Paying the price in battling COVID-19
The United Nations’ (UN) Economic Commission for Latin America and the Caribbean (ECLAC) has predicted the the economic impact from COVID-19 is expected to be more intense that the 2008 global financial crisis. The Caribbean is expected to be impacte
ACTIVTRADES: The end of the line for cruise ships?
The fallout from the coronavirus pandemic over the global economy is threatening to trigger an unprecedented depression; the latest forecast from Goldman Sachs for the United States predicts a contraction of 34 percent in GDP on the second quarter of
Govt identifies $300m in COVID-19 funding
The government has to-date identified $300m in funding it can access should the COVID-19 pandemic force it to go outside its revised post-Dorian financing structure. K Peter Turnquest, deputy prime minister, told Tribune Business : “We have lined up
NIB: Over $500,000 to tourism self-employed
The National Insurance Board (NIB) yesterday said it has paid-out more than $500,000 in the first tranche of help for self-employed persons in the tourism sector hit by the COVID-19 pandemic. The social security system, in a statement, disclosed: “T
Broker refutes regulator's 'ponzi scheme' assertions
A former Bahamas-based broker/dealer last night accused the Securities Commission of failing to understand a business model that the regulator had branded “akin to a ‘ponzi’ scheme”.Guy Gentile, principal of SureTrader and MintBroker International, t
Price regulators back ‘no gouging’ on eggs
Consumer protection regulators have confirmed there is no “price gouging” on eggs despite complaints that costs have doubled in just two weeks.
Cable Bahamas teams for cash bill payments
Cable Bahamas has teamed with a Bahamian money transmission services provider to enable customers to pay their REV bills in cash during the COVID-19 pandemic. Barry Malcom, SunCash’s director, said: “Sun Island Transfers Ltd or SunCash is very pleas
'Govt cannot save everyone'
A Cabinet minister yesterday said he was “on his knees” hoping the cruise lines’ Grand Bahama projects pull through, as he warned: “Government cannot rescue everyone from this crisis.” Dionisio D’Aguilar, pictured , minister of tourism and aviation,
New auto sales facing '50% hit' at a minimum
New car sales will take at least “a 50 percent hit” due to the COVID-19 pandemic, a major dealer is forecasting, having already slashed his orders for the next three months by some 60 percent.Fred Albury, the Bahamas Motor Dealers Association’s (BMDA
'We fell asleep' over chance of tourism freeze
The Bahamas failed to plan for the possibility of a total tourism shutdown because it was lulled “to sleep” by years of record arrivals and earnings, a former finance minister said yesterday.James Smith, also a former Central Bank governor, told Trib
'No gouging' on eggs as prices rise over 100%
A leading food retailer yesterday reassured Bahamian consumers “there’s no price gouging on eggs” despite prices increasing by “more than 100 percent” over the past two weeks. Philip Beneby, head of the Retail Grocers Association, told Tribune Busin
BTC enjoys 'uptick' in Internet demand
The Bahamas Telecommunications Company (BTC) yesterday confirmed it has seen an increase in broadband Internet subscriptions due to the COVID-19 pandemic. Garfield “Garry” Sinclair, BTC’s chief executive, told Tribune Business in an e-mail: “The dem
Mortgage Corp: Most borrowers being paid
The Bahamas Mortgage Corporation yesterday indicated it did not expect to be inundated with loan deferral applications as most borrowers are government workers who are still being paid. Philip Haven, the government-owned home lender’s managing direc
Govt: E-commerce critical to recovery
The government yesterday said its draft e-commerce policy is now being shared with industry stakeholders as a critical element in “accelerating” the country’s post COVID-19 recovery. Kwasi Thompson, pictured , minister of state for Grand Bahama, tol
IAN FERGUSON: A survival strategy for small business
The downturn in business activity as a result of the COVID-19 pandemic will lead to a long, and deep, global recession by most accounts. As a small business owner you will be forced to make drastic moves to survive. This week and next, we shall expl
