Minister: ‘Nothing wrong’ with the Bahamas’ bonds
A Cabinet minister yesterday asserted “there’s nothing wrong” with The Bahamas’ economic and fiscal standing even though its long-term sovereign debt is trading at greater than 40 percent discounts with yields at 18-19 percent.
Bran: Medicine price controls are ‘back door’ VAT admission
The Democratic National Alliance’s (DNA) ex-leader yesterday slammed the imposition of price controls on the pharmaceutical industry as a “back door” admission by the Government that reimposing VAT on medicines was a mistake.
FTX to hire more than 100 Bahamians for crypto work
The Bahamas’ digital assets flagship is pledging to hire more than 100 locals as crypto currency specialists among the 700-strong full-time workforce that will staff its $60m West Bay Street headquarters.
Trade deficit leaps 15.6% to $715.1m
THE Bahamas’ trade deficit increased by 15.6 percent to $715.097m during the 2022 first quarter as cross-border flows continued to rebound from the COVID-19 related restrictions of the year before.
Water Corp’s $66m subsidies from taxpayer ‘unsustainable’
THE WATER and Sewerage Corporation’s (WSC) fuel costs now account for 41 percent of its operating expenses, a Cabinet minister said yesterday, branding the $66m in taxpayer subsidies for the utility’s capital projects as unsustainable.
Grand Bahama Power ‘very advanced’ on 20MW solar installation
Grand Bahama Power Company is “at a very advanced stage” in formalising four separate projects that will collectively provide 20 Mega Watts (MW) of solar generation capacity for the island’s grid.
Small business: ‘We’ve come too far to close’
Bahamian small businesses have “come too far” to close down, a sector consultant asserted yesterday, even though many will likely restructure in early 2023 due to escalating cost pressures.
Bahamas ‘off track’ over foods quality
A senior agriculture official says Bahamians have “really gone off track” on food quality to such an extent that they are effectively “poisoning themselves” by eating inferior products.
Card spending rose 57% during COVID
Credit card spending in The Bahamas increased by 57 percent year-over-year during the peak of the COVID-19 pandemic as consumers transitioned to digital and online payments, a survey has disclosed.
Bahamas’ ‘rosy picture’ not making the grade
A top insurer was yesterday “hoping and praying” The Bahamas can reverse its continual downgrades despite the Government’s “rosy picture” of its fiscal and economic standing failing to convince the rating agencies.
Pharmacies to offer ‘relief’ alternative to price control
Bahamian pharmacists yesterday said they will offer the Government an alternative “economic relief” plan for consumers that does not resort to wholesale and retail price controls.
Businesses blast Grand Bahama Power fuel charge hike
GRAND Bahama Power Company’s (GBPC) impending fuel charge increase was yesterday branded “disgraceful” by one businessman although the move came as little surprise.
No sanctions over price control ‘death warrant’ execution
The Government last night backed down from imposing sanctions on food retailers and pharmacists who fail to enact the expanded price control regime - which one branded “a death warrant” - by today’s deadline.
The Bahamas’ top two life insurers downgraded
The Bahamas must “take concrete steps” to reverse the trend of sovereign credit rating downgrades after the country’s two largest life and health insurers saw their own financial strength assessments slashed as a result.
Union chief says: ‘Don’t encourage mediocrity’
A trade union leader says the labour movement “must not encourage mediocrity” in the workplace as he urged patience when over trying to achieve all goals in industrial negotiations.
