Legalize cannabis — Economic Recovery Committee suggests hybrid approach strict controls

NASSAU, BAHAMAS — The Economic Recovery Committee has recommended the government legalize the cannabis industry in The Bahamas with strict controls that would allow production, consumption, and exportation of the plant. Prime Minister Dr Hubert Minnis tabled the committee’s executive summary in Parliament on Wednesday. The committee noted there is the widespread use of marijuana […]

Economic recovery committe calls for dismantling of GBPA

Former counsel says GBPA not the “main culprit” of Grand Bahama’s economic woes NASSAU, BAHAMAS — The government’s Economic Recovery Committee has recommended the government gradually strip the Grand Bahama Port Authority (GBPA) of its power in lieu of a local authority “comprised of current GBPA Licensees, Port Group Ltd representatives, and central/local government representatives”. […]

DPM defends US$600 million bond issue

NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Finance K Peter Turnquest yesterday defended the recent US$600 million bond placement, stating that it was “pie in the sky thinking” to believe international investors would ignore the economic realities facing the country. Addressing the issue in Parliament yesterday, Turnquest noted that market perception of The […]

Bankruptcy reform “priority” for economic recovery

NASSAU, BAHAMAS — The Economic Recovery Committee (ERC) has recommended that the government reform the country’s “antiquated” bankruptcy laws, noting that this should be treated as a “priority” for economic recovery. In its executive summary released yesterday, the ERC noted that the country’s laws governing the financial affairs of an individual who has become insolvent, […]

Warwick to reopen on November 21

NASSAU, BAHAMAS — The Warwick Paradise Island has announced that it will open its doors for overnight stays on November 21. Benjamin Davis, General Manager of the resort said: “We look forward to welcoming guests back to Warwick Paradise Island – Bahamas where we continue to offer the highest level of service along with a […]

Flood prone areas: ‘We have accepted our fate’

Bannister: Climate Change behind continuous flooding NASSAU, BAHAMAS — After days of continuous rain leading to flooding in several areas on New Providence, longtime residents are relenting that while they know how to cope with the challenges, there seems to be no political will to address the issue. The usual areas prone to flooding, including […]

Lack of clarity over travel requirements/restrictions remains “biggest complaint”

NASSAU, BAHAMAS — Government must make visitor travel requirements and restrictions “crystal clear” as soon as they are promulgated, according to one out island resort operator. Molly McIntosh, general manager of the Bluff House Beach Resort and Marina, Green Turtle Cay Abaco told Eyewitness News the lack of clarity remains the “biggest complaint I’ve received”. […]

Govt. to remove National Economic Council approval for investments under $10 million threshold

NASSAU, BAHAMAS — Prime Minister Dr Hubert Minnis announced yesterday government will restructure decision making on foreign direct investment  (FDI) applications so that those under a $10 million threshold will not have to be submitted to the National Economic Council (NEC). This, he said was consistent with a recommendation from the government-appointed Economic Recovery Committee […]