Jobless benefit claimants drop 40% in six months
A Cabinet minister says the number of jobless Bahamians receiving benefits through the National Insurance Board (NIB) has declined by over 40 percent in the past six months following the economy’s post-COVID rebound.
Gov’t close to deal on Club Med re-opening
The deputy prime minister yesterday revealed the Government is close to “an agreement in principle” with Club Med for the winter 2022 re-opening of its San Salvador resort property.
Gov’t invests $100k to fix airport baggage ‘glitches’
The deputy prime minister yesterday disclosed that the Government has invested $100,000 to “fix once and for all glitches” with the baggage handling equipment at Lynden Pindling International Airport (LPIA).
IMF interest rate fears dampened
Bahamian financial analysts yesterday dampened fears of near-term interest rate hikes after the International Monetary Fund (IMF) suggested such increases may be necessary to protect the US dollar exchange rate peg.
IMF: New, increased taxes a must for 25% revenue target
The International Monetary Fund (IMF) yesterday subtly signalled that The Bahamas must introduce new and/or increased taxes to hit fiscal targets that include a 25 percent revenue-to-GDP ratio before the next general election is due.
Gov’t seeks tariff slash proposals
The Government is seeking private sector recommendations on potential Customs tariff cuts that could be implemented via the upcoming 2022-2023 Budget as a means to ease the impact of soaring inflation on Bahamians.
National debt still bigger than Bahamas economy
The Bahamas’ national debt remained larger than the size of the country’s economy at year-end 2021, it was revealed yesterday, standing at a sum equivalent to 100.3 percent of gross domestic product (GDP).
Bahamas’ growth ‘more than double’ projections
The Bahamas exceeded 2021 economic growth projections by 180 percent, the International Monetary Fund (IMF) revealed yesterday, as it urged this nation to make increased COVID-19 vaccination rates its top priority.
Courier firms see slowdown as Ukraine uncertainty bites
Bahamian courier companies yesterday warned of a further shipping cost increase by summer 20202 with customers now holding back on spending due to growing economic uncertainty sparked by Russia’s invasion of Ukraine.
COVID testing ‘not adding up’
The Government and official Opposition were last night locked in a fresh battle over assertions that Bahamian taxpayers are subsidising US tourists’ return home because the $40 health travel visa cannot cover free COVID testing.
Medical labs say COVID test model ‘unsustainable’
Medical laboratories have warned the Government they cannot continue providing COVID-19 tests unless it alters the “unsustainable” model by which they are paid via the Bahamas health travel visa.
Bahamas’ $3bn in Russian assets ‘under 1%’ of sector
The Central Bank’s governor yesterday said the nearly-$3bn in Russian-connected assets held by the Bahamas’ international financial services industry represents “less than 1 percent” of the sector’s total business.
Web 3.0
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“$500?” chuckled former Microsoft boss, Steve Ballmer, after Apple chief Steve Jobs introduced the first iPhone in 2007. “This is the most expensive phone in the world. And it doesn’t appeal to business users at all because it doesn’t have a keyboard.”
Water Corp ultimatum over Bran $40k claim
A Supreme Court judge has given the Water & Sewerage Corporation two weeks to either file a defence or pay Branville McCartney’s law firm $40,000 in a dispute related to a defamation action launched by ex-chairman Adrian Gibson.
A perilous state of affairs
In a second article, Hubert Edwards writes that The Bahamas must enact 'the greatest set of reforms the country has ever seen' to set it on the right economic and fiscal track . . .
