Target '30-40%' of food needs from local farmers
Bahamian farmers would be able to “ramp up” production to supply 30-40 percent of this nation’s food needs within three years if the government provides the necessary funding and support.Caron Shepherd, president of the newly-formed Bahamas Agro Entr
Food supply chain in lockdown 'strain'
A Bahamian bread supplier yesterday revealed that the government’s total weekend lockdown had disrupted production to the extent that fulfilling orders by major retailers was impacted. Kimani Smith, Purity Bakery’s general manager, told Tribune Busine
NIB facing three times' its annual claims volumes
The National Insurance Board (NIB) has just days to process three times’ the number of benefits claims it receives in a typical year due to the COVID-19 crisis, a Cabinet minister said yesterday. Brensil Rolle, minister of the public service and nat
'Crème de la crème' over Cayman deal
A Bahamian insurer is poised to become a “crème de la crème” operator, its chairman argued yesterday, after teaming with a Caribbean partner to pull-off a Cayman Islands acquisition.Sir Franklyn Wilson told Tribune Business that RoyalStar Assurance’s
Consumers face 'all out war' to restock
Food retailers yesterday said Bahamians are “abiding” by the government’s new shopping list protocol even though the upcoming five-day lockdown means many face “an all-out war” to restock. Bradley Rolle, Centreville Food Market’s general manager, to
Govt to 'accelerate' local food production
The government is allocating $1.627m “to accelerate food production” through various measures designed to reduce The Bahamas’ dependence on imports, a Cabinet minister said yesterday. Michael Pintard, minister of agriculture and marine resources, to
E-commerce providers in 75% demand uptick
E-commerce businesses have seen a dramatic spike in demand for their services as they try to keep pace with the influx of new customers amid the COVID-19 lockdown. Ryan Turnquest, owner of Discount Distributors, the manager of the produceexpresss.com
‘Laying the staff off worst day of my life’
A major Bahamian hardware retailer's principal yesterday said it was "the worst decision I've had to make in my life" to temporarily lay-off nearly 70 staff in response to the COVID-19 pandemic.
‘Lockdown directive left us in chaos'
Super Value's principal yesterday said inadequate warning of the weekend lockdown caused late Friday "chaos" at food stores with police officers even threatening to shoot unless persons went home.
$700m needed to support up to 100,000 jobless
The government needs to borrow $700m from the domestic banking system to support household incomes given that the jobless total may reach six-figures, a Bahamian banker warned yesterday.Julian Brown, pictured, president and chief executive of BISX-li
Bahamas needs 'asue mentality' for its recovery
The Bahamas must “pool resources like never before” if it is to successfully jump-start the economy once COVID-19 has passed, a banker urge yesterday, adding: “We need that asue mentality.”Gowon Bowe, pictured, Fidelity Bank (Bahamas) chief financial
COVID-19 to 'absolutely' cause business closures
A Chamber of Commerce director has warned there will “absolutely” be permanent business closures across the Bahamian economy once it emerges from the COVID-19 pandemic. Tara Morley, who is also the Bahamas Federation of Retailers (BFR) co-president,
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
