The Bahamas was last night urged to "move more urgently to rev the engine" after Moody's again downgraded the country's sovereign creditworthiness over fears its access to borrowing is being squeezed.
Bahamas Power & Light’s (BPL) $90m in unpaid fuel arrears owed to Shell is “substantially higher” than the Opposition and others had predicted, it was revealed yesterday.
BPL BILLS HIKE ‘FINAL NAIL IN THE COFFIN’: Retail chief brands fuel charge rises ‘completely insane’
The Bahamas Federation of Retailers co-chair yesterday warned that electricity fuel charge hikes of up to 163 percent will be “the final nail in the coffin” for COVID-ravaged businesses yet to regain financial viability.
Bahamas Power & Light (BPL) was on target to lock-in fuel costs “through March 2024” that were up to 58 percent less than the skyrocketing increases unveiled by the Government yesterday, documents have revealed.
The Bahamas was yesterday urged to tell the European Union (EU) that “enough is enough” after this nation’s ‘blacklisting’ for allegedly being uncooperative on international tax matters was ratified.
The Prime Minister yesterday admitted he had wanted to hold-off on up to 163 percent increases in Bahamas Power & Light’s (BPL) fuel charge for longer to give struggling Bahamian families more time to rebound from COVID-19.
Questions were raised yesterday as to why Bahamas Power & Light (BPL) is proposing to increase its fuel charge by up to 163 percent at a time when global oil prices are starting to decline from their March 2022 peak.
Bahamian hotels yesterday warned that Bahamas Power & Light’s (BPL) planned fuel charge hikes of up to 163 percent have caused “outright anxiety” in the sector and could “derail” the post-COVID return to financial viability.
Bahamian property owners were yesterday warned to brace for further insurance hikes with one underwriter revealing Hurricane Ian’s multi-billion dollar devastation brought back memories of market conditions from 30 years ago.
The Bahamas must “live up to the letter and intent of the law” on public procurement, a governance reformer urged yesterday, as he hailed the unveiling of the Government’s new and upgraded tender portal.
Bahamasair’s top executive yesterday revealed more than 1,800 passengers were impacted by Sunday’s flight attendant sickout as he voiced optimism that the airline’s reputation will not suffer long-term damage.
Bahamian stopover arrivals rebounded to 90 percent of pre-COVID levels for July as the tourism recovery maintained its momentum by attracting some 3.677m visitors during the first seven months of 2022.
Bank of The Bahamas is imposing “heavy early repayment penalties” on construction mortgages in a bid to dissuade borrowers from treating such loans as a “bridging” facility to its detriment.
A CABINET minister yesterday said reforms to the Public Procurement Act may be tabled in Parliament tomorrow as the Government unveiled the upgraded electronic system via which all public sector contracts will be made available.
THE Prime Minister yesterday reiterated that his administration remains committed to allocating 5 percent of the Government’s annual procurement budget to young Bahamian entrepreneurs.