All results / Stories
Development Bank in $3m COVID support
The Bahamas Development Bank (BDB) yesterday said it has approved more than $3m in COVID-19 financing for small businesses as it prepares to open its doors to the public on June 8. The state-owned institution, in a statement, disclosed that it has p
'Three weeks from oil drilling.. then COVID'
A Bahamas-based oil explorer yesterday revealed it was “within three weeks” of drilling its first well until COVID-19 intervened as it unveiled a revised timetable taking its operations into the 2021 first quarter. Simon Potter, Bahamas Petroleum Co
Major events planner in NIB payout fears
A major Bahamian events planner yesterday voiced concern about the “horrible situation” facing its staff and other workers due to delays in National Insurance Board (NIB) benefit payouts.
IMF: Bahamas faces 'deep recession' risk
The Bahamas faces “a deep recession” due to the “unprecedented crisis” caused by the combination of COVID-19 and Hurricane Dorian, the International Monetary Fund (IMF) has warned.The Fund, in approving this nation’s request for an “emergency” $250m
PM puts web shops in 'dice roll' dilemma
Two Bahamian web shop operators must now “roll the dice” on whether to proceed with their legal action against the Prime Minister after he re-opened the industry less than 24 hours after its filing.Wayne Munroe QC, the attorney for Paradise Games and
From 160,000 to near zero at COVID-hit LPIA
Major Nassau/Paradise Island resorts suffered a 28 percent room revenue fall for the 2020 first quarter just before COVID-19 unleashed its full fury with only 445 passengers exiting The Bahamas’ major airport during April. The Central Bank of The Ba
Ministry remembers Alrae Ramsey and Dr Blair John on anniversary of disappearance
THE one year anniversary of the disappearance of Alrae Ramsey and Dr Blair John in Italy was marked on Friday.
Fishermen oppose forced sales to local wholesalers
Bahamian fishermen are opposed to COVID-19 restrictions that force them to sell their product to wholesalers at prices that make it difficult to gain a proper return, an industry representative said yesterday. Adrian LaRoda, the Bahamas Commercial F
‘Deficit will not lead to new taxes’
DEPUTY Prime Minister and Minister of Finance Peter Turnquest said the government does not anticipate a need for new taxes when the economy recovers from the COVID-19 crisis.
Auto industry re-opening 'matter of life and death'
Auto dealers say today’s full sector re-opening was increasingly becoming “a matter of life and death” with as much as “half the industry” in danger of folding had the Government not relaxed COVID-19 restrictions.Ben Albury, Bahamas Bus and Truck’s g
‘Quash coconut conviction’
KHANDI Gibson, founder and president of the local advocacy group Families of All Murder Victims (FOAM), is calling on the government to quash the conviction of a teenager who was fined for selling coconuts on the side of the road last month.
Shell seeks licence for new power plant
Shell North America says it has become the first company to apply for an independent power producer (PP) licence in The Bahamas through its May 29 submission to local regulators.The energy giant, in a statement, said the approval as an IPP is essenti
Budget's $55m for small firms 'too moderate'
The government was yesterday urged to almost double the small business financing provided in the 2020-2021 budget to $100m, a sector consultant arguing that the planned allocation was “too moderate”.Mark A Turnquest, pictured, of Mark A Turnquest Con
Be 'cold' over $100m SOE subsidy slashes
The government was yesterday urged to make “cold” decisions on whether to retain loss-making state-owned enterprises (SOEs) after it unveiled plans to slash their annual subsidies by $100m within four years. Gowon Bowe, a former Chamber of Commerce
Shoppers urged: 'Rebuild country from within'
Bahamians were yesterday urged to “rebuild our country from within” and “think twice” about spending money abroad as the prime minister gave the go-ahead for the retail sector’s full re-opening.Egan Kemp, president of Eunison Company, the Shoe Depot
Exuma Chamber chief: struggle to return 60%
Exuma’s Chamber of Commerce president has warned it will take time for economic activity to return to levels where it can support 60 percent of businesses that existed prior to the COVID-19 pandemic.Hailing the prime minister’s decision to allow full
Budget must have private sector's back
The government is being urged to “drive confidence” by using today’s 2020-2021 budget to show the private sector it will do whatever it takes to “undergird the economy” and prevent its collapse. Jeffrey Beckles, the Bahamas Chamber of Commerce and E
Fishermen: We wanted vehicle duty reductions
Commercial fishermen yesterday said they would have welcomed a reduction in import tariffs on vehicles used to transport their catch rather than tax breaks on equipment already duty-free. Adrian LaRoda, the Bahamas Commercial Fishers Alliance’s pres
Beauty salons hopeful of re-open by end-June
Barbers and beauty salons yesterday voiced optimism that the government may allow them to re-open before end-June even though several operators have already decided to close permanently. Dellarese Taylor, the Bahamian Cosmetologists and Barbers Asso
Financial provider hails budget tax rise rejection
A Bahamian financial provider has praised the government for rejecting new or increased taxes in the 2020-2021 budget, branding its fiscal strategy as “very bold, creative, inclusive and collaborative”. Robert Pantry, pictured , Simplified Lending’s
