BOB shedding ‘haunted’ past with 20% growth goal for ‘23
Bank of The Bahamas top executive yesterday asserted it is moving beyond the bail-outs that “will forever haunt” the institution with predictions it will grow this year’s forecast $7m profit by a further 20 percent in 2023.
Shed tax haven label for digital assets win
The Bahamas will lose its position as a digital assets leader and the potential economic “upswing” if it fails to shed its ‘tax haven’ label, a Bahamian financial services provider warned yesterday.
Gov’ts ‘flat-out concealing’ millions in contract awards
The Opposition’s leader yesterday hit back at the Davis administration for “flat-out concealing” millions of dollars in contracts it has concluded since taking office by failing to comply with the Public Procurement Act.
Water & Sewerage supplier eyes expansion despite $18.5m debt
The Water & Sewerage Corporation’s main supplier is eyeing potential expansion possibilities on New Providence notwithstanding the $18.5m debt that the state-owned utility continues to owe it.
Kalik maker: Product shortages ‘inevitable’
Kalik’s manufacturer has continued to warn that product shortages and price hikes are “inevitable” due to continued supply chain disruptions post-COVID despite generating $1.3min profits for the 2022 first quarter.
HUBERT EDWARDS: The low growth, high debt trap
In the first article we assessed some of the consequences from a high, and growing, national debt. With The Bahamas’ debt-to-GDP ratio expected to remain above 80 percent over the mid-term at least, the question that dominates is the extent to which this is sustainable.
Gov’t in Potter’s Cay fire station plan
A Cabinet minister yesterday said the Government is exploring the construction of a fire station at Potter’s Cay following the devastating blaze that destroyed six vendors’ stalls last year.
Airlift top priority for South Andros
The South Andros Chamber of Commerce president yesterday said improving airlift to the island remains the highest priority for its economy.
Fraudsters plunder $2m through bank’s blunder
A Bahamian financial institution’s “serious error and negligence” resulted in fraudsters plundering more than $2m from one of its client’s accounts, the Supreme Court has revealed.
PM renews assault on COVID food initiative
The Prime Minister yesterday renewed his assault on “astounding” deficiencies with the COVID-19 food assistance initiative even though a 138-page audit report produced no evidence of corruption, fraud or misappropriation of funds.
‘They wanted Gov’t to buy the Grand Lucayan twice’
The Grand Lucayan’s ex-chairman yesterday said the Government would “effectively have been buying the hotel a second time” had it agreed to Royal Caribbean and ITM Group’s demand it finance 95 percent of the $50m purchase price.
Food Task Force urgency may have hurt efficiency
The speed and urgency with which the COVID-19 Food Distribution Task Force had to be created will likely mean some elements were not executed “in the most efficient or effective way”, a governance reformer argued yesterday.
‘Lord knows’ Freeport requires tourism scale
An ex-tourism minister yesterday voiced optimism that the Grand Lucayan’s sale will be the “catalyst” that builds scale by luring other resort developers to Freeport, adding: “Lord knows Grand Bahama needs it.”
What Next for Cryptos?
ActivTrades
As the era of cheap money comes to an end, so do the conditions that propelled the price of Bitcoin and other crypto assets to the dizzying highs reached at the end of last year. At the time of writing, Bitcoin was trading just above $27,000, a drop of more than 60 percent from all-time maximum of almost $69,000 touched last November.
Potter’s Cay vendors: We need $48k for deck pilings
Six fire-ravaged Potter’s Cay vendors still need the extra $48,000 previously set aside for waterside pilings so they can reconstruct their decks, their Association president said yesterday.
