Bimini in 'devastating' fuel shortages blow
Bimini’s boating-reliant tourism industry was yesterday said to be facing another “devastating blow” from fuel shortages just ahead of the US Independence Day holiday weekend. Multiple resorts and marinas confirmed the island’s economy was bracing f
GB ships' waste processor in $3m expansion raise
A Freeport-based ships’ waste processor has been approved for a $3m Inter-American Development Bank (IDB) loan that will quadruple the size of the Caribbean’s first such facility.Clean Marine Group, which was founded in 2017, will also receive $1.5m
Digital B$ 'no panacea' with unreliable BPL
A digital Bahamian dollar is “no panacea” for this nation’s financial inclusion issues, the IMF has warned, especially if unreliable power supply continues to plague the Family Islands.The International Monetary Fund (IMF), in its Article IV report,
DPM: Middle class fear over IMF’s income tax
The deputy prime minister yesterday warned that following the IMF’s income tax call would likely result in “a significantly higher tax burden” for middle class Bahamians.
Sarkis in new court victory over CCA
Sarkis Izmirlian’s $2.25bn fraud and breach of contract claim against Baha Mar’s main contractor was yesterday given full clearance to proceed by a New York appeals court.
IMF queries Central Bank 'independence' over BOB
The government’s majority ownership of Bank of The Bahamas may have impaired the Central Bank’s “independence” in regulating the troubled institution, the IMF has reported.The International Monetary Fund (IMF), in its just-unveiled Article IV and fin
IMF tells banks: Don't 'penalise' merchants on debit card use
The International Monetary Fund (IMF) has urged local banks to stop “penalising” Bahamian merchants for accepting debit card payments by levying “unjustified” transaction fees. The fund, in its newly-released financial sector assessment on The Baham
Bank collapse fund at just 45% of $125m target
The fund protecting Bahamian depositors against bank failure contains just 45 percent of its desired $125m asset target, the IMF has revealed, as it called for the industry to pay more. The International Monetary Fund (IMF), in its just-released ass
Hurricane Hole 'proves' pent-up demand for PI
THE “pent up” demand for Paradise Island has been proven after two-thirds of the Hurricane Hole project’s first phase residential units went under contract within the first two weeks. Patrick Lenihan, director of sales at Waypoint Real Estate, the m
Hurricane Hole targeting largest dock in Caribbean
Hurricane Hole’s developer yesterday said its investment will increase by $20m-$30m amid plans to build the Caribbean’s largest marina at the Paradise Island destination. STERLING Global Financial executives said the project was a “couple of weeks”
Mega docks to aid yacht registry effort
Hurricane Hole’s ambition to develop the largest Caribbean marina slip could aid The Bahamas’ efforts to establish a yacht registry, the deputy prime minister said yesterday.
Sebas extends his Titans following $750,000 raise
Sebas Bastian’s securities house has extended the offering period for its Titan funds by over two weeks after the flagship vehicle so far attracted 400 investors and $750,000 in subscriptions. Hillary Deveaux, Investar Securities chairman, yesterday
Jitney drivers warn on strike
JITNEY drivers yesterday put Bahamians on notice that they plan to withdraw their services as early as this week Wednesday, telling Tribune Business: “Enough is enough”. Frederick Farrington, president of the Bahamas Unified Bus Drivers Union, told
IMF lowers Bahamas 2019 growth to 1.8%
The International Monetary Fund (IMF) last night cut The Bahamas’ projected real GDP growth for 2019 to 1.8 percent, and warned that external risks facing this country “have increased”.The fund’s executive board, in concluding its annual Article IV c
BOB: $80m in deposits lost if it collapsed
Just one-third of insurance-eligible Bank of The Bahamas (BOB) deposits would have been covered if the troubled BISX-listed institution had collapsed, the IMF revealed last night. The International Monetary Fund (IMF), which released both its Articl
