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Good start
ActivTrades
Strong big-tech balance sheets lifted Wall Street into positive territory at the end of last week. However, disappointment over the latest US labour market report limited gains.
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'No fear of contradiction' on Govt $500m loan use
The Ministry of Finance's top official last night denied that a recent $500m loan was used to pay-off a maturing government bond as the Opposition raised renewed concerns over the financing.
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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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Bahamas to grow 'in low 2% range' in '24
Improvements to workforce productivity and the ease of doing business are critical to boosting economic output with Bahamian GDP forecast to expand in "the low 2 percent range" in 2024.
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Albany chief faces ‘largest insider trading’ fine for decade at $50m
THE Bahamas-based billionaire who led Albany’s development will pay “the largest financial penalty for insider trading in a decade” at $50m after he yesterday pleaded guilty to perpetrating a securities fraud.
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8th annual cycling event eclipses $500K in fundraising for Exuma causes
The Tour de Turquoise, the charity cycling event that raises funds for vital causes in Exuma while boosting healthy living and community spirit, revealed today this weekend’s ride was the most successful in the event’s history, raising nearly $150,000 and pushing total donations since the event started past the half million-dollar mark.
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Opposition doubles down on ‘fiscal jeopardy’ claim
THE Opposition’s finance spokesman yesterday doubled down on assertions that “the Government’s fiscal projec- tions are in jeopardy” and need to be adjusted in next month’s mid-year Budget.
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‘No reason to panic yet’ on 91% deficit
THE Government’s top finance official yesterday assured he has “no reason to panic yet” over the early 2023-2024 fiscal deficit as VAT revenues for December exceeded the prior year by 16-17 percent.
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Gov’ts $131m deficit goal ‘already out the window’
The Government’s projected $131m deficit for the current fiscal year is “already out the window” given the performance for the first four months, a financial analyst asserted yesterday.
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GB entrepreneur to crowd fund entertainment centre
A Grand Bahama entrepreneur will formally announce his bid to crowd-fund the development of an entertainment centre on February 3.
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Bahamas $500m loan secures over half external finance need
The Bahamas has secured more than half its foreign currency financing needs for the current fiscal year by obtaining a $500m loan partially guaranteed by the Inter-American Development Bank (IDB).
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Dorian 'hangover' cuts outlook for the Summit
A Bahamian insurer yesterday voiced optimism it will soon break free of its "Hurricane Dorian hangover" and escape any potential downgrade by the industry's main creditworthiness assessor.
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Crowdfunded real estate business still waiting one year later for Securities Commission approvals
AKERAGE Ltd, a crowdfunding business promising to revolutionize how people invest in real estate, is still awaiting relevant approvals from the Securities Commission of The Bahamas a year after announcing provisional approval from the regulator.
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DR KENT BAZARD – The Role of Sports Psychology in Injury Rehabilitation: A Path to Recovery and Resilience
In the world of professional sports, injuries are an unfortunate and often inevitable part of an athlete’s journey. Whether it’s a torn ligament on the basketball court, a strained muscle during a game, or a debilitating stress fracture, these injuries can have profound physical and psychological implications. However, there’s an often-underestimated ally that plays a crucial role in the recovery process – sports psychology.
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FTX Bahamas properties must fetch ‘80% of value’
All sales of FTX’s 35 high-end Bahamas properties must fetch a price that is “equal to or greater than 80 percent” of their broker-appraised values, it has been revealed.
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200 jobs through Ocean Club’s $400m expansion
The Ocean Club’s upcoming $400m expansion will create 200 full-time jobs once the development is fully completed in 2027, the project’s partners have revealed.
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FTX real estate sell-off can’t cover $256m debt
The sell-off of FTX’s high-end properties “will not be sufficient” to fully repay the $256.3m debt owed to the crypto exchange’s Bahamian subsidiary, it has been asserted.
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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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Departures up nearly a quarter in November, says Central Bank
The tourism sector recording "healthy growth" with departures up 23.9 percent in November with the economy forecasted to maintain its growth trajectory for the remainder of the year, the Central Bank said yesterday.
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FRONT PORCH: ‘Until then it is still night’
THERE is an allegory that serves as a prism for some of the light and meaning of the Incarnation and Christmas: “An old Hasidic rabbi asked his pupils how they could tell when the night had ended and day begun, for daybreak is the time for certain holy prayers. ‘Is it,’ proposed one student, ‘when you can see an animal in the distance and tell whether it is a sheep or a dog?’ ‘No,’ answered the rabbi.
