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NAD sees 5% passenger traffic fall over Christmas

OUTBOUND passenger traffic from the Lynden Pindling International Airport (LPIA) into the US over the Christmas holiday period decreased 5 per cent year-over year, according to airport operator, the Nassau Airport Development Company (NAD).

Tax break may help 41,000 homeowners

Prime Minister Perry Christie yesterday said more than 41,000 homeowners could benefit from the Government’s decision to waive real property tax arrears for owner-occupied homes valued at less than $250,000.

‘Pie in the sky’: Gov’t slammed on Freeport regulation claw back

Calls for the Government to reclaim regulatory authority over Freeport have been branded “a pie in the sky idea”, given the existing legal barriers to such a move.

Insurer’s $80m Matthew payout 20% off forecast

A top insurer yesterday said its total Matthew claims payout was likely to be 20 per cent less than originally estimated, as it warned that the Bahamas’ hurricane preparedness “cannot be business as usual”.

Coral farm ‘showcase’ eyes 1m annual target

The Bahamian winner of Prince William’s £1m Earthshot prize yesterday disclosed it is targeting production of 1m coral pieces per year to help “showcase” this nation’s environmental credentials.

Auto dealers strike 10% 'convert' return

Auto dealers yesterday expressed optimism that they would double their monthly sales average in April as a result of the recent Car Show, with some having already hit their 10 per cent ‘conversion’ return rate.

Aircraft skids into bushes in Exuma

A Flamingo Air Beechcraft 99 airplane skidded off the runway into bushes in Exuma yesterday morning after experiencing engine problems. In a statement the Air Accident Investigation Department (AAID) said the incident happened at 8.30am at Black Poin

No matching Customs duty fall from VAT

Wall Street is not anticipating that the introduction of a Value-Added Tax (VAT) will lead to a matching drop in revenues generated from Customs Duties, a prominent Bahamian accountant believes.

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Regulator warned 127 on financial crime compliance

Bahamian regulators issued warnings to 127 law and real estate firms over non-compliance with anti-financial crime mandates while giving this nation’s $306m-plus residential real estate sales a clean bill of health.

‘It doesn’t jive’: Gov’t spending outpaces revenue

THE Government’s recurrent spending continued to grow at a faster rate than revenues during the 2014-2015 Budget year’s first half, with the Opposition yesterday arguing that the Prime Minister’s optimism “doesn’t jive” with the fiscal reality.

‘Two to three weeks’ left to save Freeport

The Grand Lucayan must be sold within “the next two-three weeks to save” Freeport as a tourist destination and its upcoming winter season, a leading resort executive warned yesterday.

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Bain: ‘It was a new challenge in my life dealing with the pro players’

New head coach Norris Bain gave himself and the rest of his coaching staff a B grade after the Bahamas advanced in the FIBA AmeriCup and World Cup qualification round in Belize.

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Jonquel Jones selected for WNBA Skills Challenge ahead of All-Star game appearance

IN addition to playing in the Women’s National Basketball Association (WNBA) All-Star game, Bahamian Jonquel Jones from Grand Bahama has also been selected to participate in Saturday’s WNBA Skills Challenge.

Bahamas is Caribbean's top tourist market share loser

The Bahamas has lost the greatest tourism market share of any Caribbean nation in the post-recession years, an International Monetary Fund (IMF) report has revealed, with this nation ranked as the region’s most expensive.

Distribution of income and property

There is a nebulous myth here in The Bahamas that there is and has been a gradual equalisation in income and property ownership amongst our people. I

30 more Haitians apprehended

IMMIGRATION officials say they apprehended 30 Haitians near The Hole in the Wall, Abaco yesterday, bringing the number of suspected illegal immigrants detained within 24 hours to nearly 200.

Just 15% of insolvent broker’s assets located

An insolvent Bahamian broker/dealer’s liquidators have recovered just 15 per cent of its identified assets, while clawing back minimal sums from its former principal and overdrawn clients.

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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

GB Power: $28m damage from Joaquin-type storm

A Joaquin-style hurricane would likely impose $28 million worth of repair costs on Grand Bahama Power Company (GBPC), with its top executive defending the ‘storm insurance’ charge it plans to levy on customer bills.

Bonded warehouses 'good business all around', say dealers

Auto dealers believe it will be “good business all around” if recent Customs visits mark the first step towards being able to establish bonded warehouses at their properties.Fred Albury, the Bahamas Motor Dealers Association’s (BMDA) president, said