Loan approvals hit six-year low
Bank loan approvals fell to their lowest level for six years in the 2020 second half, it was revealed yesterday, with just two-thirds of applicants approved compared to 80 percent in the prior year.
Governor: We saved $500m for reserves
The Central Bank’s governor yesterday disclosed that restrictions on foreign currency outflows imposed at COVID’s peak could have saved up to $500m in external reserves.
‘Embrace call’ to pay for COVID-19 debt blow-out
The Central Bank’s governor yesterday argued Bahamians must “embrace the call” to pay for the country’s COVID debt blow-out, but hinted that new and/or increased taxes are unlikely to be imminent.
Nassau and Freeport top port ‘scrubbers’
Nassau Cruise Port’s top executive yesterday said “more work is definitely needed” after the Bahamian capital and Freeport were ranked in the world’s top five ports for “washwater pollution” discharges.
Deal struck to save Out Island water supply
Thousands of residents in three Family Island communities have been spared a water supply cut-off today after the government and private sector operator struck a deal to end their dispute.
Deferred bank loans decrease by $1.6bn
“Deferred” commercial banks loans have decreased by more than $1.6bn since COVID-19’s peak, a senior Central Bank official has revealed, while denying that the sector is “over-regulated”.
Scotiabank ordered: Repay $27.5k taken from ZNS anchor
A top ZNS TV anchor has won damages from Scotiabank (Bahamas) after it refused to reimburse $27,500 in “unauthorised transactions” that were taken from her account.
Are rare earths the next big thing?
ActivTrades
THE commodities scene has for generations been dominated by gold and oil but as travel and power move away from combustion engines and carbon-intensive sources in favour of greener alternatives, a collection of minerals known as rare earths are becoming increasingly influential and the potential cause of trading battles.
Cable, BTC lose 14,000 TV clients in four years
Pay-TV subscribers in The Bahamas declined by almost 14,000 over the four years to end-2020 as Netflix and other video streaming services continue to lure customers away.
Bahamas can ‘set global digital currency standard’
THE Bahamas can “set the global standard” for digital currencies if it can get more businesses and consumers “on board” with its use, a Royal Bank of Canada (RBC) executive is arguing.
Harmful food imports are being ‘weeded out’
Food health and safety regulators have enjoyed some success in “weeding out” imported produce that may be harmful to Bahamians, a Cabinet minister has asserted.
Entrepreneurs urged: The innovation comes from you
The Small Business Development Centre’s (SBDC) executive director has made an impassioned plea for entrepreneurs to drive The Bahamas’ post-COVID revival, arguing: “The innovation must come from you.”
Helping insurers to navigate client KYC
During a recent conversation concerning the growing complexity of the financial services regulatory environment, one position held firm – that legal and compliance professionals should be seen as partners in sustainability. And, in particular, insurers have been required to respond to new risks, make more substantial commitments and innovate to maintain their market share.
Flowers defeats web shop chief’s $1m dismissal claim
Craig Flowers’ FML web shop chain has defeated a $1m constructive dismissal claim by a former senior executive who was found to have “abandoned” his post following a probe into “irregularities”.
Businesses ‘stunned’ by water cut-off threat
“Stunned” Bahamian businesses in three Family Islands yesterday blasted the potential loss of water supply from Monday as “disgusting”, and said: “The government needs to step in like yesterday.”
