Finance

May 2022 Monthly Fiscal Summary Report
May 2022 Monthly Fiscal Summary Report

August 09, 2022

May Revenues Increase $33.0 million Over Prior Year As Economy Continues to Rebound

The Ministry of Finance is pleased to release its monthly fiscal report on Government operations for the month of May 2022, as mandated by the Public Finance Management Act, 2021.

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Colina Agents Earn Global Financial Services Professional Designation
Colina Agents Earn Global Financial Services Professional Designation

August 08, 2022

After working tirelessly over the past four years, some of Colina’s top sales representatives received their Global Financial Services Professional (GFSP) designation. The milestone was celebrated at a luncheon and awards ceremony at Graycliff Restaurant, West Hill Street.

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Colina Agents Earn Global Financial Services Professional Designation
Colina Agents Earn Global Financial Services Professional Designation

August 08, 2022

After working tirelessly over the past four years, some of Colina’s top sales representatives received their Global Financial Services Professional (GFSP) designation. The milestone was celebrated at a luncheon and awards ceremony at Graycliff Restaurant, West Hill Street.

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Senators in Community Outreach at FOAM
Senators in Community Outreach at FOAM

August 08, 2022

Members of the Bahamas Senate rendered community outreach in the Nassau Village community by presenting a cheque to support the work F.O.A.M. (Families Of All Murder Victims) organization, led by Ms. Candy Gibson, on August 5, 2022 at F.O.A.M's offices.

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Relief as gas prices start to tumble
Relief as gas prices start to tumble

August 04, 2022

WITH a marked decrease in gas prices this week, petroleum retailers are hoping the reduction will continue.

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2.4 million visitors in the first five months of 2022
2.4 million visitors in the first five months of 2022

August 03, 2022

Tourist arrivals grew to 2.43 million between January and April this year, the most recent data from the Ministry of Tourism revealed. Visitors that arrived by sea made up the majority of tourists so far this year, accounting for 1.8 million passengers; while stopover (air) arrivals amounted to just under 600,000 passengers.

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Rolle: Central Bank addressing 'pain points' surrounding elimination of checks
Rolle: Central Bank addressing 'pain points' surrounding elimination of checks

August 03, 2022

Central Bank Governor John Rolle said yesterday that the bank is "very cognizant of the pain points that need to be addressed", particularly surrounding electronic payments in lieu of checks. He was responding to questions posed by Guardian Business regarding concerns of the private sector surrounding the elimination of checks.

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No relief in sight
No relief in sight

August 03, 2022

Don't expect any immediate relief from the high level of inflation. That's the message that came from the Central Bank of The Bahamas yesterday as it released its latest economic and financial developments report.

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Debt Management Office Releases Third Statistical Report
Debt Management Office Releases Third Statistical Report

July 31, 2022

The Debt Management Office (the “DMO”) of the Ministry of Finance is mandated under Section 61 of the Public Debt Management Act, 2021 (the “Act”), passed by Parliament in March and enacted in July, to prepare and publish public debt statistical bulletins (“PDSB”), no later than thirty calendar days after the end of each quarter of the fiscal year.

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Haiti steps in for funeral costs
Haiti steps in for funeral costs

July 29, 2022

ACTIVIST Louby Georges said the Haitian government has committed to cover the burial costs of those who perished at sea after their boat capsized in waters off New Providence earlier this week.

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Govt not yet concerned US slowdown would disrupt tourism
Govt not yet concerned US slowdown would disrupt tourism

July 29, 2022

The government is not yet concerned that high inflation and a slowing US economy will disrupt the upward trend in tourism numbers, said Minister of Economic Affairs Michael Halkitis.

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Bowe: Significant financing possibilities in Rothschild engagement 
Bowe: Significant financing possibilities in Rothschild engagement 

July 29, 2022

Chief Executive Officer of Fidelity Bank Gowon Bowe said the government's engagement of Rothschild & Co. to help manage its debt portfolio could lead to significant financing possibilities for The Bahamas, however, he warned that the country must not be seen to be relying on the firm to craft a debt management strategy.

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Global award for PM
Global award for PM

July 28, 2022

PRIME Minister Philip 'Brave' Davis yesterday accepted the 2022 Water and Energy Exchange (WEX) global award in the category of innovation and financial partnership.

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Thompson: What happened to VAT-free holiday periods
Thompson: What happened to VAT-free holiday periods?

July 28, 2022

KWASI Thompson, MP for East Grand Bahama, has called on the Government to provide timelines for when it will announce dates for "critical" VAT-free initiatives that would provide savings to Bahamians locally.

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Real estate magnate urges serious discussion on Family Islands land use
Real estate magnate urges serious discussion on Family Islands land use

July 28, 2022

Real estate mogul Mario Carey wants a national conversation on how unused land on the Family Islands could be used to stir-up economic activity and slow brain drain in the country.

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500k needed to pay beach contractors
$500k needed to pay beach contractors

July 26, 2022

MCKELL Bonaby, executive chairman at Bahamas Public Parks and Public Beaches Authority, says more than half a million dollars is owed to contract workers.

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Minimum wage proposal sent to Cabinet
Minimum wage proposal sent to Cabinet

July 19, 2022

AFTER months of research, Robert Farquharson, deputy chairman of the National Tripartite Council, said the body has submitted its recommendations on the national minimum wage increase to the government.

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Funds set to resolve airport dispute
Funds set to resolve airport dispute

July 14, 2022

TOURISM, Investments and Aviation Minister Chester Cooper says the government has approved funding to honour all agreed terms of an industrial agreement with Airport Authority employees.

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SCOTIABANK NAMED THE BAHAMAS BEST BANK 2022
SCOTIABANK NAMED THE BAHAMAS’ BEST BANK 2022

July 12, 2022

Scotiabank has once again been recognised as The Bahamas’ Best Bank, this time for 2022 by Global Finance Magazine (New York), which selects the best financial institutions around the world every year and is a trusted standard of excellence.

In commenting on the Bank’s achievement, Roger Archer –Managing Director, Scotiabank Bahamas said, “This award is only possible because of the tremendous efforts of our team during what continues to be a very challenging period and I want to say a heartfelt thanks to the entire Scotiabank Bahamas family.

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Sears - no decision on power pricing change
Sears - no decision on power pricing change

July 05, 2022

WORKS and Utilities Minister Alfred Sears yesterday said no decision has been made to increase electricity bills, however he urged Bahamians "to be more prudent" with usage given high energy costs.

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