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IDB warns Bahamas over due $900m external loans

The Bahamas still faces significant financing risks given that it is due to repay $900m in foreign currency loan principal over the next two years, a multilateral lender has warned.

Port: Inflation’s worst over as profits 8% above target

Nassau’s main commercial shipping port yesterday said “the worst of the disruption” from COVID inflation and supply chain shocks is over with its $8.5m profit at end-March almost 8 percent ahead of target.

Insurer ‘very, very close’ on 55% Bahamas dependence

A Bahamian insurer says it is “very, very close” to hitting its goal of reducing its reliance on this nation to 55 percent of its property and casualty underwriting aggregates.

Chamber chair calls for ‘tax code simplification’

The Chamber of Commerce’s chairman yesterday urged the Government to “simplify the tax code” and ease of doing business as he identified discrepancies in Business Licence filing requirements.

Minister ‘cautiously optimistic’ over $900m carbon credits

A Cabinet minister yesterday said the Government is “cautiously optimistic” that The Bahamas could earn $900m per year from monetising its seagrass and mangrove carbon sinks.

Drop ‘old-style politics’ to improve fiscal credibility

The Government must not “hold its cards close to its chest” if it knows it will miss this year’s $131m fiscal deficit target by a significant margin, a senior Bahamian banker warned yesterday.

Teams advance in high school soccer nationals

Three teams kept their quest of winning the 2024 Samuel P Haven Jr High School Soccer Nationals alive yesterday at Roscow A L Davies Soccer Field while another trio of teams were eliminated from the tournament.

Gov’t sticks to fiscal target as $215m FDI beats pre-COVID

The Government says foreign direct investment (FDI) inflows are now “substantially” above pre-COVID trends at $215m while sticking to its original target of slashing this year’s fiscal deficit by 75 percent.

Baha Mar hosts its second annual golf invitational for charity

BAHA Mar hosted its second annual golf invitational for charity over the holiday weekend, netting nearly $200,000.

Provider’s digital solution to staying NIB compliant

Bahamian companies should employ digital and human resources software to ensure they stay compliant with National Insurance Board (NIB) obligations, IT executives are urging.

Another year and the story stays the same with BPL

THERE were more than a few sighs of frustration at the weekend, as once again the country was hit by load shedding.

Insurer eyes ‘beyond Caribbean’ expansion despite $3m profit fall

A Bahamian insurer yesterday revealed it is targeting expansion beyond the Caribbean after overcoming a more than $3m net income drop as catastrophe costs “increased over 50 percent”.

Four teams ‘in the hunt’ for GSSSA soccer title

Four teams remain in the hunt for the 2024 Government Secondary Schools Sports Association (GSSSA) junior girls and boys soccer championships.

‘Vexatious litigation’ delayed rescue of starving dolphins

AGRICULTURE and Marine Resources Minister Jomo Campbell defended government’s efforts to rescue five dolphins from Blackbeard’s Cay.

Realtor holds double Briland showing

A Bahamian real estate firm says it hosted a Harbour Island first by staging a double open house on May 2, 2024.

Freeze on $2.288m City Markets HQ buy upheld

The Court of Appeal yesterday upheld an injunction freezing $2.288m that was paid by a BISX-listed food group to acquire the major asset held by the City Markets employee pension fund.

'Operation United Force' nets weapons, drugs and a dozen arrests

A joint operation with local and international authorities targeting high-crime areas and prolific offenders in Abaco led to a dozen arrests and the seizure of two firearms today.

Gov’t ‘not begun to repay’ $239m IMF SDRs loan

The Government “has not begun repayment” of the $232.3m in IMF special drawing rights (SDRs) it controversially accessed via the Central Bank as the outstanding “loan” balance grew by $6.18m over 2023.

Gibson ‘wanted to burst ex’s brain’

LONG Island MP Adrian Gibson allegedly said in text messages that he sometimes wanted “to burst” his ex-fiance’s brain and that she screwed him over by “blaming” him.

‘Fantastic opportunity’ given Bahamas in UK tax change

Realtors yesterday argued The Bahamas has “a fantastic opportunity” to exploit changes in UK tax law by attracting hundreds of ultra wealthy individuals and their families to domicile in this nation.

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