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1,100 job loss ‘trade off’ for $100m taxes
Freeport’s economy could lose up to 1,100 jobs if the Government were to ‘trade off’ employment for $80-$100 million in extra revenue generated by allowing the city’s key tax breaks to expire.
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Pitch your tourism idea
THE government will extend an invitation for Bahamians to pitch new tourism products to the cruise industry next month, Tourism Minister Obie Wilchcombe said yesterday.
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S&P goes ‘negative’ on Bahamas as debt ratio rises 11% pts
Wall Street last night forecast that the Bahamas’ net government debt would hit 45-47 per cent of GDP by 2013-2014, a double digit rise in three years, as one rating agency slashed its economic outlook on this nation to ‘negative’.
Obit
Harold Nathaniel Forbes
Harold Nathaniel Forbes, 83 yrs., a resident of Watlins Street & formerly of Kew, North Caicos, died at PMH on 22 June, 2012. He is survived by his wife: Jacqueline Swain-Forbes; 2 sons: Kenneth & Sonny Forbes; 3 daughters: Pearline, …
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Govt spending controls will require ‘innovation’
THE Government’s ability to implement spending controls “will require innovation”, the Chamber of Commerce’s chairman arguing that it must demonstrate its commitment to balancing the Budget without damaging the economy.
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VAT real estate 'game changer'
Value-Added Tax’s (VAT) impending implementation may give buyers “the push” to secure properties before January 1, one realtor suggesting: “It may be better to do it now rather than seven months from now.”
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‘We must reform campaign finance’
FORMER State Minister for Legal Affairs Damian Gomez said allegations about the relationship between Canadian fashion mogul Peter Nygard and the Progressive Liberal Party are “not a good thing for the country,” adding that he hopes it spurs legislative reforms like the passing of campaign finance laws.
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Sarkis’s letter shows breakthrough on Baha Mar ‘not imminent’
Sarkis Izmirlian’s letter to his former 2,026 Baha Mar staff shows there is no “imminent” breakthrough likely in the impasse over the $3.5 billion project, a senior private sector executive believes.
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Baha Mar appoints ‘restructuring’ chief
Baha Mar yesterday pushed forward with its Chapter 11 plans by seeking US court permission to appoint a ‘chief restructuring officer; while Bahamian attorneys spent a second day attempting to thrash out the powers its joint provisional liquidators will possess.
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$315m lost in Baha Mar tax
IT is estimated that the government has lost $315m in tax revenue from the beleaguered Baha Mar resort due its opening delays and the court appointed receivership process, according to an economic impact report of the $3.5 billion property obtained by The Tribune.
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Accountant opposed by own creditors committee
An accountant is facing opposition from his own liquidation committee as he bids to obtain over $1m in compensation for efforts to wind-up a collapsed Bahamian broker/dealer.
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We’re ready to take a hit on sale price
THE government has given itself a little over a month to close bids for the sale of the Grand Lucayan, according to Hotel Corporation chairman Michael Scott.
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US warnings ‘threaten core of our existence’
The Bahamas “must do everything in our power” to combat US crime advisories, the Chamber of Commerce’s chief executive warning yesterday: “It threatens the very core of our existence”.
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No agreement over worker ratios at $200m The Pointe
LABOUR Minister Dion Foulkes revealed yesterday the government and The Pointe’s executives have conflicting numbers when it comes to the worker ratio at the $200m West Bay Street development.The minister told The Tribune a discrepancy was discovered
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Mobile data usage up 30% pts in 2017
Mobile broadband penetration jumped by 30 percentage points inside one year, it was revealed yesterday, with four out of every five Bahamians using the product by year-end 2017.The Utilities Regulation and Competition Authority (URCA), unveiling its
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Carnival ‘spruce up’ for 50% passenger growth
A senior Carnival executive yesterday said the cruise giant plans to “spruce up” Princess Cay, adding that the Eleuthera-based private island needs “quite a bit of love”.
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Bahamians look to have strong sophomore seasons on court
BAHAMIAN players at the junior college level are looking to have strong sophomore seasons and position themselves for an opportunity to eventually transfer to an NCAA programme.
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Matthew gives Bahamas $300m reinsurance boost
The Bahamas Insurance Association’s (BIA) chairman has estimated that this nation will benefit from a $300 million foreign currency inflow from reinsurers as a result of Hurricane Matthew.
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Revamped Employment Exchange to launch July 1
The Department of Labour’s revamped and modernised Employment Exchange is expected to go live on July 1, its director said yesterday.
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Govt urged: 'Get a move on' over post-Dorian plan
The Abaco Chamber of Commerce’s president yesterday urged the government to “get a move on” in developing a comprehensive plan for the island’s post-Hurricane Dorian revival. Ken Hutton reiterated to Tribune Business that there will be no major impr
