Predatory lending prevalent in The Bahamas

Described as modern day economic slavery, lending institutions with high-interest rates prey on the working class – many of whom are government employees with the ability to get salary deductions. Eyewitness News explores the issue as more and more Bahamians find themselves sinking into consumer debt.

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“PLP to blame for blacklisting”, says Symonette

Financial Services Minister Brent Symonette said Monday that members of the former Christie administration “dragged their feet” with important deadlines imposed by the European Union (EU), which he claimed, is ultimately what led to The Bahamas being blacklisted last week. However, he asserted that the issue is “non-political” and that he is focused on getting […]

Bahamian UBER set to come on stream early Spring

Transportation is expected to become more convenient for locals, according to one emerging ride company considered the new Bahamian UBER, as it was officially announced yesterday. Bahama Ride has partnered with mobile service provider ALIV, to ensure all it future passengers have a highly comfortable experience. “We realized there was need, a void in the […]

Turnquest: Govt. still on track with finances; revenue increased by $25 million

The government has spent $30 million more than was budgeted since May for “surprise” bills left by the former Christie administration, Deputy Prime Minister and Minister of Finance, Peter Turnquest revealed  yesterday in the House of Assembly. Despite the unexpected expenses however, Turnquest said the government is still on track to bring the country’s fiscal […]

GB $5.5 billion project sparks environmental concerns

Environmental concerns over the $5.5 billion project earmarked for east Grand Bahama are beginning to mount as the government signed a Heads of Agreement with Oban Energies today to establish an oil refinery and storage facility without an environmental impact assessment in place. Both sides however, assured that the project will be environmentally sustainable and […]

Island Luck continues crackdown on inter-island money transfers

Island Luck gaming company witnessed a 90 percent decline in client withdrawals and deposits since last November when the company took an aggressive approach to crack down on inter- island money transfers. The news comes from the company’s Chief Compliance Officer, Neil Major, who told Eyewitness News yesterday that the majority of the company’s 80,000 […]

PM: Land discount for home ownership set for June

Bahamians seeking home ownership through government are expected to receive a major discount. Prime Minister, Dr. the Hon Hubert Minnis, shared details on the new initiative yesterday.  The venture was first announced by the prime minister during his national New Year’s address. The low-cost lots land initiative is expected to spur economic growth with land being made […]

PM, ministers tour Point development; hint to plans for downtown development

The Point hotel completed its first phase of the multi-billion dollar resort with plans for a boardwalk, additional restaurants and water features. Point President, Daniel Liu, spoke to the expansion. “This project will be done by 2019, the soft opening by April 2020,” Liu said. “From Bay Street to boardwalk, we want to encourage the […]