Dorian exacerbates 'huge infrastructure challenges'
The Bahamas faced “serious challenges” with aging infrastructure prior to Hurricane Dorian, the Inter-American Development Bank (IDB) said yesterday, with public investment “insufficient”.The multi-lateral lender, unveiling its Caribbean Regional Qua
Sky principal: 'I won't play dead' despite $4.2m loss
Sky Bahamas has incurred costs worth $4.2m “and counting”, it was revealed yesterday, as it continues to battle Bahamian regulators over the rejection of its Air Operator Certificate (AOC).Captain Randy Butler, the airline’s president and chief execu
Central Bank says 'healthy growth' to resume from 2021
The Central Bank yesterday forecast that The Bahamas will “resume healthy economic growth” in 2021 following a potential Dorian-induced contraction next year as rebuilding gathers pace.The banking and monetary policy regulator, unveiling a much-chang
Govt hit deficit goal at $222m
Hurricane Dorian may have rendered it somewhat academic, but the Central Bank yesterday affirmed the government hit its 2018-2019 deficit target by near-halving the “red ink” at $222.4m.The banking and monetary policy regulator, unveiling its pre-Dor
URCA: 'All must carry their fair energy share'
Energy regulators yesterday said renewable providers had “misunderstood and misinterpreted” proposed reforms designed to ensure “equitable treatment for all stakeholders”.Shevonn Cambridge, the Utilities Regulation and Competition Authority’s (URCA)
Shipyard unveils first post-Dorian dry-dock
Grand Bahama Shipyard yesterday said it has dry-docked its first vessel since re-opening shortly after Hurricane Dorian hit The Bahamas early last month. Taipei Trader , a 9,932-ton containership operated by Lomar Shipping, docked at the number thre
Bahamas promotes wealth management in New York
The Bahamas has hosted a New York breakfast briefing on how international financial centres (IFCs) can be used to grow and maintain private family wealth. The Bahamas Financial Services Board (BFSB) teamed with the Ministry of Financial Services to
Dorian flooded autos 'a disaster in waiting'
Bahamas First’s top executive has warned consumers to be alert for the recycling of Dorian-flooded vehicles back into the market as they represent “a future disaster waiting to happen”. Patrick Ward, the insurer’s president and chief executive, told
Renewable energy: URCA's revisions 'worst imaginable'
Renewable energy providers yesterday blasted proposed new regulatory guidelines as “the worst imaginable” solution that threatens to “set The Bahamas backwards as a nation”. The Sustainable Energy Association of the Bahamas (SEAB), in particular, wa
‘Managing Dorian’ fall-out critical to avoid downgrade
The Bahamas’ ability to attract high-quality investment and manage restoration costs following Dorian will be critical to avoiding a sovereign credit rating downgrade, a cabinet minister says.
Oil explorer in four additional finance offers
A Bahamas-based oil explorer has revealed that some of the four additional financing offers it has received would cover the $20m-$25m costs of its first exploratory well by themselves.Simon Potter, Bahamas Petroleum Company’s (BPC) chief executive, t
Broker's Dorian rental plans gain 'incredible momentum'
A Bahamian real estate broker says his proposed Rental Assistance Programme for Hurricane Dorian victims is gaining “incredible momentum” among potential investors. Mario Carey, principal of Better Homes and Gardens Real Estate MCR Group Bahamas, sa
Hutchison donates $500k to GB rebuild
Hutchison Ports’ three Grand Bahama business units have presented the government with a $500,000 donation specifically earmarked for the rebuilding of Grand Bahama. The donation was made on Wednesday, September 25, 2019, at the Prime Minister’s Offi
Tourism tells Canada: We're open for visitors
Top Ministry of Tourism executives last week travelled to Montreal to deliver the message that The Bahamas is open for business and ready for Canadian travellers after Hurricane Dorian. Dionisio D’Aguilar, minister of tourism, and Ellison ‘Tommy’ Tho
Firm partners with charter in Dorian relief
BahamasLocal.com partnered with the crew of the MV Impulse and the Bahamas Red Cross to deliver Dorian relief supplies to Little Abaco and East End, Grand Bahama. Determined to make an impact, they loaded the luxury yacht with 16 pallets of goods in
