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Credit access slumps to under 50% of GDP
Credit to the private sector continued its “long-term decline” during the COVID-19 pandemic to drop below a sum equivalent to 50 percent of GDP, Moody’s has revealed.
PETER YOUNG: We need to be tough on illegal immigration but obey the law
THE most recent comment by Senator Ted Cruz about the ongoing crisis on the US border with Mexico says it all.
APD container volumes 1,100 below pre-COVID
New Providence’s commercial shipping industry has suffered “no significant” impact from global supply chain disruptions with container volumes up 11 percent for the two months to end-August.
Air arrivals now 76% of pre-COVID figures
Air arrivals to The Bahamas in July rebounded to over three-quarters of their pre-COVID levels, the Central Bank revealed yesterday, while the drop-off in vacation rental demand eased in August.
BOB targeting ‘real growth, not loan loss management’
Bank of The Bahamas yesterday said it was seeking to drive sustained profitability “from real growth as opposed to managing delinquency provisions” after enjoying a positive $14m bottom line swing.
Miller’s Mario’s re-open faces receivership block
An ex-Cabinet minister’s ambitions to re-open his family’s business are likely to be blocked by the Supreme Court-appointed receivers for the Bank of The Bahamas’ (BOB) bail-out vehicle.
Brewery chief: Pre-COVID revenues not back till 2023
Commonwealth Brewery’s managing director has warned shareholders not to expect the group’s revenues to fully recover from COVID-19 “before 2023” following a $38.2m drop-off last year.
Culmer blasts ‘Gussie Mae’ Cabinet
FREE National Movement chairman Carl Culmer criticised the Davis administration’s “Gussie Mae” Cabinet, which he says contradicts the Progressive Liberal Party’s promises of fiscal prudence.
Bahamian coaches discuss pressing issues affecting local sports
SOME of the most influential members of the Bahamian coaching fraternity came together to discuss some of the most pressing issues affecting local sports on both the local and international levels.
PM urged: ‘Flip switch’ over true meritocracy
The Prime Minister was yesterday urged to “flip the switch” and transform The Bahamas from a political patronage-based system to a meritocracy, an ex-political leader warning: “We can’t afford for them to fail.”
Chisholm Jr cools down
AFTER enjoying what many consider to be a “batter’s delight” on Monday night, Bahamian professional baseball player Jasrado ‘Jazz’ Chisholm Jr cooled down as his Miami Marlins had their two-game winning streak snapped in back-to-back nights last night in Major League Baseball.
Moody’s throws wrench into PLP’s VAT cut plan
The Davis administration’s pledge to slash the VAT rate to 10 percent has been undermined by Moody’s downgrade of The Bahamas’ creditworthiness, Tribune Business was told yesterday.
Businesses ‘test water’ over extra night hours
Super Value’s principal yesterday said the supermarket chain plans to “test the waters” with 8pm closings after the nightly curfew was eased but voiced scepticism the move would increase sales.
National Trust opposes cruise sector expansion
The Bahamas National Trust (BNT) has placed itself at odds with a cornerstone of the Government’s economic growth strategy by voicing its opposition to the cruise industry’s expansion in The Bahamas.
Mitchell off to quick start with Panthers
Elijah Mitchell continues his stellar early season play for the Birmingham-Southern Panthers men’s soccer programme and has scored three points in his first two games.
Bahamas needing ‘small miracle’ to avoid austerity
A former finance minister yesterday warned that Bahamians must hope “a small miracle happens” if the country is to avoid harsh post-COVID austerity measures and low growth in coming years.
‘Right this ship in the fastest possible time’
The Bahamas must “right this ship in the shortest possible time” to show creditors it has the post-COVID economic and fiscal crisis under control, a local economist urged yesterday.
National debt breaks $10bn
The Government last night confirmed that The Bahamas’ national debt had breached the $10bn mark due to the borrowing blow-out inflicted by the combination of COVID-19 and Hurricane Dorian.
Suddenly, we have an easy choice
Last week was an epiphany to some. But the shocking allegations of conflicts of interest by members of the present government (and their insulting, but predictable refusal to adequately address them by shifting the discussion back to the PLP) should have at least one positive effect.
Kalik maker sees profitability return
Commonwealth Brewery produced a more-than $7.32m bottom line reversal to return to profitability in the 2021 second quarter, with its revival aided by relaxed COVID restrictions and a more open economy.
