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Treasury admits breaching 75% wage deduction limit
The Government was yesterday urged to “curtail” civil servant salary deductions to no more than a combined 40 per cent of total income, after the Auditor-General rapped the Treasury for allowing the current 75 per cent limit to be breached.
Controversial taxes to raise extra $68.5m
The Government is aiming to raise a collective $68.5 million in extra revenue this fiscal year from some of its more controversial Budget increases, amid suggestions yesterday that global banking reforms had contributed to the external reserves slippage.
Brazilian providers eye Bahamas presence
Brazilian financial services providers are interested in establishing a physical presence in the Bahamas, a Cabinet Minister said yesterday, adding that he wanted to “leverage the success” this nation has had there to crack new Latin American markets.
John Beadle gets personal in new solo exhibit
BAHAMIAN visual artist John Beadle is set to unveil his most personal body of work tomorrow night at The National Art Gallery of the Bahamas. The John Beadle Project addresses issues such as fear and insecurity in the Bahamas and begins 7pm.
Stunned reaction to Immigration
Stunned Bahamian businesses yesterday described the Immigration Department’s “raid” at Atlantis as “simply reprehensible”, warning that such actions were counterproductive to the government’s key objectives of economic growth and job creation.
McCartney off to good start in Stampeders' 44-32 victory
KARL McCartney opened the Canadian Football League season where he left last year, as a special teams ace for the Calgary Stampeders.
Port's $21m offer 'fully subscribed' a week early
The Arawak Port Development Company’s (APD) $21 million preference share offering was “pretty much” fully subscribed one week before it was due to close, Tribune Business was told last night.
Poor Gov't consultation aviation's 'top threat'
A BAHAMIAN airline chief executive yesterday warned the Government’s failure to consult was “the greatest threat to our survival” in the aviation industry, suggesting that some airlines could be paying up to $1,200 extra in Customs fees per day.
PM accuses critics of VAT 'distortion'
PRIME Minister Perry Christie yesterday hit back at critics of the Government’s proposed Value-Added Tax (VAT), accusing them of “distortion” and urging the International Monetary Fund (IMF) to publicly back his administration’s plans.
FNM questions Gov't priorities on bank infusion
THE Free National Movement’s (FNM) chairman yesterday called into question the Government’s financial priorities in light of its $31.5 million capital injection into Bank of the Bahamas International (BOB), telling Tribune Business: “There appears to be a bigger story than meets the eye”.
S&P: 6% deficit to miss Gov’ts target
Standard & Poor’s (S&P) believes weak economic growth and revenue performance will cause the Government to overshoot its 2013-2014 fiscal deficit targets by a sum equivalent to 1 per cent of gross domestic product (GDP).
Realtor mulls Chinese office
A leading real estate broker believes China’s importance to the Bahamian economy cannot be “overstated”, having discussed this nation’s growing Far East ties with the Minister of Foreign Affairs.
Davis Cup team falters in Cuba tie
IT wasn’t the type of start that the Bahamas men’s national team expected at the Davis Cup Americas Zone III tie on Monday.
PLP Chairman praises Budget
PROGRESSIVE Liberal Party (PLP) Chairman Bradley Roberts praised the government’s 2014/2015 budget and said the Christie administration’s fiscal plan “charts a course for a brighter future through fiscal reform, economic growth and jobs creation.”
Gaming VAT: Casinos 'vehemently opposed'
MAJOR casino operators are “vehemently opposed” to suggestions that Value-Added Tax (VAT) should be levied on players via the gross sum bet, fearing this could make them “less competitive” than North American rivals.
Griffin: Poverty statistics were expected due to global recession
SOCIAL Services Minister Melanie Griffin told The Tribune yesterday that while she was surprised by statistics that show an increase in poverty in the Bahamas, she expected it given the recent global recession.
Fiscal deficit contracts 32%
The Government’s fiscal deficit contracted by 32.2 per cent to $260.8 million for the first nine months of the 2013-2014 Budget year, driven by a drop in capital spending and increased non-border tax revenue.
Water Corp to cut Consolidated debt to under 90 days
THE Government is aiming to reduce the Water & Sewerage Corporation’s (WSC) arrears with BISX-listed Consolidated Water, its main supplier, to just under 90 days, after approving a $20 million subsidy for the 2014/2015 fiscal year.
Bahamas losing $3m per week to sports fishermen
BAHAMIAN fishermen have backed proposed legislation that would limit the amount of seafood foreign sports fishermen are allowed to retain, estimating that this nation’s fisheries sector is losing $3 million a week to thisl practice.
