NASSAU, BAHAMAS- The Insurance Commission of The Bahamas said it expects “clarification” from the government regarding the recent emergency powers order to suspend health, life and medical insurance payments. The local insurance industry regulator encouraged policy holders who are financially able to continue to pay their policies in a notice posted on its website. “The […]

NASSAU, BAHAMAS — The Bahamian insurance industry expressed confidence over a quick and positive resolution to its concerns regarding the recent suspension of health, medical and life insurance policy payments under the COVID-19 Emergency Powers order. Sandy Morley, the Bahamas Insurance Association’s (BIA) deputy chairman told Eyewitness News that industry stakeholders had discussions on the […]

616 micro, small and medium sized businesses (MSMEs) have registered NASSAU, BAHAMAS — Nearly $15 million in financial assistance has already been formally requested though the $20 million Small Business Continuity Loan Program, according to Deputy Prime Minister and Minister of Finance K Peter Turnquest. The program is being offered through the Small Business Development […]

NASSAU, BAHAMAS — Exuma and Ragged Island MP Chester Cooper yesterday said the government’s social safety net initiatives “is not enough” to mitigate the “economic calamity” potentially facing the country. Cooper suggested that government should identify borrowing facilities in the area of $1 billion to $2 billion in this low-interest environment in order to “shore up the economy”. […]

NASSAU, BAHAMAS — The Bahamas Chamber of Commerce and Employer’s Confederation (BCCEC) yesterday said it was ‘encouraged’ by the additional measures to help businesses mitigate the impact of the COVID-19 pandemic. However, BCCEC Chairman Khrystle Rutherford-Ferguson noted there are some businesses that are unable to benefit in a statement. “The BCCEC is further encouraged by […]

NASSAU, BAHAMAS — A Bahamian natural resources lobby group believes fallout from the COVID-19 pandemic has highlighted the need for economic diversification, particularly to harness this nation’s natural resources for greater economic sustainability. Larry Bowleg, president of the Bahamas Natural Resources Foundation (BNRF) said: “Fundamentally we have always had an economy that was never really […]

NASSAU, BAHAMAS — The British Colonial Hilton has decided to temporarily lay-off its staff for eight weeks as the COVID-19 fall-out in the hotel and tourism sector continues to affect impact workers in the country’s number one industry. Employees were informed in a letter yesterday by Christal Grant, the hotel’s Human Resources director. “Due to […]

NASSAU, BAHAMAS — Grand Bahama’s overnight hotel tourism segment has gone from “10 miles per hour to a screeching halt” due to the COVID-19 pandemic, according to one industry stakeholder. Magnus Alnebeck, Pelican Bay’s general manager told Eyewitness News the fallout represented an “enormous setback” to the island’s post-Dorian recovery. “It is obviously an enormous […]