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Arawak port beats profit target by 18%
Nassau’s main commercial shipping port yesterday revealed it beat its full-year profits target for 2023 by some 17.7 percent or more than $1.4m compared to original forecasts.
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$657k ‘pipeline’ blockage kept ArawakX insolvent
The Bahamas’ first-ever crowd-funding platform was branded “no longer solvent at February 2023” by external auditors who warned that $656,500 in “pipeline” revenue could not be used to restore a “net equity” position.
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Man charged with stealing scooter and cash granted bail
A MAN was granted bail yesterday after being accused of stealing a man’s scooter and extorting $200 cash from him last week.
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Woman admits stealing $1,000 while employed at Starbucks
A WOMAN was ordered to do 200 hours of community service after admitting to stealing over $1,000 from Starbucks in Marina Village while she was working there last month.
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‘Non-controllable’ cost surge blocks bank matching 2022
Commonwealth Bank believes it would have come close to matching 2022’s “extraordinary” nine-month profitability had it not been for $3m in new Business Licence fees and utility costs “more than doubling”.
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Hitting near 3% growth to make ‘incredible difference’
Economic growth in the “upper 2 percent” range and above will make “an incredible difference” to The Bahamas’ economic prospects if achieved consistently, the Central Bank governor asserted yesterday.
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Delay dividends to give bigger payout, BOB told
Bank of The Bahamas should have waited to pay a more substantial dividend than its recent one cent per share declaration after a 49.6 percent jump in profits, an investor argued yesterday.
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Reserves stay ‘buoyant’ though growth reduced
The Central Bank yesterday said The Bahamas’ external reserves are set to remain “buoyant” in 2023 although June’s growth is $44.4m short of 2022’s expansion.
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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.
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Commonwealth cuts loan delinquency by up to 5%
Commonwealth Bank says non-performing loans have reduced by between 1-5 percent across all credit segments since year-end 2022 as its portfolio expands faster than market growth.
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Up to 200 jobs from $110m marina resort
THE Legendary Marina Resort is set to develop a $110m project in eastern New Providence that would deliver up to 200 jobs.
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Small home repairs programme has helped 50 of 200 people so far
DISASTER Reconstruction Authority executive chairman Alex Storr said the Small Homes Repairs Programme has to date repaired about 50 of a targeted 200 homes.
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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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All Andros and Berry Island Homecoming cancellation will impact 200 businesses
THE postponement of the All Andros & Berry Islands Homecoming event after a power outage in North Andros will affect up to 200 businesses, according to Bernard Evans, chairman of the All Andros and Berry Islands Committee.
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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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Embassy celebrates our shared story
THE US Embassy held an art competition for local students and twelve lucky winners won a $200 gift card and had their drawings featured in the embassy’s 2024 calendars.
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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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More than 200 eviction notices issued in Eleuthera shanty towns
THE Ministry of Works has issued over 200 eviction notices in Eleuthera shanty towns and hopes to post more this week.
