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Governor adjusts 2022 GDP growth to 6-8%
The Central Bank’s governor yesterday adjusted 2022 economic growth projections to 6-8 percent, with The Bahamas not expected to “fully erase” COVID’s impact before 2023 “at the earliest”.
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RBC OPENS NEW OFFICE AT ALBANY
Royal Bank of Canada (RBC) has moved closer to its high net worth clients by opening an office at Albany to serve such customers.
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‘Nothing to fear for compliant licensees’
Bahamas-based securities dealers that meet existing requirements will all meet the Securities Commission’s enhanced capital adequacy rules, regulators revealed yesterday.
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Kalik maker’s loss doubles as revenues decline 15%
Commonwealth Brewery yesterday blamed a 15 percent year-over-year revenue decline for its 2021 first quarter loss more than doubling in comparison to 2020 figures.
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First Annual Potcake Golf Tournament ‘huge success’
PEDIGREES may have their Westminster Kennel Club show, but it was the Bahamian Potcake – that special breed of dog with the narrow head and a keen sense of how to cross the street on its own terms – that stole the show during the 1st Annual Potcake Golf Tournament.
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Kalik maker sees profitability return
Commonwealth Brewery produced a more-than $7.32m bottom line reversal to return to profitability in the 2021 second quarter, with its revival aided by relaxed COVID restrictions and a more open economy.
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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.
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Deandre Ayton clears COVID-19 protocols
DEANDRE Ayton recently cleared COVID-19 protocols but while fans are still waiting for his return to the court, the Phoenix Suns centre appeared on the leaderboard for a spot in the NBA All-Star game.
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Air arrivals now 76% of pre-COVID figures
Air arrivals to The Bahamas in July rebounded to over three-quarters of their pre-COVID levels, the Central Bank revealed yesterday, while the drop-off in vacation rental demand eased in August.
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Fidelity: ‘We’ll recapture $10m COVID provisions’
A BISX-listed bank yesterday said it ultimately expects to recover two-thirds of last year’s $15m loan loss provision increase as it bids to shrug-off COVID-19 by more than doubling profits in 2021.
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Ayton posts double double in loss to Nets
DEANDRE Ayton delivered another efficient performance for the Phoenix Suns but they fell short of sweeping the top three teams in the Eastern Conference on their recent road trip.
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Hurricane VAT holiday to have ‘net zero’ effect
An ex-Bahamian Contractors Association (BCA) president yesterday said building material price hikes mean the government’s hurricane readiness VAT “holiday” and other tax breaks will just have a “net zero” effect.
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Flamingos Women’s Golf Club 242 hosts its inaugural 18 hole scramble golf tournament at Baha Mar’s Royal Blue Golf Course
THE development of women’s golf is making headway led by the Flamingos Women’s Golf Club 242.
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BOB: ‘Break even excellent’ for 2021
Bank of The Bahamas’ top executive says it will “be excellent” if its closes its 2021 financial year in a “break even” position after incurring $20m in loan loss provisions over the past two years.
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Insurer: ‘No full blown rate increases’ in 2021
Bahamas First’s top executive yesterday said the general insurer has no plans for “a large, full blown rate increase across the board” in 2021 after more than a year of post-Dorian hikes.
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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.
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Cavalier collapse took down affiliate
Cavalier Construction’s insolvency took down its equipment supplier affiliate even though the latter had generated a net profit in each of the previous four years, its liquidators have revealed.
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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.
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Fidelity ‘well on way’ to beat $15m profit target
A BISX-listed bank’s top executive says it is “well on its way” to exceeding its $15m full-year profit target for 2021 if first quarter “trends hold” over the remaining seven-and-a-half months.
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Steps towards a greener future
ActivTrades
STILL unknown to most, Carbon Allowances will soon start catching headlines, gaining importance as an increasing number of countries adopt zero net carbon targets, leaving polluting businesses’ under pressure to either drastically reduce emissions or offset them through such credits, in order to avoid heavy fines or outright closing-down by authorities.
