Govt to 'enforce' Bahamian understudy for expat hires
A Cabinet minister yesterday confirmed the Government will now “enforce” requirements for employers to identify a Bahamian understudy before labour certificates permitting the hiring of expatriate workers are approved.
Aviation chief: 'Put money where mouth is' on climate
The Bahamas' aviation director highlighted this nation's drive to construct climate resilient and environmentally-sustainable airports during a recent Caribbean infrastructure summit.
Total visitor arrivals up 30% though stopovers still trail
The Ministry of Tourism's top official yesterday said total visitor arrivals to The Bahamas are 30 percent ahead of their pre-COVID record through to end-July although stopover visitors are still trailing slightly.
RBC chief pledges company account opening upgrades
Royal Bank of Canada's (RBC) top Bahamas executive yesterday pledged to address the challenges encountered by Family Island business clients when it comes to opening corporate bank accounts.
BPL: 8% 'crazy growth' in New Providence
A senior Bahamas Power & Light (BPL) executive yesterday said the utility had seen "crazy growth" in customer demand over the summer with New Providence's peak load increasing by 8 percent year-over-year.
Pintard to PM: Probe Gov't 'late payments'
The Opposition's leader last night called for the Prime Minister to investigate as he doubled down on accusations that public servants, government contractors/vendors and the Family Islands are suffering "out of the ordinary" payment delays.
Bahamian battles FTX chief on $28m aircraft
A BAHAMIAN aviation entrepreneur yesterday launched legal action against FTX’s US chief to safeguard his ownership interest in two aircraft valued at a combined $28m
$35m invested by Baha Mar in maintenance
BAHA MAR president Graeme Davis said the resort has invested $35m in maintenance this year.
BPL: We’ve regained 56% of fuel cost ‘under-recovery’
Bahamas Power & Light (BPL) yesterday revealed it had regained 56 percent of its “under-recovered” fuel costs by end-August 2023 while reassuring that surging global oil prices will not derail this strategy.
‘Structural vulnerabilities’ weigh on robust growth
Standard & Poor’s (S&P) yesterday forecast Bahamian economic growth for 2024 will fall back to historical trends at 1.8 percent as it warned that such levels, together with “structural vulnerabilities”, weigh on improved credit ratings.
S&P: Austerity ‘likely’ to meet Gov’t debt targets
Standard & Poor’s (S&P) last night argued that the Government will likely struggle to meet its debt reduction targets “without material new revenues, significant cost-cutting or well above average economic growth”.
SUPER VALUE CHIEF: FOOD COST UP 30% – Roberts reveals assessment of 15 common items
Super Value’s principal yesterday said a review of 15 commonly-bought items revealed The Bahamas sustained food inflation of around 30 percent over the past two years, adding: “The customers are re-training us.”
ArawakX issuers await funds, investor listing
Two companies that raised equity capital through the embattled ArawakX crowd-funding platform yesterday complained that they are either still owed money or have yet to learn who their new shareholders are.
ArawakX dismissed top investor as ‘over his head with Fintech’
ArawakX’s chairman dismissed the company’s largest investor as someone who “can’t use a computer” and was “over his head on Fintech” after he turned whistleblower over its financial, governance and regulatory concerns.
$657k ‘pipeline’ blockage kept ArawakX insolvent
The Bahamas’ first-ever crowd-funding platform was branded “no longer solvent at February 2023” by external auditors who warned that $656,500 in “pipeline” revenue could not be used to restore a “net equity” position.
