Gas price crisis wiping out retailers’ profits
Bahamian gas stations say “no business operates” on the unsustainable seven percent gross margins they are enduring amid warnings the sector may have to cut jobs and operating hours to survive.
Bahamas ‘stands out like sore thumb’ over COVID entry testing
Tourism executives are warning The Bahamas “stands out like a sore thumb” over its continued COVID entry testing measures after the US eliminated such restrictions with effect from midnight yesterday.
Stem cell pioneer: Just 3% of claims accepted
Less than 3 percent of $16.5m in creditor claims against a Freeport business, once hailed for pioneering The Bahamas’ entry into the stem cell therapy industry, had been accepted as at end-May 2022.
‘Still among leaders’: But Bahamas’ FDI down 60%
The Bahamas is “still among the leaders” despite a United Nations (UN) agency yesterday revealing that foreign direct investment inflows to this nation declined by 60 percent year-over-year in 2021 to $360m.
Vehicle theft claims ‘out of the ordinary’
A Bahamian insurer says an “out of the ordinary” increase in motor vehicle theft claims was among the principal factors why it missed profit projections for 2021.
Gov’t hails 69% VAT rise: Rate cut works
The Government is hailing its VAT rate cut for producing a 62.8 percent year-over-year increase in revenues to $299m for the three month period that closed at end-March 2022.
Reflating economy aids $11.843bn debt burden
The Bahamas’ $11.843bn national debt at end-March 2022 has dropped below this nation’s economic output due to the continued post-COVID-rebound, resulting in a debt-to-GDP ratio of around 98.4 percent.
IAN FERGUSON: Grooming a workforce for corporate success
A grooming policy should reflect the needs of the employer while not unnecessarily restricting an employee’s individual expression. The more formal or professional the culture, and the more employees interact with individuals outside the workplace, the greater the need for employers to have a policy governing employee grooming and hygiene.
Gov’t allocates $4.5m for GB growth revival
A Cabinet minister yesterday said some $360,000 has been set aside to finance micro, small and medium-sized (MSME) businesses and entrepreneurs in Grand Bahama.
Ex-PM renews attack on cost of living ‘crisis’
The former prime minister yesterday renewed his attack on the Government’s decision to reimpose VAT on so-called “breadbasket” food items by arguing this has “made worse” the cost of living crisis faced by many Bahamians.
Coral disease fighter: ‘We are being seen as pirates’
The scientific institute spearheading The Bahamas’ fight against a killer coral disease yesterday said it may have to start slashing local jobs this summer due to permitting woes, adding: “We’re being viewed as potential pirates.”
FOCOL ‘gunning’ to beat $40m savings for BPL
FOCOL Holdings is “gunning” to beat the $40m savings pledged to Bahamas Power & Light (BPL) customers through the New Providence rental generation it will supply to prevent summer blackouts, its chairman asserted yesterday.
Contractors Act reform must prevent ‘storm’
The Bahamian Contractors Association’s (BCA) president yesterday said the Government is prioritising reforms that will prevent a “storm” erupting in the sector through “thousands” of persons potentially being barred from obtaining licences.
Chinese funding wait halts $23.3m stadium upgrades
The $23.3m renovation of the Thomas A Robinson stadium has been placed “on hold” while the Government tries to obtain grant financing from the Chinese government, a Cabinet minister revealed yesterday.
BPL: $15m maintenance put back to ‘manage cash’
Bahamas Power & Light (BPL) has delayed $15m in maintenance overhauls beyond summer 2022 “to manage cash”, a Cabinet minister revealed yesterday, while conceding that such practices have undermined generation “reliability”.
