Foreign currency finance move a ‘work in progress’
The Central Bank will better understand the true level of foreign currency financing demand among Bahamian businesses when the next exchange control liberalisation phase take effect on April 24, its governor said yesterday.
‘No complaints’ on 72% profits decline
Bahamas First’s chief executive was yesterday “not complaining at all” despite a 72 per cent fall in total comprehensive income for 2016, driven by a one-third increase in net claims stemming from Hurricane Matthew.
Vacation rentals ‘explosion’ threat to hotel business
The “exploding” vacation rental market will likely eat into hotel occupancy rates, a Bahamian realtor predicted yesterday, estimating that 20 per cent of this nation’s stopover visitors are currently using such accommodation.
BoB bail-out debtors block property access
Three of the ‘bad’ Bank of the Bahamas’ debtors involved in its bail-out are refusing to grant access to their properties, with the total portfolio transferred now worth 55.6 per cent less than the original valuation.
Insurer promises to tackle ‘affordability’
Bahamas First yesterday pledged to work with the next government on a plan to increase insurance “penetration”, and reduce the devastation caused by Bahamians’ inability to afford adequate coverage.
Bahamas First in ‘exclusive’ Cayman patient refer deal
Bahamas First’s chief executive yesterday said it “definitely has no intention” of entering the local health insurance market, despite a subsidiary obtaining ‘exclusive rights’ to refer Bahamian patients to a Cayman hospital.
Credit Bureau ‘eye opener’ for debt-laden Bahamians
The proposed Credit Bureau will be an “eye opener” for many Bahamian consumers when it exposes just how heavily indebted they are, the Central Bank’s governor said yesterday.
Carnival bands ‘cross fingers’ over profits
Junkanoo Carnival band owners were yesterday said to have their “fingers crossed’” they will still make a profit from this year’s event, with the postponement reversal having driven away both international and local revellers.
Grow GDP six times faster to ‘salvage ship’
The Bahamian economy has to grow “six times’ faster than it is today” to solve the country’s debt and unemployment woes, a governance reform campaigner yesterday questioning whether it was still “a salvageable ship”.
Bahamas Realty hopes 15% growth not hit by election
Bahamas Realty’s chief executive yesterday expressed hope the imminent general election will not stall the 10-15 per cent year-to-date growth in business, which comes on top of 2016’s 60 per cent gross sales rise.
Web shop loses injunction bid against GBPA
A web shop operator is appealing the Supreme Court’s refusal to prevent the Grand Bahama Port Authority (GBPA) from potentially cancelling its license to operate in Freeport.
Exporter targets live China lobster approval by Xmas
A Bahamian seafood exporter yesterday said it expects to receive approval to export live lobsters by air to China before Christmas, adding that this market could ultimately surpass the US as its largest.
DNA proposes 3% health payroll tax
The Democratic National Alliance’s (DNA) leader yesterday pledged that the party will “bring the economy back” so that Bahamians could afford its proposed 3 per cent payroll tax for financing universal health coverage (UHC).
Medical laboratories fear ‘unsustainable’ NHI fees
Medical laboratories yesterday expressed surprise that the National Health Insurance (NHI) Secretariat had launched registration for the sector, disclosing that the payment structure being offered was unsustainable.
Bran unveils ‘road map to salvage the economy’
The Democratic National Alliance’s (DNA) leader yesterday said the party had unveiled “a road map to salvage the economy”, while denying that its campaign platform was making promises it cannot keep.
