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Bahamas faces major tax, exchange control shake-up
The Bahamas may have to completely overhaul its corporate and taxation structure to escape European Union/OECD ‘blacklisting’ threats, the Attorney General revealed yesterday.
BEC managerial talks start today
The Government will today begin negotiations with PowerSecure International over the five-year Bahamas Electricity Corporation (BEC) management contract, amid pledges that the deal will be overseen by “a non-partisan” Board.
IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
IMF: FISCAL REFORM DELAYS MAY 'JEOPARDISE RECOVERY'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
DEVELOPER MOVES TO AVOID EARLY 'MISS' AT EX-GINN PROJECT
By NEIL HARTNELL Tribune Business Editor The Canadian-based developer for the former $4.9 billion Ginn project's real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the developm
DEVELOPER MOVES TO AVOID EARLY 'MISS' AT EX-GINN PROJECT
By NEIL HARTNELL Tribune Business Editor The Canadian-based developer for the former $4.9 billion Ginn project's real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the developm
DEVELOPER MOVES TO AVOID EARLY 'MISS' AT EX-GINN PROJECT
By NEIL HARTNELL Tribune Business Editor The Canadian-based developer for the former $4.9 billion Ginn project's real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the developm
De-risk 'client migration' to benefit larger banks
Correspondent bank 'de-risking' could drive another wave of Bahamian financial services consolidation by sparking "client migration" to larger institutions, a former finance minister has warned.
Opposition leader in ‘total dreamland’ over Freeport
FREEPORT businesses yesterday blasted the Opposition’s leader as being “in total dreamland” over his defence of the former government’s incentive regime.
Telecom provider pledges ‘unheard of’ service levels
A newly-launched telecommunications provider yesterday promised “unheard of” service quality levels for the Bahamian market, as it will incur financial penalties for failing to meet customer expectations.
‘Lots of muscle’ required for $142m toxic BOB pile
The Bank of The Bahamas bail-out vehicle must now employ “lots of muscle” to recover its remaining “toxic” loan collateral valued at $142m, its chairman revealed yesterday.
Freeport losing investment since climate 'up in the air'
Freeport's largest investor has confirmed that nine-figure investments have been delayed because the Government has left the city's expiring tax incentives "up in the air".
Atlantis 'savours' $1.9bn refinance
Atlantis was yesterday said to be “savouring” its completed $1.9 billion debt refinancing, its owner having invested some $500 million in the property since taking control two years ago.
BISX: Majority of stocks don’t move more than 5%
The Bahamas International Securities Exchange (BISX) has “consistently” found evidence to support its method for calculating share prices, with most companies’ stocks never moving more than 5 per cent from the previous day’s close.
Freeport investment law blasted as ‘anti-business’
Freeport’s new tax incentives law was yesterday branded an “abomination” and “anti-business” by an FNM Senator, who argued that it will undermine both the city’s founding agreement and economic growth.
KERZNER FORECLOSE WOULD COST $230M
By NEIL HARTNELL Tribune Business Editor Some $230 million in costs would be incurred just to foreclose on Kerzner International's Paradise Island properties, a Delaware judge questioning why Brookfield Asset Management should be the only one to potentia
S&P: Gov’ts fiscal, economic reforms ‘will take time’ to work
* 1.5% average growth forecast lower than IMF’s * Grand Lucayan closure takes out 7% of rooms * Debt to rise through 2020 to 52% of GDP
THE Government’s fiscal and economic reforms will take time to “pay dividends”, Standard & Poor’s (S&P) warned yesterday, as it took a more ‘bearish’ view of the Bahamas’ growth prospects. The rating agency, in its latest Bahamas country assessment, expressed confidence that the Minnis administration’s fiscal reforms will “arrest the deterioration” in the Government’s deficit and the national debt.
