Foreign reserves stay over $3bn despite May decline
The Bahamas’ foreign currency reserves closed May 2022 above $3bn despite a $65m drop-off during the month, with the Central Bank reiterating its belief that they remain “more than adequate” to sustain the US dollar peg.
Collateral Registry hailed as a ‘tremendous move’
The Central Bank’s plan to boost small business access to financing by creating a movable Collateral Registry was yesterday hailed as “a tremendous step in the right direction” provided it is accompanied by the necessary training.
Air arrivals hit 85% of pre-COVID levels
Total air arrivals to The Bahamas rebounded to 85 percent of pre-COVID numbers during April, more than doubling prior year numbers for a period that included the peak Easter holiday weekend.
‘Demystify’ Bahamas treasure recoveries
A US attorney who represents Spain in its claims to underwater treasure and artifacts yesterday urged The Bahamas to demystify what has been recovered from its waters and how much it has earned from such activities.
Small firms sceptical on mobile collateral registry
Small business owners yesterday voiced scepticism over the Central Bank’s plans to transform secured lending in The Bahamas by creating a movable collateral registry, arguing that efforts to aid the sector should be focused elsewhere.
‘No Bahamas slowdown’ from crypto winter freeze
The Bahamas’ top digital assets regulator says there has been no slowdown in applications to do business from this jurisdiction despite the collapse in global cryptocurrency valuations, and is predicting that interest will only increase.
Retailers: We wanted ‘broader’ Budget cuts
Bahamian retailers have been left disappointed by Budget tariff cuts that were “not as broad-reaching as we’d have liked”, adding: “Ten percent of something is better than 45 percent of nothing.”
Collateral Registry to ease 231% loan security burden
The Central Bank has unveiled plans for an Internet-based collateral registry that will ease Bahamian small business access to funding in a market where the security demanded is often more than three times’ the loan amount.
Contradictory Futures
ActivTrades
On the futures markets, metal prices have recently fallen sharply. This is not an all-clear for inflation, because if you look at longer-term price development, the problem becomes more than clear.
Gov’t turns down Ginn bid and plan
The Government has rejected a bid to acquire the former Ginn sur mer project, which planned to construct a 28-storey “iconic tower” modelled on Alexandria’s ancient lighthouse, in its present form.
Minimum wage rise better than nothing
Considering the Government’s stated intention to increase the minimum wage from its present $210 to $250 per week, as per its general election manifesto, this article will explore what such a raise would mean for the economy, workers and employers.
Making ethics more than paper pledge
In today’s business environment, brands must deliver first-class services in an agile and flexible manner that is relevant to all consumer demographics, regardless of the threat of disruptions.
DPM unveils ‘authentic product incubation’ plan
The deputy prime minister has unveiled plans to create a “Bahamian product incubation centre” for downtown Nassau by year-end in a bid to address the “shockingly” low number of entrepreneurs selling local, authentic product.
Bahamas to tackle corporate tax demands ‘in near future’
A Cabinet minister has pledged that The Bahamas will address demands for a 15 percent minimum global corporate tax and greater transparency “in the near future”.
Insurers ‘totally in blind’ on Budget tax changes
Bahamian insurers yesterday said they are “totally in the blind” as to how Budget tax reforms will work with “time having run out” to make any adjustments due to the new fiscal year beginning today.
