Ex-Grand Lucayan director backs aggressive sale push
A former Grand Lucayan director is backing the Government’s decision to set aggressive timeline for the resort’s sale, saying it would “be great” if the deputy prime minister achieves a signed sales agreement by end-April.
$450m to make Nassau a truly sustainable city
Transforming Nassau and wider New Providence into a truly resilient, sustainable island demands a $450m investment spread over a 20-year period, a newly-released Inter-American Development Bank (IDB) report has revealed.
‘Give us the facts’ on North Andros mining
The North Andros Chamber of Commerce’s president yesterday urged that the community “get all the facts” so it can make an informed decision on a multi-million aggregate mining project following a heated weekend Town Meeting.
Bahamas hotel rooms off 2,500 against pre-COVID
The Bahamas’ total resort room inventory has been slashed by 2,500 compared to 2019 levels, a top hotelier said yesterday, arguing that no indicator of industry performance should be viewed in isolation.
‘All-time high’ demand to offset tourism risks
The Bahamas Hotel and Tourism Association’s (BHTA) president yesterday voiced optimism that “all-time high” travel demand will help offset newly-elevated Central Bank concerns about the “downside risks” facing the sector.
External reserves jump on banks’ $84m inflow
The Bahamas’ external reserves grew by almost $55m in February 2022 as commercial banks collectively received a net $84.2m foreign currency inflow from their customers.
Minimum wage increase likely to be $250 ‘or close’
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) labour division head yesterday said the minimum wage increase will likely “match $250” per week or “close to it”.
Family Islands eye Easter boost from COVID test end
Easter holiday is looking “very good” for domestic tourism now that the COVID-19 inter-island testing requirements have been dropped, multiple Family Island hotel operators said yesterday.
BNT chief: $50m to enter carbon credits
A senior Bahamas National Trust (BNT) executive yesterday said this nation must likely invest $50m to enter “what could be the very lucrative international financing mechanism” of carbon credits.
Decide Freeport’s post-2054 direction ‘within next 5 years’
An ex-Grand Bahama Port Authority (GBPA) counsel says The Bahamas must within “the next five years” determine the direction that Freeport takes once the Hawksbill Creek Agreement expires in 2054.
‘Prosperity on paper’ must reach the street
The Bahamas must ensure “prosperity on paper trickles down” to the street level so that persons feel the impact from rising GDP in their daily lives, a well-known accountant has asserted.
Bahamas in modest financial centre rankings improvement
The Bahamas has improved its ranking in a key financial centre index by four spots after plummeting 26 places in 2021, it has been revealed.
Fuel cost surge to hit construction site ride
Contractors may no longer give their workers rides between home and the job site in a bid to counteract higher fuel costs, the Bahamas Society of Engineers (BSE) president has warned.
Cat Island urges: Do ‘due diligence’ on $60m resort
Cat Island business owners are urging the Government to conduct proper “due diligence” on a $60m resort project after its principal developer accepted US sanctions over his role in a $122m investment fraud.
Sanctioned resort principal’s project hearing put ‘on hold’
Tomorrow’s public hearing on a $60m Cat Island resort project, whose principal last week agreed to accept US sanctions over his role in a purported multi-million investment fraud, has been placed “on hold” by the Government.
