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EDITORIAL: Andros projects show our potential
LIKE buses, it seems you wait forever for a project in Andros, and then three come along at once.
‘Pure insanity’ if Andros investor ignores Freeport
A prominent QC yesterday argued it would be “pure economic insanity” if the government permits a US billionaire philanthropist to develop a free-trade zone on Andros instead of basing his project in Freeport.
Insurer: Dorian causes largest vehicle losses
Bahamas First says Hurricane Dorian’s devastation caused its “largest motor vehicle” loss ever with 538 claims producing gross losses of more $6m in that business category.The property and casualty insurer’s 2019 annual report adds that while most of
Minister Rolle: ‘I’m just not the type of mother that has favourites’
LIKE a mother with three children, Minister of Youth, Sports and Culture Lanisha Rolle said her triple portfolios will be treated the same in the allocation of funds.
Bahamas First fights off IT system hackers
A major Bahamian insurance company has revealed it almost fell victim to computer hackers “during the height” of the COVID-19 pandemic’s lockdown. Bahamas First, the property and casualty underwriter, revealed in its just-released 2019 annual report
Ministers hails 'unprecedented' $140m social protection net
A Cabinet minister yesterday hailed the 2020-2021 Budget’s expanded $140m social safety net as “an unprecedented measure for an unprecedented time”. Frankie Campbell, minister for social services and urban development, told the House of Assembly dur
Doctors Hospital in 'second record' before COVID-19
Doctors Hospital says a 30.4 percent cut in losses at its Blake Road facility, combined with increased patient revenues, drove a “second consecutive year of record” financial results during the 12 months to end-January. The medical services provider
Turnquest defends budgeting policy
DEPUTY Prime Minister and Minister of Finance Peter Turnquest said government debt under the Minnis administration has increased by $977 million since taking office. He was speaking during the start of the 2020/2021 budget debate yesterday and was r
Wilson sets sights on COVID ‘fails’
A Bahamian insurer’s parent is targeting companies struggling to rebound from COVID-19, its chairman has revealed, after its corporate structure provided a $2.33m buffer against Hurricane Dorian claims payouts.
Bahamians urged: Abandon foreign investor 'xenophobia'
Bahamians must abandon their “xenophobic and schizophrenic” attitude towards foreign investors if the economy is to survive the devastation inflicted by COVID-19, a prominent doctor warned yesterday.Dr Johnathan Rodgers, pictured, the “eye doctor” an
Analyst: VAT hike to 15% 'inevitable'
A leading financial analyst says a VAT rate hike to 15 percent is “inevitable” within two years of the next election as he called for a shift to a more progressive system via personal and corporate income tax.Anthony Ferguson, CFAL’s principal, speak
'No justice, no peace': Protests resume in NYC for 4th day
NEW YORK (AP) — New York City officials were looking for a peaceful way forward as the city entered a fourth day of protests against police brutality that have left police cars burned, and led to the arrest of hundreds of people.
Colina in $2.3m loss as COVID-19 bites
A BISX-listed life and health insurer yesterday disclosed that ordinary shareholders suffered a $2.3m net loss for the 2020 first quarter as COVID-19’s economic impact started to bite. Colina Holdings Bahamas, the parent company for Colina Insurance
Economy's shrink to exceed $1.3bn deficit
The Bahamian economy will this year shrink by a greater amount than the government’s projected $1.3bn deficit for the upcoming 2020-2021 fiscal year, the deputy prime minister revealed yesterday.K Peter Turnquest, unveiling the 2020-2021 budget in th
PLP slams 2020/21 Budget
THE Official Opposition yesterday slammed the measures outlined in the Minnis administration’s 2020/2021 budget to aid the country’s economic recovery amid the COVID-19 crisis, branding it as “the worse budget communication in living memory.”
THE BUDGET: Govt revenues set for $900m drop, tax relief measures introduced
DEPUTY Prime Minister and Minister of Finance Peter Turnquest revealed today that there will be a $900m drop in government revenues resulting in a national deficit of $1.3 billion by June next year, brought on by Hurricane Dorian and the COVID-19 pandemic.
Govt plans civil service 'freeze'
The government is planning to freeze all civil service hirings, promotions and salary increases in a bid to limit the size of a potentially massive 2020-2021 fiscal deficit, it was revealed last night.Kimsley Ferguson, the Bahamas Public Service Unio
DIANE PHILLIPS: A bit of common sense and we can unleash at least one economic tiger
This is one of those good news, bad news stories. The difference in this one is the bad news has an easy fix. Here’s how the story begins.
Port suffers 40% May volume fall
Nassau’s main commercial shipping port yesterday predicted it will suffer a “flat” 2020 full year after container import volumes for May to-date dropped by around 40 percent compared to the prior year.Dion Bethell, Arawak Port Development Company’s (
FOCOL scouting for capital raise
BISX-listed FOCOL Holdings is on a capital markets “reconnaissance” mission to determine its best finance-raising options as it “very aggressively” seeks to position itself for growth post-COVID-19. Sir Franklyn Wilson, the company’s chairman, told
