BusinessJanuary 31, 2023January 31, 2023 at 4:57 am Natario McKenzie

Business

NOT OVER YET: Central Bank warns inflation increase still a possibility

NASSAU, BAHAMAS — The Central Bank Governor said yesterday that consumers could see further increases in inflation before it starts to taper off, according to Central Bank Governor John Rolle. “It’s difficult to say yet whether inflation in The Bahamas has peaked yet,” he said at yesterday’s quarterly press briefing. “What people would observe is […]

NASSAU, BAHAMAS — The Central Bank Governor said yesterday that consumers could see further increases in inflation before it starts... read more »

January 31, 2023January 31, 2023 at 4:57 am | Natario McKenzie

BusinessJanuary 31, 2023January 31, 2023 at 4:57 am Natario McKenzie

Business

Central Bank forecasts up to 6% economic growth for 2023

NASSAU, BAHAMAS — The Bahamas can reasonably expect to see anywhere from four to six percent economic growth this year, according to Central bank Governor John Rolle yesterday. At the regulator’s quarterly press briefing, Rolle noted that the Bahamian economy grew between seven and nine percent last year in large part to rebounded tourism inflows.  […]

NASSAU, BAHAMAS — The Bahamas can reasonably expect to see anywhere from four to six percent economic growth this year,... read more »

January 31, 2023January 31, 2023 at 4:57 am | Natario McKenzie

BusinessJanuary 31, 2023January 31, 2023 at 4:46 am Natario McKenzie

Business

FNM to Gov’t: No new taxes unless you cut spending

NASSAU, BAHAMAS — After Health and Wellness Minister Michael Darville recently revealed that government is preparing legislation that will impose a tax for sugar and excess salt, the Opposition said yesterday that it rejects any discussion on any additional tax measures being contemplated by the Davis administration. “First, who are we to believe, didn’t the […]

NASSAU, BAHAMAS — After Health and Wellness Minister Michael Darville recently revealed that government is preparing legislation that will impose... read more »

January 31, 2023January 31, 2023 at 4:46 am | Natario McKenzie

BusinessJanuary 30, 2023January 30, 2023 at 4:00 am Natario McKenzie

Business

SATURATION PATROLS: Police Commissioner outlines “zero tolerance” approach as murders up by eight percent in 2022

NASSAU, BAHAMAS — Murders in the country increased by eight percent last year to 128, with 34 persons being killed while out on bail. Police Commission Clayton Fernander revealed updated crime statistics for 2022 during a press conference on Friday. He committed the organization to a “zero tolerance” approach to both minor and major crimes […]

NASSAU, BAHAMAS — Murders in the country increased by eight percent last year to 128, with 34 persons being killed... read more »

January 30, 2023January 30, 2023 at 4:00 am | Natario McKenzie

BusinessJanuary 30, 2023January 30, 2023 at 3:52 am Natario McKenzie

Business

Izmirlian pushing for trial date in “massive fraud” suit against CCA

NASSAU, BAHAMAS — Attorneys for Sarkis Izmirlian are now seeking a trial date “as soon as possible” for the former Baha Mar developer’s fraud case against the mega resort’s Chinese contractor.  In a January 27th letter to New York Supreme Court Judge Andrew Borrok, attorneys for Izmirlian’s BML Properties vehicle requested that the judge set a […]

NASSAU, BAHAMAS — Attorneys for Sarkis Izmirlian are now seeking a trial date “as soon as possible” for the former... read more »

January 30, 2023January 30, 2023 at 3:52 am | Natario McKenzie

BusinessJanuary 30, 2023January 30, 2023 at 3:50 am Natario McKenzie

Business

Government and insurers in dispute over medical costs rise fears

NASSAU, BAHAMAS — A dispute has erupted between the government and the insurance industry over concerns that healthcare costs could see further increases due to a new VAT treatment set to take effect in April. The Ministry of Finance (MOF) in a statement last night again asserted that the practice of insurers claiming VAT paid […]

NASSAU, BAHAMAS — A dispute has erupted between the government and the insurance industry over concerns that healthcare costs could... read more »

January 30, 2023January 30, 2023 at 3:50 am | Natario McKenzie

BusinessJanuary 27, 2023January 27, 2023 at 3:58 am Natario McKenzie

Business

Local bank, hotels, law firms, government agencies among thousands of FTX creditors

NASSAU, BAHAMAS — Some 100 Bahamian companies including a local bank, two Bahamian law firms, and several security firms are listed among the myriad of creditors wrapped up in the collapse of crypto exchange giant FTX, court documents filed in a US Bankruptcy court have revealed. The 115-page document outlining the list of creditors was filed […]

NASSAU, BAHAMAS — Some 100 Bahamian companies including a local bank, two Bahamian law firms, and several security firms are listed... read more »

January 27, 2023January 27, 2023 at 3:58 am | Natario McKenzie

BusinessJanuary 27, 2023January 27, 2023 at 3:53 am Natario McKenzie 1

Business

WHAT’S THE POINT?: AG calls into question purpose and fairness of blacklisting as EU nations get free pass

NASSAU, BAHAMAS – Attorney General Ryan Pinder yesterday called into question the purpose of the European Union’s “blacklists”, suggesting that they have lacked objectivity and fairness and have at times devastated the economies of small developing states in this region. Pinder made the comments at the Central Bank’s 4th AML Research Conference at the  Margaritaville […]

NASSAU, BAHAMAS – Attorney General Ryan Pinder yesterday called into question the purpose of the European Union’s “blacklists”, suggesting that... read more »

January 27, 2023January 27, 2023 at 3:53 am | Natario McKenzie | 1

BusinessJanuary 27, 2023January 27, 2023 at 3:47 am Natario McKenzie 1

Business

Over 600 turn up for IHOP job fair

NASSAU, BAHAMAS — Over 600 job hopefuls lined up as early as 5am this past Saturday to apply to fill one of 200 job vacancies at the country’s first IHOP restaurant, set to open before the end of February.  “We have second interviews beginning this week and a lot of those persons are expected to […]

NASSAU, BAHAMAS — Over 600 job hopefuls lined up as early as 5am this past Saturday to apply to fill... read more »

January 27, 2023January 27, 2023 at 3:47 am | Natario McKenzie | 1

BusinessJanuary 26, 2023January 26, 2023 at 3:54 am Natario McKenzie

Business

FOLLOW THE LAW: Opposition slams gov’t over failure to publish Fiscal Strategy Report

NASSAU, BAHAMAS — The Opposition is once again slamming the Davis administration for what it describes as “contempt for the rule of law and the Bahamian people” by failing to publish the Fiscal Strategy Report. Opposition leader Michael Pintard in a statement yesterday said: “The Davis Administration continues to display its contempt for the rule […]

NASSAU, BAHAMAS — The Opposition is once again slamming the Davis administration for what it describes as “contempt for the... read more »

January 26, 2023January 26, 2023 at 3:54 am | Natario McKenzie

BusinessJanuary 26, 2023January 26, 2023 at 3:49 am Natario McKenzie

Business

ArawakX urges greater emphasis on FPI to supplement foreign direct investment

NASSAU, BAHAMAS — ArawakX executives say that more emphasis needs to be placed on foreign portfolio investment (FPI) which allows foreigners to invest in local companies. ArawakX executives say this could supplement foreign direct investment (FDI) and directly add to this nation’s foreign reserves.  With the change in the investment landscape in the United States […]

NASSAU, BAHAMAS — ArawakX executives say that more emphasis needs to be placed on foreign portfolio investment (FPI) which allows... read more »

January 26, 2023January 26, 2023 at 3:49 am | Natario McKenzie

BusinessJanuary 25, 2023January 25, 2023 at 3:52 am Natario McKenzie 1

Business

Entrepreneur demands answers over status of RCL’s Paradise Island project

NASSAU, BAHAMAS — A Bahamian entrepreneur yesterday urged Royal Caribbean to publicly indicate whether they have scaled back on their plans for a multi-billion beach club project on Paradise Island. Toby Smith, principal of Paradise Island Lighthouse & Beach Club company, expressed optimism over a positive resolution to his long-running battle regarding his Crown land […]

NASSAU, BAHAMAS — A Bahamian entrepreneur yesterday urged Royal Caribbean to publicly indicate whether they have scaled back on their... read more »

January 25, 2023January 25, 2023 at 3:52 am | Natario McKenzie | 1

BusinessJanuary 25, 2023January 25, 2023 at 3:43 am Natario McKenzie

Business

Former minister calls for aggressive action on immigration issue

NASSAU, BAHAMAS —A former Immigration minister yesterday called for aggressive action to deal with the country’s long-standing immigration issues that he contends have gotten progressively worse. Branville McCartney, a former State Minister for Immigration and former Democratic National Alliance (DNA) leader said: “This is an issue that has been around a long time but it […]

NASSAU, BAHAMAS —A former Immigration minister yesterday called for aggressive action to deal with the country’s long-standing immigration issues that... read more »

January 25, 2023January 25, 2023 at 3:43 am | Natario McKenzie

BusinessJanuary 24, 2023January 24, 2023 at 3:55 am Natario McKenzie

Business

Court of Appeal finds that judge wrong to threaten insurance agent over legal costs award

NASSAU, BAHAMAS — The Court of Appeal has determined that a Supreme Court judge erred when she informed an insurance agent that her bill for her legal costs against her former employer was too high and that she could get less upon taxation by the court if she did not accept the judge’s $60,000 award. […]

NASSAU, BAHAMAS — The Court of Appeal has determined that a Supreme Court judge erred when she informed an insurance... read more »

January 24, 2023January 24, 2023 at 3:55 am | Natario McKenzie

BusinessJanuary 24, 2023January 24, 2023 at 3:53 am Natario McKenzie

Business

Ministry of Agriculture, Marine Resources and Family Island Affairs to create National Food Policy

NASSAU, BAHAMAS — The Ministry of Agriculture, Marine Resources and Family Island Affairs will seek to create a National Food Policy this year that will drive food security in The Bahamas. Minister of Agriculture, Marine Resources, and Family Island Affairs Hon. Clay Sweeting said that he is excited about this new initiative. “This agricultural policy […]

NASSAU, BAHAMAS — The Ministry of Agriculture, Marine Resources and Family Island Affairs will seek to create a National Food... read more »

January 24, 2023January 24, 2023 at 3:53 am | Natario McKenzie

BusinessJanuary 23, 2023January 23, 2023 at 3:52 am Natario McKenzie

Business

Insurance Association warns of “sharp increase” in property insurance rates

NASSAU, BAHAMAS — The Bahamas Insurance Association (BIA) is warning of a sharp increase in property insurance rates this year. The BIA in a statement noted that increased losses and the potential of increased catastrophe losses in the future have resulted in many reinsurers who provide protection to insurance companies withdrawing from the region, therefore, […]

NASSAU, BAHAMAS — The Bahamas Insurance Association (BIA) is warning of a sharp increase in property insurance rates this year.... read more »

January 23, 2023January 23, 2023 at 3:52 am | Natario McKenzie

BusinessJanuary 23, 2023January 23, 2023 at 3:41 am Natario McKenzie

Business

Duncombe appointed Tourism Director General

NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Tourism, Investments, and Aviation Chester Cooper has announced the appointment of Latia Duncombe to the substantive post of Tourism Director General.  Cooper said: “During the past year, Mrs. Duncombe has brought energetic leadership to our senior executive management team at the Ministry of Tourism, Investments & […]

NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Tourism, Investments, and Aviation Chester Cooper has announced the appointment of... read more »

January 23, 2023January 23, 2023 at 3:41 am | Natario McKenzie

BusinessJanuary 20, 2023January 20, 2023 at 3:58 am Natario McKenzie

Business

PM: Economy, crime and education key areas of focus over next 12 months

NASSAU, BAHAMAS — Prime Minister Philip Davis KC yesterday said that his administration plans to focus on three key areas over the next 12 months; namely the economy, education, and crime. Davis made the comments while delivering opening remarks at The Bahamas Business Outlook conference yesterday. “We remain fully committed to the long-term priorities we […]

NASSAU, BAHAMAS — Prime Minister Philip Davis KC yesterday said that his administration plans to focus on three key areas... read more »

January 20, 2023January 20, 2023 at 3:58 am | Natario McKenzie

BusinessJanuary 20, 2023January 20, 2023 at 3:56 am Natario McKenzie

Business

Gov’t seeking to discuss lowering cost of drugs for non-communicable diseases

NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis said yesterday that government intends to enter into discussions with The Bahamas Pharmaceutical Association to ensure that the cost of drugs for non-communicable diseases remains affordable for Bahamians. Halkitis told Eyewitness News that with the three-month lower-margin price control regime for pharmaceutical retailers and wholesalers coming to […]

NASSAU, BAHAMAS — Economic Affairs Minister Michael Halkitis said yesterday that government intends to enter into discussions with The Bahamas... read more »

January 20, 2023January 20, 2023 at 3:56 am | Natario McKenzie

BusinessJanuary 20, 2023January 20, 2023 at 3:54 am Natario McKenzie

Business

Scotiabank Bahamas eying fintech solution for the family islands says managing director

NASSAU, BAHAMAS — Scotiabank Bahamas’ top executive yesterday revealed that the commercial bank is hoping to this year pilot a fintech banking solution for the Family Islands. Roger Archer, Scotiabank Bahamas’ managing director and head of the Clearing Banks Association, noted however that the regulatory environment currently does not support it. While addressing the Business Outlook […]

NASSAU, BAHAMAS — Scotiabank Bahamas’ top executive yesterday revealed that the commercial bank is hoping to this year pilot a... read more »

January 20, 2023January 20, 2023 at 3:54 am | Natario McKenzie