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Nipped in the Bud: Brewery reversal over 40-year tie-up
Commonwealth Brewery yesterday suffered a reversal as the Court of Appeal sided with Budweiser’s global parent in the dispute over the termination of their 40-year Bahamian distribution deal.
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Opposition: IMF deficit warning ‘wake-up call’
The Opposition’s finance spokesman yesterday argued the IMF’s deficit warning should serve as “a wake-up call” for the Government not to waste “record-breaking revenues”.
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No ‘rush of blood’ on corporate income tax
The Bahamas was yesterday urged “not to have a rush of blood” in moving too swiftly on corporate income tax as the Government inches towards issuing a ‘white paper’ on the subject.
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Gov’ts deficit near-miss as VAT $160m off target
The Government narrowly missed its deficit target for the recently closed 2022-2023 fiscal year despite a near-$160m undershoot on its VAT forecast, it was revealed yesterday.
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PM ‘SHOCKED’ BY IMF OVER DEFICIT: PM says no concerns were raised with him during recent meeting
PRIME Minister Philip “Brave” Davis has said he was shocked by the International Monetary Fund’s conclusion that government spending this fiscal year will outpace revenue by almost three times its projections.
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Witness that testified against Gibson admits to being questioned by police on fraud
A SENIOR engineer at the Water and Sewerage Corporation (WSC) who has given testimony harmful to Adrian Gibson and his co-accused admitted police questioned her for suspected fraud last year.
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Minister backs constituents on propane plant opposition
A Cabinet minister yesterday joined Baillou Hills Estates residents in voicing opposition to the development of a $1.3m “state-of-the-art” propane gas plant off Tonique Williams Highway.
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Carnival targeting ‘much more’ than 2.2m arrivals with GB port
Carnival Cruise Line expects to bring “much more” than the advertised 2.2m passengers per annum to its new Grand Bahama cruise port when the facility opens in 2025.
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Hotels eye 10% growth for peak winter season
Bahamian resorts are poised for an up to 10 percent year-over-year increase in business volumes for the 2024 first quarter, it was revealed yesterday, with the sector’s “greatest opportunity” still untapped.
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Largest Bahamas First stake targeted in acquisition move
The largest shareholding in Bahamas First may soon change hands with the potential buyer already signalling its desire to expand that ownership interest beyond the initial 20 percent.
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IMF: Further ‘limit’ Central Bank’s financing of Gov’t
The International Monetary Fund (IMF) last night called for a further “reduction in the limit” on how much funding the Central Bank can provide to the Government as it signalled the present bar is too high.
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IMF: ‘Deeper effort’ on digital asset regulation
The International Monetary Fund (IMF) last night urged The Bahamas to undertake “deeper efforts” to regulate digital assets firms by providing more resources to inspect their operations.
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Block on former Tribune editor’s pension will be investigated, says NIB
NATIONAL Insurance Board chairman Philip McKenzie said the board will investigate former Tribune managing editor John Marquis’ complaint that his pension payment has been blocked “for no good reason”.
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IMF WARNING TO GOVT ON DEFICIT: Spending expected to outpace income by three times forecast
The International Monetary Fund (IMF) last night blew a hole in the Government’s 2023-2024 Budget projections by warning the fiscal deficit will likely be almost three times’ higher than forecast.
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Cyber Monday beats retailer expectations
Retailers yesterday said Cyber Monday sales exceeded expectations as reduced prices and service deals drove increased consumer demand.
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Gov’t unveils $1m grant to boost ‘food security’
The Small Business Development Centre (SBDC) yesterday received $1m in grant funding that will be distributed between small and medium-sized businesses to boost Bahamian “food security”.
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Junior tennis players off to college showcase in Maples
SEVEN of the country’s top junior players are heading off to Maples, Florida to participate in a college showcase, thanks to their involvement in Island Tennis Bahamas at the Atlantis resort on Paradise Island.
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WORLD VIEW: Breaking the OECD hold on global tax governance
“THE Organization for Economic Cooperation and Development (OECD) is nothing less than a Club of the world’s wealthiest countries which is determined to bend powerless countries to its will”. I wrote that statement in 2002 after four years of negotiations with the OECD against its unilateral imposition of a regime to counter what it called the ‘Harmful Tax Competition Initiative (HTCI)”, launched in 1998.
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‘Very happy campers’ on 36% KFC pay increase
The hotel union’s president has predicted “there are going to be some very happy campers” after the newly-signed Kentucky Fried Chicken (KFC) deal gave line staff a 36 percent pay rise spread over five years.
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PM hails UN resolution opening ‘fairer tax’ path
The Prime Minister yesterday hailed last week’s passage of a United Nations (UN) resolution that potentially opens a path towards a more just and fair approach towards resolving international tax disputes.
