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Bahamas trade deficit up $325m at five-year high
The Bahamas' trade deficit expanded by $314.6m or 10.7 percent during 2022 to hit a five-year high of $3.254bn, it was reveled yesterday, as inflation and higher global oil prices caused import costs to soar.
Govt to remove shanty homes via building regulations act
ATTORNEY General Ryan Pinder said the Davis administration would demolish shanty town structures using the process outlined in the Buildings Regulation Act after the Supreme Court failed to deliver a favourable result to the government last week.
FACE TO FACE: The Lindroth family; Bahamian at heart
HE was just 14 months old when he first set foot on Bahamian soil. Walking with the pitter patter that toddlers do, Magnus Lindroth wiggled his toes in the sand and got his feet wet on what is now called Paradise Island. Here, his views of the world would be shaped as he basked in island life.
Restaurant crowdfunder targeting $2.4m in sales
A restaurant entrepreneur yesterday said he is targeting $2.4m in total sales for 2023 as he mulls opening a third location on Carmichael Road.
'Improve service quality before rolling out 5G'
Bahamian businesses and consumers want their communications providers to first focus on improving the quality and reliability of existing services before exploring the introduction of 5G (fifth generation) technology.
FNM Deputy hits out at amendment to security branch members' medical insurance policy
FREE National Movement Deputy Leader Shanendon Cartwright called government’s amendment to the medical insurance policy for security branch members “disgraceful and heartless”.
US court awards $203m in damages, legal fees to Louis Bacon in defamation case against Peter Nygard
A NEW York court has awarded over $203m in damages and legal fees to billionaire hedge fund founder Louis Bacon in a defamation case against his former Lyford Cay neighbour, Peter Nygard, according to US reports.
Eric Wiberg – 20 accidents at sea off New Providence
NEW Providence saw over 20 World War II aircraft ditch, crash, and explode into its adjacent waters. Most of these were to the south of the island, east, and north, and depended on direction of the winds, which air field was used, and complex night-time exercises using extremely bright Leigh Lights, and flying in formation. Mechanical failures from aircraft just delivered from American factories played a role as well.
'Real life consequences': Fidelity's $560k Moody's hit
The Government's declining creditworthiness has sparked "real life consequences" for a BISX-listed bank by forcing it to take a "much bigger than expected" $560,000 hit in its 2022 full-year results.
EDITORIAL: Court ruling shows up process flaws
THE government has won the right to demolish a grand total of two shanty town homes. Two. Not two hundred. Not two thousand. Just two.
SHANTY WIN - BUT FOR JUST TWO HOMES: OAG sought demolition for more than 260 shanty sites in Nassau and Abaco
CHIEF Justice Ian Winder ordered the demolition of shanty town structures belonging to just two people in The Bahamas yesterday, far fewer than the government had sought.
AML loses receiver bid over attorney's assets
An attorney and grandson of Sir Milo Butler has successfully fought-off a BISX-listed retail group's bid to appoint a receiver over his 25 percent interest in the family's trust.
Minister: BAMSI no longer 'wasteland'
BAMSI is now thriving and fruitful again, according to Agriculture and Marine Resources Minister Clay Sweeting, who reported that it has almost made a complete turnaround.
Governor trims growth forecast ‘closer to 4%’
The Bahamas’ stopover visitor numbers rebounded to 97 percent of pre-COVID levels in the 2023 first quarter, the Central Bank’s governor said yesterday, while slightly trimming his full-year economic growth forecast.
Lawyers for Nygard seek to avoid US extradition
PETER Nygard’s lawyers expressed concerns for his health and safety while urging appellate judges in Canada to quash an order to extradite the former fashion mogul to the United States to face sex trafficking and racketeering charges.
BTC makes its presence felt on Exuma at National Family Island Regatta
BTC officially kicked off its support of the National Family Island Regatta with a $10,000 sponsorship of Exuma’s 67th regatta held April 18-22 in George Town.
INSIGHT – A JOURNALIST’S VIEW OF INDIA: Emerging technological powerhouse struggles with pollution and poverty
FROM its rich history to its colourful heritage and diverse culture, India has a lot to offer. It was a fact that I became increasingly aware of each day during my visit to the country last month.
Downtown ‘catalyst’ beats goal by $11m
The Nassau Cruise Port’s overhaul is “already serving as a catalyst” for fresh investment in downtown, its top executive has asserted, after its recent bond refinancing was oversubscribed by almost $11m to hit $145m.
Baha Mar teases Melia plan as volumes up 20%
Baha Mar’s president yesterday hailed an “extraordinary first quarter” and “record March”, with 2023 business volumes up 20 percent year-over-year, as he revealed plans to redevelop the still-closed Melia resort will be unveiled imminently.
Nassau/PI hotels see 35% ‘business on books’ jump
Nassau/Paradise Island hotels are eyeing a 35 percent year-over-year increase in “business on the books” for 2023, it was disclosed yesterday, with “loaded” airline seats through June also up on 2022.
