Central Bank: Construction sector to experience a slight slowdown

NASSAU, BAHAMAS – The Central Bank is confirming that the construction sector may experience a slight slowdown as earlier surges in domestic construction have somewhat stalled and small to medium-sized foreign investment projects have kept the country’s construction sector steady. “Construction sector output during the fourth quarter continued to be supported by a number of […]

Exuma investor: We’re “busting out” of airport

NASSAU, BAHAMAS – The largest shareowner of one of Exuma’s principal properties is looking forward to a follow-through on promises of a new airport, with thousands of guests now “busting out” of the current facility. Grand Isle investor Peter Nicholson said if the island were to accommodate the visitor arrival growth of its current trajectory, […]

LPIA sees busiest day on record

NASSAU, BAHAMAS – The Lynden Pindling International Airport (LPIA) recorded its highest traffic day on record last month, with Tourism officials calling visitor arrivals to The Bahamas a “banner” start to the year. Speaking at the Internationale Tourismus-Börse (ITB) tourism trade fair in Berlin, Tourism’s Director General Joy Jibrilu revealed that while LPIA hit a record […]

Despite failed Fyre Fest, occupancy rates at Grand Isle in Exuma skyrocket

NASSAU, BAHAMAS –  The largest shareowner of Exuma’s luxurious Grand Isle property is noting one upside of the doomed Fyre Festival documentary which shed a negative light on the island of Exuma: higher occupancy rates. Initially worried that the island’s tourism product would take a hit from the popularity of the Netflix and Hulu documentaries […]

New Investment Fund Bill a new chapter in Bahamian Financial Services

2019 bill passed in HOA     NASSAU, BAHAMAS – The new Investment Funds Bill, which was passed in parliament on Wednesday, will introduce a “new chapter” in Bahamian Financial Services while attracting new opportunities to the jurisdictions and improving the ease of doing business. Deputy Prime Minister and Minister of Finance, Peter Turnquest said […]

New IDB publication highlights public sector weaknesses

NASSAU, BAHAMAS – A new Inter-American Development Bank publication has further highlighted two well-known areas of weakness for The Bahamas: the public sector’s wage bill and issues with State-Owned Enterprises (SEOs). The “Nurturing Institutions for a Resilient Caribbean” publication was released yesterday, with Deputy Prime Minister and Minister of Finance Peter Turnquest linking data from […]

Turnquest: $94.7 million in mortgage commitments

NASSAU, BAHAMAS – A surge in domestic construction to $86.7 million by Q3 2018 may not necessarily be duplicated this year as officials report a decline in construction commitments going forward. While many FDI ventures bolstered the construction sector for 2018, the completion of some of the bigger projects may mean a falloff in activity […]

Nearly $800 million in FDI projected

NASSAU, BAHAMAS – Nearly $800 million in Foreign Direct Investment is projected to bolster the country’s economy in the short to medium terms, the government revealed yesterday. In his mid-year budget statement, Deputy Prime Minister and Minister of Finance Peter Turnquest said the economy benefitted from the completion of a number of FDI projects last […]