‘Fiscal peril’: 120 per cent debt fear after next disaster
Politicians “have no business being in power” if they fail to address the Bahamas’ fiscal peril, a reform advocate warned yesterday, adding that another Matthew-type hit could produce a 115-120 per cent debt-to-GDP ratio.
‘Flagship’ job centre to replace Clarence Bain
The Government is planning to demolish the Clarence A. Bain Building and replace it with a “flagship one-stop shop centre” for assisting employment seekers, in a bid to improve its 2 per cent job placement success rate.
Blackbeard’s QC: ‘Don’t make 100 more unemployed’
The developer behind the controversial $12 million Blackbeard’s Cay project will appeal its latest legal reversal to the Privy Council, its attorney yesterday warning opponents against making another 100 Bahamian unemployed “in this climate”.
Gov’t ‘surprised’ by Renew withdrawal
A Cabinet Minister yesterday admitted the Government had been “surprised” by Renew Bahamas’ decision to suspend its management of the New Providence landfill, with no decision made yet on whether the company will return.
National lottery ‘must be looked at’ post-Matthew
The Minister of Tourism yesterday acknowledged that debate over a National Lottery would be reignited following the $600 million in damage created by Hurricane Matthew, adding that $3 million was already available to assist from the web shops.
Capital outlook for the markets
This article was first published in The Bahamas Investor and thebahamasinvestor.com. Reproduced with permission Etienne Dupuch Jr Publications.
Chamber chief seeking post-storm ‘quid pro quo’
Bahamian businesses were yesterday urged to make their product offerings “as attractive as possible” by fully exploiting the post-Matthew exigency Order, thus “compelling” consumers to shop at home.
No Caribbean disaster insurance for Bahamas
The Bahamas would not have received any Hurricane Matthew relief from a Caribbean disaster insurance fund because the storm was not strong enough to trigger a payout, the Government revealed yesterday.
Shootings, tyre slashing and theft break landfill
Renew Bahamas yesterday confirmed it has “suspended its services” as the New Providence landfill manager, after shootings, tyre slashings and widespread theft in Hurricane Matthew’s aftermath made operating conditions unsafe.
Container Port hit causes cargo delay for Nassau
Mediterranean Shipping Company (MSC) is moving rapidly to resolve a cargo backlog caused by hurricane damage at the Freeport Container Port, which is impacting the timely delivery of freight to Nassau and other global destinations.
Gov’t faces total $800m storm bill
The Government is facing a combined $800million bill from Hurricanes Joaquin and Matthew combined, Prime Minister Perry Christie told Parliament yesterday.
Gov’t told: Forget about pre-election economy ‘juicing’
The Government was yesterday urged to forget about “juicing the economy” prior to the upcoming general election, an outspoken businessman urging it to largely finance hurricane relief from its existing Budget.
‘Major rethink’ urged over electricity grid and Building Code
The Bahamas needs to have “a major rethink” over its electricity infrastructure and coastal/Family Island building codes following Hurricane Matthew’s devastation, a leading insurance executive said yesterday.
Commercial banks to acquire 80 per cent of restoration bond
Some 80 per cent or $120 million of the Government’s Hurricane Restoration Bond will be raised from the commercial banks, the Government yesterday confirming the offering’s multi-tiered nature.
Hurricane bond: 60-70% to repair government assets
A Cabinet minister yesterday acknowledged that the Christie administration must now “revisit” its Budgetary revenue and spending forecasts in the wake of the devastation wrought by Hurricane Matthew.
