DPM: ‘Three credible offers’ for Lucayan
Three “credible offers” to acquire the Grand Lucayan resort are presently being studied, the deputy prime minister said yesterday, as he and others touted $1bn worth of investments being “in the pipeline” for Grand Bahama.
‘Air cargo hub’ ambition for GB’s $200m airport
The deputy prime minister yesterday unveiled a $200m Grand Bahama International Airport redevelopment that aims to ultimately transform the facility into an international “air cargo hub” for the Caribbean and Latin America.
Property value boost drives insurer’s 39% profit increase
A $3.2m gain from revaluing its property assets enabled Bahamas First to shrug off a decline in its core insurance underwriting business and post a 39 percent total comprehensive income increase for the 2022 full-year.
Port chief eyeing Abaco power cable connection
The Grand Bahama Port Authority’s (GBPA) president yesterday suggested running an electricity cable between his island and Abaco as a way to “stabilise” electricity costs and bring rates down.
$200m airport deal means GB ‘not dead in the water’
A prominent Freeport attorney yesterday hailed the “lifeline” provided by Grand Bahama airport’s imminent $200m redevelopment, saying: “We’d be doubly dead in the water without it.”
IAN FERGUSON: Navigating through five life cycle stages
Every new micro and small business that grows into a medium-sized enterprise goes through five stages of evolution. These phases include existence, survival, success, take-off and resource maturity. All stages of small business growth come with challenges that every company has to overcome.
Atlantis, cruise port: ‘Room’ for PI lighthouse restoration
Atlantis and the Nassau Cruise Port both say there is “room” for a restored Paradise Island lighthouse to provide an “iconic” visitor experience and boost New Providence’s status as a tourism destination.
Kwasi Thompson: IMF holds ‘serious concern’ on fiscal reforms
The Opposition’s finance spokesman yesterday asserted that the International Monetary Fund (IMF) had voiced “serious concerns” over legal reforms that seemingly reduce the Fiscal Responsibility Council’s (FRC) independence.
Gov’ts Central Bank debt soars 85% on IMF SDRs
The Government’s controversial borrowing of IMF special drawing rights (SDRs) reversed five years of decline by causing its net debt to the Central Bank to soar by 85.4 percent to $805.6m.
New Procurement Act to end large firm ‘dominance’
The Prime Minister yesterday said the Government’s digital procurement platform has generated $2.6m savings in just four months since its launch as he slammed his predecessors for giving large firms “dominance” in contract awards.
Sir Franklyn: Gas woe ‘won’t cripple country’
FOCOL’s chairman yesterday said he was “very confident a solution will be found” to the Bahamian petroleum industry’s financial woes, and added: “This will not be fatal to the country.”
PM: Halting gov’t waste remains ‘a high priority’
THE PRIME Minister yesterday pledged that eliminating waste of taxpayer monies is a “high priority” while blasting legislation passed under the former Minnis administration as “unworkable”.
‘Compelling reasons’ absent over public finance reforms
THE OPPOSITION’S finance spokesman yesterday urged the Davis administration to provide more “compelling reasons” to justify reforming the Public Financial Management Act 2021.
PM says PI’s lighthouse developer must reapply
The Bahamian entrepreneur seeking to invest $2m to restore Paradise Island’s lighthouse was yesterday invited by the Prime Minister to reapply for government approval of his project.
Gas station operator’s relief faith ‘now 120%’
A gas station operator yesterday said his faith was now “120 percent” restored over the Government’s intention to provide relief for the sector’s plight following Monday’s meeting with the Prime Minister.
