IMF: Bahamians need more protection from bank failure
Bahamian depositors have inadequate protection against “the failure of the largest credit union or any medium-sized bank”, the IMF is warning, as it urged that coverage more than double in percentage terms to $120m.
DPM targeting ‘best year in Bahamas history’ on tourism
The deputy prime minister yesterday predicted that “barring an act of God” this nation can look forward to the “best year ever in the history of The Bahamas” with tourist arrivals 30 percent up on pre-COVID highs.
‘Flabbergasted’ at Royal Caribbean’s PI approval
A Bahamian environmental advocate yesterday said she was “flabbergasted” that Royal Caribbean’s Paradise Island project has been given the go-ahead, adding: “I don’t understand how they think they’re going to pull it off.”
Central Bank advancing financial crisis ‘playbook’
The Central Bank’s governor yesterday asserted The Bahamas “is advancing efforts” to guard against a domestic financial crisis with the authority set to oversee these efforts potentially formed “within the next six months”.
$110m marina project chooses sales partner
A $110m southern New Providence marina development has selected Bahamas Property Group (BPG) as its exclusive real estate sales and marketing partner.
Royal Caribbean: Don’t hold us to higher standard than Atlantis
Royal Caribbean asserts it would be “highly inappropriate” to hold it to a higher standard than Atlantis and other developers with its Bahamian head optimistic there will be no “conflict” with the Paradise Island mega resort.
More downtown property owners eye demolitions
The deputy prime minister yesterday said more owners of derelict downtown Nassau properties have been approaching the Government since demolitions began to inquire if their buildings can be taken down too.
EY Bahamas announces new Bahamian CPAs
EY Bahamas yesterday announced that two young Bahamian employees, Crispin Hanna and Justin Campbell, have earned their Certified Public Accountant (CPA) designations.
Boat registration hikes are 'too big of a jump'
Abaco marina operators and vessel owners say the hike in boat registration fees is causing confusion and is simply "too big of a jump" that many will struggle to pay.
School roof failure exposes Contractors Board absence
The Bahamian Contractors Association's (BCA) president yesterday said the recent collapse of roof trusses at R. M. Bailey senior high school again exposes why the Government should “expeditiously appoint” the Contractors Board.
Shipping costs rise 40% for new price pressures
Bahamian consumers and businesses were yesterday warned that local goods prices will be unable to escape the fall-out from a 40 per cent increase in shipping costs over the the past three months.
VAT to under-shoot full-year $1.4bn goal
The Ministry of Finance’s top official yesterday conceded that VAT revenues were likely to under-shoot their 2022-2023 target but voiced confidence that tougher enforcement will keep them on track in the current fiscal year.
PI entrepreneur: ‘Could I have swift approval too?’
The Bahamian entrepreneur seeking to restore Paradise Island’s lighthouse yesterday voiced hope the Government will now approve his project - now in its 12th year of asking - with the same “swiftness” it has afforded Royal Caribbean.
Royal Caribbean: Can’t blame us for Bay St ‘decline’ reports
Royal Caribbean says Bay Street merchants have reported “a decline” in business volumes amid assertions it has “not sufficiently analysed” the economic impact from its $100m Paradise Island beach club project.
A weak dragon
ActivTrades
China's real estate giants are faltering. Evergrande has filed for bankruptcy protection and competitor Country Garden is on the verge of insolvency. To prevent panic, Beijing could intervene with billions of dollars in aid.
