PM unveils $500m climate finance plan
The Prime Minister yesterday unveiled ambitions for The Bahamas to raise $500m to bolster its resiliency, and sustainability, against negative climate change impacts in partnership with Resilience Capital Ventures.
‘Room for improvement’: Trade deficit expands 28% to $1.09bn
The Bahamas Trade Commission’s chairman yesterday said “there’s a lot of room for improvement” after this nation’s trade deficit expanded by almost $184m or 28 percent year-over-year to hit $847m in the 2023 second quarter.
ArawakX hit by claim of ‘criminal infraction’
The Bahamas’ first-ever crowd-funding platform has a solvency deficiency of “at least $2.4m”, regulators charged yesterday, while accusing it of “governance irregularities, regulatory breaches and possible criminal infractions”.
Doctors secures $25m as it ‘refines’ equity offering
Doctors Hospital has secured $25m from Royal Bank of Canada (RBC) to finance its continued expansion as it works to “refine” its upcoming equity capital raise by “prioritising” three target investor groups.
PM sounds alarm on EU blacklist's insurance hit
The Prime Minister has joined insurers in sounding the alarm that remittances from European reinsurers on could be "reduced by at least 25 percent" if The Bahamas remains on the continent's tax blacklist.
ArawakX’s fate now in Supreme Court hands
The Supreme Court will hear arguments from all sides on October 13 as to whether The Bahamas’ first-ever crowd funding platform should be wound-up due to regulatory concerns about its solvency and operations.
‘Very credible’ Freeport city manager emerges
A “very credible” candidate to take over Freeport’s management is said to have met with both government and Grand Bahama Port Authority (GBPA) ownership as the idea of the latter devolving its quasi-governmental powers gains traction.
RODERICK SIMMS: Foresight needed to drive growth via global business
Fostering economic growth is of utmost importance for an island nation such as The Bahamas if it is to secure a prosperous and sustainable future. One highly effective strategy to achieve this goal is giving priority to growing the international economy. While we previously discussed the significance of growing the local economy, it is essential to recognise that the easiest way to stimulate economic growth in the local economy is by first fostering growth in its international equivalent.
Flight simulator business can restart after 4-year Pointe bar
A former tenant at The Pointe should be permitted to “reinvigorate” its business, a Supreme Court justice has ruled, after it was barred by the landlord from accessing vital equipment for almost four years.
Union: ‘Everything on table’ over BPL woes
The Bahamas Electrical Workers Union’s (BEWU) president says “everything is on the table” in resolving its members’ grievances with Bahamas Power & Light (BPL) after all requirements for taking strike action were met.
AG to lead speakers at financial summit
The Nassau Conference, the annual professional development summit for the Bahamian international financial services sector, has announced this year's version will be held on Thursday, September 28, at Baha Mar.
A new era of big government spending: Reshaping the American economy amid geopolitical uncertainty
ActivTrades
Over the past two years, the US has witnessed a profound shift in economic policy, marking the dawn of a new era of big government spending. This transformation is driven by a combination of factors, including President Joe Biden’s ambitious initiatives, such as the Inflation Reduction Act and the CHIP Act, which are reminiscent of the largest government spending sprees of the 1930s. These initiatives not only aim to reboot the US economy but also set a precedent for the world to follow.
‘Instant payback’: Doctors in revenue doubling to $120m
Doctors Hospital yesterday predicted it will “double” total pre-COVID revenues to around $120m during its current financial year after enjoying “instant payback” on $6.6m in healthcare investments.
National debt up $458m despite ratios declining
The post-COVID economic revival dropped The Bahamas’ debt-to-GDP ratio to 85 percent at end-June despite the national debt increasing by $457.5m over the prior 12 months to $11.645bn.
Pintard: URCA must explain BPL 163% fuel hike approval
The Opposition’s leader yesterday renewed calls for regulators to explain why Bahamas Power & Light (BPL) had “made the case” for an up to 163 percent hike in its fuel charge amid concerns they failed in their duty to protect consumers.
