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Reserves hit $2.9bn on Gov’t borrowing boost
The Bahamas’ foreign currency reserves expanded by almost $169m in May due to a boost from the Government’s external borrowing activities as they closed the month at near-$2.9bn.
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Chelsea-Barcelona, Madrid-Bayern to face off in Champs League semifinals
By ROB HARRIS AP Sports Writer LONDON (AP) -- Cristiano Ronaldo's double ensured Real Madrid easily ended APOEL Nicosia's extraordinary Champions League run yesterday and set up a semifinal with Bayern Munich, while Chelsea will next face holder Barcelona
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$7.5M borrowing for social safety net approved
A RESOLUTION to borrow $7.5 million for the government’s Social Safety Net Programme was passed in the House of Assembly yesterday.
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Political elite is a millionaires' club
BISHOP Simeon Hall hit out at the country's entire political class yesterday following the disclosure of candidates' assets.
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Colina Holdings profits 'moderated' at $5.6ms
Colina Holdings profits 'moderated' at $5.6ms BISX-listed Colina Holdings (Bahamas) last night said it achieved "moderated" net income of $5.6 million for its 2011 financial year, as its performance was impacted by the slow economy and cut in the Bahamia
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Lincoln Bain defends declared net worth and liabilities
COALITION of Independents leader Lincoln Bain defended his $1.8m net worth yesterday, telling The Tribune that he gained his wealth through a successful investment strategy.
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Arawak port beats Q1 profits target by 56%
Nassau’s main commercial shipping port is targeting an $808,000 year-over-year increase in net profits for its 2023 financial year after first quarter net income exceeded forecasts by some 56 percent.
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10% increase for social safety net
THE government will next month increase the rates of the Social Safety Net Benefits Assistance Programme by ten percent across the board, according to Social Services and Urban Development Minister Obie Wilchcombe.
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BOB profits decline $1m on 141% credit loss rise
A 141 percent increase in loan loss provisions due to Hurricane Dorian and new accounting treatments have been blamed for cutting Bank of The Bahamas’ first-half profits by more than $1m. The BISX-listed institution, unveiling its results for the si
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Source: Gordon agrees to max deal with Suns
PHOENIX (AP) -- Restricted free agent guard Eric Gordon has agreed to a four-year deal with the Phoenix Suns worth about $58 million, a person familiar with the talks told The Associated Press. The New Orleans Hornets have the right to match the deal and k
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CIBC lay-offs 30% below projections
CIBC FirstCaribbean International Bank (Bahamas) managed to cut projected lay-offs by 30 per cent through switching employees to other posts, as one-off charges forced into a record $147.8 million net loss for its 2014 financial year.
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URCA: Renewable policies not working
Bahamian energy regulators have conceded their renewable policies are “not attractive” for companies and investors seeking to enter the sector, and are proposing a pricing structure switch.
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$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.
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RoyalStar profits drop 73% in 2016
RoyalStar Assurance saw its 2016 profits decline by 72.8 per cent year-over-year due to Hurricane Matthew, with drove a more than-$4 million increase in net claims after reinsurance payouts.
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Foreign reserves take $45m hit, the Central Bank reports
The Central Bank says foreign reserves contracted in the month of July by $45m and will continue to fall on the back of weak tourism demand as they also forecast the economy will continue on this path for the reminder of the year.
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Renewable operators ‘prefer’ net metering
Bahamas Power & Light’s (BPL) ‘small-scale renewable generation’ proposal has been hailed as “long overdue” by industry operators, despite misgivings over the chosen compensation method.
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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.
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J. S. Johnson hit by 56% underwriting fall
A 56 per cent drop in underwriting income from its Insurance Company of the Bahamas (ICB) affiliate slashed J. S. Johnson’s 2012 half-year profits by 14 per cent, with Hurricane Sandy possibly having put paid to hopes of an improved second half.
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GB Power’s $32m issue ‘likely oversubscribed’
Grand Bahama Power Company’s (GBPC) $32 million private preference share issue was last night said by capital markets sources to be “pretty much fully subscribed”, with analysts expecting it to exceed its target.
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Matthew blows Summit off ‘five-year peak’ track
A Bahamian insurer yesterday said it was “on track to have our best year for five years” until Hurricane Matthew intervened, dropping total comprehensive income by 61.7 per cent year-over-year.
