Govt ‘very close’ on Lucayan re-opening
A Cabinet minister yesterday said the Government is “very close” to deciding when the Grand Lucayan hotel will reopen after it missed the original February 1 timeline set by the resort's Board.
Minister disputes IMF over jobless benefits
A Cabinet minister has disputed assertions by the International Monetary Fund (IMF) that up to 13,500 "informal economy" workers may have been unable to obtain COVID unemployment benefits.
Bahamian excursion firms hit foreign tax 'imbalance'
Bahamian excursion operators are again accusing foreign charter vessels of failing to pay their fair share in taxes and leaving them at a competitive disadvantage.
Sky chief: COVID-19 sickness hit $28m ‘sham loan’ defence
Sky Bahamas’ former principal says he failed to meet the deadline for filing a defence to the $28m “bogus loan conspiracy” claims against him because he contracted COVID-19.
No automatic lending rise via Central Bank ‘shackles’ ease
The Central Bank’s move to lift “the shackles” on lending limits does not necessarily mean borrowers will be able to obtain extra credit, commercial bank chiefs warned yesterday.
‘True extent’ of loan delinquency soon revealed
The Central Bank’s governor yesterday warned that the “true extent” of COVID-19 loan delinquencies will soon reveal itself as the final 8.5 percent of credit balances in deferral exit these arrangements.
Tourism return to pre-COVID peak in 2023
The start of tourism’s revival has been “pushed back” beyond the peak winter season, the Central Bank’s governor warned yesterday, with a return to top performance not expected until 2023.
‘No delusions’ on foreign reserves
The Central Bank has “no delusions” over an external reserves mix that will likely fall below pre-pandemic levels of $1.5bn prior to COVID-19 recovery starting, its governor said yesterday.
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Governor: When will the penny drop?
The Central Bank's governor yesterday said the speed at which Bahamians are redeeming one-cent coins is presently below his expectations with less than $1m worth handed in to-date.
BPC DEMANDS $200K FROM ACTIVIST OPPONENTS
The Bahamas Petroleum Company (BPC) is demanding that environmental activists lodge a $200,000 bond to cover its legal costs associated with defending their Judicial Review action.
RBC OPENS NEW OFFICE AT ALBANY
Royal Bank of Canada (RBC) has moved closer to its high net worth clients by opening an office at Albany to serve such customers.
COVID cuts corporate revenues by up to 70%
Corporate Bahamas saw the COVID-19 pandemic slash its 2020 revenues by up to 70 percent, with business licence filings placing the average fall-off between 40 to 50 percent.
Govt backs ‘mandatory’ property insurance call
The government has “agreed” that property insurance must be mandatory throughout The Bahamas with Dorian-related reinsurance inflows giving the external reserves a $1.3bn boost.
Revenue gap ‘shrinks’ but deficit still $736m
Tourism and the economy’s gradual re-opening enabled the government to narrow the gap between its revenue forecasts and outturn despite a $736.1m first half deficit, it was revealed yesterday.
