Bahamas downgraded by Moody's
The scale of the economic and fiscal challenges facing the new Philip Davis-led administration were laid bare Friday, after Moody’s further downgraded the Bahamas’ sovereign creditworthiness.
$52m Bahamas boost from single cruise line
A 156 percent increase in Nassau calls by just one cruise line has the potential to generate a $52m-plus boost for the Bahamian economy in 2022, Nassau Cruise Port’s top executive revealed yesterday
Bahamian insurers under rating review
A rating agency’s decision to place two Bahamian insurance companies under review due to a $90.5m acquisition by its parent group was yesterday said to be routine and of no concern.
Stronger shipping waste regulations ‘ready to go’
The outgoing environment minister says regulations to strengthen ship waste disposal procedures are “ready to go” as the Government awaits a report on the recent invasive beetle controversy.
Freeport faces ‘disaster’ if 2016 Act not repealed
Freeport’s 2016 investment legislation is “an absolute disaster” that must be repealed if small and medium-sized businesses are to invest in the city, a prominent attorney warned yesterday.
COVID measures ‘can’t last forever’
The Bahamas “cannot continue to live under restrictive COVID-19 measures” if it wants its tourism industry and wider economy to fully rebound from the pandemic, a businessman said yesterday.
IAN FERGUSON: Beware peril of unfair employee dismissals
When you terminate an employee’s contract without a fair reason, it is an unfair or unlawful dismissal. Sometimes these issues are dealt with at Industrial Tribunals but, quite often, there are many terminations that go unaddressed.
Bar owner: Let us open in morning
A pub owner yesterday suggested that he and other bar operators should be allowed to open at 9am in the morning to compensate for the hours lost to the night-time curfew.
Downtown business raises cruise concern
A downtown Nassau business yesterday challenged whether the cruise lines are giving their passengers correct information as just 20 percent are currently disembarking the vessel while in port.
Secret austerity deal denied
A senior Ministry of Finance official yesterday branded as “absolutely incorrect” assertions that the Government cut a secret austerity deal with its lenders in return for last year’s $825m foreign currency bonds.
Honeymoon cancelled
The Bahamas’ next administration will not have the luxury of a “honeymoon” upon taking office, a prominent banker warning yesterday: “It’s going to be right about the business because there’s a lot we must right.”
Minister: We stopped developer ‘free for all’
A Cabinet minister says the Minnis administration stopped a development “free for all” by introducing new laws and regulations similar to what foreign investors must comply with in their home nations.
‘Pent-up’ demand to invest post-election
Significant “pent-up demand” should fuel an increase in Bahamian capital market investment activity heading into 2022 with over $400m in transactions at various stages of readiness, a top banker said yesterday.
Businesses urge new Gov’t: Get COVID-19 under control
Business owners yesterday said they want the incoming administration to focus on controlling the COVID-19 pandemic so that The Bahamas can return to something resembling normality.
Forum aiming to ‘demystify’ COVID
TCL Group will this Monday host a virtual roundtable featuring multiple medical professionals in a bid to “demystify” the issues and concerns surrounding COVID-19.
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