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HUBERT EDWARDS: The low growth, high debt trap
In the first article we assessed some of the consequences from a high, and growing, national debt. With The Bahamas’ debt-to-GDP ratio expected to remain above 80 percent over the mid-term at least, the question that dominates is the extent to which this is sustainable.
Obit
Hazel Lloyd
Hazel Lloyd age 82 a resident of Wilson Tract and formerly of Barraterre Exuma, died at The Princess Margaret Hospital April 30th, 2017. Funeral arrangements are entrusted to THE NEW COMMONWEALTH FUNERAL HOME and will be announced later.
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POLITICOLE: There’s a hole in the bucket, Dear Christie
I was born in the 70s, and I grew up in the 80s and 90s. Life in The Bahamas was so much simpler then. Everything appeared cleaner, easier, purer. It was long before we knew what a storm our leaders were brewing for us, though we would soon find out. And the Pandora’s Box has been spilling over since then.
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A chapter of disaster?
The Baha Mar bankruptcy order should be granted in the Bahamas to avoid a damaging dog-fight between creditors, Richard Coulson urges.
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New Providence or New Orleans?
I saw Twitter images of severe flooding throughout parts of New Providence over the weekend. I believe it was a meteorologist who told either The Nassau Guardian or The Tribune that the severe flooding caused by torrential rains was a hurricane drill for New Providence residents. As a resident of Grand Bahama who lived through Hurricanes Francis, Jeanne, Matthew and Dorian, I want Nassau residents to understand that the recent flooding in their communities is nothing compared to the flooding the aforementioned cyclones brought to our island.
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COVID collapse sparked rare $1.7bn ‘dual deficit’
Tourism’s “collapse” at COVID-19’s peak “exposed the fragility” of The Bahamas’ current economic model by producing rare twin goods and services trade deficits worth a combined $1.7bn.
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Customs inefficiency costing Gov't $66m
The Government is losing $66 million in revenues annually due to inefficiencies at Bahamas Customs alone, the situation also placing tourism industry profitability and foreign direct investment (FDI) inflows “at risk”.
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FINCO: Three-year offload sparks $9.1m provision hit
Despite recovering "in excess of" 80 per cent of the outstanding principal 0n distressed property sales, FINCO's managing director yesterday said the mortgage
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Going for the gold
The Bahamas CARIFTA team is ready to win gold on home soil at this year’s 50th CARIFTA Games. Last week the team rolled out a full 80-member team for the first time in Bahamian history as athletes look to shine at The Bahamas’ record ninth hosting of CARIFTA.
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VAT health claims change ‘may’ not happen April 1
The Government “may not” implement the new VAT treatment for medical insurance claims payouts by its April 1 target, it was revealed yesterday, with the decision hinging on a meeting with healthcare stakeholders later this week.
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Web shop pay cut threat over anti-VAT demo
Island Luck employees were seemingly threatened with the loss of a day’s pay if they did not attend yesterday’s anti-VAT and gaming tax protest in Rawson Square.
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THEY RAN BREANNA DOWN LIKE ANIMALS: Sister tells court how gang stabbed teen over $80 cellphone
THE older sister of teenage mother Breanna Mackey tearfully recounted yesterday how five girls who were supposed to be her sister’s friends ran her down “like a dog” in the street and brutally mobbed her over an $80 smartphone last year.
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Bay Street sees 80% income loss extended longer
Eighty percent of the spending that kept Bay Street afloat has dried up via a cruise industry shutdown just extended to October 1, the Downtown Nassau Partnership’s (DNP) co-chair has revealed. Charles Klonaris told Tribune Business he does not fore
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Architects: ‘Free us from building control bondage’
Architects yesterday urged the government to “free us from the bondage of building control”, warning it was “missing out on” up to 80-90 percent of VAT due on professional fees.
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Bahamas' corporate tax world's most 'corrosive'
The Bahamas yesterday received no credit for laws said to have raised compliance costs by 75-80 percent after its corporate tax policies were rated as the world’s most “corrosive”.
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BISX: 50/50 buyer-seller ratio 'damn good market improvement'
The Bahamas International Securities Exchange’s (BISX) chief executive believes a “damn good improvement” is occurring in the stock market, with the buyers-to-sellers ratio now standing at 50/50 after deteriorating to 20/80 at the recession’s peak.
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City Markets staff fight' must not happen again'
The City Markets debacle “must never, ever happen in this country again”, a representative for 350-400 of its former employees yesterday saying they would not accept “less than 80 per cent” of the severance pay due to them.
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$80m energy project eyes 25% cost slash
An $80 million renewable energy project believes it could slash electricity costs for consumers on 15 Family Islands by at least 25 per cent, having met or exceeded the Government's own pricing targets.
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'Exorbitant' Business Licences make one-time payments impossible
Super Value’s owner yesterday said it was impossible for the food retail industry to pay the new “exorbitantly high” Business Licence fees one-time, as he dismissed claims he was ‘bullying’ the Government over its Value-Added Tax (VAT) proposals.
