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Water Corp supplier in ‘tremendous’ costs rise

THE Water & Sewerage Corporation’s main supplier says the cost of operating its two New Providence reverse osmosis plants has increased “tremendously” over the past year due to the rise in global oil prices.

Rise and fall

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It has been a few busy weeks in the Forex (foreign exchange) markets. On Thursday, the reaction of the markets was unequivocal, and we saw a certain ruthlessness when UK prime minister, Liz Truss, had barely announced her resignation before the pound sterling was appreciating again. The 30-year UK government bond yield fell nine basis points, which means investors are now viewing those securities as less risky once again.

‘Future generations will say we did no favours’

COVID has worsened The Bahamas’ looming savings and retirement crisis, a pensions specialist warned yesterday, adding: “Future generations will say we did them no favours.”

$19.9m of meteorology equipment uninsured

DEPARTMENT of Meteorology equipment worth at least $19.9m has been left uninsured and vulnerable to loss or damage, Auditor General Terrance Bastian has revealed following a probe of operations there.

Skyguard Severe Weather Alert 20th October: Freeport

STARTS: 10/20/2022 6:15 PM EDT EXPIRES: 10/20/2022 7:45 PM EDT

BAIN ARRESTED AT PARLIAMENT: Activist and coalition members held after Rawson Square protest

ACTIVIST Lincoln Bain, along with several supporters, were arrested yesterday outside of the House of Assembly after scores of them bombarded Parliament Square demanding that the government tackle what they deemed an “immigration crisis”.

Grieving mother testifies over son’s murder in 2016

A VISIBLY distraught mother gave testimony in the Supreme Court yesterday in the murder trial of two men charged with the shooting death of her son in 2016.

Shamar Burrows leads Tigers in final year

SHAMAR Burrows enters his final year of eligibility with the Dalhousie Tigers and looks to step into a leadership role as the programme pursues its fourth consecutive Atlantic University Sport title.

Softball/volleyball notes

THE Wildcats are one win away from the title while the Marlins evened their series. Both series are scheduled to continue 7pm tonight at the Baillou Hills Complex.

COVID-19 sparked $200m private pension drawdown

Financially-stricken Bahamians drew down on more than $200m in private pension savings to ensure they survived COVID-19’s devastating economic impact, a financial executive revealed yesterday.

Minister: ‘Nothing wrong’ with the Bahamas’ bonds

A Cabinet minister yesterday asserted “there’s nothing wrong” with The Bahamas’ economic and fiscal standing even though its long-term sovereign debt is trading at greater than 40 percent discounts with yields at 18-19 percent.

FTX to hire more than 100 Bahamians for crypto work

The Bahamas’ digital assets flagship is pledging to hire more than 100 locals as crypto currency specialists among the 700-strong full-time workforce that will staff its $60m West Bay Street headquarters.

Public works inspection of cruise port

I just stopped by briefly to ask for your permission for this letter to be published because I believe that what I have observed may not have been brought to the attention of the Bahamian people.

Kai Jones, Ayton and Hield in action tonight

The 2022-23 NBA season officially tipped off last night. However, Bahamian players are scheduled to get their respective campaigns underway tonight.

Next set of basketball games at Loyola Hall on October 20

THE 2022 Bahamas Catholic Board of Education (CBE) Primary Schools Basketball Season kicked off on Friday, October 14 at Loyola Hall, Gladstone Road.

Trade deficit leaps 15.6% to $715.1m

THE Bahamas’ trade deficit increased by 15.6 percent to $715.097m during the 2022 first quarter as cross-border flows continued to rebound from the COVID-19 related restrictions of the year before.

Bahamian on board as boat intercepted

ALMOST 100 people, mostly from Haiti but including one Bahamian, who were rescued from an overcrowded boat off the Florida coast had no food or water for two days, according to the US Coast Guard.

Grand Bahama Power ‘very advanced’ on 20MW solar installation

Grand Bahama Power Company is “at a very advanced stage” in formalising four separate projects that will collectively provide 20 Mega Watts (MW) of solar generation capacity for the island’s grid.

Card spending rose 57% during COVID

Credit card spending in The Bahamas increased by 57 percent year-over-year during the peak of the COVID-19 pandemic as consumers transitioned to digital and online payments, a survey has disclosed.

COVID’s ugly reach

Nearly one in 20 people who were infected by COVID have not completely recovered. That is a six to 18 month corridor from time of infection. 42% claim to have only partially recovered from the infection. Most people recover fully from the infection, but some people develop a wide variety of long-term problems. The government needed to understand Long COVID as an essential to forming health and social care policy and supports.

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