Local Business


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Govt seeking debt payment delay - and $250m IMF loan

The Government is seeking "breathing room" by deferring debt repayments coming due, it can be revealed, as it last night confirmed it has applied for a $252m "emergency" International Monetary Fund (IMF) loan.

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Crisis takes toll in jobs at Grand Bahama shipyard

The Grand Bahama Shipyard has terminated 27 workers, including several long-serving managerial staff, due to a further slump in business caused by the COVID-19 pandemic.

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Govt agencies' IT 'drag' in COVID-19

The Bahamian economy “must come out of COVID-19 with a greater degree of efficiency than we went into this” through the full-fledged embrace of technology, a former attorney general urged yesterday. John Delaney QC, now-principal at the Delaney Part

Realtors 'can't wait to return full-time'

Bahamian realtors yesterday hailed the prime minister’s decision to allow the sector’s morning re-opening, but said: “We can’t wait to get back to work full-time.” Peter Dupuch, founder and president of ERA Dupuch Real Estate, told Tribune Business

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Port suffers 40% May volume fall

Nassau’s main commercial shipping port yesterday predicted it will suffer a “flat” 2020 full year after container import volumes for May to-date dropped by around 40 percent compared to the prior year.Dion Bethell, Arawak Port Development Company’s (

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'Storm in teacup' on COVID repatriation

The aviation operator that returned seven persons to The Bahamas before they had been tested for COVID-19 yesterday described it as “a storm in a tea cup”, and added: “We have to get beyond the fear-mongering.” Paul Aranha, president of Trans-Island

Cable Bahamas 'evolves' Eleuthera product offering

Cable Bahamas was yesterday said to be increasing internet coverage and “evolving” its services to Eleuthera through products such as managed Wi-FI access. Dominic Petty, the BISX-listed communications provider’s northern Bahamas director, told the

Eleuthera needs more beds, says hotel boss

An Eleuthera-based resort manager yesterday argued that the island needs more hotel rooms to fully exploit its tourism industry potential. Jennifer Hadland, the French Leave Resort’s general manager, told the Eleuthera Business Outlook conference: “

Govt cannot solve covid-19 alone

A member of the Fiscal Responsibility Committee (FRC) watchdog yesterday warned that The Bahamas cannot solely rely on the government to carry the country through the COVID-19 economic crisis.Gowon Bowe, also a former Bahamas Chamber of Commerce and

COVID-19's big economic rebuild - 2020 and beyond

In his final article, Hubert Edwards details the questions policymakers must ask - and solve - to revive the Bahamian economy.

BISX adds fund listing amid COVID pandemic

The Bahamas International Securities Exchange (BISX) yesterday confirmed that the W Global Diversified Fund is the latest to join its roster of investment fund listings. Incorporated as a Bahamian International Business Company (IBC), and licensed u

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FOCOL scouting for capital raise

BISX-listed FOCOL Holdings is on a capital markets “reconnaissance” mission to determine its best finance-raising options as it “very aggressively” seeks to position itself for growth post-COVID-19. Sir Franklyn Wilson, the company’s chairman, told

Retailers blast NIB benefit non-payment

The Bahamas Federation of Retailers (BFR) co-president yesterday charged that the National Insurance Board (NIB) is not paying unemployment benefits to all approved applications. Tara Morley told Tribune Business : “Almost none of us have received f

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Retailers: 'Curb side can't cover AC costs'

Several Bahamian retailers were yesterday said to be on the verge of bankruptcy due to the COVID-19 lockdown, with some saying: “Curb side sales can’t even cover the cost of turning the AC on.”Tara Morley, the Bahamas Federation of Retailers (BFR) co

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BPL-Shell deal has issues to resolve

A Cabinet minister last night revealed "there are a number of legal issues to be cleared up" before Shell North America's multi-fuel power plant deal with Bahamas Power & Light (BPL) can proceed.