Businessman: Gold Rock’s exit comes after expansion
A Bahamian businessman yesterday voiced surprise that Gold Rock and its principals have decided to exit Freeport after expanding the size of their business interests in recent years.
Broker’s lawsuit dismissal fails over Bahamas whistleblowers
A Bahamian broker/dealer’s principal, who once acted as FBI “bait”, has failed to dismiss a lawsuit by US federal regulators who he claims improperly obtained 44,000 pages of evidence from two locally-employed whistleblowers.
Brace for higher inflation as growth trimmed to 5%
The Central Bank’s governor yesterday trimmed forecast Bahamian economic growth for 2022 “to at least 5 percent” while warning that the cost of living crisis facing many families has yet “to peak”.
US: Bahamas campaign finance open to abuses
The US government has warned that election campaign financing in The Bahamas remains wide open to abuse that exposes this nation’s governance to “corruption and foreign influence”.
PM implores Gold Rock owners on Port dispute
The Prime Minister last night said he had implored Gold Rock’s owners to “spend every effort” to resolve their differences with the Grand Bahama Port Authority (GBPA) and its affiliates despite signs the impasse cannot be resolved.
Governor targets loan delinquency ‘under 5%’
The Central Bank’s governor yesterday said he is targeting a commercial bank loan delinquency rate of “less than 5 percent” as some institutions push for an easing of lending restrictions.
'Very small' US hike impact as national debt past $12bn
The Ministry of Finance's top official yesterday said last week's Federal Reserve rate hike had "a very small" impact on interest costs tied to the $2.317bn in foreign currency debt held by external investors.
GBPA: ‘Nothing but spite’ drives Gold Rock closures
A Freeport concrete supplier’s battle with the Grand Bahama Port Authority (GBPA) yesterday escalated into an all-out war as the two sides traded accusations of “spite” and “harassment” over the former’s imminent closure.
Super Value chief ‘thrilled’ at Ukraine supply restart
Super Value’s principal says he is “very thrilled” that Ukraine has begun to ship grain and related products again although it will be some months before Bahamian consumers see any food price benefits.
Contractor: Gold Rock exit is ‘good riddance’
A Grand Bahama contractor yesterday branded Gold Rock’s imminent exit as “good riddance” amid industry expectations that rivals will fill the concrete manufacturing void it creates “within three to six months”.
Happy investors, angry consumers
ActivTrades
While the population is carrying the burden of high electricity and gas prices, energy companies are reporting record profits and making their investors happy.
PM’s ‘intervention’ sought over 130 Gold Rock jobs
The Opposition’s leader yesterday voiced optimism that the Prime Minister’s “intervention” will prevent “a substantial blow” to Grand Bahama’s economy with up to 130 jobs threatened by the Gold Rock group’s closure.
Doctors enjoys up to 40% non-COVID revenue rise
Doctors Hospital plans to unveil its new Bay Street pharmacy within 30 days, a top executive revealed yesterday, with monthly non-COVID revenues up to 40 percent higher than pre-pandemic comparatives.
Banks told to build ‘stronger connection’ with non-profits
Bahamian non-profits need “a stronger relationship with the banks” if the sector is to grow and better meet society’s ever-increasing needs, a governance reformer argued yesterday.
Bahamas ‘nowhere near crisis’ despite new US recession fear
A prominent businessman yesterday sought to reassure that The Bahamas “is nowhere near crisis mode” despite mounting global economic gloom with suggestions that the US is now in an “unofficial recession”.
