Growing pessimism on Grand Lucayan’s sale
Grand Bahama businesses yesterday voiced growing pessimism that the Grand Lucayan’s sale to the ITM Group/Royal Caribbean joint venture will ever be completed especially as a general election nears.
Commission summons police over firm’s ‘fake certification’
The Securities Commission has brought in the Royal Bahamas Police Force (RBPF) to help investigate an entity falsely claiming to be licensed and registered with the financial services regulator.
Bahamas ‘not doing enough’ to fight corruption perception
Governance reformers yesterday warned The Bahamas “is not doing enough to change perceptions of corruption” as the US government again cited irregularities in this nation’s procurement and investment approvals process.
Governor: Use $200m for Dorian rebuilding
The Central Bank’s governor yesterday urged Dorian-ravaged businesses and homeowners to draw down on “at least $200m” in unused reinsurance funds to finance rebuilding, adding: “The economy will be better off.”
Doctors sees 75% growth in demand
Doctors Hospital has seen a 75 percent year-over-year increase in demand for its services based on top-line revenue growth during the first six months of its 2022 financial year, a senior executive has revealed.
‘Near-term risk’ to the economy has increased
The Central Bank’s governor yesterday warned that “very near-term risks to the economy have increased” as a result of surging COVID-19 infection rates in The Bahamas and its key tourism source markets.
Restrictions gave external reserves ‘$200m cushion’
The Central Bank’s governor yesterday revealed that restrictions imposed last year in the immediate aftermath of the COVID-19 pandemic’s outbreak had “provided at least a $200m cushion for the external reserves”.
Doctors in 40% public GB hospital ownership
Doctors Hospital is planning to offer at least a 40 percent collective ownership stake to Grand Bahamians in the $15m-$20m hospital it plans to open on that island by the 2022 second quarter.
Minister: 'Extreme frustration' over Grand Lucayan
A Cabinet minister says it is "extremely frustrating" that the Grand Lucayan's sale continues to be delayed by the protracted wait for ITM/Royal Caribbean to close their separate deal with Freeport Harbour Company.
DON’T BLAME US FOR BEETLE CARGO FIASCO: Shipping agents say sub-contractor was to blame for blunder
The Bahamian shipping agent for a vessel that offloaded wood waste containing an invasive beetle species yesterday pledged to fight impending Customs charges and efforts to make it “a scapegoat”.
Tourism chief: COVID test tightening ‘right thing to do’
The Bahamas’ top hotelier yesterday said the government’s tightening of COVID-19 testing requirements for incoming travellers was “the right thing to do” in a bid to bring the country’s soaring infection rate under control.
Arawak Cay chief backs loitering ban
The Arawak Cay Association’s president says “one of the good things” about the government’s COVID-19 crackdown is the ban on loitering at the popular Fish Fry destination.
Burger King expanding ‘where it makes sense’
Burger King management say they are always looking to “expand where it makes sense” after the brand opened its latest restaurant on East Street south.
COFFEE AND GLOBALIZATION
ActivTrades
THE etymology of the word offers clues on the history and trajectory of what is, after water and tea, the most popular drink in the world; the English term coffee was adapted from the Dutch koffie, which in turn evolved from the Turkish kahve, itself based on the Arabic qahwah, which I’m told means “dark in colour”. It is believed the plant originates from Ethiopia and Sudan, while the first known reports of coffee being drunk dates from the 15th century, in Yemen, where it had arrived transported by Somali merchants.
Realtors ‘embrace’ demand for cryptocurrency purchases
Bahamian realtors yesterday revealed they are developing strategic alliances to “embrace” cryptocurrencies already being used as a means of payment for local property transactions.
