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Ex-Chamber chief says Budget ‘prudent, sober’
The Government appears to have presented a “prudent, sober” pre-election Budget, a former Chamber of Commerce president said yesterday, adding that it had given a “welcome kick-start” to fiscal consolidation by resisting the temptation to over-spend.
Tourism sector showed ‘signs of softness’ in early 2016 says Central Bank
THE Bahamas’s tourism sector showed “signs of softness” over the first quarter of 2016 the Central Bank has revealed, with total room revenue falling approximately five per cent over the previous year.
Govt stance on tax breaks ‘perplexing’ says Lowe
A NOTED ‘fiscal hawk’ yesterday questioned the Government’s decision to provide tax breaks to some industries to while not giving similar treatment to others that could also benefit, describing it as “a bit perplexing”.
VIEW FROM AFAR: We must make use of net metering
SINCE neither all my readers nor I are engineers, I will write in layman’s terms about the practice of net metering being adopted in enlightened countries.
Govt raises deficit estimate to $100m
The Government yesterday forecast a more modest pace for fiscal consolidation, projecting a higher $100 million GFS deficit for the upcoming 2016-2017 Budget year compared to its estimates a year ago.
Gov’t adds $1.6bn to national debt over three years
The Christie administration has added $1.6 billion to the Bahamas’ national debt over the past three years, continuing to push it beyond the IMF’s so-called ‘danger threshold’.
Developer claims residents were ‘inciting confrontation’
The Abaco Club’s principal has accused some Little Harbour residents of seeking to “incite confrontation” against him over its controversial 44-slip marina planned for that community.
Cable seeks protection on mobile pay regime
Cable Bahamas has urged regulators to protect consumers and a “competitive level playing field” by preventing BTC from choosing the payment regime for calls terminating on its network.
PM slams predecessor on $99m BTC deficit
Prime Minister Perry Christie has again slammed the former Ingraham administration for failing to provide the $39 million needed to cover the Bahamas Telecommunication Company’s (BTC) original pension fund deficit, arguing that this had caused the shortfall to balloon to $99 million.
Mitchell: Smith is waging war against me
FOX Hill MP Fred Mitchell was adamant yesterday that Fred Smith, QC, legal director of Save The Bays, has waged “war” on him through a series of court actions aimed to “bankrupt” him personally.
Fly fishing association wants rethink on regulatory body
THE Abaco Fly Fishing Guides Association has formally requested that the Department of Marine Resouces move away from the idea of installing the Bahamas Fly Fishing Industry Association as the regulatory body for the industry.
Freeport ‘deficit’: PM at odds with Govt Committee
The Prime Minister’s assertion that the Government runs a higher deficit in Freeport than anywhere else in the Bahamas appears at odds with the report produced by his own committee.
Michelle Miller Motivationals: It takes courage to aim higher
It is said that courage is not the absence of fear but the realisation that there is something you must do that is more important than fear.
A YOUNG MAN'S VIEW: The tiefin’ at the heart of our society
EVERY time Auditor General Terrance Bastian and his team releases a damning report, I become more and more convinced that we live in a society where “tiefin”, in one form or another, has become the order of the day. To use a phrase I heard bandied about this week, “we don’t need no VAT, we need a moratorium on ‘tiefin’!”
Cable shareholders suffer $14.37m loss over US writedown
Cable Bahamas shareholders suffered a collective $14.371 million net loss for 2015, driven by a one-off $20.5 million accounting ‘write down’ associated with its US operations.
FNM deputy gives Gov’t ‘benefit of doubt’ on deficit
The Opposition’s finance spokesman is “giving the Government the benefit of the doubt” over the widening $100 million gap to its 2015-2016 deficit target.
RoyalFidelity targeting 15% client asset growth
RoyalFidelity Merchant Bank & Trust is targeting 15-20 per cent growth in client assets under management for 2016, with its president admitting yesterday that last year’s profits will be “hard to match”.
GB Power in 69% capital spend rise
Grand Bahama Power Company (GBPC) yesterday said the 69 per cent increase in its 2016 capital investment budget is being driven by the planned lighting switch-out, an initiative that will save customers a collective $1 million per year.
Gov’t deficit now $100m from target
The Government is getting further away from its $141 million full-year deficit estimate, the Central Bank revealed yesterday, with the ‘gap’ to its target standing at more than $100 million at end-February.
‘Fortunate one-offs’ in $4m Fidelity boost
Fidelity Bank (Bahamas) chief executive yesterday conceded that its record-breaking 2015 profits may have been “fortunate”, after they received a $3-$4 million boost from ‘one-off’ events.
