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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.

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.

BTC suffers modest Q1 revenue, subscriber fall

The Bahamas Telecommunications Company (BTC) was yesterday revealed to have suffered modest year-over-year declines in both revenues and subscribers, with both largely flat for the 2023 first quarter.

Scotiabank playing its part in climate change battles

The recent spate of mega storms, hurricanes and other natural disasters in the Caribbean has served as a stark reminder of how our way of life is affecting the climate. It is a wake-up call for us to seriously reconsider our treatment of planet earth.

Albany developer charged on ‘brazen insider trading’

The Bahamas-based billionaire who spearheaded Albany’s development was yesterday charged with orchestrating a “brazen insider trading scheme” that allegedly netted millions of dollars in illicit profits for his closest associates.

200 jobs through Ocean Club’s $400m expansion

The Ocean Club’s upcoming $400m expansion will create 200 full-time jobs once the development is fully completed in 2027, the project’s partners have revealed.

Yacht broker alarm on 'dismal' winter charters

Bahamian yacht brokers yesterday warned charter bookings for the peak winter season are "dismal" with the sector "almost at a standstill" due to VAT's imposition and lack of clarity on how it works.

Banks see 30% profits increase

Bahamian commercial banks collectively enjoyed a 30 percent year-over-year profit increase to $109.2m during the 2023 second quarter due to rising interest income, it was revealed yesterday.

Migration a major contributor to increase in population according to census report

THE population of The Bahamas increased by 13.6 per cent from 2010 to 2022, with net migration emerging as the primary reason.

Central Bank expects growth at ‘moderated pace’ in economy

The Central Bank revealed yesterday that the reduction in external reserve balances for November slowed by over $77.8m from 2022, reflective of net foreign currency outflows through the private sector.

First BOB dividend in 11 years ‘a miracle’

Bank of The Bahamas’ first dividend payment for 11 years was yesterday hailed as “a miracle” by its long-suffering shareholders after it reported its second consecutive year with profits above $11m.

BISX-listed firms blame profits drop on inflation

Two BISX-listed companies have blamed surging inflation for a margin squeeze that resulted in first-half and second quarter 2023 profits slipping against prior year comparatives.

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.

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.

'Decade of contraction' ends with $50m credit expansion

The Central Bank's governor yesterday revealed "a decade of steady contraction" in lending to the private sector was halted by 2023's $50.3m credit expansion although mortgage activity remained "subdued".

National debt up as spending rises faster than revenue growth

The Central Bank revealed yesterday that the national debt grew by $206m over the last quarter.

200 hours of community service for debit card fraud

A MAN was ordered to complete 200 hours of community service yesterday after he admitted to using over $1,000 off a man’s debit card earlier this month.

‘Major progress’ on one insurance law

Regulators say “significant progress” has been made in combining the Bahamian insurance industry’s regulatory regime into one law after the sector saw gross written premiums increase by $60m in 2022.

Health premiums drop $15m on COVID travel cover end

Bahamian health insurers suffered a near-$15m year-over-year decline in group premiums last year due to the Government ending COVID-19 protection plan for visitors.

‘Headwinds’ slash J S Johnson profit 12.54%

J S Johnson’s managing director is warning that “industry headwinds” across its business have slashed profits by 12.54 percent or almost $900,000 for the year to end-September 2023.

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