Ex-Board defends BPL’s $535m bond
Bahamas Power & Light’s (BPL) outgoing Board yesterday pushed back against the Davis administration’s bid to kill-off the utility’s $535m refinancing by defending it as the “optimal solution”.
COVID loan defaults ‘not as bad as feared’
The Central Bank’s governor yesterday said the rise in COVID-related loan delinquencies is not as bad as feared with the increase set to fall “well below” the previous 15 percent peak.
‘Stressed’ oil explorer facing a $19m deficit
The oil explorer seeking to renew four drilling licences in Bahamian waters yesterday admitted it is in “a stressed financial position” with outstanding bills exceeding its cash resources by $19m.
Debt consolidation leads loan requests
Bahamians are struggling to finance “big ticket items”, the Central Bank’s governor said yesterday, given that debt consolidation accounts for 36 percent of all consumer loan applications.
Food process hub targets $1.8m crowd fund raising
An all-woman partnership is seeking to raise $1.8m via the ArawakX crowd funding platform and become “the regional hub” for food processing and export distribution.
Governor adjusts 2022 GDP growth to 6-8%
The Central Bank’s governor yesterday adjusted 2022 economic growth projections to 6-8 percent, with The Bahamas not expected to “fully erase” COVID’s impact before 2023 “at the earliest”.
Gov’t in Hansard review over heritage sites deal
The deputy prime minister yesterday said the Davis administration is seeking to determine whether Parliament was misled over a contract seemingly related to heritage and cultural tourism.
VAT cut’s ‘modest’ jobs, growth effect
Cutting the VAT rate to 10 percent will cause “only slight improvement” in job creation and economic growth, a University of the Bahamas (UoB) study asserts, while advocating it still “be pursued’.
Insurers warn that VAT reversal ‘totally asinine’
Insurers have warned the Government it would be “totally asinine” to reintroduce VAT on residential homeowner premiums given that this will create a multi-million dollar hurricane liability for itself.
Gov’t urged: Fix price control approvals fast
Super Value’s principal is urging the Government to provide “instant” price control approvals to minimise cost of living increases, inventory loss and general supply chain disruption.
Red Lobster franchise eyeing spin-off brand
The franchise group responsible for bringing Red Lobster to The Bahamas is planning to launch a “smaller footprint” chain of seafood restaurants in this nation in 2022.
Central banks love to print money
ActivTrades
Except for a few countries, Germany being a noticeable example where the use of physical cash to settle everyday transactions remains high due to cultural reasons, payment by electronic means is becoming more and more common.
RODERICK A. SIMMS II: Revive the National Development Plan
The COVID-19 pandemic has generated uncertainty around the fate of economic and social development in The Bahamas. While these uncertainties present unique opportunities for growth, having growth plans already in place is be one of the most effective ways to help countries recover from the pandemic’s devastating fall-out.
Baha Mar unveils latest restaurant
Baha Mar has revealed that its latest restaurant option will open at its Grand Hyatt property on December 20, 2021.
BPL $535m bond ‘too late out gate’
The Minnis administration was “too late getting out the gate” on Bahamas Power & Light’s (BPL) mammoth $535m refinancing, an ex-union president said yesterday.
