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Turnquest: Recovery to be slow and anaemic

The Government has not used all the economic stimulus tools available to it, the deputy prime minister revealed last night, having kept some in reserve in case the COVID-19 pandemic is "prolonged".

Virus takes jobless to 30% as major hotels shut down

THE country’s major hotels are shutting down because of the coronavirus crisis and temporarily laying off staff, with Tourism Minister Dionisio D’Aguilar saying the unemployment rate is now probably above 30 percent and expected to grow.

Farewell to the Sun King, Sol Kerzner

FAMILY, friends and political figures paid tribute this weekend to hotel tycoon and Atlantis developer Sir Sol Kerzner, who died on Saturday at the age of 84.

How my friend helped fulfill a dream for these islands

It is most difficult for me to accept that Sol Kerzner has died at the age of 84. I had the very good fortune of working with Sol from the day he assumed control and management.

Barbers and beauty salons fret over lockdown survival

Bahamian barber shops and beauty salons say they are trying to determine how they will pay the bills and survive after being placed on COVID-19 lockdown until month’s end.Adam Russell, Stylistic Barbers’ owner, told Tribune Business: “Right now I’m s

Retailer hails 'huge help' of govt lockdown change

A major Bahamian retailer has hailed the government’s decision to modify its “locked down” businesses list as “a huge help” both to its sector and the wider economy.Brent Burrows, vice-president of CBS Bahamas (Commonwealth Building Supplies), told T

More stimulus to come amid 30% jobless rate fear

The government has not used all the economic stimulus tools available to it, the deputy prime minister revealed last night, having kept some in reserve in case the COVID-19 pandemic is “prolonged”. K Peter Turnquest, pictured , in a messaged reply t

Baha Mar to close on March 25 until further notice – temporary layoffs for nonessential staff

Baha Mar will close until further notice starting March 25 at 3pm, with a temporary layoff of all nonessential staff.

UPDATED: Sol Kerzner dies age 84, PM pays tribute to ‘pioneer in the resort industry’

Hotel tycoon, business magnate and Atlantis developer Sol Kerzner has died age 84.

'Stop non-compliance' warning as Atlantis dubbed a ghost town

Bahamians were last night told they must shed “the culture of non-compliance” as “the best way” to minimise COVID-19’s projected $1bn blow to the national economy.

Construction starts to take '40-60% hit'

New construction starts will take a 40-60 percent hit, a former Bahamian Contractors Association (BCA) president predicted yesterday, with the industry unlikely to rebound until near year-end. Leonard Sands, pictured , told Tribune Business that whi

$4.4bn economic blow: 'Playbook out window'

The coronavirus and Hurricane Dorian are threatening to deal The Bahamas an “unprecedented” $4.4bn blow, with the deputy prime minister revealing yesterday: “The playbook is out the window.” K Peter Turnquest, speaking to Tribune Business after reve

Water sports sector near total shutdown

Water sports operators yesterday revealed the industry is almost completely shutdown due to the coronavirus pandemic. Kamar Chandon, general manager of KC Watersports Bahamas, told Tribune Business : “They shut down the cruise ships and stuff, so we

Economy facing $1bn bodyblow, Turnquest tells House

DESPITE a projected total economic fallout of as much as $1bn from the COVID-19 pandemic, the government has announced several relief measures for workers in the tourism industry who will be most affected by the virus’ global impact.

Dionisio has winning way

I make no secret of the fact that my favourite cabinet minister within the Minnis regime is the Hon Dionisio D’Aguilar (FNM-Free Town) our erstwhile Minister of Tourism & Aviation.

Bahamasair in schedule slash to contain losses

A Cabinet minister yesterday said Bahamasair is examining how to combine flights and slash schedules to contain losses that will inevitably “go up” amid the coronavirus pandemic. Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Bus

Wake up! 'There will be no tourists'

A Cabinet minister yesterday urged Bahamians to “grasp the simple yet inconceivable reality that there will be no tourists” visiting this nation for at least two to three months.Dionisio D’Aguilar, pictured, minister of tourism and aviation, sought i

Unions fear large cut in working hours for members

THE union representing hotel workers in the country yesterday predicted widespread work day reductions in view of the global COVID-19 pandemic, while warning that things could get worse before they get better.

We must worry about the poor

The Federal Reserve took its rate to zero and additional $700 billion in stimulus on March 15, 2020. The Federal Reserve balance sheet will be at its peak of $4.5 trillion. This will be done by purchasing assets – in this case, $500 billion in Treasury securities and $200 billion in mortgage-backed securities. The purchases will begin right away, with $40 billion in purchases set to take place on Monday, March 16, 2020.

Hilton give staff vacation 'option'

The British Colonial Hilton yesterday confirmed it has given staff the “option” of taking two weeks’ vacation leave as it joins Atlantis in seeking to reduce labour costs amid the coronavirus pandemic. Pablo Casal, the downtown Nassau resort’s gener

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