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$10bn debt blow-out 'our worst nightmare'
Private sector executives yesterday warned “our worst nightmare has come true” after the government unveiled record deficit spending that will carry the national debt past the $10bn mark by June 2022. K Peter Turnquest, deputy prime minister, told t
Airport cuts departure area seating by 30%
Seating in post-security departure areas at Lynden Pindling International Airport (LPIA) has been reduced by 30 percent as part of multiple health-related measures to combat COVID-19. The Nassau Airport Development Company (NAD), LPIA’s operator, sa
High property transaction costs hit competitiveness
A Bahamas-based contractor yesterday said the construction industry can mount a “110 percent recovery” from COVID-19 as he warned that high real estate transaction costs were making this nation uncompetitive. Costa Berdanis, Tarcon Construction’s pr
LGBTI community still planning pride march
THE Bahamas LGBTI community has no intentions of cancelling 2020 Pride Bahamas events as a result of the COVID-19 pandemic, according to organisers, who said the launch will still take place in October, but under certain guidelines. Speaking to The
Arawak Cay, Potter's Cay vendors anxious to resume operations
VENDORS at Arawak Cay and Potter’s Cay Dock say they are anxious to resume operations and are hoping to be given the “green light” soon to conduct business as it’s “unfair” that more businesses are allowed to operate, while their establishments remain closed.
Scotiabank wins regional honour
Scotiabank Bahamas is celebrating its second consecutive Best Bank award after again being named on Global Finance Magazine’s list of 2020 Best Banks in the Latin American region. The selection comes amid an ongoing digital transformation designed t
Economy's shrink to exceed $1.3bn deficit
The Bahamian economy will this year shrink by a greater amount than the government’s projected $1.3bn deficit for the upcoming 2020-2021 fiscal year, the deputy prime minister revealed yesterday.K Peter Turnquest, unveiling the 2020-2021 budget in th
Tornado races in to cause trouble
A TORNADO touched down in Deadman’s Reef, Grand Bahama early Tuesday morning, causing major roof damage to at least three homes and knocking down utility poles and power lines in the area. No fatalities or injuries were reported, an official said.
Airlines: We needed more re-open notice
The government should have given more than 24 hours’ notice of its decision to re-open “the lifeline for the Family Islands” so that the private sector could be better prepared, aviation operators said yesterday.Anthony K Hamilton, president of the B
Govt plans civil service 'freeze'
The government is planning to freeze all civil service hirings, promotions and salary increases in a bid to limit the size of a potentially massive 2020-2021 fiscal deficit, it was revealed last night.Kimsley Ferguson, the Bahamas Public Service Unio
Stopping for a soda costs pool cleaner $500
A POOL cleaner who claimed he was outside during the country’s weekend lockdown because he stopped to buy a soda on the way to his employer’s house was fined $500 yesterday. Willo Desamue, 37, appeared before Deputy Chief Magistrate Andrew Forbes aft
GBPA donation helps restore Grand Bahama public library
THE only public lending library on Grand Bahama is undergoing restoration after being severely damaged by Dorian, thanks to more than $250,000 from the Grand Bahama Port Authority.
Govt won't intervene in rent disputes
DEPUTY Prime Minister and Minister of Finance Peter Turnquest said the government does not plan to intervene in and settle disputes between landlords and tenants who qualify for the COVID-19 rental assistance programme. On April 27, Prime Minister D
Cancer Society appealing for donations as events called off
THE Cancer Society of The Bahamas is appealing for donations to continue its operations and outreach after the COVID-19 pandemic and Hurricane Dorian prompted the cancellation of major fundraising events.
How human risk-perception influences stock markets
WITH the global economy contracting at the fastest ever peacetime pace, it is bewildering to see stock markets moving in the opposite direction. So, why are investors endangering their capital at a time of such uncertainty by speculating on the perfo
Cancer Society appealing for donations as events called off
THE Cancer Society of The Bahamas is appealing for donations to continue its operations and outreach after the COVID-19 pandemic and Hurricane Dorian prompted the cancellation of major fundraising events. The non-profit organisation is committed to
Minister: 50% jobless rate hit to work permits
A Cabinet minister yesterday warned some existing work permits are unlikely to be renewed as The Bahamas grapples with a 50 percent unemployment rate post-COVID-19. Elsworth Johnson, minister of financial services, trade and industry and immigration
Tourism needs 18 month 'ramp up'
A Cabinet minister yesterday said the tourism industry could take 18 months to fully “ramp up” following the COVID-19 shutdown. Dionisio D’Aguilar, pictured , minister for tourism and aviation, told media outside the Cabinet Office: “Obviously we ha
Financial provider urges Bahamians: Don't panic
A Bahamian financial services provider yesterday urged citizens and investors to exploit the COVID-19 pandemic for opportunities rather than simply panic. Sean Longley, pictured , Leno’s founder and president, said: “We read the headlines daily. We
Hurricane shelters expanded
MINISTER of Disaster Preparedness Iram Lewis said officials are increasing hurricane shelter capacity to ensure people in these facilities can maintain social distance amid the COVID-19 pandemic. His comments came during a virtual press conference on Sunday, where stakeholders discussed the country’s readiness for the hurricane season, which began yesterday.
