Electricity rate rise ‘extra burden’ for GB revival leaders
Grand Bahama Power Company’s planned electricity rate increases will impose “an extra burden” on the very businesses the island is relying on to pull it out of recession, it was argued yesterday.
Digital is financial future in Bahamas
With the rise of smartphone adoption across the Caribbean, many industries have sought innovative ways to engage consumers by digitising their services. The banking industry is no different, as companies seek to establish future financial trends. As proven by the launch of the Sand Dollar, the world’s first Central Bank Digital Currency (CBDC), the Bahamas’ financial services sector is now looking to transform its legacy infrastructure by going digital to improve its security, lower costs and grow the customer base. Initially rolled out in Exuma and Abaco, as of March 2021, nine digital wallet providers circulated $130,000 worth of digital Bahamian dollars throughout the entire archipelago.
Prospect Ridge project was fastest ever-mover
The Minnis administration’s Prospect Ridge young professionals community progressed as far as having architectural sketch plans completed, an FNM senator yesterday.
Price controls worsen supply chain problem
A Bahamian wholesaler yesterday warned that price control regulations are worsening the supply chain crisis and product shortages in food stores.
Retailers fret on Christmas stock
Bahamian retailers yesterday said the global supply chain crisis is making them fret over whether Christmas product orders will arrive in time for the festive season.
ART OF GRAPHIX: Putting favourite formats on file
PNG (portable network graphic) is a type of image file that is often favoured in web design and creative projects involving Photoshop or similar software. It is a type of file that allows an object to be placed into software with a clear background or as a partially transparent image, making it especially useful when creating a graphic from multiple layers. PNG is one of my favourite image files.
Coral farm ‘showcase’ eyes 1m annual target
The Bahamian winner of Prince William’s £1m Earthshot prize yesterday disclosed it is targeting production of 1m coral pieces per year to help “showcase” this nation’s environmental credentials.
GB Power promises $50m network spend
Grand Bahama Power Company yesterday pledged to invest $50m over the next five years to maintain its network infrastructure, and admitted: “No one wants to see rates increase.”
GB Power critic: Rate increase is ‘last straw’
Businesses and civil society yesterday united against Grand Bahama Power Company’s proposed electricity rate increases, with some branding it “the last straw” and warning of protests to come.
Lucayan Board urges Royal Caribbean exit
The Grand Lucayan’s Board has “unanimously” recommended to the Davis administration that it exit the ITM/Royal Caribbean deal and “move on” with alternative options.
The perfect storm
ActivTrades
There is still a shortage of containers all over the world. The ships are jammed in the ports, for example, in Los Angeles. The pandemic is disrupting global trade.
Poultry farmer: ‘It’s like we’re spinning on hamster wheel’
An Abaco poultry farmer yesterday said the agriculture industry would become more appealing to entrepreneurs and investors if the Government eliminates tiresome bureaucracy.
Cable Bahamas readies for growing cyber threat
Cable Bahamas is “simplifying tasks” and “reducing compliance costs” as its moves to combat fraud in a period of accelerated “digital transformation” driven by COVID-19.
Embassies hit by 75% auto delivery plummet
Bahamas-based diplomatic missions are among those hit by a vehicle backlog where local dealers receive as little as 25 percent of their orders as the global supply chain crisis worsens.
Bank loss leaves Family Islands ‘out of economy’
Exuma’s Chamber of Commerce yesterday said it is aiming to engage the Government over the “devastating” impact the island has suffered from losing “two-thirds” of its bank branches.
