Canada exports enjoy $17m duty free access boost
Almost 90 percent of The Bahamas’ exports to Canada benefited from duty-free access via the Caribbean’s free trade agreement, a Cabinet minister has revealed.
Oil explorer blasts ‘baseless’ claims over its insurance
The Bahamas Petroleum Company (BPC) yesterday blasted its opponents for “deliberate and gross misrepresentation” over suggestions its exploratory well lacks adequate insurance coverage.
Don’t ‘besiege’ courts with trade union election fights
A Supreme Court judge has urged Parliament to modernise The Bahamas’ industrial relations laws to prevent the judicial system from becoming “besieged” by trade union election battles.
Auto chief: 25% sales jump ‘if no lockdown’
A top auto dealer yesterday predicted new car sales could increase by over 25 percent this year “subject to no lockdowns” as the industry targets the 2022 second half for a full COVID-19 rebound.
COVID travel measures ‘won’t ease in any way’
A Cabinet minister last night said the government is “not minded in any way to relax the health travel protocols” despite conceding that have likely helped to “depress demand” and tourism’s revival.
'Rotation' means no Baker's Bay Mexican increase
The Bahamian Contractors Association's (BCA) chief yesterday said the latest Mexican construction workers arriving at Abaco's Baker’s Bay project will not increase its foreign labour component.
Gov't told: Press on with $150m airport upgrades
Family Island resort operators yesterday urged the Government to push ahead with its planned $150m Family Island airport upgrades given the potential to boost visitor arrivals post-COVID-19.
$400m shortfall: 'We're running out of options'
A former finance minister is warning that The Bahamas' $400m foreign currency deficit could be the start of "a quite worrisome trend", and added: "We're running out of options."
'Deck now stacked against' Bahamian tourism's rebound
The hotel union's president has voiced alarm that "the deck's being stacked against" the revival of the Bahamian tourism industry and wider economy by travel restrictions imposed in its major markets.
What to expect from the financial markets in 2021?
ActivTrades
AMONG the many twists and turns of 2020, the behaviour of the financial markets stands out as particularly fascinating and bewildering. The discrepancy observed between the state of the underlying economy and the performance of stocks and other investment assets surprised even the more seasoned observer, with major stock indices, as well as gold and Bitcoin, all reaching record highs. As Wall Street kept opening bottles of Champagne, main street struggled through an unparalleled peace-time recession characterised by record unemployment numbers and dramatic GDP contractions.
Credit bureau to hit 30% of borrowers
Up to 30 percent of Bahamian borrowers will struggle to obtain loans due to the imminent arrival of the nation's first-ever credit bureau, a top banker is warning.
Venture fund sees loan repayments drop 16%
The Government-sponsored venture capital fund has seen loan repayment sums fall by up to 16 percent due to the COVID-19 pandemic's devastating impact on clients who received debt financing.
Gov't lenders do 'cartwheels' over credit bureau's creation
Government lending and business-support institutions say they are doing "cartwheels" over the credit bureau's imminent arrival as this will enable them to better assess each borrower's risk.
Lender calls for 'smarter way' on entrepreneurship
A Bahamian lender has called for a “smarter approach to entrepreneurship" that avoids seeing money as the only solution to overcoming obstacles to business development.
Oil explorer told: 'Come clean' over unpaid fees
Oil exploration opponents yesterday urged the Government and Bahamas Petroleum Company (BPC) to "come clean" on all their commercial agreements including the latter's unpaid licence fees.
