BISX fund eyeing up to $10m warehouse raise
A BISX-listed real estate yesterday said it plans to raise up to $10m within the next six months to finance development of its Carmichael Road warehouse after profits near-doubled during the 2023 first-half.
UN specialist warns on storm debt cycle
A United Nations (UN) foreign debt specialist yesterday disclosed that The Bahamas is still paying off borrowings related to three post-hurricane restorations with the country facing “almost unbelievable pressure” from climate change.
Gov’t spending reform is ‘absolute necessity’
The Opposition yesterday branded reform of government spending as an “absolute necessity” as it argued that the $804.5m increase in total expenditure compared to pre-COVID levels is “possibly unsustainable”.
Sebas teams with University of The Bahamas to solve ‘dire need’ for skills
Island Luck’s co-founder yesterday teamed with the University of The Bahamas to launch the ‘Smarter Bahamas’ initiative that aims to solve the “dire need” for enhanced technology skills among local workers.
Gov’t told: Avoid ‘piecemeal approach’ over tax reforms
The Opposition’s leader yesterday urged the Government to avoid “a piecemeal approach” to reform in the FNM’s response to the corporate income tax proposal, warning: “We have a very small margin for error.”
Sebas in ‘tax-free zip code’ Aeropost plan
Island Luck's co-founder yesterday said his Aeropost e-commerce platform will differentiate itself from rivals by adding freight-forwarding capabilities that employ a "tax-free zip code" to offer clients better rates.
Atlantis hits pre-COVID cash flows with $182m
Atlantis has “stabilised” its net cash flow at pre-COVID levels by generating $182.3m for the year to end-March 2023, it was revealed yesterday, as analysts reaffirmed the credit ratings on its $1.2bn debt.
$30m investment set to aid 25,000 Bahamians
Some 25,000 Bahamians and 150 small and medium-sized enterprises (SMEs) are projected to benefit from a $30m investment to unlock the country’s ‘blue economy’ potential and enhance coastal protection.
AML: ‘Smaller’ stores are path to the future
AML Foods has signalled it paid $1.1m to acquire the future site of its Solomon’s Carmichael store and associated shopping centre as it revealed that “smaller footprint locations” will be its future format.
Commercial driver licence training raising concerns
Concerns were voiced yesterday over Abaconians and other Family Island residents incurring extra cost and inconvenience through having to fly to Nassau or Freeport for commercial vehicle driver training.
Bahamian insurer shrugs off ‘profitability pressures’
A Bahamian general insurer yesterday saw its financial strength and creditworthiness reaffirmed by the industry’s major rating agency in the face of “profitability pressures”.
Senator’s financing ‘push’ over downtown authority
A government senator yesterday pledged he will “push” to ensure any authority created to manage downtown Nassau has access to the necessary funding.
Poultry farm targets next month for $45k hatchery
An Abaco poultry farm yesterday said its $45,000 hatchery will be completed by the end of September 2023.
‘Get fiscal house in order’ before $2.3bn debt repay
The Government has a narrow window to “get its fiscal house in order” and refinance $2.36bn in external bonds maturing over an eight-year period without challenges, a governance reformer warned yesterday.
Gov’t ‘doesn’t compare’ to GBPA upkeep record
The Government “cannot compare” to the Grand Bahama Port Authority’s (GBPA) record in maintaining Freeport because much of the infrastructure it is responsible for on the island is in “disrepair”, a licensee argued yesterday.
