WASTING POTENTIAL: Disgruntled businessman says poor productivity is Bahamas’ “biggest plague”

“We have too many people in this country getting paid for nothing” NASSAU, BAHAMAS — Insufficient productivity is the primary problem plaguing businesses and the wider Bahamian economy, according to one local businessman who asserted that far too often, productive businesses are being “punished” with more taxes. Ethric Bowe, AFS Insurance executive chairman, in an […]

Bahamas High Commissioner to Canada officially assumes post

NASSAU, BAHAMAS — Former Cabinet minister Kenneth Russell has officially assumed his post as High Commissioner of the Commonwealth of The Bahamas to Canada, confirmed the Foreign Affairs Minister Darren Henfield yesterday. The former commissioner, Alvin Smith, returned to The Bahamas last year after completing his tour of duty on November 7, 2020. Foreign service officer Chanelle […]

Tourism expected to take sharp fall in Jan.

The Cove reopens on February 11 NASSAU, BAHAMAS — A “sharp fall” in tourism is expected this month as the world continues to grapple with the global coronavirus pandemic, said Minister of Tourism Dionisio D’Aguilar yesterday. D’Aguilar was responding to questions from the media regarding Atlantis’ announcement that some of its employees will be furloughed […]

PM renews call for WHO assistance

Country faces health challenges and “dire economic situation” NASSAU, BAHAMAS — Addressing the 73rd session of the World Health Assembly today, Prime Minister Dr Hubert Minnis renewed calls for assistance as The Bahamas faces two “seismic events” that threaten public health and the country’s economy. The prime minister also repeated his call for the international […]

PM foreshadows generational changes to economy

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 […]

DPM: All relief contributions will be accounted for

Caribbean Catastrophe Risk Insurance Facility worth it, says Turnquest NASSAU, BAHAMAS — All contributions received by the Bahamian government to aid Hurricane Dorian relief efforts will be accounted for, Deputy Prime Minister and Minister of Finance K Peter Turnquest said. Speaking outside of the Churchill Building, Turnquest said, “We are pleased with the level of […]

Wells promises jet-ski operators that more police will patrol beaches

NASSAU, BAHAMAS – Minister of Transport Renward Wells promised jet-ski operators at a town meeting on Monday night that police officers will increase patrols on New Providence beaches to ensure that operators and tourists are safe. The move comes on the heels of a United States travel advisory that was issued back in February 2019, […]

Central Bank: Bahamas economy sustained “upward trajectory”

NASSAU, BAHAMAS – The Bahamas’ economy continued to experience “upward trajectory” in February as an increase in long-stay visitors underpinned by improvements in the tourism sector, and foreign-led investments projects shored up activity in construction, according to data from The Central Bank of The Bahamas. The latest Central Bank Monthly Economic and Financial Developments (MEFD) […]

Maura: Vendors should embrace port redevelopment project

NASSAU, BAHAMAS – Following the government’s announcement that Global Ports Holding was chosen as the preferred bidder for the redevelopment of the Nassau Cruise Port, Chief Executive Officer of Arawak Port Development (APD), Michael Maura expressed on Monday that vendors in the Prince George Wharf area should be happy about the redevelopment project. “I would […]

Majority compliance in FATF re-rating

AG: Major step forward for financial services sector NASSAU, BAHAMAS – The Financial Action Task Force (FATF) yesterday re-evaluated The Bahamas’ compliance with its anti-money laundering and counter-terrorist financing requirements and found the country compliant with the majority of its recommendations. The re-evaluation and increased compliance ratings are expected to stave off any sanctions from […]