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Port’s profits to decline 7% despite pre-COVID bounce

Nassau’s major commercial shipping port is forecasting a 7 percent year-over-year profit decline for 2022 despite predicting container volumes will return to pre-COVID levels in the first quarter.

$6m claims jump drives Bahamas First into loss

Bahamas First has warned “it will take some time” to correct problems with its Cayman subsidiary’s life and health portfolio that have been blamed for a $6m-plus jump in claims payouts.

Cable and Gov’t hit by $41m Aliv losses

Aliv’s near-$41m loss for the year to end-June 2021 continues to drag on both its BISX-listed parent and the Government, just-released financial statements reveal.

BOB: Unleash us for commercial lending

Bank of the Bahamas’ managing director is urging the Central Bank to “level the playing field” by removing the restrictions imposed on its commercial lending in the wake of its near-collapse.

Cable targets $80m New Providence fibre roll-out

Cable Bahamas plans to invest $80m over the next two-three years on rolling out its New Providence fibre-to-the-home network, its top executive has revealed.

Kalik maker eyes 10% supply chain cost rise

Commonwealth Brewery is predicting that global supply chain disruption will increase its costs by 10 percent over the remainder of 2021 as it sustains its return to profitability.

‘We need more from resident billionaires’

The Bahamas “needs a little more than residency” from the multiple millionaires and billionaires that reside within its borders, an accounting firm’s principal is urging.

End to 12% VAT realty rate ‘shows we mean business’

Realtors yesterday hailed the Government’s decision to eliminate the 12 percent VAT rate on high-end property sales as “a very solid move”, adding: “It shows we mean business.”

Fidelity eyes $21m-$22m profit following ‘overshoot’

A BISX-listed bank is targeting full-year net income of $21m-$22m after its exceeding its budgetary target during the first nine months of 2021, its chief executive revealed yesterday.

Gov’t pays out $200m in COVID jobless aid

The Government had paid out more than $200m in COVID unemployment benefits at end-September 2021, it was revealed last night, although overall pandemic spending seems to be slowing.

GB Power targets 13% return on rate changes

Grand Bahama Power Company is seeking returns of close to 13 percent in its proposed revision to the island’s electricity tariffs, it can be revealed.

‘Buddy’ erupts for 25 in triple OT win, Jones scores first NBA points

IN an eventful weekend for Bahamian players in the NBA - Kings interim head coach Alvin Gentry continues to laud the growth of Chavano “Buddy” Hield, Deandre Ayton and the Phoenix Suns chase franchise history and Kai Jones got the first field goal of his NBA career.

GLIMMER OF HOPE: Ratings agency S&P sees economic upturn but private sector cautious

The Bahamas does “not have enough control over our own plight” to take comfort from Standard & Poor’s (S&P) belief that COVID devastation has “bottomed out”, it was argued yesterday.

Bahamas ‘like boxer with hand tied its behind back’

The Bahamas is “like a boxer with one hand tied behind its back” because it has failed to determine the true value of the Government’s multiple assets, a prominent banker argued yesterday.

Halkitis hits out at FNM over VAT Bill amendment

MINISTER of Economic Affairs Michael Halkitis accused the Free National Movement of continuing to “peddle its misguided tax policy” by trying to pass a last-minute amendment to the government’s Value Added Tax Bill in the House of Assembly last night.

Aliv: ‘Honeymoon period’ now over

Aliv’s top executive yesterday warned that “the honeymoon period” is over despite service revenues enjoying four successive month-over-month increases to hit $5m for October.

Office of the Spouse seeks greater protection for the nation’s children

ANN-MARIE Davis has committed the Office of the Spouse to working closely with the government, local non-profit groups and her CARICOM counterparts to bring more awareness and legislative proposals to offer greater protection for the nation’s children.

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