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Business


  • IMF projects 1.75% growth in 2017, 2.5% in 2018

    The Executive Board of the International Monetary Fund (IMF) projected in its Article IV consultation with The Bahamas that this country's real GDP (gross domestic product) growth will pick up to 1.75 percent in 2017 and to 2.5 percent in 2018, driven in part by a strong U.S. economy, the phased ope... Read More
  • Building code one of the most ‘structurally sound and robust’ in region, says Sands

    President of the Bahamian Contractors’ Association (BCA) Leonard Sands asserted that The Bahamas’ building code is one of the most “structurally sound and robust” codes in the Caribbean. His comments came after Prime Minister Dr. Hubert Minnis asked Minister of Public Works Desmond Banniste... Read More
  • IMF recommends lower wage bill, self-sustaining public corporations

    The International Monetary Fund (IMF) Executive Board, in its consultation with The Bahamas, recommended the country, as a top priority, restore fiscal sustainability by cutting current expenditures. The government's wage bill was a top focus for the organization, as well as making public corporatio... Read More
  • Moree: Need to rationalize current tax regime before new tax

    Senior Partner at McKinney Bancroft & Hughes Brian Moree indicated that there is still a lot of work to be done with The Bahamas’ current tax regime before considering a new tax such as an income tax. Moree’s comments were in response to the International Monetary Fund’s (IMF) suggestion ... Read More
  • BTC launches national text-to-donate campaign

    Bahamas Telecommunications Company (BTC) will launch a national text-to-donate campaign drive, allowing all Bahamians to participate in fundraising efforts to assist those most affected by Hurricane Irma. The campaign, themed “Each One, Reach One”, will allow customers to make a donation to the... Read More
  • IMF: Commercial banks capitalized, still reluctant to lend

    Commercial banks in The Bahamas are “reluctant” to lend, given The Bahamas’ low growth environment, despite those banks being well capitalized, the International Monetary Fund (IMF) pointed out Wednesday. In its “Staff Concluding Statement of the 2017 Article IV Mission”, the IMF states t... Read More
  • Bimini resort could reopen end of month

    Resorts World Bimini is eyeing a reopening date of September 27. In the interim, damage assessments and cleanup efforts are ongoing. Speaking to reporters yesterday, President of Resorts World Bimini Patricia Lawrence said the resort is “trying really hard” to get employees back to work. “We... Read More
  • Bahamas Ferries expanding its fleet, exploring new routes

    Bahamas Ferries is expanding its fleet of seven vessels with a new roll-on/roll-off ship that could help the company expand its routes and improve existing ones, its chief financial officer, Stephen Thompson, said yesterday. Speaking at the announcement event for the Eleuthera Business Outlook, Tho... Read More
  • Ingraham:  Ecotourism the business model for Eleuthera

    There are opportunities for unique small businesses on Eleuthera centered around ecotourism, One Eleuthera Foundations’s Co-Founder and CEO Shaun Ingraham suggested yesterday, with more and more visitors going to the island for a less-than-traditional vacation. Ingraham, who was speaking at the l... Read More
  • IDB president offers support to Bahamas following Hurricane Irma

    Inter-American Development Bank (IDB) President Luis Alberto Moreno has offered support to The Bahamas after the recent passage of Hurricane Irma. The IDB has pledged emergency grant funds of up to $200,000 to assist with food, water, shelter and basic human needs, as well as an economic impact asse... Read More
  • Businesses referred to AG for alleged price gouging

    True to his word, Prime Minister Dr. Hubert Minnis revealed yesterday that “several” individuals and supermarkets were referred to the Office of the Attorney General for suspected acts of price gouging, as consumers rushed to prepare for the arrival of Hurricane Irma. Minnis reasserted his warn... Read More



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