
The Ole Miss Rebels displayed their long term commitment to head coach Yolett McPhee McCuin and her vision for the women’s basketball programme with her second contract extension since she was named head coach in 2018.
BOB: ‘Break even excellent’ for 2021
Bank of The Bahamas’ top executive says it will “be excellent” if its closes its 2021 financial year in a “break even” position after incurring $20m in loan loss provisions over the past two years.
BTC facing ‘day by day’ fight on mobile rebound
The Bahamas Telecommunications Company (BTC) faces “a real day-by-day fight” to reclaim mobile market share lost to Aliv, its newly-appointed chief executive has admitted.
Leading banker hits out over VAT ‘maze’
The Government “created a maze” for the Bahamian private sector and consumers when it abandoned the low-rate, broad base VAT model, a prominent banker is arguing.
‘Buddy’ Hield scores nine, Knicks rout Kings 140-121
NEW YORK (AP) — Immanuel Quickley scored 18 of his 25 points in the first half, and Julius Randle had 21 points and 14 rebounds to power the New York Knicks to a 140-121 win over the Sacramento Kings last night.
Brewery’s $1.331m loss exposes COVID fall-out
Commonwealth Brewery yesterday unveiled a negative $11.685m bottom line reversal as full-year 2020 revenues slumped by 28.4 percent due to COVID-19’s economic devastation.
Top soccer chief’s home tied to Cavalier wind-up
The $20m home belonging to the chairman of one of England’s top Premier League soccer clubs has emerged as a potential major recovery source for Cavalier Construction creditors.
Bahamian student athletes take NCAA Division I spotlight
CHARLES Bain’s scoring output since last week’s senior night has been his best stretch of the season to highlight play from Bahamian student athletes in NCAA Division I basketball last weekend.
COVID - crime and choice
There were 73 people murdered in 2020, down from 95 person in 2019. This gives a homicide rate for 2020 of 18. 6 per 100 000. This is still considered an epidemic. According to United Nation, Homicide rate of 10 per 100 0000 or above is considered an epidemic.
‘Absolutely untrue’: PM blasts Davis on IMF bail-out claim
The prime minister last night slammed as “absolutely untrue” assertions by the opposition’s leader that The Bahamas is headed for an International Monetary Fund (IMF) supervised restructuring.
Fidelity: ‘We’ll recapture $10m COVID provisions’
A BISX-listed bank yesterday said it ultimately expects to recover two-thirds of last year’s $15m loan loss provision increase as it bids to shrug-off COVID-19 by more than doubling profits in 2021.
