‘Free’ Sand Dollars to give currency lift
“Free” Sand Dollars will be issued to incentivise early adoption of a Central Bank-backed digital currency that remains “on the runway”, its governor said yesterday, despite a 305 percent circulation increase during 2021.
Seven-fold jump in Benchmark’s debt to clients no alarm
A BISX-listed firm has reassured investors that the seven-fold increase in monies owed to clients at year-end 2021 is no cause for alarm since it stems from $150m in securities trading activity.
Bahamas ‘leads pack’ over digital adoption
A senior Royal Bank of Canada (RBC) executive yesterday hailed The Bahamas as “a bit of a bellwether” for the Caribbean on digital payments adoption with more than 50 percent of its local clients now using such channels.
Gaining an edge via staff upgrades
Training and development in the workplace presents a prime opportunity to expand the knowledge base of all employees. However, many employers find this expensive, and view it as staff missing out on work time while attending training sessions, which may delay the completion of projects.
BAMSI greenhouses arrive in training boost
A Cabinet minister yesterday said the Bahamas Agricultural and Marine Science Institute (BAMSI) has received long-awaited greenhouses that will enhance training opportunities for students.
Brokers in concerns over customs software move
THE MINISTRY of Finance’s top official yesterday said Customs is merely seeking to ensure its systems are used properly amid concerns from small brokers about being forced to hire third-party software providers.
‘Increased criminality’ drove 6% suspect reporting growth
THE FINANCIAL Intelligence Unit (FIU) says the 5.7 percent increase in suspicious transaction (STR) and other reports received in 2021 was driven by “increased criminality” experienced during the COVID-19 pandemic.
‘Unprecedented’ 200% private aviation growth
The Bahamas must “step our game” to sustain “unprecedented” growth that has spurred a 200 percent increase in private aviation arrivals, a prominent industry player urged yesterday. Charles Bowe, general manager at Jet Nassau, the major fixed base operator (FBO) at Lynden Pindling International Airport (LPIA), told a webinar to mark World Tourism Day that this nation needs to ensure such visitors are “wowed” from the time they arrive in The Bahamas given that their per capita spending exceeds all other tourist categories.
Bahamas ‘must work with developers who love us’
The Bahamas “must work with developers who love us” and “disengage” with those motivated only by profits who have no interest in environmental preservation, tourism industry operators argued yesterday.
Downtown art district plan to put Miami, New York ‘second’
The Ministry of Tourism’s plans to transform downtown Nassau via creation of an “art district” will relegate similar spaces in New York and Miami to “second spot”, a senior official pledged yesterday.
AG: Minnis Gov’t ‘failed country’ on EU blacklist
The Attorney General yesterday blamed the Minnis administration’s “fundamentally flawed” approach to complying with the European Union’s (EU) economic substance demands for landing The Bahamas on the bloc’s blacklist.
'More productive Bahamas' if we get legal reforms right
Governance reformers yesterday argued that the Government's planned upgrades to anti-corruption, procurement and fiscal laws will set "a path to a more productive and sustainable Bahamas if we get it right".
Just two diseases cost taxpayer $35m
Just two diseases consume more than one out of every six dollars in the Government’s annual health budget, it was revealed yesterday, with its public clinics facing an “extraordinary requirement for improvement”.
COVID-19 controls ‘saved’ $900m external reserves
The Bahamas’ capital controls saved “around” $900m in external reserves at COVID’s peak, an economic researcher has estimated, while also helping to lower the Government’s annual interest burden by 2.5 percent of GDP.
Bahamas must decide if ‘to hell with’ the EU
The Bahamas must soon decide whether to tell the European Union (EU) “to hell with it” and refuse to be cowed by its repeated ‘blacklisting’ threats, an ex-Democratic National Alliance (DNA) leader argued yesterday.
