'Very small' US hike impact as national debt past $12bn
The Ministry of Finance's top official yesterday said last week's Federal Reserve rate hike had "a very small" impact on interest costs tied to the $2.317bn in foreign currency debt held by external investors.
GBPA: ‘Nothing but spite’ drives Gold Rock closures
A Freeport concrete supplier’s battle with the Grand Bahama Port Authority (GBPA) yesterday escalated into an all-out war as the two sides traded accusations of “spite” and “harassment” over the former’s imminent closure.
Super Value chief ‘thrilled’ at Ukraine supply restart
Super Value’s principal says he is “very thrilled” that Ukraine has begun to ship grain and related products again although it will be some months before Bahamian consumers see any food price benefits.
Contractor: Gold Rock exit is ‘good riddance’
A Grand Bahama contractor yesterday branded Gold Rock’s imminent exit as “good riddance” amid industry expectations that rivals will fill the concrete manufacturing void it creates “within three to six months”.
Happy investors, angry consumers
ActivTrades
While the population is carrying the burden of high electricity and gas prices, energy companies are reporting record profits and making their investors happy.
PM’s ‘intervention’ sought over 130 Gold Rock jobs
The Opposition’s leader yesterday voiced optimism that the Prime Minister’s “intervention” will prevent “a substantial blow” to Grand Bahama’s economy with up to 130 jobs threatened by the Gold Rock group’s closure.
Doctors enjoys up to 40% non-COVID revenue rise
Doctors Hospital plans to unveil its new Bay Street pharmacy within 30 days, a top executive revealed yesterday, with monthly non-COVID revenues up to 40 percent higher than pre-pandemic comparatives.
Banks told to build ‘stronger connection’ with non-profits
Bahamian non-profits need “a stronger relationship with the banks” if the sector is to grow and better meet society’s ever-increasing needs, a governance reformer argued yesterday.
Bahamas ‘nowhere near crisis’ despite new US recession fear
A prominent businessman yesterday sought to reassure that The Bahamas “is nowhere near crisis mode” despite mounting global economic gloom with suggestions that the US is now in an “unofficial recession”.
‘New monster in the house’ on small business funding
The finding that 99 percent of Bahamian firms had no interest in seeking debt financing in COVID’s aftermath was yesterday branded “irrelevant” by a small business adviser, who warned: “We have a new monster in the house.”
‘Break down offshore barriers’ to aid SMEs
The Bahamas has been urged “to find creative means” to allow so-called ‘offshore’ financial institutions to participate in the local economy and help narrow an estimated $748m small business “financing gap”.
Software developer dissuaded from expanding use to arrivals
A Bahamian software developer yesterday said individual Customs officers have discouraged him from submitting a proposal that would save “major time” on entering air arrivals data.
IAN FERGUSON: Bahamians should not fear diverse workforce
WHEN discussing the movement of people from one place to another, it can become a little confusing to know the correct terms to use.
Saturation and gas prices squeeze trucking market
A Bahamian trucking company owner yesterday said he would have been forced out of business if not for clients who understood his prices must rise to combat higher fuel costs.
COVID gives Doctors $58m top-line boost
Doctors Hospital has enjoyed a $58m revenue boost from COVID-19, it was revealed yesterday, helping to send net income soaring by 130 percent year-over-year for the 12 months to end-January 2022.
