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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.
Over 35% of Gov’t local debt comes due in year
More than one-third of the Government’s domestic debt holdings, equivalent to around $2.3bn, is due to mature within the next year as it moves to eliminate “spikes” in principal redemption that place undue strain on its finances.
Brewery succeeds in $1.2m tax challenge
Commonwealth Brewery has revealed it successfully challenged a $1.156m tax demand by the Government and is now awaiting its response to the arbitration ruling.
Vehicle theft claims ‘out of the ordinary’
A Bahamian insurer says an “out of the ordinary” increase in motor vehicle theft claims was among the principal factors why it missed profit projections for 2021.
Reflating economy aids $11.843bn debt burden
The Bahamas’ $11.843bn national debt at end-March 2022 has dropped below this nation’s economic output due to the continued post-COVID-rebound, resulting in a debt-to-GDP ratio of around 98.4 percent.
Gibson Jr and Rolle capture Unca Lou title
ONE of the top amateur golfers teamed up with one of the youngest competitors in the field as Richard Gibson Jr and Kerrington Rolle combined for a 59 net to win the St Augustine’s College Alumni Association’s inaugural Unca Lou Golf Tournament.
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.
‘Options limited’ over relief for gas dealers
The Ministry of Finance’s top official yesterday said the Government’s “options are limited” in providing the relief sought by petroleum retailers struggling with gross margins of 10 percent or less.
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.
Junior boys suffer third straight loss
FIBA UNDER-15 CENTROBASKET CHAMPIONSHIPS
THE Bahamas junior boys’ basketball team suffered their third straight loss at the FIBA Under- 15 CentroBasket Championships in Puerto Rico.
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.
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
Electric cars are a risk of electrocution
In the 2022/2023 Budget Communication, Prime Minister Philip Brave Davis announced that his government will reduce the duty rate on electric vehicles valued under $70,000 to 10 percent.
Top squash players to hit the walls swinging
THIRTY local squash players are set to compete in the inaugural Four Walls Squash Open Championship tournament, starting Wednesday at Four Walls Squash and Social Club.
Kai Jones returns home
KAI Jones returned home for the first time since he completed his rookie season in the NBA and already has his sights set on the offseason and improvement headed into year two.
Davis says govt will ‘hold the line’ on NIB increase
AN increase in National Insurance Board contributions will not come off the table until the Davis administration decides whether or not to accept the recommendations of experts regarding the sustainability of the NIB fund, Prime Minister Philip “Brave” Davis said yesterday.
Bahamians take ‘partial’ medicine on VAT return
THE Democratic National Alliance’s (DNA) former leader says Bahamians have increasingly been obtaining “partial” as opposed to full prescriptions after VAT was reimposed on medicines with effect from January 1.
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.
Men’s national soccer team suffers heartbreaking loss
The men’s national soccer team suffered another heartbreaking loss, this time 2-0 to Nicaragua on Friday before the home crowd at the Thomas A Robinson National Stadium.
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.
