Warning new loans could be expensive
Fears have been raised that the Government's debt costs may double with any new COVID-19 foreign currency borrowings it undertakes as a result of unfavourable secondary market conditions.
In the bag - Global has port funding
Nassau Cruise Port's top executive yesterday hailed the "monumental achievement" in beating its $130m capital raising target amid the economic turmoil created by the COVID-19 pandemic.
Atlantis chief sees 'light at tunnel end'
Atlantis’s top executive says there is “light at the end of the tunnel” as the Paradise Island mega resort targets the June 15 re-opening of its Royal Towers as the first stage in a phased return. Audrey Oswell, the property’s president and managing
Govt is urged: 'Let Bahamians thrive'
The entrepreneur behind the proposed $2m restoration of Paradise Island’s lighthouse is urging the government to “get out the way and let all Bahamians thrive” in a bid to reboot the economy after COVID-19. Toby Smith, principal of Paradise Island L
Water Corp slashes debt to main supplier by $2m
The Water & Sewerage Corporation reduced the debt owed to its main BISX-listed supplier by almost $2m during April 2020 despite suffering a 61 percent revenue decline for the same month.
Energy reform still untapped resource
Reforms geared towards improving The Bahamas’ energy security are critical to building greater economic resilience and diversification. In the previous Island Insight column, I pointed out that tourism and other services-based industries are not idea
Working from home, the first coronavirus megatrend
The economic fallout from the COVID-19 containment measures is well known, with GDP contracting across the globe at a pace not seen since at least the Second World War. City centres normally effervescent with activity became almost deserted, as did t
Development Bank in digital loan execution
The Bahamas Development Bank says its investment in technology has paid-off by reducing the time taken to process COVID-19 emergency loan applications from small and medium-sized businesses. The state-owned institution, whose Cable Beach and Freepor
Gaming Board appeals '24 redundant' verdict
The Gaming Board is arguing that a Supreme Court judgment makes a key part of the Employment Act irrelevant as it appeals against the reinstatement of 24 dismissed line workers and managerial staff. The regulator, in a May 7, 2020, filing of its “no
Still-closed Family islands bewildered
Exuma’s Chamber of Commerce president last night said he was baffled that the island has not been included among those allowed to fully re-open their economies despite having no COVID-19 cases.Pedro Rolle told Tribune Business: “No explanation was gi
Webshops gearing up to challenge close order
Several web shops will take legal action over the sector’s renewed closure as early as Monday if they do not receive the desired response from the Prime Minister’s Office, a prominent QC revealed yesterday.
Family Islands ‘ready to open’
Exuma’s Chamber of Commerce chief says “there’s no reason” why all Family Islands other than Bimini should not have their full economic reopening included in the next wave of COVID-19 relaxations.
GB Power bond 'backstopped' by $60m guarantee
Grand Bahama Power Company’s Canadian parent is providing an “up to $60m guarantee” to give investors extra comfort the utility will repay $25m worth of bonds when they mature next Friday.Dave McGregor, GB Power’s chief executive, explained to Tribun
Stem cell provider in May 28 wind-up
A pioneering Freeport-based stem cell therapy provider faces being placed into Supreme Court-supervised liquidation on May 28 over a “wholly unpaid” $12m debt owed to its main lender.The failure of the Okyanos Centre for Regenerative Medicine has bee
Use COVID crisis to shatter 'protectionist dependence' on elite
The COVID-19 crisis has given The Bahamas “a fantastic opportunity” to do away with the “protectionism” surrounding foreign direct investment (FDI) and “the merchant elite”, an ex-attorney general urged yesterday. Alfred Sears QC told Tribune Busine
