BISX-listed firm ‘qualified’ for second straight year
A BISX-listed company’s top executive yesterday moved to reassure shareholders after auditors issued a “qualified opinion” on its annual financial results for the second consecutive year over the same issue.
Electric vehicle dealer in new HQ expansion
A Bahamian electric vehicle dealer yesterday unveiled plans to expand to “a major location” and grow its workforce after becoming the first investment for RF Bank & Trust’s newly-launched private equity fund.
‘No issues’ over Govt’s $3.5bn debt refinance
The Ministry of Finance’s top official yesterday reassured there are “no issues” over the Government’s ability to refinance some $3.466bn in debt maturing this fiscal year given its access to “credit lines”.
Inflation’s high but ‘not as frightening’
Inflation “may not be as frightening as it was a year to 18 months ago”, a governance reformer argued yesterday, despite food and beverage costs rising by almost 13 percent during the year to April 2023.
‘Major progress’ on one insurance law
Regulators say “significant progress” has been made in combining the Bahamian insurance industry’s regulatory regime into one law after the sector saw gross written premiums increase by $60m in 2022.
Bahamas hosts electric golf cart assembly plant
An electric golf cart provider says The Bahamas now hosts the "first full-fledged plant outside the US" where the vehicles are assembled.
Gov’t confirms three-week ‘Back to School’ VAT relief
Government officials yesterday confirmed that the three-week Back to School 'VAT-free holiday' will run from August 19 to September 10 after merchants called for clarity on the dates.
‘Noble objective’: Aviation in annual 15% stopover growth
The Government’s ambition to increase stopover tourist arrivals “by a minimum” 15 percent per annum via the National Aviation Strategic Plan was yesterday hailed as “a noble objective” by sector participants.
Governor trims Bahamas GDP growth to ‘3% range’
The Central Bank’s governor yesterday again trimmed his 2023 economic growth forecast to “the 3 percent range” as he warned The Bahamas is poised to next year “resettle” back into low expansion rates.
Central Bank reviews $250m investment currency reforms
The Central Bank’s governor yesterday foreshadowed reforms to protect Bahamian retail investors from potential “headwinds” in an overseas investments market that is this year on track to exceed 2022’s $250m outflow.
More hotel rooms key to beyond COVID recovery
The Bahamas must increase its supply of hotel rooms and cruise passenger spending to maintain tourism’s growth pace beyond 2023 with industry earnings now “more than recovered” from COVID’s devastation.
Soaring BPL costs delay inflation ease
Bahamians will have to wait for Bahamas Power & Light’s (BPL) soaring energy bills to ease before “the moderation of inflation starts to look more like” other countries, the Central Bank’s governor warned yesterday.
Fidelity targets $80m loan delinquents for bankruptcy
Fidelity Bank (Bahamas) will “aggressively” pursue delinquent borrowers responsible for $80m in collective consumer loan write-offs via personal bankruptcy judgments, asset seizures and taking liens over their wages.
‘Beyond dispute’: But marinas demand proof
The Ministry of Finance’s top official yesterday asserted it was “beyond dispute” that boating fees due to the Government had not been paid amid demands from the marina industry to “show us the evidence”.
Minnis: BPL chief says we’re right over Wartsila
Dr Hubert Minnis says Bahamas Power & Light’s (BPL) chief executive has vindicated his administration’s $90m Wartsila investment as he queried whether the utility is increasingly reliant on rental generation once again.
