Tourism’s ‘perfect storm’ closing on pre-COVID
Bahamian tourism was yesterday said to be enjoying “the perfect storm” via a record booking pace that will see it exceed pre-COVID business levels by 2023 at latest, with one hotelier saying: “I think we’re back.”
Ex-minister: Bahamas not facing a recession
A FORMER Cabinet minister yesterday said that while The Bahamas’ economic growth is slowing from last year’s post-COVID rebound it is not headed for a recession.
Dorian blocks $300,000 unpaid water bill cut-off
A Freeport condominium complex has successfully prevented its water and sewerage services from being cut-off over an unpaid $300,000 bill due to concerns over post-Hurricane Dorian supply quality.
Bahamasair’s staff pension flies into trustee turbulence
Bahamasair’s employee pension fund has flown into turbulence due to a dispute that has equally divided the trustees responsible for its management and administration.
Smaller stores ‘lead way’ on price control response
Small, inner-city and Family Island food stores were yesterday said to be “leading the way” as the industry works “feverishly” to supply the Government with an alternative to the massive price control expansion by this Friday.
Legal action threat in Old Fort Bay row
The deepening divide at one of western New Providence’s most upscale gated communities is set to trigger legal action as early as today amid concerns over new construction and earlier alleged “rogue actions”.
DEREK SMITH: Countering the security risk from mobile phones
The mobile phone has become a necessity in today’s workplace. It has become common practice for companies to allow employees access to company e-mails, read, review and respond to critical company files, and even attend video conferences via their personal devices.
Petroleum dealer says price controls ‘a thing of the past’
A PROMINENT petroleum dealer has called on The Bahamas to eliminate price controls, describing them as “a thing of the past”.
Water Corp supplier in ‘tremendous’ costs rise
THE Water & Sewerage Corporation’s main supplier says the cost of operating its two New Providence reverse osmosis plants has increased “tremendously” over the past year due to the rise in global oil prices.
Rise and fall
ActivTrades
It has been a few busy weeks in the Forex (foreign exchange) markets. On Thursday, the reaction of the markets was unequivocal, and we saw a certain ruthlessness when UK prime minister, Liz Truss, had barely announced her resignation before the pound sterling was appreciating again. The 30-year UK government bond yield fell nine basis points, which means investors are now viewing those securities as less risky once again.
‘Future generations will say we did no favours’
COVID has worsened The Bahamas’ looming savings and retirement crisis, a pensions specialist warned yesterday, adding: “Future generations will say we did them no favours.”
DPM touts $1.2bn in Exuma investments
The deputy prime minister yesterday asserted that the Davis administration has approved $1.2bn in investment projects “for Exuma alone” in the year since it was elected as he touted a variety of resort developments.
Exuma’s growth ‘severely outstrips our infrastructure’
The deputy prime minister yesterday admitted Exuma’s growth has “severely outstripped the capacity of our infrastructure” with tourist arrivals 22 percent ahead of 2019’s record-breaking levels through to end-August 2022.
Bahamasair now exploring Barbados, Antigua routes
Bahamasair is aiming to add at least one new aircraft to its fleet every year through 2025, a senior executive revealed yesterday, with ambitions to expand its routes to more Caribbean territories.
Minister: 25% food import cut ‘ambitious aspiration’
A Cabinet minister yesterday admitted that slashing The Bahamas food import bill by 25 percent come 2025 is “an ambitious aspiration” but one that the country must strive for given its present challenges.
