Deficit $100m below target one month out
The government’s fiscal deficit was more than $100m below the full-year 2017-2018 target with just one month to go, the Central Bank of The Bahamas revealed yesterday.The regulator’s June economic developments report disclosed that the deficit for th
Airbnb bookings soar 37% in June
Airbnb bookings in the Bahamas soared by 37.3 percent for June 2018, with occupancy rates exceeding comparable hotel listings as the sector’s popularity continued to grow.The Central Bank of the Bahamas report on June’s economic developments disclose
Govt's Grand Lucayan purchase 'only option'
Purchasing the Grand Lucayan resort is the “only option” available to the Government, a former Port Authority (GBPA) attorney argued yesterday, as its closure has “gone on way too long”.Carey Leonard, the former GBPA in-house counsel, told Tribune Bu
Minister targets hotel investment
The Minister of Tourism has told attendees at a major resort industry conference that “when it comes to investing, it’s ‘Better in The Bahamas’”.Dionisio D’Aguilar was addressing a luncheon during the 22nd annual International African-American Hotel
Realtors turn out for $100m development
The Bahamian real estate industry turned out in force last week for Palm Cay’s reception for its $100m One Marina project, which features 84 luxury condos overlooking a marina.“Inventory is always a major concern for real estate agents and brokers, s
Tax hike 'shockwaves' hit high-end properties
Foreign investors were yesterday said to have halted construction projects, with some threatening to sell their high-end properties, as the “shockwaves” from Budget tax changes hit home.Robert Myers, the Organisation for Responsible Governance’s (ORG
Bahamas to miss 'upward swing' in GDP on VAT hike
A former finance minister fears The Bahamas may miss out “on a really good upward swing” in GDP growth as a result of the VAT rate hike and other budget measures.James Smith, pictured, also an ex-Central Bank governor, told Tribune Business that “all
Stubborn jobless rate shows 'growth focus' need
The Bahamas needs a “more significant focus” on economic growth to further dent a national unemployment rate that remains stubbornly flat - and high - at ten percent.Robert Myers, the Organisation for Responsible Governance’s (ORG) principal, yesterd
'Flights threshold' to combat rogue pilots
A Cabinet minister yesterday revealed he is pushing for a “threshold mechanism” to address a regulatory “quirk” that aids rogue pilots in the Bahamian aviation industry.Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business he wa
Oil explorer extends JV talks one month
An oil explorer has touted the one-month extension of exclusive talks with a “major oil company” over a Bahamian well joint venture as “a clear indication of progress”.Bahamas Petroleum Company (BPC), in a statement to the markets, said the unnamed o
Bahamas unblocks education qualifications with blockchain
The Bahamas has become the first country in the Caribbean and Latin American region to implement a national credentialing system using blockchain technology.The government successfully completed a pilot project, Bahamas Blockcerts, which will improve
Bank and trust sector confirms board line-up
The Deputy Prime Minister, K P Turnquest, gave the keynote address to the Association of International Banks and Trust Companies in The Bahamas (AIBT) recent Annual General Meeting.Bruno Roberts of The Private Trust Corporation, and Ivan Hooper of Wi
Govt 'talking' on national lottery
THE “conversation” has started within government on the creation of a National Lottery, according to the deputy prime minister.“I want to make millionaires, and we do that by taking risk and being creative. A National Lottery gives the opportunity to
Grand Lucayan's fate decided 'in 30 days'
Key decisions on the Grand Lucayan resort’s future will be made “in 30 days”, the deputy prime minister says, amid growing suggestions the government will be forced to step in and acquire the property.K Peter Turnquest, speaking at a recent meeting o
Compliance officers target regional unity
The Bahamas Association of Compliance Officers (BACO) newly-installed executive team is aiming to foster regional unity to ensure the financial services industry meets global standards.“Regional cohesion and assisting the financial services sector in
