External shocks cause for a ‘special situation’
The Bahamas is “in a special situation” due to its high vulnerability to natural disasters and economic shocks, a trade specialist said yesterday, with imported goods ten times’ higher than exports.
Jitneys: Gov’t relief late so we want fare hikes
Jitney drivers yesterday slammed the Government’s proposed “relief package” for high gas prices as late, adding they would instead prefer adult fares be increased to $2 as the industry is “getting beat bad”.
Leased taxi plates end will be ‘process’
The Bahamas Taxi Cab Union’s (BTCU) president yesterday acknowledged it will be a “process” to convert leased plates into a situation where the drivers involved become owner-entrepreneurs.
Global treaty provides carbon credit catalyst
The Bahamas is seeking to exploit a global treaty that calls for countries to “voluntarily co-operate” on slashing their greenhouse gas emissions through its Climate Change and Carbon Markets Initiatives (CCCMI) Bill.
Banks’ fee income doubles in decade
Bahamian commercial banks are generating an ever-increasing share of their income from the fees detested by many consumers, which now account for more than $1 out of every $5 in earnings.
COVID’s $9.5bn blow nearly a triple Dorian
The Bahamas will never recover $9.5bn in economic losses and damage caused by COVID-19, it was revealed yesterday, with the pandemic combining with Hurricane Dorian to deliver a shattering $13.1bn blow to this nation.
Bahamas’ 20% shrink ‘not seen in worst crisis’
Bahamian economic output shrunk by a “remarkable” 20 percent in 2020, an Inter-American Development Bank (IDB) economist said yesterday, branding this COVID-induced plunge as “something you don’t see in the worst crisis”.
Gov’t to avoid global bond market for year
The Government last night affirmed it plans to avoid the international bond markets for the next 12 months while raising 57 percent of its $1.761bn financing needs for 2022-2023 from domestic investors.
ECONOMY CRASHED $9.5BN FROM COVID: Full impact of crisis laid bare - including $2.4bn in lost wages
THE impact of COVID-19 on the Bahamian economy has been pegged at $9.5bn, according to a joint study by the Inter-American Development Bank (IDB) and Economic Commission for Latin America (ECLAC).
COVID imposes $120m public health system cost
A Cabinet minister yesterday said COVID-19 has cost the public health system some $120m to-date, leaving it with $50m in “unbudgeted debt” which he discovered upon taking office.
Cruise tourism reliance exacerbated COVID hit
The Bahamas was yesterday urged to intensify its focus on the digital economy as a new source of gross domestic product (GDP) growth post-COVID.
Competition law could help cruise challenges
Fulfilling The Bahamas’ long-standing commitment to enact competition laws could help prevent the cruise lines directing passengers to patronise select tours, attractions and retailers, it is being argued.
BNT fears message sent over poaching-accused uncertainty
The Bahamas National Trust’s (BNT) executive director last night voiced fears that suspected fisheries poachers “caught red handed” in the Exumas may be allowed to leave this nation without being charged.
Bahamas among most exposed to Ukraine war
The Bahamas must brace for multiple economic “uncertainties” over the next 12-18 months, a governance reformer warned yesterday, after it was named among the eight Western Hemisphere states most vulnerable to the Ukraine war.
DevCO slams concrete maker over ‘gross underperformance’
The Grand Bahama Development Company (DevCO) has accused a concrete manufacturer or “gross contractual underperformance” and asserted that it cannot continue to grant it an aggregate monopoly that excludes local rivals.
