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The millionaires club
TOURISM Minister Dionisio D’Aguilar tops the list of millionaire candidates who are vying for re-election with a total net worth of $37,951,803, according to financial disclosures submitted to the Parliamentary Registration Department.
Leading health insurer rebounding from 2020 COVID fallout
A BISX health insurer disclosed that the company is rebounding from the 2020 COVID-19 fallout with a near 2,000 percent net investment income increase for the first six months of this year.
Ayton and Suns squander 24-point lead in loss to Nets
DEANDRE Ayton and the Phoenix Suns nearly had a perfect ending to their six-game homestand, but squandered a 24-point second half lead in a loss to the New Jersey Nets on Tuesday night.
Doctors in $7.747m COVID testing boost
Doctors Hospital enjoyed a $7.747m revenue boost as a result of administering more than 100,000 COVID-19 tests during the ten months to end-January 2021, it has been revealed.
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.
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.
$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.
Governor: Use $200m for Dorian rebuilding
The Central Bank’s governor yesterday urged Dorian-ravaged businesses and homeowners to draw down on “at least $200m” in unused reinsurance funds to finance rebuilding, adding: “The economy will be better off.”
Colina shareholders see 77% profits cut
Colina Holdings (Bahamas) has blamed the damage inflicted by COVID-19 on the value of its investment holdings for a 76.6 percent comprehensive income drop for the nine months to end-September.
BOB targeting ‘real growth, not loan loss management’
Bank of The Bahamas yesterday said it was seeking to drive sustained profitability “from real growth as opposed to managing delinquency provisions” after enjoying a positive $14m bottom line swing.
Brewery chief: Pre-COVID revenues not back till 2023
Commonwealth Brewery’s managing director has warned shareholders not to expect the group’s revenues to fully recover from COVID-19 “before 2023” following a $38.2m drop-off last year.
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”.
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.
‘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.
AML Foods shrugs off pandemic with $7m profits swing
AML Foods has received a further $2m boost from Hurricane Dorian insurance recoveries as it posted a more than $1.6m bottom line reversal into the black for its just-ended 2021 second quarter.
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.
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.
Cocaine seized near Long Island
A JOINT operation with local police, OPBAT, the US Drug Enforcement Administration and US Coast Guard netted a large quantity of cocaine in the Long Island area yesterday.
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.
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.
