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‘Happy to be rid’ of ex-Robin Hood site
Compass Point’s last owner is voicing optimism that the sale of the former Robin Hood store on Prince Charles Drive will close before year-end after the property was plagued by vandalism, vagrants and copper theft.
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Tourism reaps double digit summer growth
A senior hotelier yesterday asserted that the industry’s “greatest growth opportunity” lies in increasing room inventory with summer rates and occupancies ahead of 2022 comparatives by double digits.
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Gov't already rejecting work permit renewals
A Cabinet minister yesterday said the Government has already begun rejecting work permit renewal applications for expatriates who have received approvals “consecutively” for the past 10 years or more.
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PM: COVID lockdown led to employment shrinkage
The Prime Minister yesterday blamed the former Minnis administration’s COVID lockdowns and other restrictions for the shrinkage in the workforce and number of employed Bahamians amid a bitter House of Assembly row.
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Unemployment rate drop labelled a 'smokescreen'
The Opposition's finance spokesman last night argued that the 8.8 percent unemployment rate, the lowest for 15 years, is a "smokescreen" that masks the "significant" reduction in the labour force's size and number of working Bahamians.
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Bahamas in multi-billion blue carbon credit boost
The Bahamas yesterday received a "huge" multi-billion boost to efforts to monetise its 'blue economy' assets after a study pegged the environmental value of its seagrass beds at greater than 15 times' the country's COVID-era GDP.
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Reinvesting 50% of corporate tax no GDP growth panacea
Reinvesting 50 percent of the revenues generated by a corporate income tax would lessen - but not eliminate - the negative economic impact of each of the four proposed implementation options, the Government is forecasting.
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Bahamas: $176m aviation income ‘just and equitable’
The Bahamas’ plan to generate $176m from the first five years of its new overflight fees regime was defended to US aviation regulators as “just and equitable for all air space users”.
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Bahamas requires $16bn economy ‘to make sense’
The Bahamas must grow its economy to $16bn, expanding its size by around one-third, if its future is “to make sense” in the absence of government austerity, a governance reformer urged yesterday.
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‘Disaster for business’: Village Road works in up to 46% loss
Village Road companies have branded the area’s ten-month long roadworks “a disaster for business” with income losses running as high as 46 percent and damaged properties urgently needing repairs.
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National debt shrinks - but only falls $21m
The Bahamas’ national debt enjoyed its first quarterly contraction for years during the three months to end-September 2022, the Central Bank revealed yesterday, although the decline was a modest $20.7m,
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Minister demands food retailers ‘respect’ law
A Cabinet minister yesterday demanded that food retailers “respect” the law and adopt the Government’s expanded price control regime or face an enforcement crackdown that will see fines and penalties levied.
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‘Headroom for growth’: Tourism forecast to hit regional average
A senior hotelier yesterday said The Bahamas “still has some headroom for tourism growth” post-COVID amid forecasts its annual expansion rate will merely match the Caribbean average for the next decade.
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Food price control negotiations silent
Negotiations with the Government over expanding price controls on the Bahamian food distribution industry have gone silent for more than two weeks much to the sector’s relief.
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Nicole: Tourism suffers no ‘overwhelming shrinkage’
The Bahamian tourism industry has not suffered a “material” reduction in bookings and guests despite now-Hurricane Nicole striking Grand Bahama and Abaco, a senior hotelier said yesterday.
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No resolution over food price control ‘stalemate’
The Bahamian food distribution industry was last night said to have reached a “stalemate” over efforts to strike a price control deal with the Government via a 1,000-strong product list designed to “more than half-way” meet its demands.
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‘Peaceful resolution’ targeted over food price control dispute
Food retailers and wholesalers were yesterday said to be hoping to seal a “win, win win” and “peaceful resolution” to their price control dispute with the Government when they meet three senior Cabinet ministers tomorrow morning.
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Food retailers expand price control list offer
Food retailers were last night hoping the Government will agree to an “expanded list” of price-controlled products before the weekend so that Bahamian consumers can enjoy cost of living “relief” come Monday.
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Retailers offer 10% ‘free’ food top-up plan
Bahamian food retailers have proposed a joint venture with the Ministry of Social Services where they will provide a 10 per cent ‘free’ food top-up targeted at “the most vulnerable among our Bahamian brothers and sisters”.
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PM right on Ingraham
It was reassuring to hear the Prime Minister single out the ideological shift of the post-1992 era as the most important challenge to the development of this country. It hopefully signals an emphasis on reversing the failed policies of that era and shifting us back toward genuinely progressive economic policies.
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