Economy

PAHO has sounded alarm for humanitarian crisis in Haiti, increasing concerns for illegal migration NASSAU, BAHAMAS — Inagua Island Administrator Marlon Leary said since the return of full commercial activity on the island a sense of normalcy has returned, but residents and authorities of the southernmost island remain on “high alert” to preventing the coronavirus (COVID-19) from reaching Inagua’s shores. “Our...

NASSAU, BAHAMAS — Progressive Liberal Party (PLP) Leader Philip Brave Davis yesterday questioned the rationale behind adding more businesses to the essential services list, calling the prime minister's latest coronavirus address a "study in confusion". During a press briefing yesterday, Prime Minister Dr Hubert Minnis underscsored the country will resume its 24-hour curfew through the week, with only essential services...

NASSAU, BAHAMAS – Prime Minister Dr Hubert Minnis yesterday signaled increased airline and cruise ship protocols for entering The Bahamas and the Caribbean in the aftermath of coronavirus pandemic. Minnis’ comments come as parts of the United States move to ease restrictions on public life and seek to reopen the U.S economy. Over the weekend, several beaches in Florida reopened...

Minnis signals shift from tourism industry  WHO calls for debt relief from World Bank and IMF NASSAU, BAHAMAS – Prime Minister Dr Hubert Minnis yesterday signaled a shift in the country’s reliance on tourism, insisting that worldwide border closures has forced The Bahamas to change how it operates. During a press briefing, the prime minister announced six new confirmed cases...

Share offering begins June 3rd, says Island Luck CEO NASSAU, BAHAMAS - Sebas Bastian, founder of OWN Bahamas, revealed to hundreds of OWN Talks event attendees on Thursday night that one of his companies – Investar Securities Limited – will begin offering Bahamians, from every walk of life, the opportunity to buy into two separate mutual investment funds, beginning June...

NASSAU, BAHAMAS - Minister of Foreign Affairs, Darren Henfield, on Tuesday expressed that The Bahamas welcomes any legitimate investments from any country. “We are friends with both China and the United States of America,” Henfield said before heading to Tuesday’s Cabinet meeting. “A large platform of our economy comes from foreign direct investment and we consider foreign direct investments from...

NASSAU, BAHAMAS -- Prime Minister Dr. Hubert Minnis officially opened a branch of the Small Business Development Centre at the Edmund Moxey Youth and Community Centre, specifically for residents in the area to access funding for economic empowerment. He deemed opening the branch as part of his government’s ambitious and broader Over-the-Hill Revitalization Programme. Also, the SBDC is an intrinsic...

NASSAU, BAHAMAS – Donations continue to pour in to fund the transformation and rejuvenation of the historic Over-the-Hill Community, aimed at enhancing the lives of residents through cultural upliftment and economic empowerment. During a press conference at the office of the prime minister on Wednesday, Prime Minister Dr. Hubert Minnis acknowledged the receipt of $500,000 in separate presentations for the...

NASSAU, BAHAMAS -  Lloyd Barton, the head of global trade at Oxford Economics, on Tuesday quelled the fears of those who believe that the Bahamian dollar would not remain on par with the United States dollar if the country accedes to the World Trade Organization (WTO). Yesterday, Barton told Eyewitness News Online that the nation’s parity will hold. “The outcome...

NASSAU, BAHAMAS – The Bahamas Ministry of Tourism & Aviation presented its new creative campaign, featuring Bahamian-American rock legend Lenny Kravitz, to Canadian media and travel industry partners during a local campaign launch event on May 2 at the Bisha Hotel. Set to the lyrics of Kravitz’s hit song, Fly Away, the television commercialand supporting marketing campaign capture his deep...

NASSAU, BAHAMAS - Five environmental groups have recently submitted a letter to the top sustainability officer of the Walt Disney Company, which raises questions about the adequacy of the environmental impact assessment (EIA) now underway for Disney Cruise Line’s proposed Lighthouse Point project in Bannerman Town, South Eleuthera. The directors of BREEF, EARTHCARE, reEarth, Save The Bays and Waterkeepers, said...

NASSAU, BAHAMAS - While many have expressed concern about The Bahamas joining the World Trade Organization (WTO), president of The Bahamas Chamber of Commerce, Jeffrey Beckles, believes that if more focus is placed on growing the economy, joining the WTO will become less of an issue. As it now stands, Beckles said access to capital is an inhibitor and there...

This month marks Baha Mar’s second anniversary since opening its doors on April 21, 2017. Over the last two years, Baha Mar has celebrated grand successes and accomplishments, having introduced three global hotel brands to Nassau, debuted new dining and entertainment concepts, created extensive opportunities for associates, increased its influence within the arts and cultural scenes and firmly established the...

NASSAU, Bahamas - Deputy Prime Minister and Minister of Finance the Hon. Peter Turnquest addressed the Small Business Development Centre's (SBDC) Access Accelerator Southern New Providence Town Hall Meeting at Bahamas Faith Ministries Myles Munroe Diplomat Centre, April 18, 2019.  The town hall meeting attracted individuals with business ideas, who have yet to start a business, as well as persons...

NASSAU, BAHAMAS - President of the Eleuthera Chamber of Commerce Thomas Sands said yesterday that while there is a degree of optimism among the business community on the island after the government signed a heads of agreement with Disney Cruise Line to develop Lighthouse Point, South Eleuthera, some businesses owners are still not clear on the economic benefit to them. “There is...

NASSAU, BAHAMAS - President of the Eleuthera Chamber of Commerce Thomas Sands said yesterday that while there is a degree of optimism among the business community on the island after the government signed a heads of agreement with Disney Cruise Line to develop Lighthouse Point, South Eleuthera, some businesses owners are still not clear on the economic benefit to them. “There is...

NASSAU, BAHAMAS - Former state minister for Finance, Michael Halkitis, declared yesterday that if re-elected, the Progressive Liberal Party (PLP) will decrease Value Added Tax (VAT), which now stands at 12 percent. While unable to give a specific figure of how much the rate would be lowered, Halkitis said the current tax regime is too high and should be reviewed....

Report credits government’s macroeconomic policies and programs NASSAU, BAHAMAS - The IMF said The Bahamas delivered “strong economic performance” last year, supported by what it said was strong macroeconomic policies and programs on fiscal reforms. It noted that with downside risks prevailing, maintaining the positive momentum realized requires broad-based reforms to strengthen institutions, improve competitiveness and external accounts, and rein...