Water Corp’s $18.8m debt paid-off come ‘early 2023’
The Water & Sewerage Corporation’s main supplier yesterday revealed that it had “received assurances from the highest level” of the Bahamian government that the multi-million sum owed to it will be brought current by “early 2023”.
Property tax challenge deadline is ‘too tight’
Realtors yesterday said today’s deadline for challenging 2022 real property tax billings is “too tight” because appraisers have been overwhelmed by clients requesting valuations of their real estate.
Food Task Force: We’ve given 1.4m unit account
The COVID-19 food task force distributed 1.447m food parcels and vouchers to needy Bahamians at the pandemic’s height, it was revealed yesterday, as its chair unveiled the comprehensive database provided to the Government.
‘Sober reality’: Bakery on 5-8% price hikes
A Bahamian bakery yesterday said there are no concerns about potential bread shortages despite having to raise prices by between 5-8 percent with effect from April 4 due to the “cascading” effect of raw materials cost rises.
Gov’t ‘open’ to tariff slash suggestions
A Cabinet minister yesterday said the Government is “open to suggestions” from the private sector on tariff cuts that could be incorporated in the upcoming 2022-2023 Budget as a means to ease the impact of surging inflation.
Bahamas must take ‘aggressive steps’ over renewable energies
A Cabinet minister yesterday said current oil price volatility shows The Bahamas must take “aggressive steps” to harness renewable energy as it signed an agreement to access $9m in European Union (EU) grant funding.
Airport in $8.1m operating loss before Gov’t purchase
Grand Bahama International Airport suffered an $8.129m operating loss in the two-and-a-half years leading up to its 2021 purchase by the Government, which is aiming to select the preferred bidder to redevelop this asset by August 2022.
Water Corp’s record $26.4m debt set to become ‘current’
The Government has pledged to bring the Water & Sewerage Corporation’s record $26.4m debt owed to its main BISX-listed supplier “current”, it was revealed last night.
Marinas: ‘Major concern’ over oil pricing volatility
The Association of Bahamas Marinas (ABM) president yesterday confirmed the industry has “a major concern” that higher fuel prices will dampen boating/yachting demand over the “crucial” summer months.
High oil prices may force Gov’t roads ‘scale back’
The Bahamian Contractors Association’s (BCA) interim president yesterday said high oil and construction material prices may force the Government to “scale back” on its capital works budget for this and the upcoming fiscal year.
AML shrugs off inflation, ‘out-of-stocks’ concerns
Excluding one-off Dorian gains, AML Foods generated a 3.8 percent net profit increase for its 2022 third quarter despite grappling with inflation and supply chain issues that produced “high levels of out-of-stock” products.
HUBERT EDWARDS: The IMF’s ‘inconclusive’ concluding statements
This article concludes my assessment of The Bad points in the International Monetary Fund’s (IMF) recent Article IV statement on The Bahamas, starting with the recommendation for increased interest rates and then considering The Concerning issues.
Dorian small home repair contractors owed $400k
The Disaster Reconstruction Authority (DRA) owes $400,000 to contractors for the post-Dorian Grand Bahama small home repairs programme, a Cabinet minister said yesterday, with 1,100 homeowners still awaiting funding approvals.
Cruise port’s $300m finish moved back to early 2023
The completion of Nassau Cruise Port’s $300m transformation has been pushed back to early 2023, its top executive has revealed, with $110m worth of landside and buildings construction now set to move into high gear.
Retailers take hits ‘from every angle’
Merchants are enduring “the greatest period of uncertainty” they have ever encountered, the Bahamas Federation of Retailers’ co-chair says, adding: “We’re getting hit from every angle.”
