GB airport owners to keep Dorian insurance
A senior government official yesterday confirmed the Grand Bahama International Airport’s two outgoing owners have retained the Hurricane Dorian insurance proceeds rather than financing restoration.
Infrastructure spend: Keep the politics out
Increased infrastructure spending “must not be driven by politics” if The Bahamas is to maximise investment returns from scarce resources, a governance reformer warned yesterday.
Digital transformation unit deficiencies ‘can lead to wrongdoing’
The agency responsible for the government’s digital transformation has yet to fully address admitted weaknesses in its procurement and supplier controls that “could open the door for wrongdoing”.
GB airport deal labelled ‘pivotal to Freeport survival’
A prominent Freeport hotelier yesterday said the government’s acquisition of Grand Bahama International Airport is “pivotal to the survival” of the island’s economy.
‘Be bold’: Infrastructure spend must hit 5% GDP
The government has been urged to “be bold” with reforms to kickstart post-COVID economic recovery that include more than doubling projected annual infrastructure spending to between $600m-$700m.
Ex-Bahamas broker in new US accusations
A former Bahamian broker/dealer, which held the Securities Commission at bay for more than a year, has been charged with making “millions of dollars” through violations of US federal law.
BISX Index off over 100 points in just 11 days
The Bahamas International Securities Exchange’s (BISX) All-Share Index suffered a more than 100-point drop in 11 days last month - a period coinciding with the failed CIBC FirstCaribbean deal.
Information Act critical to assess FDI risks posed
A governance reformer yesterday said freedom of information is critical to assessing foreign direct investment (FDI) risks as oil exploration opponents demanded further disclosures by the government.
Minister’s ‘serious concern’ over non-compete clauses
A Cabinet Minister yesterday voiced “serious concern” about the increasing insertion of so-called ‘non-compete clauses’ into employment contracts for hotel and tourism management executives.
Food retailers suffer up to 50% sales fall
Bahamian food retailers yesterday blamed high unemployment and reduced in consumer spending for sales declines of up to 50 percent in recent months.
Nassau cruise berths grow by ‘double digits’
A Cabinet minister yesterday said Nassau berthing requests from cruise ships have increased by “double digits” for the last six months of 2021 compared to pre-pandemic figures.
Bay Street’s ‘forgotten step child’ fear eased
A Cabinet minister last week met with Bay Street business and property owners to reassure them they will not “be a forgotten step child” in downtown Nassau’s redevelopment.
Harbour Island’s ‘compelling case’ for no cruise tourism
Harbour Island’s tourism industry “has made a compelling case” for why it should not become a cruise destination, a Cabinet minister has admitted.
Tourism to intervene over swimming pigs
A senior tourism executive yesterday pledged to intervene in the deepening stand-off over fees being charged to visit Exuma’s famed swimming pigs, adding: “We’ve got to fix that.”
Minister hopes for ‘indefinite’ home porting
A Cabinet minister has expressed hope that cruise line home porting in The Bahamas “continues indefinitely” and does not represent a short-term industry response to the COVID-19 pandemic.
