House dispute erupts over controversial water plant
A dispute erupted in the House of Assembly yesterday over a troubled New Providence wastewater treatment plant that the new administration is pledging to finish “in the shortest possible time”.
Port beats revenue forecasts by $1.5m
Nassau’s major commercial shipping port beat its original revenue forecast by almost $1.5m for its 2021 financial year, although profits declined by 7.7 percent year-over-year.
Oil explorer shouldn’t be ‘blip on the radar’
An oil explorer’s financial woes should mean its bid to renew its four Bahamian licences is “not even a blip on the radar” for the Government, environmental activists argued yesterday.
Murder convict fails to release $11.4m freeze
A convict serving a 50-year sentence for murder has failed in a bid to overturn an Order that froze up to $11.4m of his assets held by Bahamian financial institutions.
‘Out on a limb’ over strong boating 2022
The Bahamas is on course to enjoy “one of its best years for yachting and boating in a very long time” in 2022, the Association of Bahamas Marinas (ABM) vice-president predicted yesterday.
‘Can’t account’ for all BAMSI set-up spend
The Christie administration’s investment in the Bahamas Agricultural and Marine Science Institute (BAMSI) could not be fully accounted for but may have hit $80m, an ex-minister affirmed yesterday.
Gov’t ‘reaching ceiling’ on debt
The Government may be reaching its debt limits given that such liabilities are now bigger than the economy, the Debt Advisory Committee’s head warned yesterday.
Ex-Board defends BPL’s $535m bond
Bahamas Power & Light’s (BPL) outgoing Board yesterday pushed back against the Davis administration’s bid to kill-off the utility’s $535m refinancing by defending it as the “optimal solution”.
COVID loan defaults ‘not as bad as feared’
The Central Bank’s governor yesterday said the rise in COVID-related loan delinquencies is not as bad as feared with the increase set to fall “well below” the previous 15 percent peak.
‘Stressed’ oil explorer facing a $19m deficit
The oil explorer seeking to renew four drilling licences in Bahamian waters yesterday admitted it is in “a stressed financial position” with outstanding bills exceeding its cash resources by $19m.
Debt consolidation leads loan requests
Bahamians are struggling to finance “big ticket items”, the Central Bank’s governor said yesterday, given that debt consolidation accounts for 36 percent of all consumer loan applications.
Food process hub targets $1.8m crowd fund raising
An all-woman partnership is seeking to raise $1.8m via the ArawakX crowd funding platform and become “the regional hub” for food processing and export distribution.
Governor adjusts 2022 GDP growth to 6-8%
The Central Bank’s governor yesterday adjusted 2022 economic growth projections to 6-8 percent, with The Bahamas not expected to “fully erase” COVID’s impact before 2023 “at the earliest”.
Gov’t in Hansard review over heritage sites deal
The deputy prime minister yesterday said the Davis administration is seeking to determine whether Parliament was misled over a contract seemingly related to heritage and cultural tourism.
VAT cut’s ‘modest’ jobs, growth effect
Cutting the VAT rate to 10 percent will cause “only slight improvement” in job creation and economic growth, a University of the Bahamas (UoB) study asserts, while advocating it still “be pursued’.
