The Bahamas suffered a more than $400m foreign currency "shortfall" in 2020 that had to be covered by the Government's overseas borrowing activities, the Central Bank's governor revealed yesterday.
Bahamas Power & Light's (BPL) chairman yesterday pledged that it will be half-way towards its renewable energy targets by end-2025 as he hailed a 40 percent-plus drop in electricity outages.
A major Paradise Island resort will offer workers voluntary separation packages following this Sunday's closure that will put at least 85 percent of staff back on temporary furlough.
The Central Bank's governor yesterday pledged to deliver "greater transparency" on commercial bank fees as the country's first credit bureau prepares to start issuing reports by the 2021 second quarter.
Bahamas Petroleum Company (BPC) yesterday warned against "making mountains out of molehills" after it was revealed the Government had refused to accept its payment of outstanding licence fees.
This year has already gotten off to a rocky start. Most economists have given 2021 slow growth potential at best. With recessions looming, a raging pandemic still lurking and new strains mutating every day, a slow vaccination process and thousands of businesses fighting for survival, we all seem to be in for a long ride.
A high-end boutique resort's founder yesterday unveiled the February launch of a seaplane service that aims to further unlock Family Island tourism's multi-million dollar potential.
The Bahamas could slash its annual food import bill by $200m through focusing on the production of 77 organic items, a Cabinet minister said yesterday, adding: "We have another stab at this."
The Prime Minister yesterday pledged that the Government will “accelerate” implementation of the long-promised sovereign wealth fund as part of efforts to kickstart $2bn in infrastructure upgrades.
A Bahamas-based contractor yesterday said building materials and concrete suppliers had informed him they are enjoying “record years" despite the COVID-19 pandemic's devastation.
The Prime Minister yesterday said the Small Business Development Centre (SBDC) has just $1m of COVID-19 relief funding that remains to be distributed to successful applicants.
A top tourism official yesterday said crisis management will be a permanent part of the Ministry of Tourism’s strategy moving forward due to the fall-out from COVID-19.
The Bahamas is pushing "to be at the front of the queue" should the US introduce exemptions from its new COVID-19 testing policy that threatens to be "a significant deterrent" to tourism.
A Cabinet minister has voiced optimism that Bahamas Power & Light's (BPL) initials will no longer be "a bad word" as it readies to break ground on its latest power plant once a $535m bond is placed.
A Bahamas Petroleum Company (BPC) director yesterday blasted "the frightening lengths" that oil exploration opponents will go to demean its project, as he branded their resistance "futile".