Moody’s alarm over Bahamas’ ‘rapid debt accumulation’
The Government was yesterday told to rein in its spending during the remaining months of the 2015-2016 fiscal year, with an international rating agency expressing concern about the Bahamas’ “persistent rapid debt accumulation”.
Bahamas locked into low growth by ‘rigidities’
The Bahamas will remain locked into low 1-1.5 per cent economic growth rates unless the Government tackles “several structural rigidities” such as high energy costs, Moody’s warned yesterday.
‘Whole new’ standards regime for the Bahamas
The declaration of three approved national standards marks the beginning of “a whole new regime” for the Bahamas, a Cabinet Minister said yesterday, adding that it was another step towards full World Trade Organsiation (WTO) membership accession.
Contractors ‘sold out’ on Pointe labour deal
The Government was yesterday accused of “selling out the Bahamian construction industry” over the workforce deal it struck with The Pointe’s Chinese developer.
Bahamas banker loses $200k over real estate fraud
A well-known Bahamian banker is alleging that he has been personally defrauded of $200,000 over a Chinese real estate investment.
Bahamasair in 34% loss slash
Despite slashing losses by almost 34 per cent for its 2014 financial year, Bahamasair’s best-performing international route is set to take a major hit from the new US opening with Cuba.
Never again: New insurance structure eyed for Out Islands
Exploratory talks are being held to develop an insurance structure that will provide at least partial cover for Family Island businesses against another Joaquin-type storm.
Joaquin requests up to 25 times Rebuild’s limit
The Rebuild Bahamas hurricane relief fund has received funding applications up to 25 times’ greater than the maximum it can provide per business, Tribune Business has been told.
Disclose Carnival return forecasts, says Turnquest
The Government was yesterday urged to give Bahamians “a ‘reasonable expectation” of what this year’s Junkanoo Carnival will generate in terms of investment returns.
‘Ween off’ FDI reliance to escape external shocks
The Bahamas will continue to remain vulnerable to external shocks unless it reduces its over-dependence on foreign direct investment (FDI), the Opposition’s finance spokesman said yesterday.
BREA chief slams 20% ‘surge’ as inaccurate
A furious Bahamas Real Estate Association (BREA) president yesterday slammed the “member” responsible for leaking inaccurate data suggesting market sales volumes rose 20 per cent in 2015, when they actually dropped almost 10 per cent.
Gov’t urged: Set end-June deadline for Baha Mar sale
The Government was yesterday urged to set an end-June 2016 deadline for Baha Mar’s auction to start, an ex-director for the project describing himself as “amazed” at the subsequent deal granted to its main contractor.
Full web shop licences ‘three months away’
A Cabinet Minister said yesterday that ‘plenary’ or absolute web shop operator licences are “about three months away” from being granted, although concerns remain over ongoing legal disputes and how they might affect the process.
Pointe work permits making Bahamians ‘second rate citizens’
The 500 work permits granted to The Pointe’s Chinese developer were yesterday branded “a slap in the face” of unemployed construction workers, and a sign Bahamians “are second class citizens in the own country”.
Gov’t ‘failed to protect’ Cabbage Beach vendors
The Government was yesterday accused of failing to safeguard the interests of Cabbage Beach vendors during the One & Only Ocean Club sale, which included the ‘beach access’ route at the centre of the controversy.
