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Sarkis’s letter shows breakthrough on Baha Mar ‘not imminent’
Sarkis Izmirlian’s letter to his former 2,026 Baha Mar staff shows there is no “imminent” breakthrough likely in the impasse over the $3.5 billion project, a senior private sector executive believes.
Baha Mar appoints ‘restructuring’ chief
Baha Mar yesterday pushed forward with its Chapter 11 plans by seeking US court permission to appoint a ‘chief restructuring officer; while Bahamian attorneys spent a second day attempting to thrash out the powers its joint provisional liquidators will possess.
$315m lost in Baha Mar tax
IT is estimated that the government has lost $315m in tax revenue from the beleaguered Baha Mar resort due its opening delays and the court appointed receivership process, according to an economic impact report of the $3.5 billion property obtained by The Tribune.
Accountant opposed by own creditors committee
An accountant is facing opposition from his own liquidation committee as he bids to obtain over $1m in compensation for efforts to wind-up a collapsed Bahamian broker/dealer.
US warnings ‘threaten core of our existence’
The Bahamas “must do everything in our power” to combat US crime advisories, the Chamber of Commerce’s chief executive warning yesterday: “It threatens the very core of our existence”.
Cooking gas suppliers in 68% increase plea
Stressed dealers are pleading with the government for a 68 percent increase in the price of cooking gas to secure the industry’s survival in an “horrendous” climate where some are losing up to $500,000 per year.
No injuries as Flamingo Air plane crash lands
A Flamingo Air plane crash landed at the airport in South Bimini on Monday afternoon after the wheel under the right wing collapsed, The Tribune was told.
Melia raises $90,000 for hurricane relief
THE MELIA Nassau Beach hotel raised more than $90,000 for Hurricane Matthew relief through the Melia CARES (Comforting and Repairing Everyone’s Spirits) initiative coupled with the resort’s employee relief donations.
$1.5bn debt repayment in a year? 'No problem'
The Ministry of Finance's top official yesterday said he "foresees no challenge" over the Government meeting almost $1.5bn in debt principal repayments coming due within the next 12 months.
'Highly efficient' Bahamas: OECD praises 85% tax mark
The Bahamas has been praised by the Organisation for Economic Co-Operation and Development (OECD) for the “highly efficient manner” in which it deals with tax information requests, processing 85 per cent within six months of receipt.
Are you cleansing the lens of your perception
If perception makes up 99% of your reality – what then makes up your perception?
Gov't targeting $660m revenue rise in 4 years
The Government is targeting improved revenue yields equivalent to 4 per cent of Gross Domestic Product (GDP) as the centrepiece of its plan to generate a recurrent Budget surplus within three years, it was disclosed yesterday.
Central Bank mortgage ease may not have instant impact
A realtor yesterday hailed the Central Bank's bid to help more persons "accomplish the Bahamian dream" although he warned the impact may not be felt instantly.
Giants, High Flyers are national champions
BOTH the Division I and Division II titles will remain in the capital as the New Providence Basketball Association champions emerged as winners of the 2019 Bunny Levarity Bahamas Basketball Federation Nationals.
Bahamas 'got everything needed' on tax exchange
The Bahamas “got everything we wanted” from this week’s OECD Global Forum meeting, with its stance on how the automatic exchange of tax information should be implemented accepted by the international community.
Abaco guides fear ‘irreparable harm’ via new regulation
Concerns continued to mount yesterday over the new fly fishing regulations, with one Bahamas-based association arguing that many reforms were “unnecessary and counterproductive”, and would undermine the industry’s viability.
Raptors are the junior track & field champs!
They had their consecutive meet title streak broken in 2018, but the CH Reeves Raptors regained their place as the GSSSA junior track and field champions.
Ministry's 'strong support' for $100k VAT threshold
Increasing the compulsory Value-Added Tax (VAT) registration threshold to a $100,000 annual turnover has “strong support” within the Ministry of Finance, as it would still capture almost 98 per cent of economic activity.
COVID-19 DEATH TOLL RISES BY ONE TO 183
THE country’s COVID- 19 death toll rose by one to 183 on Sunday after the death of an 80- year-old man was reclassified.
Bahamas total debt over 90% of GDP
The Bahamas was yesterday said to be “in a very, very dark position” after the Central Bank revealed that total public sector debt was a mammoth $7.604 billion, a sum equivalent to more than 90 per cent of national economic output (GDP).
