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Small businesses urged: Delay lay-offs to October

Small businesses were yesterday urged to delay lay-offs until October, a sector consultant revealing over one-third of his clients are eyeing immediate cutbacks amid VAT-related “panic”.Mark A Turnquest told Tribune Business that while start-ups need

Govt must show 'fortitude' on VAT break demands

The government must display “the fortitude” to resist unwarranted lobbying by industries and special interests that further undermines the VAT base, a top accountant has warned.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) preside

Tax change threat to 'resilient' $928m FDI inflow's repeat

The Bahamas needs a repeat of last year’s “resilient” $928m foreign direct investment (FDI) inflow more than ever, but real estate’s new VAT treatment represents a potential obstacle.While a United Nations (UN) agency said 2017’s FDI flow dropped jus

'No intention' of making owners registry public

The Government yesterday said it has “no intention” of creating a public Beneficial Ownership Registry, or using the issue for regulatory arbitrage, amid rising pressure on The Bahamas’ rivals.K P Turnquest, the Deputy Prime Minister, told Tribune Bu

Insurance cover 'did not pay off' post-Matthew

THE Inter-American Development Bank (IDB) has backed industry calls to eliminate VAT on property and casualty insurance, as many policies “did not pay off” following Hurricane Matthew.The bank, in its assessment of the economic damage and loss inflic

Self-employed assistance net expands to cover 7,000

More than 7,000 persons will be covered by the government’s $5.9m expansion of COVID-19 aid to self-employed workers outside the tourism sector, the deputy prime minister said yesterday.K Peter Turnquest told the House of Assembly that the extension

Bahamas ‘obvious target’ for hackers

Attorneys yesterday warned the latest Registrar General’s Department hack shows the government “cannot get away” with any IT system deficiencies, adding: “We’re an obvious target.”

Laying out the roadmap for economic resilience

The UK-based Centre for Local Economic Strategies (CLES) outlines ten indicators that can be used to determine whether an area, or country, is resilient. The first three of these are the strength of the commercial sector; strength of the public secto

DIANE PHILLIPS: Is it time to bite the bullet and sell Bank of The Bahamas?

The time has come to sell Bank of The Bahamas.

FOCOL scouting for capital raise

BISX-listed FOCOL Holdings is on a capital markets “reconnaissance” mission to determine its best finance-raising options as it “very aggressively” seeks to position itself for growth post-COVID-19. Sir Franklyn Wilson, the company’s chairman, told

Economy's shrink to exceed $1.3bn deficit

The Bahamian economy will this year shrink by a greater amount than the government’s projected $1.3bn deficit for the upcoming 2020-2021 fiscal year, the deputy prime minister revealed yesterday.K Peter Turnquest, unveiling the 2020-2021 budget in th

WORLD VIEW: Climate change is killing the Caribbean one cut after another

AMID the feverish work to cope with both the public health and economic effects of COVID-19 on their populations, Caribbean governments can be forgiven for dropping their guard against the existential dangers posed by climate change.

Small business faces $748m 'financing gap'

Bahamian small and medium-sized enterprises (SMEs) face a “financing gap” that could be as large as $748m, the Bahamas Development Bank’s (BDB) transformation plan estimates. The report, a copy of which has been seen by Tribune Business , suggests t

'Interference' slashes BDB bad debt recovery to 50%

“Interference” in loan recoveries has made it extremely challenging for the Bahamas Development Bank (BDB) to claw back even 50 percent of its credit losses, international consultants have revealed. Canada-based International Financial Consulting (I

Junkanoo Bowl: Jacobi and Sydney eliminated

Top seed Sydney Clarke and top-ranked male player Jacobi Bain both fell victims to respective southpaw opponents and were eliminated from the International Tennis Federation’s Junkanoo Bowl junior tennis tournament.

Aliv calls on BTC: 'Work with us for good of Bahamas'

Aliv yesterday called for greater co-operation from the Bahamas Telecommunications Company (BTC) in developing “a more resilient interconnection regime” following several recent service disruptions that impacted both carriers’ clients.Damian Blackbur

Bahamas at crossroads through financial reform

The Bahamas is considered a tax haven for both companies and people alike.

Anti-trade groups: 'We'll awaken the Bahamian people'

Anti-free trade activists have pledged to mobilise and “awaken the Bahamian people” against joining the WTO, with one saying: “Our leaders just don’t recognise the danger.”Paul Moss, a leading member of the Bahamians Agitating for a Referendum on Fre

DPM: Full VAT impact may not be till new year

The Government “may be a little behind” its 2018-2019 fiscal projections, it was revealed yesterday, with the full VAT rate hike impact not felt until the New Year.KP Turnquest, pictured, deputy prime minister, told Tribune Business that the Ministry

WORLD VIEW: How long with Venezuela remain a pawn in the game of global chess?

MICHELLE Bachelet is a torture survivor. She was arrested in 1975 by the late dictator Augusto Pinochet’s political police and detained in the notorious Villa Grimaldi torture centre. So, she knows much about the suffering of people.

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