Sands: COVID infection 'knock out' for tourism
Dr Duane Sands yesterday warned that current COVID-19 infection rates would "knock us out of the tourism market" as he called for a "radical change" in The Bahamas' approach to fighting the virus.
Tourism operators back quarantine replacement
Hotel and marina operators yesterday urged that more rapid COVID-19 testing and health cards replace the mandatory 14-day quarantine that is “hampering business” for the tourism industry.
Gov't 'front loading' aid for reserves
The Central Bank yesterday said the Government's "front loaded" foreign currency borrowing meant the expected decline in The Bahamas' external reserves will be "delayed" until 2021.
Online delivery providers see business flatten out
Online delivery service providers yesterday said they have experienced no major uptick in demand since COVID-19 restrictions were relaxed on restaurants and other sectors over the past month.
Gov't seeks 'more robust' e-procurement response
The Government yesterday said it is seeking a "more robust" private sector response after just 30.6 percent of VAT registrants signed up to an electronic procurement initiative that is set to "ramp up".
BFSB chief shortlisted for international awards
The Bahamas Financial Services Board's (BFSB) chief executive has been shortlisted for honours in two categories at the 21st International Investment Awards.
Dollarisation must 'be on the table'
An ex-attorney general says full dollarisation of the Bahamian economy must "be on the table" as the country faces "a tipping point" due to the devastation inflicted by the COVID-19 pandemic.
Increased testing eyed as tourism's quarantine answer
A Cabinet minister yesterday signalled that post-arrival COVID-19 testing for tourists may be part of the solution to "easing" the mandatory 14-day quarantine impediment to the industry's revival.
Oil explorer targets pre-Christmas well
The Bahamas may gain an exploratory oil well Christmas 'present' for 2020, it was confirmed yesterday, as the project's proponents urged environmental activists to give "a fair representation of the facts".
Stem cell provider suffered $30m loss
A pioneering Freeport-based stem cell therapy provider lost more than $30m over its lifetime prior to being placed in Supreme Court supervision, it can be revealed.
The FinCEN files leak and its impact on the banking sector
ActivTrades
Last Sunday, September 20, BuzzFeed News International, a consortium of investigative journalists, published their analysis of a batch of leaked documents from the Financial Crimes Enforcement Network (FinCEN). The leaked files give account of more than 200,000 suspicious financial transaction reports, occurred between 2000 and 2017, that were sent by banks all over the world to the US authorities.
End-October targeted for digital B$ national roll-out
Bahamians are seeking greater security assurances around online transactions, the Central Bank has revealed, as it readies for the digital currency's national roll-out beginning on October 20.
Exploiting COVID to make tourism more sustainable
World Tourism Day, celebrated on September 27, comes at a sobering time for the Caribbean. Travel is unlikely to return to normal for another year, or even well into 2022. We need to make this a transformational moment to emerge from the pandemic stronger. We must move away from being merely tourist dependent. We need to harness the industry to make our islands safer, greener and more resilient.
DPM indicates Gov't will continue COVID support
The deputy prime minister yesterday indicated the Government's COVID-19 support initiatives will likely extend beyond their end-September expiry given the delayed re-openings of many major hotels.
Family Islands see no rebound until mid-2021
Family Island businesses have described 2020 as "a wash" despite their recent re-opening and believe economic conditions will not rebound until mid-2021 at the earliest.
