Business optimism up but profits fall for 57%
Despite 57 percent of businesses suffering a decline in first-half profits, a Central Bank survey has found that nearly-two-thirds believe the economy will improve during 2019’s final months.
Bank boss warns: we must act on jobless
The Bahamas must “aspire to higher” GDP growth rates in the two to three percent range if it wants to see “new jobs gushing rather than trickling”, the Central Bank’s governor is urging.
Cut 'terrifying' bad loan rate by over 50%
The Central Bank’s governor wants to further cut the “terrifying” 8.7 percent loan delinquency rate by more than half despite it having fallen to its lowest level in a decade.While describing the consistent decline in non-performing bank loans as “ve
Caps, no interest paid on digital B$
The digital Bahamian dollar will be non-interest earning with accounts capped at a certain amount to protect the financial system’s stability, the Central Bank’s governor has revealed. John Rolle, in a briefing on 2019 first half economic developmen
'Early fall' target to ease property deals
The Central Bank is targeting “early fall” for simplifying exchange control’s involvement with foreign residential real estate purchases as a means to eliminate unnecessary red tape.John Rolle, its governor, confirmed during a briefing on 2019 first
Compliance officers meet on EU data rule's impact
Bahamian compliance officers met for a half-day seminar to discuss how new European data protection rules will impact the sourcing and safeguarding of client information.The European Union’s General Data Protection Regulation (GDPR), which came into
Skilled workforce is 'critical for tech hub
Transforming Grand Bahama into a “technology hub” involves far more than attracting investors, a Cabinet minister has conceded, with developing a skilled workforce “a critical part” of its plans.Senator Kwasi Thompson, minister of state for Grand Ba
Bahamas must avoid 'undue WTO missteps'
The Bahamas must carefully examine the “many complex challenges” presented by the World Trade Organisation (WTO) to avoid any “undue missteps” in joining, a governance reformer is urging. Robert Myers, the Organisation for Responsible Governance’s
Bahamas marketed at largest aviation event
The Bahamas had a strong presence at the world’s largest general aviation show in a bid to attract more private pilot visitors to the destination. The Ministry of Tourism and Aviation was out in full force at the 2019 Experimental Aircraft Associati
Govt's training focus to underpin tech hub
The government is focusing on education and training to help build the skilled workforce necessary to underpin its technology hub ambitions, a Cabinet minister says. Senator Kwasi Thompson, minister of state for Grand Bahama in the Office of the Pri
June 2020 target for WTO is 'aspirational'
The June 2020 target for The Bahamas to become a full WTO member is “purely aspirational” and not one that must be met at all costs, a Cabinet minister confirmed yesterday. Elsworth Johnson, newly-appointed minister of financial services, trade and
No 'wait and see' on Abaco port upgrades
Abaco is not taking a “wait and see approach” over further upgrades to its commercial shipping port despite averting the threat of a US cargo shut-down, a local MP revealed yesterday. James Albury, who is also the Abaco parliamentary secretary in th
Chemicals targeted for ban in 1,900 Bahamian buildings
A Chamber of Commerce executive yesterday hailed efforts that have identified 1,900 Bahamian buildings which contain toxic chemicals due to be banned under an international treaty. Debby Deal, who heads the chamber’s energy and environment division, p
Non-profit reforms 'big improvement'
Civil Society Bahamas’ president yesterday said the latest reforms to non-profit regulation represent “a marked improvement” that will prevent the elimination of many groups. Dr Anthony Hamilton, who heads the umbrella organisation that represents l
OECD not harmful finding may only be 'temporary reprieve'
The Clearing Banks Association’s (CGA) chairman yesterday said the OECD’s finding that The Bahamas’ tax regime is “not harmful”, while “good news”, represents only a “temporary reprieve”.Gowon Bowe, pictured, told Tribune Business: “That is a positiv
