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Banks see 30% profits increase
Bahamian commercial banks collectively enjoyed a 30 percent year-over-year profit increase to $109.2m during the 2023 second quarter due to rising interest income, it was revealed yesterday.
‘Happy medium’ within sight on Business Licence anxiety
The Ministry of Finance’s top official last night voiced optimism that “a happy medium” is close over new Business Licence verification rules that were causing growing private sector anxiety.
Stopover visitors exceed pre-COVID high by 30%
Stopover arrivals beat pre-COVID highs by more than 30 percent in September with the economy forecast to hold its “growth momentum” into 2024, the Central Bank said yesterday.
INSIGHT: When actions don’t support the rhetoric
RIGHT now, people are sitting down to try to save the world. In theory, at least.
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.
Bahamian realtor generates $100m sales after rebrand
A rebranded Bahamian real estate firm generated $100m in property sales during its first week of operating under two international industry names.
Gas retailers: ‘This is the time’ for margin increase
Bahamian petroleum retailers yesterday urged “this is the time” to grant a margin increase following last week’s 64-cent price drop with many said to be on the brink of “throwing away the keys”.
BAHAMAS SUFFERS 2-1 LOSS TO USVI: The US Virgin Islands earn their first win
The Bahamas senior women’s national soccer team wrapped up their Road to CONCACAF Women’s Gold Cup experience with a 2-1 loss to the US Virgin Islands (USVI) in a home game at the Roscow AL Davies Soccer Field yesterday.
Nipped in the Bud: Brewery reversal over 40-year tie-up
Commonwealth Brewery yesterday suffered a reversal as the Court of Appeal sided with Budweiser’s global parent in the dispute over the termination of their 40-year Bahamian distribution deal.
No ‘rush of blood’ on corporate income tax
The Bahamas was yesterday urged “not to have a rush of blood” in moving too swiftly on corporate income tax as the Government inches towards issuing a ‘white paper’ on the subject.
PETER YOUNG: Immigration is top of agenda again in Britain
A widely familiar refrain is that politics is a dirty business.
‘Headwinds’ slash J S Johnson profit 12.54%
J S Johnson’s managing director is warning that “industry headwinds” across its business have slashed profits by 12.54 percent or almost $900,000 for the year to end-September 2023.
Aliv ‘set for success’ with $55m refinance
Cable Bahamas’ top executive yesterday asserted that an “up to” $55m refinancing package agreed with the Government will “set up Aliv for future success”.
Commonwealth cuts loan delinquency by up to 5%
Commonwealth Bank says non-performing loans have reduced by between 1-5 percent across all credit segments since year-end 2022 as its portfolio expands faster than market growth.
‘Incredibly difficult’ for middle class to ever purchase home
Middle class Bahamians will find it “incredibly difficult to ever get a home”, developers and realtors warned yesterday, with financing and other hurdles constantly being raised that “little bit higher”.
Public sector debt drops $93m during first quarter
Total public sector debt fell by $93m during the first quarter of the 2023-2024 fiscal year, it was disclosed yesterday, cutting it slightly from its June peak as the foreign currency share fell by 1.5 percentage points.
REBELS RUN AWAY WITH BATTLE 4 ATLANTIS TITLE: Coach Yo - first Bahamian coach to win the crown - and Ole Miss make history
The University of Mississippi Ole Miss Rebels pulled off a decisive 60-49 win over the University of Michigan Wolverines in the championship round of the third Bad Boy Mowers Battle 4 Atlantis women’s tournament yesterday at the Imperial Arena, Paradise Island.
‘Non-controllable’ cost surge blocks bank matching 2022
Commonwealth Bank believes it would have come close to matching 2022’s “extraordinary” nine-month profitability had it not been for $3m in new Business Licence fees and utility costs “more than doubling”.
OLE MISS REBELS ADVANCE TO FINALS: Pull off nine-point comeback victory against Wildcats at Battle 4 Atlantis
The University of Mississippi Ole Miss Rebels are headed to their first Battle 4 Atlantis finals after completing a 9-point comeback victory against the University of Arizona Wildcats at the Imperial Arena, Paradise Island, in the Bad Boy Mowers Battle 4 Atlantis women’s semifinals yesterday.
Fidelity ‘not revising’ $16m profits target
Fidelity Bank (Bahamas) yesterday said it is “not revising” its $16m profit target for the 2023 full-year despite its bottom line for the first nine months slumping by 31.5 percent year-over-year.
