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Colina 'well placed' against COVID-19
A BISX-listed insurer believes it is well-positioned “to withstand the uncertainties” associated with the COVID-19 pandemic after profits earned by equity shareholders rose 43 percent last year. Colina Holdings Bahamas, the life and health insurance
Auto parts suppliers: 'one day won't cut it'
Auto parts suppliers yesterday said being allowed to open one day per week during the COVID-19 pandemic “is not going to cut it” based on the heavy consumer demand all experienced.William Bastian, Big Six Auto Parts’ general manager, told Tribune Bus
Bahamas most exposed to external fund pressure
The Bahamas is the world’s most vulnerable tourism-based economy to external financing pressures, a Standard & Poor’s (S&P) study has revealed, and faces “major deterioration” in credit indicators.
EDITORIAL: The manmade disaster of BPL
WE have had our share of disasters already in The Bahamas – but a manmade one lies in wait just ahead.
Govt lines up budget cuts amid economic hardship
THE government has given guidelines to ministries and agencies on budget reductions it hopes to see while mulling over its strategy to navigate through economic hardship over the next several months, FInance Minister Peter Turnquest said yesterday.Wh
S&P: Bahamas to shrink by 16%
Standard & Poor’s (S&P) last night forecast that the Bahamian economy will shrink by an “unprecedented” 16 percent in 2020 as it further downgraded this nation’s sovereign creditworthiness.
Virus 'hampers' oil explorer fund listing
A Bahamas-based oil explorer says the London listing - and trading - of shares in an investment fund it promoted to local investors has “been significantly hampered and thus delayed” by COVID-19.Bahamas Petroleum Company (BPC), which has already dela
2,000 claims stall in system
The National Insurance Board (NIB) yesterday revealed that some 2,000 unemployment benefit claims have “stalled” because employers have failed to file the required contributions statements.
Bahamas holding off debt cost pressures
The Bahamas was the only Caribbean nation in early April to escape pressure on its bond yields amid the COVID-19 pandemic, an Inter-American Development Bank (IDB) report revealed yesterday. The IDB, in its 2020 first quarter “bulletin” on the regio
Hotel union to feed the 5,500 with 'advance'
The hotel union’s president yesterday said it has “risen to the occasion” to provide COVID-19 relief to its 5,500 members via “an advance” from the industry’s Health and Welfare Fund.Darrin Woods told Tribune Business that the Bahamas Hotel, Catering
Financial services faces 'catastrophic' COVID-10 fall-out
A Bahamian financial services executive has warned the COVID-19 pandemic will be “very catastrophic” for the industry, adding: “No sector of our economy will be spared.”Paul Moss, head of Dominion Management Services, warned that the global economic
NIB facing three times' its annual claims volumes
The National Insurance Board (NIB) has just days to process three times’ the number of benefits claims it receives in a typical year due to the COVID-19 crisis, a Cabinet minister said yesterday. Brensil Rolle, minister of the public service and nat
Inequalities of lockdown
As a (construction) owner’s representative/Project Manager in the Bahamas I spend the vast majority of my time refereeing and (trying to) keep a fair balance between some extraordinarily wealthy globe-trotting foreigners and some incredibly poor and downtrodden local construction workers (plus a fair share of legal Haitian immigrants). What has taken me some time to get my head around and put a voice to – is the glaring inequality of this lockdown.
Paying the price in battling COVID-19
The United Nations’ (UN) Economic Commission for Latin America and the Caribbean (ECLAC) has predicted the the economic impact from COVID-19 is expected to be more intense that the 2008 global financial crisis. The Caribbean is expected to be impacte
EDITORIAL: An economic crisis - but don’t forget those at the sharp end
AS the grim landmark of the nation’s first death from coronavirus was confirmed yesterday, Prime Minister Dr Hubert Minnis tried to make the country realise the scale of the problem facing us.
Paying the price in battling COVID-19
My last article analysed COVID-19’s impact, and the need for effective leadership from an economic and health perspective. I now turn to an examination of the relief measures taken to date. As this article was completed, the deputy prime minister ann
FOCOL targets cruise ship bunkering market
FOCOL Holdings was planning to penetrate Grand Bahama’s cruise ship “bunkering” market before the COVID-19 pandemic shutdown that sector and the wider economy.Sir Franklyn Wilson, the BISX-listed fuel supplier’s chairman, had told the company’s share
Businesses say - we’ll need a lot more
The Government was yesterday urged to "marry health with economics" to maximise the "phenomenal gesture" of its $60m bid to safeguard up to 10,000 jobs through tax credits and deferrals.
DPM: 'Govt running as fast as we can'
The deputy prime minister yesterday said the government was “running as fast as we can” to support Bahamians and the private sector with more than $100m in COVID-19 financial aid.K Peter Turnquest urged the private sector to have patience with the ne
PETER YOUNG: Are we doing enough to prevent economy being left in ruins?
In writing further about the coronavirus crisis - now being called the greatest ever threat to the world in peacetime - I offer comment this week on the latest developments in Europe, including Britain, and here at home as well. The crisis affecting so many countries has become nothing short of a human catastrophe and the most serious global health challenge of our times. Its effects have also had a horrifying impact on the world economy and have disrupted modern society on an unimaginable scale.
