Statutory downtown manager supported if functions correctly
DOWNTOWN Nassau stakeholders yesterday backed the creation of a statutory body to manage the city’s transformation while urging the Government to respect private property rights.
‘Time not on our side’ for Bay Street revival
Nassau Cruise Port’s top executive yesterday warned “time is not on our side” to ensure Bay Street’s tourism product meets the expectations of 20,000-plus cruise ship passengers and other visitors frequenting the area daily.
Bahamian contractors ‘scrapping for 40% left’
The Bahamian Contractors Association’s (BCA) interim president yesterday urged the Government to “save the 40 percent that’s left for locals” by finally enacting self-regulation and “fixing a broken” work permit renewal system.
IMF ‘preaching to choir’ over COVID-19 ravages
A senior hotelier yesterday said the International Monetary Fund (IMF) is “preaching to the choir” over its call to make increased COVID-19 vaccination rates The Bahamas’ leading economic policy priority.
Manager loses $195k claim over alleged watches theft
A store manager has lost his $195,000 claim against a luxury goods retailer over the alleged theft of hundreds of thousands of dollars in watches despite being cleared of all criminal charges relating to the affair.
DPM: Bay Street can’t be ‘point of national shame’
The deputy prime minister yesterday said downtown Nassau must “become the calling card of The Bahamas, not continue to be a point of national shame”
Jobless benefit claimants drop 40% in six months
A Cabinet minister says the number of jobless Bahamians receiving benefits through the National Insurance Board (NIB) has declined by over 40 percent in the past six months following the economy’s post-COVID rebound.
Gov’t close to deal on Club Med re-opening
The deputy prime minister yesterday revealed the Government is close to “an agreement in principle” with Club Med for the winter 2022 re-opening of its San Salvador resort property.
Gov’t invests $100k to fix airport baggage ‘glitches’
The deputy prime minister yesterday disclosed that the Government has invested $100,000 to “fix once and for all glitches” with the baggage handling equipment at Lynden Pindling International Airport (LPIA).
IMF interest rate fears dampened
Bahamian financial analysts yesterday dampened fears of near-term interest rate hikes after the International Monetary Fund (IMF) suggested such increases may be necessary to protect the US dollar exchange rate peg.
IMF: New, increased taxes a must for 25% revenue target
The International Monetary Fund (IMF) yesterday subtly signalled that The Bahamas must introduce new and/or increased taxes to hit fiscal targets that include a 25 percent revenue-to-GDP ratio before the next general election is due.
Gov’t seeks tariff slash proposals
The Government is seeking private sector recommendations on potential Customs tariff cuts that could be implemented via the upcoming 2022-2023 Budget as a means to ease the impact of soaring inflation on Bahamians.
National debt still bigger than Bahamas economy
The Bahamas’ national debt remained larger than the size of the country’s economy at year-end 2021, it was revealed yesterday, standing at a sum equivalent to 100.3 percent of gross domestic product (GDP).
Bahamas’ growth ‘more than double’ projections
The Bahamas exceeded 2021 economic growth projections by 180 percent, the International Monetary Fund (IMF) revealed yesterday, as it urged this nation to make increased COVID-19 vaccination rates its top priority.
Courier firms see slowdown as Ukraine uncertainty bites
Bahamian courier companies yesterday warned of a further shipping cost increase by summer 20202 with customers now holding back on spending due to growing economic uncertainty sparked by Russia’s invasion of Ukraine.
