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.
IMF chief: Bahamas ‘leading revolution’
The International Monetary Fund’s (IMF) top executive yesterday hailed The Bahamas for “leading the revolution” by becoming the first nation to launch a Central Bank Digital Currency (CBDC).
Nightclub owner gets 60 days to pay $734k taxes
A prominent Bahamian businessman has been given 60 days to pay $734,222 in outstanding real property taxes on his West Bay Street nightclub property or see it sold by the government.
Insurer hits rating peak; two Dorian claims left
A Bahamian insurer yesterday revealed that just two Hurricane Dorian-related claims are left to be settled after its highest-level “financial strength” and credit ratings were reaffirmed by the industry’s top assessor.
‘Cannot stop the economy again’
Bahamian businessmen yesterday voiced relief that the prime minister did not unveil a COVID-19 lockdown or further restrictions in his Wednesday night address, asserting: “You cannot stop the economy again.”
Judge issues plea for Schooner Bay peace
A Supreme Court judge has made an impassioned plea for peace to prevail in an Abaco community that has been beset by a long-running dispute between its developer and several homeowners.
DPM pledges 80% slash over building permit turnaround
The deputy prime minister yesterday pledged to slash building permit turnaround times by up to 80 percent with the implementation of Building Control’s long-awaited digital approval system.
Digital building permits hailed as ‘long overdue’
The Bahamas Society of Engineers (BSE) president yesterday hailed as “long overdue” plans to slash building permit turnaround times by going digital, branding the 60-80 percent reduction target as “achievable”.
Sand Dollar targets ‘further milestones’
The Bahamian digital currency’s roll-out will hit “further milestones” next month, the Central Bank’s governor says, with consumers gaining the ability to switch funds between their bank accounts and mobile wallets.
DANIEL FERGUSON: Procurement e-portal not being maximised
I wish to now elaborate more on the electronic portal that is the Bahamian government’s e-procurement supplier registry.
Digitisation of little use if poverty gaps remain
The Bahamas needs to address its social gaps before full digitisation of the economy can take place, an information and communications technology (ITC) executive warned yesterday.
Fiscal Council chief: ‘No short-term fix’
The Fiscal Responsibility Council’s chairman yesterday said there was “no short-term fix” for the government’s multi-billion dollar debt and deficit challenges, describing it as a “difficult situation”.
BPL discloses staff pay as union relations sour
Bahamas Power & Light (BPL) last night said line staff earned average “cash compensation” of almost $58,000 during its 2020 financial year as industrial relations at the utility appeared to further sour.
Regional insurer in acquisition deal
A pan-Caribbean insurer with a Bahamian subsidiary yesterday confirmed that Peak Reinsurance Company has agreed to acquire 100 percent of the group subject to closing conditions and regulatory approvals.
