Financier warns over home port ‘backdraft’
An international financier with experience in infrastructure projects in The Bahamas yesterday warned that the “backdraft” from cruise home porting can have a “sucking effect” on other types of tourism.
Delivery provider eyes ‘digital storefront’ app
An online delivery provider yesterday revealed it is creating an app to provide “digital storefronts” for small businesses struggling to develop such solutions of their own.
BFSB chief awaits talks over ‘structural reform’
A senior Bahamas Financial Services Board (BFSB) chief executive yesterday said she anticipates wide-ranging talks on “overall structural reform” to make the economy more resilient will take place shortly.
Former health official beats CIBC strike-out
A former top public health official has seen his six-figure claim against CIBC FirstCaribbean International Bank (Bahamas) survive a strike-out bid by the BISX-listed financial institution.
Insurer’s $5m payout to boost equity return
A Bahamian insurer will “significantly reduce our cost of capital” by redeeming $5m in preference shares as it awaits regulatory approval to acquire an agency owned by one of its main shareholders.
Hope Abaco’s port PPP can ‘dodge bullet’
Abaco stakeholders yesterday voiced hope that the government is not too late to “dodge a bullet” with plans to seek a public-private partnership (PPP) for the rebuilding of Marsh Harbour’s sea port.
Realtor enjoys 300% sales volume growth
A prominent Bahamian realtor says sales volumes have increased by 300 percent year-over-year during the 2021 first half, with average sales prices hitting a record $2.7m.
Financial services shed nearly 160 jobs in 2020
The Bahamian financial services industry shed almost 160 jobs in 2020, a Central Bank report has revealed, with the banking sector suffering multi-billion dollar declines in “balance sheet” and “fiduciary” assets.
100% debt ratio will ‘only partially subside’
The Central Bank is warning that The Bahamas’ near-100 percent debt-to-GDP ratio will “only partially subside” as the economy begins its recovery from COVID-19’s devastation.
BTVI president says Bahamas ‘must do better’ on education
The Bahamas Technical and Vocational Institute’s (BTVI) president says The Bahamas must produce better-qualified workers as 60 percent of employers are unable to find the staff they need.
Mortgage facilitator’s insurance expansion
A mortgage facilitator has expanded its product offering through the acquisition of an established insurance agency.
The Federal Reserve hawkish pivot
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ON Wednesday June 16 the United States Federal Reserve stunned observers, announcing the intention to start rising interest rates at some point in 2023, bringing the dot plot forward by a full year.
Bahamas First sees top ratings affirmed
Bahamas First’s “favourable operating performance” amid COVID-19’s economic stresses saw its credit and financial strength rankings upheld by the top global insurance rating agency.
Bahamas breaks aviation Frontier
FRONTIER Airlines made its first flight to Nassau on Friday, becoming the first ultra-low fare carrier to enter the Caribbean market with multiple travel days per week. Frontier will operate direct flights from Miami International Airport to Lynden Pindling International Airport (LPIA) four times a week with effect from next month.
‘It’s bouncing back with a vengeance’
Tourism was yesterday said to be “bouncing back with a vengeance” with 13,000 cruise visitors expected in the week before Independence and Nassau’s mega resorts reporting occupancies of up to 90 percent.
