Tourism ‘market mix’ can beat Fed’s interest hike
The Bahamas Hotel and Tourism Association’s (BHTA) president yesterday voiced optimism that “pent-up” travel demand and a high-end “market mix” can sustain the post-COVID rebound despite the Federal Reserve’s latest tightening.
Bank chief pushes back on non-profits
Bank of The Bahamas’ managing director yesterday asserted it is “absolutely not” correct to accuse the commercial banking industry of seeking to “exclude” non-profit groups and charities from the financial system.
Bahamas ‘riding the bet’ over tourism demand
The Bahamas is “riding the bet” that pent-up tourism demand will offset a slowing US and global economy, a financial provider said yesterday, while warning: “That may not last for long.”
Nygard’s ‘fraudulent’ asset seize exposed
Accusations that Peter Nygard “fraudulently” sought to seize assets he does not own have been exposed by a legal claim against a Bahamian financial services provider involving a once-$40m yacht.
Water Corp selling 44% more thanks to huge loss reduction
The Water and Sewerage Corporation’s general manager yesterday said the utility is selling 44 percent more water than a decade ago despite a 12 percent production fall-off over the same period.
PM confirms Rothschild but no debt restructuring
The Prime Minister yesterday said Rothschild and Co will focus on “creating more [fiscal] headroom” for The Bahamas but emphasised this does not involve a restructuring of the country’s $11.8bn national debt.
‘No need to fear’ over Scotiabank-NUA deal
Bahamas First’s top executive yesterday dismissed concerns over its wholly-owned agency’s tie-up with Scotiabank, saying: “The market doesn’t need to fear there’ll be unfair competition.”
Cruise island expansion to drive 149% visitor rise
Visitors to a cruise line’s Bahamian private island are forecast to increase by more than 427,000 per year once two piers are constructed to allow its vessels to properly dock, it has been revealed.
Crowdfund platform to add secondary trading
A Bahamian crowdfunding platform yesterday said it plans to launch secondary market trading and improve issuer disclosure through the launch of additional features over the next nine months.
Opposition in ‘VAT-free holiday’ fate challenge
The Opposition’s finance spokesman yesterday voiced concern that Bahamian merchants and families could miss out on a significant inflation offset if no Back-to-School ‘VAT-free holiday’ is held this year.
Top official rules out ‘debt restructuring’
The Ministry of Finance’s top official yesterday reiterated that the Government has “no plans for any restructuring” of the $11.8bn national debt as he confirmed the hiring of an advisory firm to aid fiscal management.
Minister pledges ‘polluter will pay’ over Exuma spill
A Cabinet minister yesterday pledged that “the polluter will pay”, with the Government “holding their breath” that last week’s Exuma oil spill does no long-lasting harm to the area’s marine life.
Chamber chief urges more Lucayan sale transparency
The Grand Bahama Chamber of Commerce’s president yesterday urged the Government to be more forthcoming with the status of the $100m Grand Lucayan sale to Electra America Hospitality Group.
Gov’t hires Rothschild for $11.8bn debt help
The Government has hired Rothschild & Co, a major global financial group, to advise on what could become a “massive refinancing” of much of the country’s $11.8bn national debt, it was revealed yesterday.
Auto dealers: Sales ‘20% higher’ if we had supply
Bahamian auto dealers yesterday said industry-wide sales would be “20 percent higher” than the actual 159 year-over-year increase for 2022 to-date if vehicle supplies matched pre-COVID levels.
