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Story

Good start

ActivTrades

Strong big-tech balance sheets lifted Wall Street into positive territory at the end of last week. However, disappointment over the latest US labour market report limited gains.

Story

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.

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Brookfield exploring $2.5bn Atlantis sale

Brookfield Asset Management is looking to offload the Atlantis Paradise Island Resort - with a price tag of $2.5bn attached.

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Cost rises take 30% bite out of AML Foods profits

AML Foods yesterday revealed that increased costs and inflation took a bite out of its annual profits after net income for the 12 months to end-April 2023 declined by 30 percent year-over-year.

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Corporate income tax is 'wrong way around'

The Opposition's finance spokesman yesterday argued that The Bahamas has corporate income tax "the wrong way around" because the proposed reform options are forecast to suck "more money" from the private sector via taxation.

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Inflation to stay ‘high’ as food costs up 11%

The Central Bank yesterday warned Bahamian consumers that inflation will remain “high” in the near-term, and decline more slowly than in other countries, with food and drink prices rising 11 percent over the year to end-June 2023.

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‘Nothing to lose’ on 5% corporate tax

A Bahamian financial services provider yesterday argued that this nation should smash “conformity” by adopting a low-rate 5 percent corporate income tax, asserting: “We have nothing to lose.”

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Bahamas men spike way into semifinals

Ladies suffer third straight loss

The men’s national volleyball team, with a well-rounded effort from every player, swept aside Martinique in three straight sets to advance to the semifinals of the Senior Caribbean Volleyball Championships at the Anthony Nesty Sports Hall in Paramaribo, Suriname.

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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.

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Corporate income tax: Not ‘holding the bag’

The Bahamas Motor Dealers Association’s (BMDA) president says a corporate income tax levied on net profits would be “fantastic” for the industry if it eliminates a Business Licence regime that can tax companies into a loss.

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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”.

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Minister’s $185k CARIFTA ‘surplus’ came from 360% subsidy overshoot

A Cabinet minister yesterday asserted that last year’s CARIFTA games generated a $185,503 “net surplus” even though this was only made possible by a taxpayer subsidy over four times’ higher than budgeted.

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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.

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LPIA operator leaves its COVID debt woe behind

The Bahamas' major airport continues to leave its COVID debt woes behind it with the coverage ratio stipulated by its lenders now healthier than it has even been since the pandemic started.

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Baha Juniors take home Hummel title

The Baha Juniors women’s team will now join the Western Warriors men’s football club (FC) as Hummel Cup title winners. The team secured their championship hardware after defeating the defending champions, United FC at the Roscow AL Davies new soccer field.

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Jonquel Jones helps Liberty take Game 3 of WNBA Finals, avoid sweep

NEW YORK (AP) — Jonquel Jones scored 27 points and Breanna Stewart added 20 to help the New York Liberty beat the Las Vegas Aces 87-73 yesterday in the WNBA Finals and force a Game 4.

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‘Sting operations’ net 1,500 pounds of illegal grouper

A senior fisheries official yesterday revealed that “sting operations” over the past three weeks have netted more than 1,500 pounds of Nassau grouper caught illegally out-of-season.

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Cable targeting ‘monumental improvement’ via Aliv refinance

Cable Bahamas’ top executive yesterday asserted the group is poised for “monumental improvement” in profits if it can reach agreement with the Government on refinancing Aliv’s debt at lower interest costs.

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Businesses call for rapid transition to renewables

Bahamian businesses yesterday called for a more rapid transition to solar and other forms of renewable energy after Bahamas Power & Light (BPL) confirmed that it has resumed load shedding.

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8th annual cycling event eclipses $500K in fundraising for Exuma causes

The Tour de Turquoise, the charity cycling event that raises funds for vital causes in Exuma while boosting healthy living and community spirit, revealed today this weekend’s ride was the most successful in the event’s history, raising nearly $150,000 and pushing total donations since the event started past the half million-dollar mark.

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