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BBF gets funding, appeals for use of sporting facilities
The Bahamas Basketball Federation received its first funding to secure travel to the FIBA AmeriCup 2022 Qualifiers but federation president Mario Bowleg said the efforts may be hollow if the team is unable to adequately prepare for competition.
DPM: Bond attacks 'pie in sky thinking'
The deputy prime minister yesterday slammed arguments that The Bahamas' $600m bond issue was over-priced as "pie in the sky thinking" while revealing $133m in debt repayments have been delayed.
Stop 'dictating' FDI direction, banker warns
The Bahamas must be more willing to open up to foreign direct investment (FDI) in non-traditional areas to have any hope of paying-off rising US dollar debt, a top investment banker is arguing.
Mining project pledges 100% local ownership
North Andros residents and individual Bahamian investors will own 100 percent of the company that will hold some 5,200 acres targeted for an aggregate mining project, it was revealed yesterday.
BPL fuel hedge hits 30% savings target
A Cabinet minister says many consumers may not appreciate that Bahamas Power & Light's (BPL) fuel hedging strategy has already produced 30 percent savings on their total energy bill year-over-year.
Minister: Water Corp cut-offs 'won't happen'
A Cabinet minister yesterday pledged that the Water & Sewerage Corporation will not be allowed to restart delinquent residential customer disconnections, saying: "That ain't going to happen."
Central Bank 'stretch' on borrower leniency
The Central Bank was yesterday said to have given commercial banks "a stretch" by urging them to be lenient with borrowers who show signs they may be able to resume repayments in 2021.
Banker: Gov't could have got 'better than 8%'
A prominent Bahamian banker yesterday argued that the Government could have obtained an interest rate "lower than 8 percent" on its $600m bond offering had it unveiled a debt management strategy.
PAHO, International Organisation for Migration sign memorandum of understanding
THE Pan American Health Organisation and the International Organisation for Migration signed a memorandum of understanding on Friday to strengthen cooperation on health and migration in the Americas.
BOB takes $6.3m hit over Gov't downgrade
Bank of The Bahamas' was forced by the Moody's 'junk' downgrade of the Government's sovereign creditworthiness to take a $6.3m provisioning hit, its managing director said yesterday.
Ex-governor: Reserves are 'surprisingly strong'
A former Central Bank governor says The Bahamas' critical foreign currency reserves are "surprisingly strong" at a level that is around $1bn higher than he had forecast.
Gov't 'front loading' aid for reserves
The Central Bank yesterday said the Government's "front loaded" foreign currency borrowing meant the expected decline in The Bahamas' external reserves will be "delayed" until 2021.
Port's profits slump 65% during COVID
Nassau's main commercial shipping port suffered a 65 percent or $3m year-over-year profits slump during the first five-and-a-half months of the COVID-19 crisis, its top executive revealed yesterday.
Attorney fears Freeport plan 'exercise in futility'
A prominent Freeport attorney yesterday voiced fears that the latest bid to revive Freeport's economy will be "an exercise in futility" unless the Grand Bahama Port Authority's (GBPA) ownership changes.
Bahamian law firm in running for key award
A prominent Bahamian law firm has been shortlisted in The Lawyer Awards 2020's Offshore Firm of the Year category.
Marijuana bust nets $3.4m cargo
A JOINT operation with police, the Royal Bahamas Defence Force, US Coast Guard and other American agencies led to the seizure of more than $3m worth of marijuana Monday.
COVID lockdown's $1bn tourism blow
The Bahamas lost around $1bn in tourism earnings at the COVID-19 lockdown's peak as this nation became a "net payer" for travel-related services for likely the first time in its history.
Policyholders in 'huge effort' to keep insurance coverage
A major Bahamian insurer yesterday credited the "Dorian effect" for sparking "a huge effort" by companies and individuals to maintain coverage despite COVID-19's devastating financial impact.
Bahamas First in 14.3% profit fall
Bahamas First yesterday unveiled a 14.3 percent decline in total comprehensive income for the six months to end-June 2020 as reduced claims partially offset COVID-19's impact.
ActivTrades: The great markets melt-up
The financial markets have been the outstanding performers during the pandemic, seemingly benefiting from conditions that otherwise brought entire sectors of the economy to their knees.
