It's time for the people's time: Part 2
Establish a Sovereign Wealth Fund A sovereign wealth fund, sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or even alt
Mask producers mixed over import prohibition
Local face mask producers yesterday had a mixed reaction to the prime minister’s decision to ban the importation of non-medical rivals in a bid to stimulate domestic manufacturing. Oscar Cerna, a local tailor, told Tribune Business that the move wou
Realtor chief forecasts 20% property price fall
The Bahamas Real Estate Association’s (BREA) president yesterday forecast a 20 percent price cut across the real estate market as a result of the COVID-19 pandemic. Christine Wallace-Whitfield, pictured , told Tribune Business: “I think prices will
Top auto dealer lays-off 80 staff
A major auto dealer yesterday confirmed it is temporarily laying-off 80 staff as the industry prepares to make its case to the government for a partial opening amid the COVID-19 lockdown. Fred Albury, the Auto Mall’s principal, told Tribune Business
Tourism grapples with 'new normal'
A Cabinet minister yesterday said the tourism industry’s “contact sport” must grapple with a “new normal” focused on health and safety in a post-COVID-19 environment. Dionisio D’Aguilar, minister for tourism and aviation, told reporters outside the
Govt's $20m small business loan facility 60% oversubscribed
The government’s $20m small business support initiative has already been oversubscribed by some 60 percent, data provided to Tribune Business revealed last night.Figures supplied by the Small Business Development Centre (SBDC) showed that micro and s
Take IMF’s 6.7% growth forecast ‘with grain of salt’
The International Monetary Fund’s (IMF) projection yesterday that The Bahamas will swiftly rebound from COVID-19 despair with 6.7 percent GDP growth in 2021 “must be taken with a grain of salt”.
Realtors look for tax cuts
A prominent realtor yesterday urged the Government to slash the tax rate on property sales by 50 percent and "cut all the red tape" to stimulate "real money" inflows to The Bahamas.
Govt to 'spread' tech hub beyond Freeport
The deputy prime minister yesterday said the government will “certainly” seek to spread the Grand Bahama technology hub initiative to other islands in a bid to jumpstart the economy post-COVID-19. K Peter Turnquest, speaking to reporters outside the
It's time for the people's time
This year I turned 30. A welcome turning point in a person’s life. However, my future and that of my fellow millennials appears to be quite bleak. Imagine coming of age and kickstarting adulthood in the middle of a financial crisis, then having to ac
MOODY’S - WE SEE GROWTH NEXT YEAR
The deputy prime minister yesterday warned "there is no restart button" for fully relaunching a Bahamian economy that Moody's is projecting will grow by 2 percent next year.
Atlantis reopening? I haven’t a clue
Atlantis's top executive has warned thousands of furloughed staff members that COVID-19's uncertainties make it almost impossible "to predict" when the mega resort will re-open.
Super Value chief blasts fake 'mask seize' claim
Super Value’s chief yesterday blasted the “mischief maker” behind an e-mail falsely claiming the government seized $176,000 worth of masks from it, adding: “We need to fight the virus, not each other.”Besides “categorically denying” the assertions in
Foreign reserves not behind curb on fund transfers
The Central Bank’s governor last night denied that money transfer businesses are being restricted from conducting international transactions to help preserve The Bahamas’ foreign currency reserves.John Rolle, in an e-mailed answer to Tribune Business
Financial services faces 'catastrophic' COVID-10 fall-out
A Bahamian financial services executive has warned the COVID-19 pandemic will be “very catastrophic” for the industry, adding: “No sector of our economy will be spared.”Paul Moss, head of Dominion Management Services, warned that the global economic
