$700m Gov’t bond goes forward despite election
The Ministry of Finance’s top official yesterday said the Government’s $700m foreign currency bond issue is proceeding “unless we get some kind of policy directive to change course” from the new administration.
Confident in BPL $535m refinance despite election
Bahamas Power & Light’s (BPL) chairman yesterday voiced confidence that the utility’s mammoth $535m refinancing will be executed by year-end 2021 despite the potential general election interruption
BOB chief pledges lending tightened
Bank of The Bahamas’ managing director yesterday pledged that lending policies have been tightened significantly since it secured a $34,000 loan on a vehicle it already knew was stolen.
‘Bankrupt’ warning over PLP’s deal with unions
Private sector representatives yesterday warned that the Progressive Liberal Party’s (PLP) deal with the two umbrella trade unions threatens to “bankrupt companies” if fully enacted post-general election.
Water Corp controversy highlights reform need
I was extremely reluctant to write this article because it is political “silly season”, and at this time whatever one says or does in our polarised country, you are then labelled as being affiliated with a certain party.
Gov’t’s $109m payables are ‘highly questionable’
The Opposition’s deputy leader yesterday branded the Government’s assertion that it owes vendors some $109m in current accounts payables as “highly questionable”.
Marinas facing ‘go-slow mode’
The Association of Bahamas Marinas (ABM) president yesterday said the industry was in “go-slow mode” due to the approaching hurricane season peak and issues with COVID-19 related entrance protocols.
BPL unveils ‘indemnity’ to address ownership woes
Bahamas Power & Light (BPL) yesterday unveiled a process that will enable it to supply electricity services to “hundreds” of Family Island customers who lack clear title ownership of their properties/land.
Reserves bolstered by $247m from IMF
THE International Monetary Fund (IMF) has given the central bank $247m from special drawing rights (SDR) to bolster external reserves.
SBDC awards $735,000 to local shipping company
AN Andros business has received $735,000 from the Small Business Development Centre (SBDC), the largest amount of funding for any business through the agency.
SCB issues warning about ‘scam’ company
THE Securities Commission of The Bahamas has issued a warning about an unlicensed “scam” company that it says is part of a “noticeable increase” in the number of such firms seen operating since the onset of the COVID-19 pandemic.
Why Bitcoin profits from China’s mining ban
ActivTrades
THE cryptocurrency Bitcoin has gained around 70 percent in value within five weeks – although China is regulating the cyber currency ever more closely. In the long term, the ban from Beijing could even stabilize the crypto market.
PI developer slams gov’t for Crown Land lease
THE businessman fighting to develop part of Paradise Island has accused the government of siding with Royal Caribbean Cruise Line’s plans for a five-star beach club on the island that would devastate his plans.
IDB report: Bahamas had ‘negative return on investments in 2020’
The Bahamas had a negative return on investments in 2020 despite having forbearance and financial support measures for non-performing loans during the COVID-19 pandemic, says an Inter-American Development Bank report.
No minimum wage increase without NTC decision, says Commerce director
A Chamber of Commerce director said no increase to the minimum wage should happen unless it comes through the National Tripartite Council (NTC).
