Bahamas must repay $2bn in eight months
The Bahamas has to repay more than $2bn to its creditors within the next eight months, it was revealed last night, with the nation’s total debt stock now standing at $11.429bn.
Sports ministry’s $1.2m ‘Dorian funds’ under fire
The National Sports Authority’s ex-chairman yesterday said he halted the spending of $1.18m in “Hurricane Dorian funds” due to “the lack of clarity” on how they were to be spent.
Gov’ts $62m property tax amnesty write-off
The Government wrote-off $62m in outstanding real property taxes to gain just $37.5m in extra revenue via its recent amnesty initiative, it was revealed last night.
Cable targets $80m New Providence fibre roll-out
Cable Bahamas plans to invest $80m over the next two-three years on rolling out its New Providence fibre-to-the-home network, its top executive has revealed.
‘Unprecedented’ tourism boost via COVID upgrade
Resorts are eyeing “unprecedented” Christmas occupancies after the US upgraded The Bahamas’ COVID status, a top hotelier said yesterday, with many on pace to beat pre-pandemic levels.
BOB: Unleash us for commercial lending
Bank of the Bahamas’ managing director is urging the Central Bank to “level the playing field” by removing the restrictions imposed on its commercial lending in the wake of its near-collapse.
GLIMMER OF HOPE: Ratings agency S&P sees economic upturn but private sector cautious
The Bahamas does “not have enough control over our own plight” to take comfort from Standard & Poor’s (S&P) belief that COVID devastation has “bottomed out”, it was argued yesterday.
GB Power targets 13% return on rate changes
Grand Bahama Power Company is seeking returns of close to 13 percent in its proposed revision to the island’s electricity tariffs, it can be revealed.
Gov’t and Opposition trade blows over S&P downgrade
The Government’s attempt to blame the former Minnis administration for The Bahamas’ latest downgrade “does not line up” with Standard & Poor’s (S&P) analysis, an ex-Cabinet minister says.
Bahamas ‘15% ahead’ of pre-COVID for holidays
The Ministry of Tourism’s director-general yesterday said The Bahamas is “15 percent ahead” of pre-COVID business volumes for the upcoming Thanksgiving and Christmas season.
Gov’t in talks over who pays for COVID testing
The deputy prime minister has confirmed the Government is initiating talks with the hotel industry over whether unvaccinated staff should pay for their weekly COVID-19 tests.
SCOTIABANK UNVEILS NEW CARD PAYMENTS SYSTEM
SCOTIABANK (Bahamas) has introduced a payment system that allows customers to convert large credit card purchases into smaller monthly installments.
The Metaverse
ActivTrades
FACEBOOK recently changed its corporate name to Meta. This is a move that is more than just an attempt to deal with the brand erosion suffered over the last few years, as the controversy surrounding the social network increased due to hard targeting of users and accusations that its algorithms contribute to the polarisation of society through the dissemination of radical views and false information. The choice of name, Meta, hints at the future envisaged by Mark Zuckerberg for the company.
Bahamas downgraded by Standard & Poor's
Standard & Poor’s (S&P) today downgraded The Bahamas’ sovereign creditworthiness citing “the failure of successive governments to implement timely and effective” fiscal reforms even prior to COVID-19.
‘Grave bearing’ for shipping’s safety
The Nassau Container Port’s top executive yesterday called for long-needed repairs to the harbour’s breakwaters to become a high-priority item given the “grave bearing” for shipping safety.
