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Central Bank reviews $250m investment currency reforms
The Central Bank’s governor yesterday foreshadowed reforms to protect Bahamian retail investors from potential “headwinds” in an overseas investments market that is this year on track to exceed 2022’s $250m outflow.
Inflation’s high but ‘not as frightening’
Inflation “may not be as frightening as it was a year to 18 months ago”, a governance reformer argued yesterday, despite food and beverage costs rising by almost 13 percent during the year to April 2023.
BISX-listed firm pledges qualified audit ‘clear up’
A BISX-listed company’s top executive yesterday pledged that accounting woes which led to auditors issuing a “qualified” opinion on its 2021 full-year results will be “cleared up” in time for this year’s report.
AID 'most concerned' over BPL rate hikes
A major Bahamian retailer yesterday voiced optimism that 2023 will be "marginally better" than last year while revealing it is "most concerned" about Bahamas Power & Light's (BPL) rate hikes depressing consumer spending.
BISX-listed Fund eyes restart for dividends after 15-year gap
The BISX-listed Bahamas Property Fund’s Board will within the next month receive a recommendation to resume investor dividend payments after a 15-year hiatus following completion of its $8m preference share financing.
‘No more time to avoid pain’ over NIB reforms
Governance reformers yesterday warned “there is no more time to avoid the pain” associated with saving the National Insurance Board (NIB) as they called for “a clear plan” of rescue that will gain widespread buy-in from society.
$700m optimism Bahamas can ‘take oil price pressure’
A “$700m-plus” increase in US dollar purchases from the commercial banks during the 2022 first quarter has given the Central Bank’s governor optimism The Bahamas “can absorb” much of the pressure from high global prices.
Aircraft registry committee to be formed this month
A joint private-public sector committee is due to be formed by end-September to pursue the development of a Bahamian aircraft registry, the attorney spearheading the project yesterday saying its creation would “open the doors to the realms of all possibilities”.
Bahamas waste 'off 26%' despite profits tripling
Despite almost tripling its 2012 half-year profits Bahamas Waste yesterday said its bottom line came in 26 per cent below projections, with the second half outlook clouded by a 40 per cent reduction in its government residential garbage collection rates.
Bahamas close to covering 50% of infrastructure gap
The Bahamas is close to covering 50 per cent of the $2.1 billion infrastructure gap identified five years ago by a leading accounting firm, a senior executive yesterday saying it will be impossible for this nation to meet all its needs without private investment capital.
Colina Fund aiming to grow assets up to $5m
COLINA Real Estate Fund’s president yesterday said he was aiming to grow its asset base by up to $5 million, or more than 40 per cent, over the next five years as its moves to expand its property portfolio and diversify rental income streams.
Banks: 'No dent' in bad loans for 12-18 months
BAHAMIAN commercial banks expect that high liquidity and non-performing loan levels, the latter of which now exceeds 19 per cent, will be "maintained for another 12-18 months" at least unless something sparks a dramatic reduction in unemployment.
$50m project to 'strongly target international market
More than $50 million will have been invested into an eastern New Providence real estate development by year-end, its chief executive telling Tribune Business
Renewable firm offers Bahamians 20% equity option
Baha Mar's renewable energy partner is giving Bahamian investors buying into its $3 million promissory note offering an option to convert their investment into a
Activists fear ‘total decimation’ of PI site by Royal Caribbean
BAHAMIAN environmental activists yesterday reiterated fears that Royal Caribbean’s $100m beach club project will cause “total decimation” of western Paradise Island despite assurances to the contrary.
WORLD VIEW: Decimation of vulnerable nations inevitable if global warming continues on present trend
JOHN Kerry, former US Secretary of State and current US Special Envoy on Climate Change matters, told the world’s Ambassadors at a meeting in Washington, on May 10, that “there is no way” of keeping the rise in global temperatures to 1.5 degrees Celsius unless CO2 emissions are drastically reduced.
$250m cruise port: ‘We’ll help Long Island flourish’
The proposed $250m Long Island cruise port will handle up to 12,000 persons daily at full build-out, one of its principals revealed yesterday, adding: “Our goal is to help Long Island flourish.”
DIANE PHILLIPS: Influencer wariness
THE UNINTENTIONAL IMPACT OF THE COLLAPSE OF FTX
RONALDO, the drop-dead handsome, talented Portuguese footballer, gets $1.6 million per Instagram post, another $800,000+ per Tweet. When he vouches for dandruff-beating Clear shampoo and hair products, enough of his 443 million followers scamper to scoop up bottles off the shelves that he’s worth every penny of the funds he earns as an influencer.
KERZNER FORECLOSE WOULD COST $230M
By NEIL HARTNELL Tribune Business Editor Some $230 million in costs would be incurred just to foreclose on Kerzner International's Paradise Island properties, a Delaware judge questioning why Brookfield Asset Management should be the only one to potentia
Spurs boost Champs League hopes by beating Swansea
LONDON (AP) -- Tottenham beat Swansea 3-1 Sunday to close within goal difference of Arsenal for third place in the English Premier League. Tottenham's win also helped it keep Chelsea and Newcastle at arm's length in the race to finish in the Champions Leag
