Insurer’s $5m payout to boost equity return
A Bahamian insurer will “significantly reduce our cost of capital” by redeeming $5m in preference shares as it awaits regulatory approval to acquire an agency owned by one of its main shareholders.
Hope Abaco’s port PPP can ‘dodge bullet’
Abaco stakeholders yesterday voiced hope that the government is not too late to “dodge a bullet” with plans to seek a public-private partnership (PPP) for the rebuilding of Marsh Harbour’s sea port.
Realtor enjoys 300% sales volume growth
A prominent Bahamian realtor says sales volumes have increased by 300 percent year-over-year during the 2021 first half, with average sales prices hitting a record $2.7m.
Financial services shed nearly 160 jobs in 2020
The Bahamian financial services industry shed almost 160 jobs in 2020, a Central Bank report has revealed, with the banking sector suffering multi-billion dollar declines in “balance sheet” and “fiduciary” assets.
100% debt ratio will ‘only partially subside’
The Central Bank is warning that The Bahamas’ near-100 percent debt-to-GDP ratio will “only partially subside” as the economy begins its recovery from COVID-19’s devastation.
BTVI president says Bahamas ‘must do better’ on education
The Bahamas Technical and Vocational Institute’s (BTVI) president says The Bahamas must produce better-qualified workers as 60 percent of employers are unable to find the staff they need.
Mortgage facilitator’s insurance expansion
A mortgage facilitator has expanded its product offering through the acquisition of an established insurance agency.
The Federal Reserve hawkish pivot
ActivTrades
ON Wednesday June 16 the United States Federal Reserve stunned observers, announcing the intention to start rising interest rates at some point in 2023, bringing the dot plot forward by a full year.
Bahamas First sees top ratings affirmed
Bahamas First’s “favourable operating performance” amid COVID-19’s economic stresses saw its credit and financial strength rankings upheld by the top global insurance rating agency.
Bahamas breaks aviation Frontier
FRONTIER Airlines made its first flight to Nassau on Friday, becoming the first ultra-low fare carrier to enter the Caribbean market with multiple travel days per week. Frontier will operate direct flights from Miami International Airport to Lynden Pindling International Airport (LPIA) four times a week with effect from next month.
‘It’s bouncing back with a vengeance’
Tourism was yesterday said to be “bouncing back with a vengeance” with 13,000 cruise visitors expected in the week before Independence and Nassau’s mega resorts reporting occupancies of up to 90 percent.
DEREK SMITH: Following the crowd fails your business
Risk management is a topic that has increasingly made headlines around the globe due to the COVID-19 pandemic. Locally, after the release earlier this month of my first article in this two-part series on why businesses fail, I have had multiple conversations with colleagues about risk management. What was evident is that views are split about whether proactive risk management or reactive risk management should be deployed by companies.
US departures back to 75% pre-COVID levels
US pre-clearance at Lynden Pindling International Airport (LPIA) expects to be processing 70-75 percent of pre-COVID’s record passenger volumes “by the end of summer”, a top official revealed yesterday.
Construction costs to jump 20% this year
Two ex-Bahamian Contractors Association (BCA) presidents yesterday warned that construction costs will likely increase up to 20 percent this year as cement became the latest product to take a hit.
‘Greater resolve’ to eliminate Bahamas in financial services
A former prime minister yesterday warned that COVID-19 has “only strengthened the resolve” of major nations to eliminate the competitive threat posed by The Bahamas and other Caribbean countries.
