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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.
Battle 4 Atlantis relocates to U.S.
The Bahamas’ sports tourism product continues to suffer from the fallout of the COVID-19 pandemic with several major events on the local calendar relocated or postponed. The latest casualties were Complete Sport Management’s Battle 4 Atlantis presented by Bad Boy Mowers and bd Global’s Islands of the Bahamas Showcase. Both events will be relocated to respective locations in the United States.
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.
Water potability 'progressing' in Grand Bahama
GRAND Bahama’s water potability is progressing, according to the GB Utility Company, which reports its customer base potable supply is at 70 percent.
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.
'Everything spins' on founder finding for $400m project
Sir Franklyn Wilson says "everything spins" on how quickly the Jack's Bay project can find 40 "founder" investors to kick-start its next expansion phase following Friday's Heads of Agreement signing. Making an impassioned plea for "everyone in Eleut
Dive 'institution' closed over $9m court award
A 55 year-old Bahamian diving "institution" has been forced to permanently close its doors with the loss of 15 full-time jobs after a $9m judgment was enforced against it over a customer's drowning. Matthew Whiteland, owner of Bahama Divers, which w
PETER YOUNG: Extremists have stolen the BLM banner and could end up giving Trump a lifeline
Watching on Thursday evening last week the concluding proceedings in the grounds of the White House of the four-day Republican National Convention, the hour was late and bedtime called.
Foreign reserves take $45m hit, the Central Bank reports
The Central Bank says foreign reserves contracted in the month of July by $45m and will continue to fall on the back of weak tourism demand as they also forecast the economy will continue on this path for the reminder of the year.
GB in approval for 70% water potability
The Grand Bahama Utility Company (GBUC) has received regulatory approval that deems 70 percent of the island’s water is safe to drink, making due on its $5m investment.
National debt reaches $8.24bn
The Ministry of Finance has revealed that the national debt has ballooned to $8.24bn for the fiscal year 2019/2020 in its fourth quarter fiscal snapshot. This places government debt at 68.4 percent of GDP, up from $7.527bn in fiscal year 2018/2019.
