High oil prices may force Gov’t roads ‘scale back’
The Bahamian Contractors Association’s (BCA) interim president yesterday said high oil and construction material prices may force the Government to “scale back” on its capital works budget for this and the upcoming fiscal year.
AML shrugs off inflation, ‘out-of-stocks’ concerns
Excluding one-off Dorian gains, AML Foods generated a 3.8 percent net profit increase for its 2022 third quarter despite grappling with inflation and supply chain issues that produced “high levels of out-of-stock” products.
HUBERT EDWARDS: The IMF’s ‘inconclusive’ concluding statements
This article concludes my assessment of The Bad points in the International Monetary Fund’s (IMF) recent Article IV statement on The Bahamas, starting with the recommendation for increased interest rates and then considering The Concerning issues.
Dorian small home repair contractors owed $400k
The Disaster Reconstruction Authority (DRA) owes $400,000 to contractors for the post-Dorian Grand Bahama small home repairs programme, a Cabinet minister said yesterday, with 1,100 homeowners still awaiting funding approvals.
Cruise port’s $300m finish moved back to early 2023
The completion of Nassau Cruise Port’s $300m transformation has been pushed back to early 2023, its top executive has revealed, with $110m worth of landside and buildings construction now set to move into high gear.
Retailers take hits ‘from every angle’
Merchants are enduring “the greatest period of uncertainty” they have ever encountered, the Bahamas Federation of Retailers’ co-chair says, adding: “We’re getting hit from every angle.”
Smartphone penetration hits 98% of Bahamians
Just 2 percent of Bahamians do not own a smartphone or tablet, communications regulators have revealed, with total mobile connections exceeding the size of the country’s population.
Aggressive Freeport push ‘may be what is needed’
A Freeport hotelier has backed the Government’s “aggressive” approach to reviving Freeport’s tourism industry and wider economy, saying: “Maybe that’s what’s needed.”
Investor ‘fraud’ concerns on $60m Cat Island resort
The Government was last night urgently reviewing the legitimacy of a $60m Cat Island resort project after its principals were charged by US federal regulators with playing key roles in a multi-million dollar investment fraud.
The IMF’s “Inconclusive” Concluding Statement – PART II
Part II concludes assessment of “The Bad” (see Part I) points in the IMF statement starting with the paradox of the recommendation for increased interest rates and then consider the “The Concerning” issues.
Grove businesses: Murder rise ‘too close for comfort’
Businessmen in the Coconut Grove area yesterday urged the Royal Bahamas Police Force to “step up patrols” as the recent surge in murders is “just a little too close for comfort”.
Arawak Cay chief eyes two further Fish Frys
The Arawak Cay Association’s president yesterday said two new Fish Fry-style destinations need to be created on New Providence as he moves to bring new stalls appearing east of Arawak Cay Drive into his membership.
Health Visa providers warned on testing end
Health Travel Visa providers have been informed that the scheme’s COVID testing component will soon end, it was confirmed yesterday, amid assertions they have been given two months’ warning by the Government.
‘One hand tied behind its back’
Abaco businesses and residents are voicing concerns over the imminent deadline by which they must submit applications for the continuation of Hurricane Dorian-related tax relief.
Gas stations warn on staffing, volume cuts
Gas station operators are warning they will now have to start slashing staff hours and the volume of fuel they purchase from wholesalers after per gallon prices breached the $6 mark.
