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Exuma spill recovery ‘down to last 10-15%’
Exuma’s oil spill recovery was yesterday said to be “down to the last 10-15 percent” with the clean-up effort becoming progressively harder as more diesel fuel is pumped out.
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Bank chief pushes back on non-profits
Bank of The Bahamas’ managing director yesterday asserted it is “absolutely not” correct to accuse the commercial banking industry of seeking to “exclude” non-profit groups and charities from the financial system.
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Down to work on legislative agenda
THE Davis administration intends to advance several pieces of legislation over the next six to nine months, including laws addressing finance reform, citizenship issues and medicinal marijuana regulations.
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No bank fall-out on ‘unfriendly’ Russia
The Central Bank’s governor yesterday reassured “there is no material impact to The Bahamas’ financial sector” from Russia’s decision to name this nation among “unfriendly” countries opposed to its invasion of Ukraine.
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Water Corp selling 44% more thanks to huge loss reduction
The Water and Sewerage Corporation’s general manager yesterday said the utility is selling 44 percent more water than a decade ago despite a 12 percent production fall-off over the same period.
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Brace for higher inflation as growth trimmed to 5%
The Central Bank’s governor yesterday trimmed forecast Bahamian economic growth for 2022 “to at least 5 percent” while warning that the cost of living crisis facing many families has yet “to peak”.
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Doctors enjoys up to 40% non-COVID revenue rise
Doctors Hospital plans to unveil its new Bay Street pharmacy within 30 days, a top executive revealed yesterday, with monthly non-COVID revenues up to 40 percent higher than pre-pandemic comparatives.
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Realtor: One-third of deals fetch asking price or higher
A Bahamian realtor yesterday disclosed his average property sales price has “tripled” compared to pre-COVID levels with one-third of all transactions realising either what the seller is seeking or higher.
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Lucayan sale closing ‘hinges’ on airport fix
The Government “must” fix Grand Bahama’s Dorian devastated airport if it is to close the Grand Lucayan’s proposed $100m sale, a former director of the resort said yesterday.
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Tourism ‘market mix’ can beat Fed’s interest hike
The Bahamas Hotel and Tourism Association’s (BHTA) president yesterday voiced optimism that “pent-up” travel demand and a high-end “market mix” can sustain the post-COVID rebound despite the Federal Reserve’s latest tightening.
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Super Value chief ‘thrilled’ at Ukraine supply restart
Super Value’s principal says he is “very thrilled” that Ukraine has begun to ship grain and related products again although it will be some months before Bahamian consumers see any food price benefits.
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‘No future’ for Freeport’s Bazaar which nobody wants
THE Grand Bahama Chamber of Commerce president says he is not surprised fires continually happen at the International Bazaar because vagrants have moved in and no one wants to take full ownership of the “derelict” property.
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Realtors optimistic ‘hottest market in 40 years’ survives
Realtors are closely scrutinising whether “the hottest market The Bahamas has seen in 40-plus years” can survive rising global headwinds as they seek to maintain revenue increases of up to 79 percent.
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‘No further hiccups’ over Lucayan deal
The Opposition’s leader last night voiced concern that “there are no further hiccups” with the proposed Grand Lucayan sale with the extension to the buyer’s 60-day due diligence period set to expire this week.
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Haiti steps in for funeral costs
ACTIVIST Louby Georges said the Haitian government has committed to cover the burial costs of those who perished at sea after their boat capsized in waters off New Providence earlier this week.
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Arawak Cay is ‘close to levels pre-pandemic’
ARAWAK Cay vendors said with the increase of business recently, sales are close to pre-pandemic levels, especially with the return of Junkanoo Summer Festival.
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Farmers and fishermen bank being considered by ADO chairman
THE chairman of the Agricultural Development Organisation is considering starting a bank this year, particularly for farmers and fishermen.
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Union leader: ‘Hot spots’ will not become eruption
A trade union leader yesterday pledged that workplace “hot spots” will not erupt into full-blow strikes or industrial action, adding: “We are working around the clock to find a happy medium.”
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Crowdfund platform to add secondary trading
A Bahamian crowdfunding platform yesterday said it plans to launch secondary market trading and improve issuer disclosure through the launch of additional features over the next nine months.
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PM confirms Rothschild but no debt restructuring
The Prime Minister yesterday said Rothschild and Co will focus on “creating more [fiscal] headroom” for The Bahamas but emphasised this does not involve a restructuring of the country’s $11.8bn national debt.
