Facebook Twitter Google+LinkedInPinterestWhatsAppNassau, 25 Feb 2015 – Commonwealth Bank, today, reported unaudited total profit of $53 million in 2014. Total assets closed to $1.47 billion at December 31, 2014. Earnings were up 7% over 2013 when the Bank reported total profit of $50 million. Total assets were up 3% over 2013. “I am pleased with the Bank’s results in 2014,” said William B. Sands Jr., Executive Chairman of Commonwealth Bank.“They confirm that our business strategy remains appropriate and that our staff remains both capable and dedicated to the plan as laid out by the Board and Executive Management.”The improvement reported in total profit for the year was despite the introduction of a new $5 million turnover based business license fee in 2014.Interest Expense declined in 2014 as the chronic excess liquidity in the system continued to depress deposit interest rates. For 2014 interest expense was $31.7 million compared to $35.5 million a year earlier. Sands noted that, “Although the bank grew its loan book by 3% in 2014 – the timing of the growth was such that it did not materially impact fiscal 2014. We expect to see the full impact of the growth in 2015 when the new loans would have earned interest for a full year.”Amid an environment of high nonperforming loans, Commonwealth Bank continued to record low levels of impairment in its portfolio when compared to the industry averages. As a result the Bank was able to reduce its loan impairment expenses by $3.4 million compared to 2013. Charged Off Loans declined by almost $6.5 million in 2014 to $28.4 million, while at the same time, Balance Sheet allowances for loan impairment increased by $1.2 million over 2013 to $55.5 million. On December 31, 2014, Commonwealth Bank’s impaired loans represented 5.8% of its total outstanding loans. The industry’s impaired loans, as reported by The Central Bank, were 16.1% of aggregate loans of all banks.The Bank’s total expenses grew by 10% in 2014 which equated to $5.9 million. Total Group taxes and license fees increased by $4.2 million over 2013. Apart from the increase in tax and government license fees, most of the remaining increase was in variable costs.Commonwealth Bank continues to report strong capital and liquidity ratios with a capital ratio of 27.9% and a liquidity ratio of 33.6% compared to the requirements of The Central Bank of 17% and 20% respectively.The Bank’s earnings per share was $0.49, return on assets was 3.3% and return on equity was 23.1%. These all compare favourably with 2013 when the Bank reported $0.46, 3.1%, and 23.0%, respectively. The Bank continued to share its success with its shareholders through uninterrupted quarterly dividend payments. Dividend payments totaled $0.30 per share in 2014 and were unchanged from 2013.Showing appreciation for the results, Sands pronounced “Commonwealth Bank remains grateful to our customers and shareholders for their continued support. I want to personally thank every member of our team of dedicated professionals who are integral to our success.”Commonwealth Bank is the largest Bahamian owned bank listed on BISX. The Bank is a market leader in service and convenience, operating eleven branches in New Providence, Abaco and Grand Bahama and employs over 530 staff.Please visit the Bank‘s website at www.combankltd.com for information on Commonwealth Bank’s dividend payment history, other financial reporting information and a full set of audited financial statements which will be published on our website within the time frame established by BISX. Facebook Twitter Google+LinkedInPinterestWhatsApp Related Items:
12 Photos 2019 GMC Sierra Denali review: So close to greatness 2019 Chevrolet Corvette Grand Sport loves to hustle Honda OdysseyThe feature-rich Honda Odyssey minivan also retains its number-two slot from last year’s list. While the 2019 model doesn’t see any changes from last, it’s still a darn good choice for families on the go with reconfigurable seats, Wi-Fi and an excellent rear-seat entertainment system. The Cabin Watch video system lets parents keep an eye on their little darlings without turning around in their seats, while Cabin Talk amplifies their voice so no yelling is required.The Odyssey is powered by a 3.5-liter V6 rated for 280 horsepower and 262 pound-feet of torque. Most trims get a nine-speed automatic but the top Touring and Elite trims now use a 10-speed automatic with stop-start technology. The Honda Odyssey is made in Lincoln, Alabama. 2019 Honda Ridgeline review: Light duty, heavy punch Honda PassportThe Honda Passport is a new (well, reborn) entry to both the Honda lineup and the American Made Index. This midsize crossover comes to the fray with great driving dynamics and plenty of tech like the standard Honda Sensing suite of active safety features. An available 8-inch touchscreen gets Apple CarPlay and Android Auto as well as a Wi-Fi hotspot.Under the hood is the stalwart 3.5-liter V6 producing 280 horsepower and 262 pound-feet of torque. However unlike the Ridgeline, the Passport sends that power through a nine-speed automatic transmission. Having said that, just like the Ridgeline, this is the only powertrain available. The Honda Passport is built in Lincoln, Alabama. Enlarge Image Ducati It’s been six years since the Volkswagen Group bought Ducati, the legendary Italian motorcycle manufacturer, for around $840 million. Those years have been some of the best of Ducati’s 92-year-long history. The brand has introduced its wildly popular Scrambler sub-brand, the development of its Multistrada line, and its new Panigale V4 is one of the most extreme production motorcycles ever made. That being said, it’s not exactly the best of times at the VW Group. It’s rumored that ze Germans could be putting Ducati up on the auction block once again, and KTM, of all companies, is considering buying it, according to an interview published recently by Speedweek.com with KTM CEO Stefan Pierer.At first blush, it seems like kind of a weird pairing. KTM is a relatively small motorcycle manufacturer that is best known for its off-road bikes. Pierer has been with KTM since the early 1990s. While his time at the helm of the Austrian company has been fruitful, his goal to have KTM be the world’s third-largest sports motorcycle maker — something he mentions in his Speedweek interview — is wildly ambitious. Buying Ducati, however, could give him a massive leg-up toward that goal.”Audi may soon have other priorities than a motorcycle plant due to the diesel affair and e-mobility. Ducati is the Ferrari of the motorcycle industry,” said Stefan Pierer, CEO of KTM, in an interview with Speedweek.com. “Of course, having such a brand in our group would be interesting. It is not a question of price, but it is about the topic: When does everyone realize in which situation he is?”KTM has dabbled in making hardcore sports motorcycles before with the V-twin-powered RC8 and currently with its single-cylinder RC390. The company has had significant success with its adventure bikes and with its naked bikes like the Super Duke R. Chevrolet ColoradoMaking its debut in the top 10 is the Chevrolet Colorado. Shown here in the tough ZR2 Bison off-road spec, the Chevy Colorado is an excellent truck and one of the two midsize pickups you can get with a diesel engine. Adding to the ZR2’s two-inch lift and front and rear locking differentials, the Bison gets beefier skid plates (trust me, that’s a good thing), steel bumpers and integrated recovery points. Heck, you can even get a snorkel.Base models get a 2.5-liter four-cylinder engine with a six-speed manual transmission, but a more popular choice is the 3.6-liter V6 gas engine with 308 horsepower and 275 pound-feet of torque, mated to an eight-speed automatic transmission. Meanwhile, the 2.8-liter diesel pumps out 186 horsepower and a delicious 369 pound-feet of twist and is mated to a six-speed automatic. The Chevy Colorado is built in Wentzville, Missouri. 2 71 Photos 2020 Kia Telluride review: Kia’s new SUV has big style and bigger value 68 Photos 2019 Acura RDX A-Spec: Sharp handling, sharper looks 2019 Jeep Cherokee can handle the rough stuff 52 Photos More From Roadshow 2020 BMW M340i review: A dash of M makes everything better 18 Photos 2018 Ducati Multistrada 1260 S looks set to conquer all Jeep CherokeeKeeping its top-of-the-list placement, the Jeep Cherokee is 2019’s most American-made car. Refreshed for 2019, the compact crossover now features more tech, better cargo space and a slightly tweaked look. It’s available in no fewer the nine trims, including the off-road specific Trailhawk and a fancy-pants Trailhawk Elite.For 2019, the Cherokee gets a new 2.0-liter, turbocharged, four-cylinder engine with 270 horsepower and 295 pound-feet of torque, though naturally aspirated I4 and V6 choices are also available. Regardless of engine, a nine-speed automatic transmission gets the power to the pavement — or dirt as the case may be. The Cherokee is made in Belvidere, Illinois. GMC CanyonIf you’re looking for a slightly fancier version of the Colorado that’s more focused on luxe than dirt, check out the GMC Canyon. The top Denali trim gets standard heated and ventilated front seats as well as a heated steering wheel. Maximum payload capability is 1,665 pounds while max towing is a fairly healthy 7,600 pounds.The Canyon is available with the same 2.5-liter four-cylinder engine, 3.6-liter V6 or 2.8-liter diesel as the Chevrolet Colorado. It’s also built in Wentzville, Missouri. Car Industry 10 Photos Honda PilotDropping down to seventh place for 2019 is the Honda Pilot. Like its two-row Passport sibling, the three-row Pilot offers parent-focused technology like Cabin Talk as well as myriad standard driver-assistance features through the Honda Sensing tech suite. Honda’s largest crossover offers up nearly 84 cubic feet of cargo space. Honda’s 3.5-liter V6 engine shows up again, making a serviceable 280 horsepower and 262 pound-feet of torque. Touring and Elite trims get a nine-speed automatic transmission while lower trims have to make do with a six-speed auto. The Honda Pilot is made in Lincoln, Alabama. 2019 Acura MDX adds new features and an A-Spec model 2019 Honda Ridgeline: The commuter’s pickup truck 2019 Chevy Colorado ZR2 Bison: An off-road animal Chevrolet CorvetteMoving up from the 10th-place slot last year is the 2019 Chevrolet Corvette. While we’ve all been ogling the new mid-engine Corvette, it’s easy to forget what a performance bargain the current-generation ‘Vette is. From the base trim to the Grand Sport to the bonkers ZR1, the Corvette is an American icon.My preference is for the Grand Sport, which strikes a perfect balance between everyday drivability and canyon-carving performance. The 6.2-liter V8 puts out 460 horsepower and 465 pound-feet of torque. You can get it with a seven-speed manual or eight-speed automatic transmission, but the kicker is the borrowed chassis and aero parts from the beefier Z06. Like I said, perfect balance. The Corvette is made in Bowling Green, Kentucky. 49 Photos Honda RidgelineAgain keeping the status quo, the Honda Ridgeline maintains third place on the American Made Index. This crossover-that-looks-like-a-truck provides a better ride than a traditional pickup and gets an awesome lockable trunk right in the floor of the bed. And it doesn’t do the truck stuff too badly, either, as it’s able to carry 1,860 pounds of payload and tow 3,500 pounds.The Ridgeline is powered by a 3.5-liter V6 good for 280 horsepower and 262 pound-feet of torque. That is channeled through a six-speed automatic transmission with available all-wheel drive. It’s built in Lincoln, Alabama. 2019 Honda Passport: A well-rounded midsize offering 69 Photos 34 Photos Comments More From Roadshow KTM Ducati Audi Lamborghini,Enlarge ImageIt’s all in a day’s work for the Jeep Cherokee, the most American-made car in 2019. Jeep With high trade tensions looming and increasing talk of tariffs, more and more consumers are looking to buy American. Cars.com has released its annual American Made Index, showcasing companies that use the most American-sourced parts and labor in their vehicles. The results may surprise you.Cars.com analyzed more than 100 US-built vehicles for five key data points: manufacturing location, parts sourcing, US employment, engine sourcing and transmission sourcing. You might think something like the Ford F-150 would top the list, but it drops from its No. 5 spot for 2018 and out of the top 10 completely. Even the first-place holder, the Jeep Cherokee, is a pretty global product. It’s a Jeep, sure, but that brand is part of Fiat Chrysler Automobiles, an Italian-owned business.Cars.com surveyed 1,000 people and found that half are concerned about automotive import tariffs, with 41% saying they are unsure if tariffs would make them more likely to buy American. Either way, we’re big fans of all the vehicles on this list. These days, buying American doesn’t necessarily mean sticking with a US-based automaker. Share your voice 2019 GMC Canyon: A fancier Colorado 81 Photos Tags Share your voice Acura MDXMoving up one slot to sixth place on the American Made Index is the non-hybrid variant of the Acura MDX. With its SH-AWD system, the MDX is one of the better handling midsize luxury crossovers, and for 2019 the company gives us the A-Spec treatment with a new front fascia and side skirts, 20-inch wheels, wider exhaust tips, unique gauges, a new steering wheel, carbon fiber trim and various Alcantara interior touches.However, both the standard and A-Spec models get a 3.5-liter V6 engine, rated for 290 horsepower and 267 pound-feet of torque going through a nine-speed automatic transmission. The Acura MDX is made in East Liberty, Ohio. 2019 Honda Pilot Elite: A smoother, tech-rich crossover SUV Acura RDXThe third-generation Acura RDX squeaks into the top ten list with larger proportions, plenty of interior space and better handling than its predecessor. Forward collision warning with collision mitigation braking, adaptive cruise control that works even in low-speed traffic, lane-keeping steering assist and road departure mitigation are all standard across the board. Like its MDX counterpart, the RDX is available with the A-Spec styling package.The RDX sports a 2.0-liter, turbocharged, four-cylinder engine. Output is stated at 273 horsepower and 280 pound-feet of torque, and it’s mated to a 10-speed automatic transmission. The new RDX is built in East Liberty, Ohio. Tags 2019 Chevrolet Colorado ZR2 Bison: A tougher off-roader Comments 2019 Honda Odyssey offers plenty of room and features for families 4 2020 Hyundai Palisade review: Posh enough to make Genesis jealous 26 Photos Motorcycles Car Industry General Motors Chevrolet Honda Jeep Acura
An author, entrepreneur and a public speaker – Karan Verma is in truly a jack of all. There is nothing that he does not want to try and that’s how after he authored his book ‘Jack and Master,’ which turned out to be a national bestseller, he established his company ‘The Big Picture’ and turned into a proficient public speaker; inspiring and motivating thousands of students pan India. Now, he is looking forward to his book being adapted into a movie. And that’s not it; he is a brand consultant to Crayons advertising too. Well, you get one life, right? In a candid interview with Shreya Das he talks about how he came up with his debut book and his upcoming projects Also Read – Add new books to your shelfEvery character in a fictional book is a figment of the author’s reality. How did you come up with Jack and master? I have been a jack all my life and did a lot of things. And to be very honest, I had a very rocking life. Growing up in Lucknow, I was a very naughty kid who wanted to do a lot of things. I just pretty much wanted to run in the direction of my dreams and didn’t mind falling down. I would just love to lace up my boots again and start running. At the same time, as a 90s kid, you were expected to be not less than an engineer or a doctor. So like a good guy, I chose engineering though I was pretty good in debates. And while I was pursuing engineering, theatre and talks kept fascinating me. I used to dabble in a lot of things. I remember I used to travel to Mumbai and write scripts for MTV. This was the reason many people referred me as a jack. And this kind of stayed with me and grew on me. Siddharth (the master) is my alter ego. I am also fascinated by people who are masters of their craft; a Bill Gates, a Sachin Tendulkar, an AR Rahman. So, if I want to sum up myself, I am a jack who aspires to be master someday. I think that should be the journey of our life; you dabble in a lot of things, you do well and finally you find out your true calling someday. Or you never find your true calling; you are good at everything and Also Read – Over 2 hours screen time daily will make your kids impulsivecontinue staying that way.So, who do you think would succeed in real life, a Jack of all crafts or a master of one?I have addressed this issue in the book. It depends upon the turf. For specialized fields somewhere you need a master. For a leadership position, perhaps a jack of all could inspire people more. I have seen jacks become amazing leaders, because there are certain domains where you need to have more qualities than being just a master of one. But then there are fields where you need a master. So, jack and master are two sides of the same coin. Some people just seek the moments in life, they have a bucket list but some people just want to touch the pinnacle of glory. Tell us a bit about your upcoming book…It is a youth related story with a huge canvas. People say that ‘Jack & Master’ has a huge canvas and it has but this one is just 10 times huge as far as the canvas is concerned. In my upcoming, I am talking about life as a totality; what life means to different people and it’s a classic. At its heart, it’s a love story but it has a lot more in store than being just a love story; what more, I would like to keep it under wraps because the book should come later this year or early next year.What message would you like to give to all the jacks, confused about their next step? I think one of the things that people say is chase dreams. One of the lessons that I have learned is that even if you are chasing your dreams, chase them with your eyes and ears open. At times you’ll get too carried away but even risks should be taken with a certain degree of calculation. So, always have some sort of a plan in mind. It’s good to be crazy while you are young but there has to be a method to the madness as well.
NEW YORK — American Express Global Business Travel (GBT) has signed an agreement to acquire KDS, a global provider of integrated travel technology. Headquartered in France, KDS has operations in the United Kingdom, Germany and the U.S.The acquisition of KDS is part of a broader investment strategy by GBT to develop an industry-leading suite of traveller-centric online and digital services, sitting on top of the company’s core technology platform for business travellers, said the company.“We are bringing together an industry-leading online solution and travel management company to create the first seamless end-to-end experience centered on the modern business traveller,” said GBT’s Chief Commercial and Technology Officer Philippe Chereque. “This will also enable us to provide GBT customers with a proprietary door-to-door online booking tool (OBT) supported by our new technology infrastructure.”KDS’ leading product is Neo. The July 2016 version combines all the functionality of the original OBT (multi-leg, group and offline booking, reporting), as well as door-to-door, single-click booking and a mobile travel app, in a unified, consumer-grade user interface. The interactive platform drives high adoption rates and provides rich content, budget information and policy alignment.More news: Windstar celebrates record-breaking bookings in JulyAmerican Express Global Business Travel will continue to work with and support other OBTs across global marketplaces, Chereque added.The KDS acquisition reflects GBT’s commitment since the joint venture two years ago to build out product and technology solutions globally. GBT has intensified its focus on digital business traveller tools, including the recent launch of a proprietary mobile app, and acquisitions including SMT to further broaden GBT’s footprint and scope. GBT plans to close the transaction in the fourth quarter of 2016. Posted by << Previous PostNext Post >> Share Tags: American Express Global Business Travel American Express GBT acquires travel tech provider KDS Travelweek Group Tuesday, August 30, 2016
India in high demand, says Contiki, after launching new 2018 Asia program Tags: Asia Pacific, Contiki << Previous PostNext Post >> Posted by TORONTO — Contiki’s 2018 Asia program keeps getting bigger and better, with the launch of a new 10-day ‘In-Depth Discoverer’ trip to India.Titled ‘Southern Spice’, the itinerary was launched in response to the high demand of the company’s widely popular 12-day ‘Eternal India’ trip, which first debuted in 2016. According to Contiki, visitor growth to India has increased year after year, especially after the introduction of the e-Tourist Visa, fuelled in part by millennial demand.‘Southern Spice’ takes clients from Chennai through Pondicherry, Kumbakonam, Mudurai, Periyar, Kumbakonam, Kerala Backwaters and Cochin over 10 culture-filled days. Highlights include an exclusive overnight on a house boat, a Martial Arts performance in Kalaripayattu, a rickshaw ride to Meenakshi Temple in Madurai, and visits to a spice plantation, tea factory, silk weavers’ homes and a bronze casting school. ME Time Optionals also offer travellers the chance to go on a Sunset Boat Cruise in Cochin, dress up in sarees (ladies) or a dhoti (men) in Kumbakonam, and partake in a local family cooking demonstration and dinner in Periyar.More news: ‘Turn around year’ for TPI brings double-digit growthContiki’s new 2018 Asia program continues to offer four unique accommodation styles including central hotels, beachside resorts and unique Special Stays such as jungle tree houses and floating raft bungalows in Khao Sok National Park. In addition, an authentic Asian travel experience is guaranteed with bullet trains, rickshaws, junk boats and tuk-tuks to travel around in, while knowledgeable Trip Managers, experienced Drivers and a network of highly trained Local Guides ensure clients are in the best possible hands.In addition to Contiki’s new trip to India, other trips that are part of the new Asia program include the refined and improved ‘China Adventure’ and the ‘Big Indochina’ itineraries.To help agents entice their clients to experience Asia, clients can save up to $580 or 10% if they book and pay in full by Nov. 30, 2017 on trips departing on or after April 1, 2018. Share Travelweek Group Wednesday, August 16, 2017
Book now, save big on GLP Worldwide’s Explorer, Norway cruises Tuesday, August 29, 2017 TORONTO — Clients who book GLP Worldwide and Hurtigruten by Sept. 30 can save up to $650 per person or $1,300 per cabin on 50 Explorer cruises to Antarctica, South America, Canada, the U.S., the Caribbean and Central America.Exclusively when booking through GLP Worldwide, clients can combine the offer with the already announced 30% Go Beyond campaign promotion. There are also early booking discounts on select Norway Coastal Voyage cruises.GLP Worldwide is the Canadian representative for Hurtigruten.“Explore not only the stunning scenery of these destinations but experience the culture and interact with the locals in these destinations,” says Alan Law, GLP Worldwide director of sales and marketing. “Your clients will thoroughly enjoy these types of Explorer and Norway cruises.”The Explorer Early Booking Offer is valid until Sept. 30 and represents a savings of $1,300 based on $650 per person with two people sharing a cabin. The travel window is for departures April 4, 2018 to April 3, 2019.More news: Flight Centre Travel Group takes full ownership of Quebec-based agencyThe offer is not valid on MS Fram cruises going to the Northwest Passage, MS Spitsbergen cruises to Spitsbergen and MS Amundsen cruises Oct. 22 – Dec. 26, 2018 that offer air credit and a single waiver.Here’s a sampling of applicable itineraries:Sailing the Andean Coast – From Chile to Costa RicaExploration of the Caribbean’s Cays, Coves and Reefs – SouthboundA Voyage Through Arctic Canada and IcelandSouthern Hemisphere Adventure to Antarctica – NorthboundCoastal Gems of America – NorthboundAdventure to Antarctica – Highlights of the Frozen ContinentIn addition to the Explorer cruises there are also substantial savings on Norway Coastal Voyage cruises. Clients can save $130 per person on a 6 or 7-day Hurtigruten Norway cruise or $390 per person on a 12-day roundtrip Hurtigruten Norway cruise. This early booking discount is valid for travel dates between April 1, 2018 and March 31, 2019.For terms and conditions, pricing and itineraries and further details on the 30% Go Beyond promotion agents are asked to contact GLP Worldwide at 1-866-760-1987, glpworldwide.com or email@example.com. Tags: Antarctica, GLP Worldwide Travelweek Group Posted by << Previous PostNext Post >>