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BPL ‘clamping down’ on light bill duckers
Bahamas Power & Light (BPL) is “really clamping” down on bill duckers who use their ‘connections’ to avoid paying, its chief executive yesterday giving the private sector the impression “there’s a new sheriff in town”.
BFSB chief: Industry’s ‘survival under threat’
The Bahamas Financial Services Board’s (BFSB) chief executive yesterday echoed a former Cabinet minister in warning that “the very survival of the sector is under threat”, and demanded urgent reforms.
Business to resist ‘heavy handed’ labour law reform
The private sector will resist any “heavy handed” move to impose the proposed labour reforms on it, the Chamber’s chief executive yesterday warning they were “not sitting well” with the business community.
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’.
Gov't still focused on food and medicine price control
A Cabinet minister yesterday said the Government "feels inclined" to expand price controls on food and medicines, after previous such initiatives ended earlier this year, as it takes a "stand for consumer rights".
Companies urged to build investor sustainability trust
A Bahamian accountant says it is vital that investors have trust in a company’s sustainability reporting in an environment where increasing emphasis is being placed on climate action.
Back to school for PM as Class of '68 hands over donation
PRIME Minister Philip "Brave" Davis returned to his school days with a visit to St John's College, as the school received a donation of $160,000 on Friday from its class of 1968.
NIB rate hikes every two years
A Cabinet minister last night warned employers and workers to brace for a series of rolling National Insurance Board (NIB) contribution rate increases every two years with the first hike to be split equally between the two.
Davis Cup: Bahamas stays in Zone III
THEY were not the results that they wanted, but veteran player/captain Marvin Rolle said it was better than being relegated from American Zone III to zone IV (four) in the Davis Cup competition.
Inflation trend ‘positive’ as rate shows minimal change
THE trend for inflation has been hailed as "positive" by a campaigner for good governance.
Gov’t revenue goal ‘very close’ despite VAT miss
The Government’s top finance official yesterday forecast that it will “come very close” to achieving its total revenue and tax forecasts for the 2022-2023 fiscal year even though VAT could potentially under-shoot by up to $160m.
Bahamas First blames 50% of $4.3m loss on new rules
Bahamas First’s top executive has blamed more than 50 percent of the group’s $4.3m comprehensive loss for the 2023 first half on a major change to insurance industry accounting standards.
Opposition alarm on S&P’s three times’ higher deficit
The Opposition’s finance spokesman yesterday voiced alarm over Standard & Poor’s (S&P) prediction that the fiscal deficit for the 2023-2024 Budget year will come in more than three times’ higher than the Government’s forecast at $466m.
Mortgage loan approvals decline to under one-third
Less than one out of every three mortgage loan applications was approved in the 2023 first half despite total credit applications to the commercial banking sector increasing by 9.4 percent year-over-year.
DIANE PHILLIPS: Creative solutions needed to address society’s inequities
A MAN sleeps in his car, hoping it will not rain tonight so he can keep the windows open. Not far away, a few miles along the coast, another man writes a cheque for $3.2m for a beachfront condo he will use six weeks of the year.
Proven competition: Jamaica group targets Bahamas move
Bahamian financial providers were yesterday told to “prepare themselves” for increased competition after a prominent Jamaican group with over $1bn in total assets unveiled plans to establish a physical presence here.
The Bahamas’ top two life insurers downgraded
The Bahamas must “take concrete steps” to reverse the trend of sovereign credit rating downgrades after the country’s two largest life and health insurers saw their own financial strength assessments slashed as a result.
PRICE CONTROLS MOVE ‘DISASTER’: Pintard calls for govt rethink over impact to business
FREE National Movement leader Michael Pintard called on the Davis administration to reverse its decision to enforce price controls on additional items, warning that to continue the measure is another ingredient to a “recipe for disaster” for hundreds of businesses in the country.
Bahamas’ arrivals at 3m, just 16% off pre-COVID
The Bahamas received almost three million tourist arrivals during the 2022 first half, it was revealed yesterday, with June’s numbers just 16 percent down on the record-breaking pre-COVID pace set in 2019.
PM HITS BACK ON BREADBASKET VAT – while Watson claims tax reintroduction does not hurt consumers
PRIME Minister Philip “Brave” Davis told his predecessor yesterday to take his own advice, as he hit back over new criticisms levelled at his administration over its refusal to remove value added tax from breadbasket items.
