business@tribunemedia.net
THURSDAY, DECEMBER 30, 2021
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Year ends seeing first shoots of growth By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE Central Bank of The Bahamas said that the economy will “register marginal growth” for 2021. The bank, in its Monthly Economic and Financial Developments (MFED) for November, said: “The domestic economy is projected to register marginal growth in 2021, undergirded by ongoing improvements in the tourism sector. In this
context, further strengthening in tourism output remains reliant upon sustained progress at the global level, in curtailing and lowering the spread of COVID-19. In addition, several new and ongoing foreign investment-led projects, along with posthurricane rebuilding works, are expected to provide support to the construction sector. “In terms of labour market conditions, the unemployment rate is anticipated to remain elevated
over the near term, with any job gains occurring primarily in the construction sector and the full re-engagement of tourism sector employees. With regard to prices, inflationary pressures are forecaste to remain contained, although some firming is estimated, due to the rise in international oil prices. “On the fiscal front, subdued revenue collections and costs associated with health and social welfare
THE CENTRAL BANK OF THE BAHAMAS
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Love Beach project was passed on appeal Giving back as a By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net THE View Love Beach development was initially rejected by the Town Planning Committee only to be later approved by an appeals board. Luther Smith, Permanent Secretary in the Ministry of Works with responsibility for Physical Planning, told Tribune Business that “the
View Love Beach” project was approved in August, 2021, just a few weeks before the last general election. Mr Smith also said the Town Planning Committee at the time – which was then headed by the current Free National Movement (FNM) Member of Parliament for St Anne’s, Adrian White – rejected the project. However, the project was later approved through the Town Planning Subdivision
and Development Appeal Board (TPSDAC), which we were told had no chairman at the time of the approval in late August, 2021. Mr Smith said: When the TPSDAC approved the project to proceed, letters went out to all of the community informing them of the board’s decision to allow the project to proceed. So persons in the community should have
been aware of the decision made by the board.” The composition of the original TPSDAC consisted of Pericles Maillis as chairman, who resigned for unknown reasons earlier in 2021, along with Claire Hepburn, former Attorney General and Senator under the FNM government in 2007-2008 as well as a retired supreme court justice, Patrick Rahming, Lloyd Turnquest, Stephen
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sign of thanks By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net A BAHAMIAN catering partnership is giving back to the community to help in the fight against COVID-19. The New Duff and Bahleaf Teas said they are celebrating the one year anniversary of their store opening on West Bay Street by giving back to some of their loyal customers and health care personnel at Princess Margaret Hospital over the past two weeks. “Since the second week in December, two customers per day were chosen at random to choose a gift under the tree in the store which had a tasty prize attached to be redeemed at the time of their choosing. There was also a ‘Write to Santa’ raffle where parents got to fill out an ‘envelope
to Santa’ after a purchase and place it in the store’s mailbox outside the store to enter their child to win a Christmas gift. Two lucky kids were the winners of tablets, courtesy of the partnered Bahamian brands.” Ryan Lightboune, coowner and Operations Director of The New Duff, commented, ‘It’s been a long road fighting through the challenges of the pandemic, but we’ve managed to continue to grow thanks to our loyal customers. This Christmas raffle was really exciting for us as we really wanted to give back to the people who helped get us to where we are today.” “December 17 saw the Radiology, Pharmacy, Diagnostics and Medical Records departments at Princess Margaret Hospital receive 100 guava duff and 100 loose leaf tea packets
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Small is beautiful as wedding planners gear up By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net DESTINATION weddings have the Bahamas Bridal Association’s members busy straight through to the early months of next year, its president said yesterday. Cindy Coakley-Knowles, told Tribune Business yesterday that wedding planners will be busy straight into February with “weddings every weekend”. “We are all busy with destination events. We are experiencing a very busy New Year’s weekend with the exception of one or two members,” she said.
She cautioned, however, that these weddings are all “micro weddings” consisting of less than 20 people in attendance, but they all still have to pay for photographers, wedding licences and booking venues to have their event. “For 50 or so guests for destination weddings that’s huge, but I know for Bahamian weddings that is kind of small. But for a destination wedding anywhere from 40 and up would be large. But now, for example, my wedding on Saturday only has eight persons in total and we are seeing a lot of other planners reporting that they are
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