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PM ‘20-30 years’ too late on legal opening demand

The Prime Minister’s call for the Bar Association to ‘open up’ to specialised foreign attorneys is 20-30 years past its sell-by date, a Bahamian financial services practitioner said yesterday.

80% Parliament backing needed for spending rise

Fiscal Responsibility legislation must “make it extremely difficult” for the Government to exceed Budget spending forecasts, an outspoken businessman yesterday demanding that any increase require at least 80 per cent Parliamentary approval.

Gov’t warned: Don’t ‘eradicate headroom’

The Government was yesterday urged by a former finance minister to ensure it does not “eradicate any borrowing headroom” should a national emergency strike.

FINCO holds off dividend despite profit up 10-fold

Despite an almost 10-fold net profit increase in 2015, FINCO’s Board is citing the earnings “volatility” produced by “unacceptably high” bad mortgage loans and low growth as the rationale for no year-end dividend payment.

Bahamas targets ‘Singapore of Latin America’

The Bahamian financial services industry is targeting reforms to existing products that will enable it to penetrate new markets, with the goal of becoming the “Singapore for Latin America”.

Super Value eyes 5-8% growth post-VAT adjust

Super Value’s owner is hoping for a 5-8 per cent year-over-year sales increase for February and March 2016, telling Tribune Business: “The signs are there.”

Minister rejects call for VAT exemptions

A Cabinet minister yesterday said it was “oversimplistic”  and “problematic” to call for Value-Added Tax (VAT) to be removed from food items and other staple products.

Sky Bahamas chief: ‘No encouragement’ in mid-year Budget

A well-known businessman and aviation executive says the 2015/2016 mid-year Budget has given him little encouragement to invest further, reiterating calls for a strategic plan to develop the Out Islands.

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A COMIC'S VIEW: Cuban millionaires, Lyford Cay billionaires - an everyday Bahamian soap opera

The expression ‘the truth is stranger than fiction’ never held much water to me. Albeit, I have been accused of having an “overactive imagination” so maybe that’s why what shocks others usually just amuses me.

Central Bank chief: No devalue danger

The Central Bank’s newly-appointed governor yesterday reassured that the Bahamian dollar faced no devaluation dangers, adding that a floating exchange rate may not boost competitiveness.

Nassau/PI room revenue up 3%

Nassau/Paradise Island hotels produced a 3 per cent room revenue increase for the 2015 full-year, with average occupancy rates beating 2014 comparatives for eight out of 12 months.

Gov’t ‘playing with fire’ over $200m spend rise

The Government was yesterday warned it is “playing with fire” through the $200 million year-over-year increase in recurrent spending, with a businessman suggesting this threatens to squander the ‘benefits’ from Value-Added Tax (VAT).

Gov’t ‘tax and spend’ fear on $200m increase

The Government yesterday expressed “confidence” it will hit its key fiscal targets despite blowing past its forecast 2015-2016 full-year deficit in just six months, with recurrent spending up $200 million year-over-year.

Bahamasair ‘like spoiled child’ on Business Licence

Bahamasair has been accused by a rival of “acting like a spoiled child” over having to pay Business Licence fees for the first time, a development that helps ‘level the playing field’.

Moody’s report a ‘red flag’ alert

Moody’s has raised “a red flag” over the need to contain government spending and spur faster economic growth, the Opposition’s finance spokesman is arguing.

Bahamas banker loses $200k over real estate fraud

A well-known Bahamian banker is alleging that he has been personally defrauded of $200,000 over a Chinese real estate investment.

Bahamasair in 34% loss slash

Despite slashing losses by almost 34 per cent for its 2014 financial year, Bahamasair’s best-performing international route is set to take a major hit from the new US opening with Cuba.

PowerSecure pledges Bahamas dedication amid ‘A team’ demand

PowerSecure has promised its “dedication and commitment” to BEC remains unchanged in the wake of its $431 million purchase, as Opposition politicians urged: “We need the ‘A Team’, not the ‘B Team’.”

FINCO bad loans still over $100m

Although still carrying more than $100 million worth of ‘bad’ loans, FINCO’s almost 10-fold net income increase for 2015 has given shareholders hope that better days lie ahead.

Web shop economic impact

It is very interesting that few, if any, of those persons who complain about the depressed state of the Bahamas economy, consider the impact that the web shops have, and continue to have, in this regard.