Water Corp sees cash collections decline by $6m
The Water and Sewerage Corporation continues to endure COVID-19’s “devastating impact” on cash collections which have decreased by 24 percent or nearly $6m year-to-date, its executive chairman said yesterday.
Fisheries exports enjoy 19% value increase in 2020
Bahamian fisheries generated a 19 percent increase in the value of its export earnings in 2020 despite a reduction in the volume of domestic landings, a Cabinet minister disclosed yesterday.
Nightspot left facing ‘insurmountable task’
A popular nightspot yesterday revealed it faced “an insurmountable task” to remain open due to the “toll” inflicted by the “inequitable” application of COVID-19 measures combined with the ongoing 10pm curfew.
GROCERY BILL SET TO SOAR: Supermarket boss warns families face 8-10% price hikes
Super Value’s president yesterday warned that consumers will have “a big pill” to swallow by Christmas, as he predicted that grocery and meat prices will increase by eight percent and 10-12 percent respectively.
Budgeting to face future challenges
* In the second of a four-part series, Hubert Edwards argues that the Government had limited options with the 2021-2022 Budget due to a paucity of resources
Kalik maker’s loss doubles as revenues decline 15%
Commonwealth Brewery yesterday blamed a 15 percent year-over-year revenue decline for its 2021 first quarter loss more than doubling in comparison to 2020 figures.
Bank back-up hits Cat Island after lockdown
A Cat Island business owner said it yesterday took three hours to conduct their financial business as residents descended on its only physical bank branch after being released from a three-week COVID lockdown.
Club Med: San Salvador re-opening in December
Club Med’s San Salvador property remains on track to reopen in December 2021, the resort chain said yesterday, citing the island’s lack of medical facilities as a key factor in the property’s ongoing closure.
Water & Sewerage to unveil infrastructure enhancements
The Water and Sewerage Corporation’s (WSC) executive chairman forecast that multiple “commissionings” for new water infrastructure will take place during 2021.
US pre-clearance woe to hit travel
Travellers have been told to arrive early at Lynden Pindling International Airport (LPIA) because there is insufficient manpower at US pre-clearance to process them “seamlessly”, it was revealed yesterday.
Royal Caribbean’s PI lease threatens dispute resolution
A Bahamian entrepreneur says fragile negotiations to resolve the dispute over his Paradise Island project have been undermined by the government executing a crown land lease in Royal Caribbean’s favour.
Port’s $31m refinance eliminates tariff rises
Nassau’s major cargo port says it has eliminated the possibility of any tariff rate increase by agreeing a refinancing of its near-$31m preference share debt that will slash interest costs by some $4.5m.
The new lust of the next generation - wealth through the stock market
ActivTrades
Millions of new brokerage accounts were opened worldwide last year. Young people between 20-30 are going public. They invest their money according to different standards. And the rules for long-term shareholders are also changing.
Compass Point in May, 2022 close
Compass Point’s owner has confirmed the iconic western New Providence resort will close on May 3, 2022, and that the travel industry has been informed amid his ongoing regulatory impasse with the government.
‘Stop crying as if we are the victim’
The Bahamas “must stop crying as if we are the victim” and instead “aggressively” reform its tax system to compete under a 15 percent minimum global corporate levy, a top banker argued yesterday.
