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Gov’t is warned: Don’t fall in love with VAT monies
The Government has been warned not to become “too enamoured” with Value-Added Tax’s (VAT) relatively successful start in preparing next week’s 2015-2016 Budget.
Gov’t ‘ill-prepared’ on Bill amendments
An FNM MP yesterday slammed the Government’s failure to provide the Opposition with the 12 amendments to the Petroleum Bill before yesterday’s debate, saying: “It’s ridiculous the Government was so ill-prepared”.
Bahamas’ debt to ‘stabilise’ near 70%
The Bahamas’ debt-to-GDP ratio is expected to hover near the IMF”s 70 per cent ‘danger threshold’ in 2016, although an international credit rating agency believes it has “stabilised”.
Cable slams ‘ill-timed’ INternet, TV price caps
Cable Bahamas warned regulators that their decision to impose price caps on its pay-TV and Internet services would be “ill-timed, intrusive and disproportionate”, arguing that these controls were unnecessary due to emerging competition.
Bran: US gives ‘kick in hip’ to Govt policies
The US has delivered “another kick in the hip” to the Government’s conduct of economic policy with its latest transparency concerns over public sector contracts, the Democratic National Alliance’s (DNA) leader charged yesterday.
PM 'in la la land' on Bimini as top PPP
A well-known QC yesterday said Prime Minister Prime Minister Perry Christie was “living in la la land” to tout the Resorts World Bimini development as the best example of a successful public-private sector partnership (PPP).
Union chief seeks 100-133% increase in minimum wage
The Trade Union Congress’s (TUC) president yesterday backed a 100-133 per cent increase in the Bahamas’ minimum wage, describing this as “reasonable”.
Governor: Data, privacy regimes may need reform
The Bahamas may have to reform its data and confidentiality regimes to mitigate the threat posed by the loss of correspondent banking relationships to the financial sector and wider economy, the Central Bank’s governor has warned.
Gov't warned: 'We can't take another shock' with NHI
The Government was yesterday warned that National Health Insurance (NHI) would not succeed without private sector buy-in, one executive warning: "The economy cannot take another shock." Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive, told Tribune Business that an unsustainable NHI programme could have "catastrophic effects for a fragile economy" that was still bedding down Value-Added Tax (VAT).
Gov't urged: End 'ridiculous foot dragging' on BEC
The Government has been urged to end its "ridiculous foot dragging" over the Bahamas Electricity Corporation's (BEC) part-privatisation and wider energy reform, as the private sector readies its own study on the issue.
Buyers 'pull back' on Moody's threat
International buyers are "pulling back" due to uncertainties caused by Moody's threatened downgrading of the Bahamas to 'junk' status, realtors have warned.
NAD eyes fee rise after $15.1m loss
The Nassau Airport Development Company (NAD) is currently mulling another fee increase, as it predicts a “few more years” of losses following $15.1 million in ‘red ink’ incurred during its 2015 financial year.
'No doubt over VAT chaos' on January 1
A well-known businessman yesterday said he had “no doubt” the Government will be unable to seamlessly implement Value-Added Tax (VAT) come January 1, suggesting “chaos” would result from failing to promptly educate the private sector.
Broker severs ties with ex-investor over $1m ‘misuse’
A Bahamian broker/dealer yesterday said it had severed all ties with a former shareholder after he allegedly misappropriated $1 million that was intended to be an equity investment in the firm.
Insurance recovery may wait until 2017
The Bahamian insurance industry may have to wait until mid-2017 to return to strong growth, with one leading underwriter saying its main goal is to “hold the fort”.
Private sector targets NHI concerns Christmas present
The Bahamian private sector is hoping to present the Government with a consolidated list of its National Health Insurance (NHI) concerns before Christmas, amid fears that the scheme’s cost estimates “might not be the most ideal”.
Contractors Association: No Baha Mar woe reports yet
Senior Bahamian Contractors Association (BCA) executives say they have yet to receive reports of local construction companies not getting due payments for work done on the $3.5 billion Baha Mar project.Senior Bahamian Contractors Association (BCA) executives say they have yet to receive reports of local construction companies not getting due payments for work done on the $3.5 billion Baha Mar project.
$6.6bn debt ‘well beyond’ the need for stabilisation
The Bahamas is “well beyond” the point where it merely needs to “stabilise” its $6.6 billion national debt, a former Chamber chairman said yesterday, as he warned that the economy was showing “no desire for growth”.
‘Absolutely imperative’ Baha Mar doesn’t fail
BAHA Mar’s transformation into a sustainable mega-resort is an “absolute imperative” for the Bahamas and its economy, the Chamber of Commerce’s chief executive says.
Gov't pledges to bridge 30k home digital divide
The Government's long-awaited Electronic Communications Sector policy pledges to bridge the 'Digital Divide' that has left 30,000 Bahamian households without broadband Internet, deeming this essential for "further and faster" economic growth.
