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08142023 HOME BUYER'S GUIDE
Monday, 14th August, 2023.
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Equestrians celebrate in grand style at End of Year Awards event
IT was a festive atmosphere at Balmoral House this weekend as equestrian athletes, trainers and federation officials gathered with friends and family to celebrate the end of the 2022-2023 competition year, which featured strong performances at home as well as successes in regional and international competitions.
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Rates remain unchanged
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After their recent record run, the international stock markets lacked further momentum at the end of last week. On Friday, investors lacked buying arguments on both sides of the Atlantic and trading was experiencing a lacklustre day all around.
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FRONT PORCH: Attitudes towards the disabled must change
WE live in a highly materialistic society in which many of us measure our self-worth by our possessions, ranging from the vehicles we drive to the brand name clothes which adorn our perfumed accents, bodies and privileges.
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Reserves stay ‘buoyant’ though growth reduced
The Central Bank yesterday said The Bahamas’ external reserves are set to remain “buoyant” in 2023 although June’s growth is $44.4m short of 2022’s expansion.
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Minnis queries ‘Prime Minister’s slush fund’ increase of $6.9m
A BUDGET line item that former Prime Minister Dr Hubert Minnis called “the Prime Minister’s slush fund” received a 2023/2024 Budget increase of $6.9m compared to the year before.
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National debt up as spending rises faster than revenue growth
The Central Bank revealed yesterday that the national debt grew by $206m over the last quarter.
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Minister urges end to pensions anomalies
A Cabinet minister yesterday called pension anomalies impacting Royal Bahamas Defence Force officers to be addressed.
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Hitting near 3% growth to make ‘incredible difference’
Economic growth in the “upper 2 percent” range and above will make “an incredible difference” to The Bahamas’ economic prospects if achieved consistently, the Central Bank governor asserted yesterday.
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Bahamas crypto exchange set to ‘add another chapter’
A crypto currency exchange Bahamian subsidiary says it will unveil a new feature for its platform next month to further cement its “significant” contribution to the parent's global brand.
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Strong start on market for Windsor Lakes project
A Western New Providence gated development pegged at $50m has reserved one third of its lots in its first month on the market, with marketing expected to ramp up in the next month.
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Oops - no limit on beach access, says Goldwynn
GOLDWYNN is not blocking non-guests from accessing beaches, a resort official said yesterday.
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Governor trims Bahamas GDP growth to ‘3% range’
The Central Bank’s governor yesterday again trimmed his 2023 economic growth forecast to “the 3 percent range” as he warned The Bahamas is poised to next year “resettle” back into low expansion rates.
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Central Bank expects growth at ‘moderated pace’ in economy
The Central Bank revealed yesterday that the reduction in external reserve balances for November slowed by over $77.8m from 2022, reflective of net foreign currency outflows through the private sector.
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Carnival ‘spruce up’ for 50% passenger growth
A senior Carnival executive yesterday said the cruise giant plans to “spruce up” Princess Cay, adding that the Eleuthera-based private island needs “quite a bit of love”.
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Prepare for soft landing
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In view of the slowdown in inflation, US consumers increased their consumption significantly in June. The US Commerce Department said last Friday that consumers increased their spending by 0.5 percent from the previous month. Economists had expected growth of just 0.4 percent, down from a revised 0.2 percent in May. Private consumption is a cornerstone of the US economy, which continued to grow robustly in the spring, also thanks to consumer spending.
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Central Bank warned over Gov’t lending limits breach
The Central Bank was advised it could breach its legal lending limits to the Government through the latter’s use of $232.3m in IMF special drawing rights (SDRs) without reforms to its governing Act.
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Reserves hit $2.9bn on Gov’t borrowing boost
The Bahamas’ foreign currency reserves expanded by almost $169m in May due to a boost from the Government’s external borrowing activities as they closed the month at near-$2.9bn.
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Governor trims growth forecast ‘closer to 4%’
The Bahamas’ stopover visitor numbers rebounded to 97 percent of pre-COVID levels in the 2023 first quarter, the Central Bank’s governor said yesterday, while slightly trimming his full-year economic growth forecast.
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Higher for longer
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Hopes remain for a continuation of the year-end rally on the equity markets. After the recent price gains, investors are hoping for such an outcome. In the coming week, economic data and signals from central banks are likely to dominate events.
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