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BISX fund eyeing up to $10m warehouse raise
A BISX-listed real estate yesterday said it plans to raise up to $10m within the next six months to finance development of its Carmichael Road warehouse after profits near-doubled during the 2023 first-half.
Gov’t told: Avoid ‘piecemeal approach’ over tax reforms
The Opposition’s leader yesterday urged the Government to avoid “a piecemeal approach” to reform in the FNM’s response to the corporate income tax proposal, warning: “We have a very small margin for error.”
Atlantis hits pre-COVID cash flows with $182m
Atlantis has “stabilised” its net cash flow at pre-COVID levels by generating $182.3m for the year to end-March 2023, it was revealed yesterday, as analysts reaffirmed the credit ratings on its $1.2bn debt.
Real estate ‘bull can only run for so long’
The Bahamian property market is “correcting itself” to more sustainable pre-COVID highs, realtors agree, with 2023 second quarter New Providence home sales down 21 percent as “the bull can only run for so long”.
Fidelity ‘ramp up’ after 30% first half profit fall
Fidelity Bank (Bahamas) yesterday pledged to “ramp up” its performance during 2023’s final months after a near-30 percent first-half decline put the “stretch” $25m profit target for the full year seemingly beyond reach.
Long-time PE teacher Hattie Moxey retires on August 31
WHEN the new school year begins in September at Jordan Prince Williams High School, one of the familiar faces returning students won’t see is long-time Physical Education Department head Hattie Moxey.
BISX-listed firms blame profits drop on inflation
Two BISX-listed companies have blamed surging inflation for a margin squeeze that resulted in first-half and second quarter 2023 profits slipping against prior year comparatives.
PETER YOUNG: People still in denial over climate change despite all the evidence
THE news from Hawaii this past week has been nothing short of terrible as the massive scale of utter devastation has become evident to the outside world. At the time of writing, there are 96 confirmed deaths from the wildfires that ravaged the island of Maui but, reportedly, hundreds of others are still missing.
‘Don’t price ourselves out’ on corporate income tax
Bahamian realtors yesterday said data showing they enjoy near-40 percent gross profit margins is “skewed very far off” as they urged the Government “to be careful we don’t price ourselves out of the market” over corporate income tax.
First BOB dividend in 11 years ‘a miracle’
Bank of The Bahamas’ first dividend payment for 11 years was yesterday hailed as “a miracle” by its long-suffering shareholders after it reported its second consecutive year with profits above $11m.
Bahamas destroys Cuba by 41 points
The top ranked Bahamas men’s national basketball team, arguably one of the best teams ever selected, posted an impressive 41-point rout over Cuba to start the FIBA Pre-Olympic Qualifying Tournament in La Banda, Argentina.
‘Burden cannot be heavier with corporate income tax’
Corporate income tax must not impose a heavier tax burden on businesses than what already exists, private sector executives are warning, while urging that such proposed reform cannot be viewed in “isolation”.
Seventeen FC, Flamingo FC to meet again in CFL finals
SEVENTEEN FC and Flamingo FC will square off on the Roscow A L Davies soccer field next week Sunday for the Capital Football Label (CFL) Summer Soccer Championship.
Mega Malt basketball camp ‘was a resounding success’
OLYMPIAN Frank Rutherford, with the help of two of his former native basketball recruits Lashann Higgs and Winslow Barry Jr, hosted another successful Mega Malt Basketball Camp and Clinic.
Restaurant chain eyeing 20% bond for expansion
A restaurant entrepreneur, who financed his expansion via crowdfunding, yesterday said he now plans to offer a short-term bond paying 20 percent interest to fund the $150,000 required for outfitting a third location.
Health premiums drop $15m on COVID travel cover end
Bahamian health insurers suffered a near-$15m year-over-year decline in group premiums last year due to the Government ending COVID-19 protection plan for visitors.
BISX-listed firm ‘qualified’ for second straight year
A BISX-listed company’s top executive yesterday moved to reassure shareholders after auditors issued a “qualified opinion” on its annual financial results for the second consecutive year over the same issue.
Inflation’s high but ‘not as frightening’
Inflation “may not be as frightening as it was a year to 18 months ago”, a governance reformer argued yesterday, despite food and beverage costs rising by almost 13 percent during the year to April 2023.
‘Major progress’ on one insurance law
Regulators say “significant progress” has been made in combining the Bahamian insurance industry’s regulatory regime into one law after the sector saw gross written premiums increase by $60m in 2022.
Governor trims Bahamas GDP growth to ‘3% range’
The Central Bank’s governor yesterday again trimmed his 2023 economic growth forecast to “the 3 percent range” as he warned The Bahamas is poised to next year “resettle” back into low expansion rates.
