Electric car dealer eyes eventual IPO
A Bahamian electric car dealer will likely seek to go public within the next five to seven years if planned expansion targets are hit, its new 35 percent minority shareholder revealed yesterday.
‘Serious predicament’ with low lobster price
Family Island fishermen were yesterday said to be facing a “serious predicament” with margins squeezed by low lobster prices and high fuel costs.
Health premiums drop $15m on COVID travel cover end
Bahamian health insurers suffered a near-$15m year-over-year decline in group premiums last year due to the Government ending COVID-19 protection plan for visitors.
Deidre Bastian: ‘Bad bosses’ not sole factor driving employee departures
We have all heard the phrase “employees leave bad bosses, not companies”. Well, it does hold some truth. In fact, research has shown that 57 percent of employees leave their jobs mainly because of their boss.
Abaco Chamber pressing for abandoned building tear down
Abaco’s Chamber of Commerce president yesterday warned that the business advocacy group will press the Government to tear down Dorian-devastated properties unless their owners demolish or renovate them first.
Debtors blame inflation and taxes for repayment struggle
Soaring living costs and higher taxes are increasingly being blamed by struggling borrowers for why they cannot meet their obligations, debt collection agencies disclosed yesterday.
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.
