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Stable coins better suited for international customers
A Bahamian attorney says stable coins are a product better-suited for the international, rather than domestic, market as this nation moves to introduce new measures to better regulate the product.
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IMF: ‘Deeper effort’ on digital asset regulation
The International Monetary Fund (IMF) last night urged The Bahamas to undertake “deeper efforts” to regulate digital assets firms by providing more resources to inspect their operations.
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Bahamas cool over IMF interest rate rise nudge
THE Bahamas has reacted coolly to persistent nudging from the International Monetary Fund (IMF) that it should raise short-term interest rates to narrow the gap with those in the US.
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Restaurant crowdfunder targeting $2.4m in sales
A restaurant entrepreneur yesterday said he is targeting $2.4m in total sales for 2023 as he mulls opening a third location on Carmichael Road.
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Banks see 30% profits increase
Bahamian commercial banks collectively enjoyed a 30 percent year-over-year profit increase to $109.2m during the 2023 second quarter due to rising interest income, it was revealed yesterday.
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Bowe: Govt should pay off debt and work at surplus
A TOP financial expert has said the government should aim to pay off its debt and operate at a surplus - for the first time since Independence.
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Bartlett Hill Primary School girls and boys win basketball titles
PRINCIPAL Denika Martin, staff, coaches and students of Bartlett Hill Primary School celebrated the victories of their boys and girls teams in the recent Grand Bahama Primary Schools Sports Association’s basketball championship series.
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Long Island developers eye Diamond Crystal site revival
A developer aiming to transform the site of Long Island’s one-time largest employer yesterday pledged to “change the narrative” that “conservation and development are at odds” in The Bahamas.
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'Decade of contraction' ends with $50m credit expansion
The Central Bank's governor yesterday revealed "a decade of steady contraction" in lending to the private sector was halted by 2023's $50.3m credit expansion although mortgage activity remained "subdued".
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Global hike
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The Bank of England, the UK central bank, is raising interest rates to 5 percent in the fight against inflation.
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Is good news really good news?
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Despite the tight monetary policy, the boom in the US job market continues unabated and is once again fuelling concerns about further interest rate hikes among financial markets players. A total of 336,000 new non-farm jobs were added, almost twice as many as many economists had expected. In addition, according to revised government data, there were around 120,000 more jobs in August and July than initially reported.
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Grand Lucaya sees rise in occupancy numbers over long Easter weekend
SOME hotel properties experienced occupancy levels of between 30 and 40 percent over the Easter holiday, particularly in the Lucaya area.
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Developer sparks ‘500 leads’ with community’s sales start
A Bahamian developer yesterday disclosed it has generated “well over 500 verified leads” for potential purchasers in its south-western New Providence community just over a week after launching its sales drive.
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NIB’s $240m loss at COVID’s peak
COVID-19 has left the National Insurance Board (NIB) facing an “uphill lift” to recovery after plunging the nation’s social security system into a $240m loss at the pandemic’s peak.
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ALICIA WALLACE: True investment in women starts with the goverment
INTERNATIONAL Women’s Day has come and gone, but we will see photos, videos, articles, and other forms of media related to it for the rest of the week as we all go through our camera rolls, receive footage, and think about the messaging that has been sent over the past few days.
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‘Junkanoo parade has outgrown Bay Street’
JUNKANOO Corporation of New Providence Chairman Dion Miller said the annual parades have outgrown their Bay Street venue –– and Youth, Sports and Culture Minister Mario Bowleg agrees.
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Investment Policy revamp planned
The Government is aiming to revamp the National Investment Policy (NIP) and is holding consultations with industry in a bid to eliminate approval process red-tape, a senior official said yesterday.
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Software with solid gains
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August is behind us and markets worldwide had a more or less quiet month. In New York, caution about the forthcoming labour market report has somewhat pushed the hopes of an interest rate pause by the US Federal Reserve into the background. The leading index, the Dow Jones Industrial Average, slipped gradually until the end of August and posted a loss of 2.4 percent.
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ALICIA WALLACE: No more empty words, govt - we need action on equality
We have to demand more from the government
IN two days, it will be Women’s History Month, also known as International Women’s Month due to International Women’s Day being on the eighth. It is a time to not only acknowledge the work and achievements of women in the past, but to face the issues of the present in a way that can contribute to an equitable future.
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Trade deficit’s $3.5bn six-year high ‘tremendous opportunity’
THE Bahamas faces “a tremendous opportunity” if it can start making inroads into a trade deficit that hit a six-year high of around $3.487bn in 2023, it was argued yesterday.
