‘Move the needle’: IMF puts Bahamas growth back to 8%
The Bahamas is being urged to “significantly move the needle” on medium-term economic expansion even though the International Monetary Fund (IMF) yesterday raised this nation’s 2022 growth forecast back to 8 percent.
URCA promises ‘active review’ of BPL fuel hike
The energy regulator’s pledge that it has begun “an active review” of the up to 163 percent hike in Bahamas Power & Light’s (BPL) fuel charge was yesterday branded “critical” to its continued credibility.
PM in major price control expansion
The Prime Minister last night unveiled a major expansion of the price control regime to 38 extra foods, medicines and other essentials in a bid to combat soaring inflation that has “made life even more unaffordable” for many Bahamians.
Minimum wage rise ‘won’t end hardship’
The Prime Minister last night confirmed the private sector minimum wage will increase by 34 percent to $260 per week come January 2023 while admitting it “not eliminate the hardship of trying to make ends”.
‘Swimming against tide’ on $400k BPL bill hike
A local manufacturer is “swimming against the tide right now” with Bahamas Power & Light’s (BPL) fuel charge hikes set to increase its 2023 electricity bill by around $400,000 year-over-year to more than $1m.
‘We will pay the price’ until crime controlled
Tourism leaders are warning The Bahamas “we will pay the price” unless rising crime is brought under control while branding last week’s downgrade by the US as “a warning sign we must heed”.
Moody’s doubles down on ‘overly optimistic’ forecasts
Moody’s has doubled down on concerns that the Government’s Budget revenue forecasts are “overly optimistic” and that its debt servicing payments will be higher than projected due to the rise in global interest rates
BPL fuel hikes ‘slap in face’ for Family Islands
Family Island Chamber of Commerce heads have branded Bahamas Power & Light’s (BPL) fuel charge hikes “a slap in the face” as they now have to pay more for unreliable electricity supplies that frequently suffer outages.
BAMSI’s $7m investment targets 30% import slash
The Bahamas Agriculture and Marine Science Institute (BAMSI) is aiming to invest $7m in a series of “greenhouse parks” designed to cut imports of vegetable staples by 30 percent.
DEREK SMITH: Don’t ignore cyber threat to mobiles
As should be evident by now, cyber security must always be a top business priority and, in most cases, it should be the priority. Unfortunately, other cyber security efforts have often overshadowed security initiatives related to mobile devices.
Avalanche!
ActivTrades
The first warning of an avalanche usually comes from the noise it makes, as the mix of snow, rocks and other debris rolls down mountain slopes at speeds that can reach 30 kilometres per hour.
Bahamas ‘may never be ready’ for exchange control elimination
The Central Bank’s governor yesterday warned The Bahamas “may never be ready” for the total elimination of exchange controls, adding: “I’d like to get to the Indy 500 but some of us aren’t even on Carmichael Road.”
Atlantis: COVID rebound to ‘absorb’ BPL hit to $30m bill
A senior Atlantis executive yesterday voiced optimism that Bahamas Power & Light’s (BPL) massive fuel charge hikes will not slowdown the post-COVID tourism rebound “by itself” despite “the risk of eroding profits”.
Extend Dorian tax breaks so Abaco hits ‘full throttle’
Abaco’s business and civic leaders yesterday united to plead with the Davis administration for an up to two-year extension of the island’s Dorian tax breaks so it can come “back to full economic throttle”.
Banks must ‘clear runway’ on high loan delinquencies
The Central Bank’s governor yesterday agreed that commercial institutions must “focus on clearing the runway a lot more for new lending” by tackling loan delinquencies that exceed Caribbean and international norms.
