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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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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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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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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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‘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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BISX-listed insurer's $6.5m from Deltec's Ansbacher buy
A BISX-listed insurer is due to ultimately receive just over $6.5m from last year's sale of Ansbacher (Bahamas) to Deltec Bank & Trust.
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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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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.
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Bank stability at 7-year high on $400m profits
The Bahamian commercial banking sector’s stability hit a seven-year high in 2022, the industry’s regulator has revealed, as combined profits soared nearly 59 percent to just shy of $400m.
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Kaitlyn first Bahamian female to participate in collegiate water polo
KAITLYN Williams, the first Bahamian female to participate in collegiate water polo, scored a goal as the Iona Gaels women’s water polo picked up a 15-13 overtime win over Salem over the weekend.
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Mingoes start slow against Inter-Nassau, pull off 4-0 victory
THE University of The Bahamas men’s soccer team started slow against Inter-Nassau FC – 17 in their Bahamas Football Association match.
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GB entrepreneur to crowd fund entertainment centre
A Grand Bahama entrepreneur will formally announce his bid to crowd-fund the development of an entertainment centre on February 3.
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Governor trims growth forecast ‘closer to 4%’
The Bahamas’ stopover visitor numbers rebounded to 97 percent of pre-COVID levels in the 2023 first quarter, the Central Bank’s governor said yesterday, while slightly trimming his full-year economic growth forecast.
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National debt growth slows as hits $11.5bn
The national debt's growth rate slowed below 1 percent during the three months to end-March 2023 as the total sums owed by The Bahamas to its creditors rose to just under $11.5bn.
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Just 8% of arable land being used for farming
Just 8 percent of all land allocated for Bahamian farming is presently being used for such purposes, it was revealed yesterday.
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Doctors Hospital: Blake Road revenues surge on gov’t deal
Doctors Hospital has revealed that in-patient revenues at its Blake Road facility near-quadrupled during its 2024 first quarter due to the deal to treat public healthcare patients there.
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CARIFTA TV payment cut in half on contract breach
An upfront $50,000 cash payment related to broadcasting rights for last year’s 50th CARIFTA track and field championships was cut by 50 percent after organisers breached the contract.
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Cable 'accelerates' fibre due to Elon Musk threat
Cable Bahamas is "accelerating" the roll-out of its fibre-to-the-home network infrastructure in response to the competitive "threat" posed by Elon Musk's Starlink, its chief executive revealed yesterday.
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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.
