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Foreign reserves stay over $3bn despite May decline
The Bahamas’ foreign currency reserves closed May 2022 above $3bn despite a $65m drop-off during the month, with the Central Bank reiterating its belief that they remain “more than adequate” to sustain the US dollar peg.
Sanctions harm Bahamas
Prime Minister Philip “Brave” Davis’ pleas to Washington, DC, to lift sanctions on the Nicolás Maduro administration in Venezuela seems to have fallen on deaf ears, judging from a recent press release by the US State Department. Maduro has been president of that South American country since 2013. His government can now be classified as a dictatorship. Venezuela has the largest oil reserves in the world.
OTABOR WINS GOLD IN JAVELIN: Team Bahamas nets three silver medals
The Bahamas will return home from the inaugural Caribbean Games in Baie-Mahault, Guadeloupe, with a total of four medals, inclusive of a gold from strongwoman Rhema Otabor and three silver from quarter-miler Megan Moss, hurdler Oscar Smith and judoka Daniel Strachan.
Stock split revival with Fidelity ‘on $25m track’
Fidelity Bank (Bahamas) will unveil plans for its long-awaited stock split at next month’s shareholder meeting, its chief executive revealed yesterday, as it eyes a total $17.5m dividend payout to investors in 2022
Insurers ‘totally in blind’ on Budget tax changes
Bahamian insurers yesterday said they are “totally in the blind” as to how Budget tax reforms will work with “time having run out” to make any adjustments due to the new fiscal year beginning today.
The Marxist Leninist neighbour
The month of June saw an uptick in the number of Cuban migrants being apprehended by Defence Force and US Coast Guard personnel.
Air arrivals hit 85% of pre-COVID levels
Total air arrivals to The Bahamas rebounded to 85 percent of pre-COVID numbers during April, more than doubling prior year numbers for a period that included the peak Easter holiday weekend.
‘No bang for the buck’: Insurer eases off motor
A Bahamian insurer says it is “shying away” from providing third-party motor coverage because “the bang for the buck is not worth it” when returns are weighed against potential losses.
Gov’t turns down Ginn bid and plan
The Government has rejected a bid to acquire the former Ginn sur mer project, which planned to construct a 28-storey “iconic tower” modelled on Alexandria’s ancient lighthouse, in its present form.
DIANE PHILLIPS: Growing the economy doesn’t happen when you do what you’ve always done
PRIME Minister Philip “Brave” Davis set off a maelstrom of misdirected mischief when he announced elimination of duty on pleasure boats, a concept that goes back decades and was intended to come to fruition at least ten years ago.
Cable beats target by $50m on ‘largest ever refinancing’
Cable Bahamas yesterday revealed it beat its preference share rollover target by $50m as it hailed completion of “the biggest refinancing the market has ever seen”.
