Central Bank: External reserves contracted by $113 million in November NASSAU, BAHAMAS — Total private sector areas fell by $23.8 million or three percent last month, according to the latest data from the Central Bank. The regulator, in its Monthly Economic and Financial Developments report for November, noted: “Commercial banks’ credit quality indicators improved during […]
Davis: Introduction of digital currency in Caribbean has potential to leap-frog us into the future NASSAU, BAHAMAS — The Bahamas still has “much to do” to catch up with the rest of the world to create the desired digital economy and infrastructure, according to Prime Minister Philip Brave Davis. Davis, who was addressing Crypto Isle’s […]
NASSAU, BAHAMAS — Minister of Economic Affairs Michael Halkitis said yesterday that the government plans to have its supplemental budget passed by the first week in December and come into effect the first week in January. “The plan is to have everything in place, the whole supplemental budget passed by the first week in December […]
NASSAU, BAHAMAS — Bahamas First Holdings has reported that gross premiums for the nine months ended September 30 grew by nearly eight percent to $135 million compared to $125 million in the prior year. Patrick Ward, the The BISX-listed insurer’s group president and chief executive, noted that during Q3-2021, the company saw a continuation of […]
“During the proceedings in Parliament, someone showed it to me and that was the first time I knew about it” Former WSC exec: “Snap action” of disconnections is not the “new day” many Bahamians voted for NASSAU, BAHAMAS — Works Minister Alfred Sears, QC, said yesterday that he was not made aware of the Water […]
Bell: The more people are getting vaccinated, the more people are going back to work NASSAU, BAHAMAS — Immigration and Labour Minister Keith Bell said yesterday that the government is optimistic that the number of people returning to work both in the private and government sector will continue to trend upwards. Bell told reporters ahead […]
NASSAU, BAHAMAS — Flats fishing has an annual economic impact of roughly $170 million, affecting some 8,000 Bahamians across the country, according to local research and conservationist Justin Lewis. Lewis, the Bonefish Tarpon Trust’s Bahamas Initiative manager, addressed the Andros Business Outlook yesterday. He referenced data from the Ministry of Tourism, which indicated that 56 […]
NASSAU, BAHAMAS — The Water & Sewerage Corporation’s (WSC) main supplier said yesterday that so far it has received nearly $15 million towards the corporation’s outstanding debt, which was just over $21 million at the end of its second quarter. David Sasnett, chief financial officer of the BISX-listed, Cayman-headquartered water solutions provider, said during a […]
School supplies retailers hoping for business bump as Lloyd announces school restart date NASSAU, BAHAMAS — A local retailer said yesterday his business was seeing just 35 percent of pre-COVID-19 sales, noting that uncertainty regarding how schools will reopen this fall has kept many consumers at bay. James Wallace, owner and operator of the popular […]
ELEUTHERA, BAHAMAS — Eleuthera Chamber of Commerce President Thomas Sands said yesterday he is looking forward to seeing the government’s detailed plans for the Glass Window Bridge, describing it as “essential” to the island of Eleuthera. During a presentation to the Eleuthera Business Outlook last week, Deputy Prime Minister and Minister of Works Desmond Bannister […]
NASSAU, BAHAMAS — Challenger Energy’s chief executive said the company’s confidence in The Bahamas as a reliable investment location has been reinforced after an environmentalist-driven judicial review was discontinued in court. The Supreme Court last week endorsed a consent order that effectively brought to an end a judicial review of the government’s approvals to the […]
Political opponents demand govt to reveal details on pandemic contracts NASSAU, BAHAMAS — State Minister for Finance Kwasi Thompson said yesterday the provisions of the Public Procurement Act provide for the government’s ability to publish the names of beneficial owners for recipients of government contracts. Thompson was responding to Eyewitness News inquiries after an auditor […]
“The investor community has continued to recognize The Bahamas is a best-in-class destination for business” Ministry of Finance to announce new changes that simplify the business license process even further NASSAU, BAHAMAS — The government has reassured the investor community that it has taken concrete steps to improve the procurement process and address deficiencies that […]
COI chair claims political campaign restrictions “calculated and diabolical” attempt to suppress other parties Green: Different restrictions for vaccinated vs unvaccinated “unfair, oppressive and unconstitutional” NASSAU, BAHAMAS — The Coalition of Independents (COI) is pushing back against a series of newly announced restrictions aimed at curbing a sharp rise in coronavirus infections and deaths in […]
“We are trying to be an alternative lender and help customers based on the current economic reality” CEO anticipates Bahamas economy will come back stronger based on strong demand for tourism NASSAU, BAHAMAS — Robert Pantry, the principal of Bahamian financial services firm Simplified Lending, said yesterday he was “cautious but bullish and optimistic” on […]
Business license turnaround time to be lowered; crowdfunding options introduced Thompson: This initiative will launch Bahamas ahead in World Bank ease of doing business rankings NASSAU, BAHAMAS — The government is looking at ways to further streamline the process of opening a business, according to State Finance Minister Senator Kwasi Thompson, as it expands the […]
“Aviation is more than flying a plane; we have to bring in aviation mechanics and when you look at it, that is revenue that Bahamians are missing out on” NASSAU, BAHAMAS — A local aviation industry operator yesterday stressed that this nation must maximize returns from the management of its sovereign space, noting: “We have […]
NASSAU, BAHAMAS — The Bahamas Pharmaceutical Association (BPA) has filed an injunction against the Bahamas Pharmacy Council (BPC), the minister of health and the attorney general for allegedly failing to comply with the Pharmacy Act, 2009 and fee changes. The association contends that Minister of Health Renward Wells failed to comply with the Pharmacy Act, […]
