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Gov’t’s $206.5m deal with Goldman ‘speaks volumes’
The Ministry of Finance’s top official yesterday asserted that the Government’s $206.5m “repurchase” deal with Goldman Sachs “speaks volumes” to the credibility of its fiscal and economic plans.
APD container volumes 1,100 below pre-COVID
New Providence’s commercial shipping industry has suffered “no significant” impact from global supply chain disruptions with container volumes up 11 percent for the two months to end-August.
Opposition’s last-ditch VAT change bid fails
A Cabinet minister last night slammed the Opposition’s bid to introduce last-minute changes to the VAT Bill as the two sides continued to trade blows over the rate cut and ‘zero ratings’ end.
IMF: 12% VAT rate ‘lowest in Caribbean’
The Bahamas’ soon-to-be-repealed 12 percent VAT rate was branded “the lowest in the Caribbean” by the International Monetary Fund (IMF) in its much-debated report to the Government.
BTC suffers $13.6m first half revenue fall
The Bahamas Telecommunications Company’s (BTC) $13.6m first-half revenue decline last night underscored the urgency of pleas for corporate unity as its business continues to slip away.Figures for the first six months of 2019, released by its ultimate
‘Hoopin’ by the Park’ a success
EMANCIPATION Day saw the culmination of the second annual Hooping by the Park Basketball Tournament which came to an exciting close on Freedom Park in Fox Hill as the champions were crowned in all four divisions.
BTC to 'radically attack' Cable on TV, Internet hold
The Bahamas Telecommunications Company (BTC) is planning to “radically attack” Cable Bahamas’ internet and TV dominance, having slashed new subscriber waiting time by 80 percent.
‘Nipped in the Bud’: Brewery lays off 73
COMMONWEALTH Brewery yesterday said a tough economy and competitive pressures from cheaper rival beers had forced it to terminate 73 staff within its 700 Wines & Spirits retail unit.
‘Very aggressive’ crackdown on $200m smuggling, evasion
The Government’s top finance official last night pledged “a very aggressive” approach to cracking down on smuggling and tax avoidance schemes believed to cost The Bahamas a combined $200m annually.
Roads overruns $300m due to business impact
The New Providence Road Improvement Project’s so-called ‘cost overruns’ really total $300 million when the impact on affected businesses is factored in, a former leading retailer believes.
Bahamians in win column on Goombay Splash ITF Junior Circuit
WHILE Kevin and Philip Major Jr both breezed through their first round matches in the main draw of the Goombay Splash ITF Junior Circuit Tournament yesterday, Danielle Thompson was taken to the limit before she prevailed with a victory to lead the Bahamian attack at the National Tennis Center.
Just who is NIB Chairman Gregory Moss?
YESTERDAY the newly appointed National Insurance Board came out in full support of their chairman Marco City MP Gregory Moss, who seems unclear about his duties.
Atlantis group bookings pace up 132% for ‘15
Atlantis’s 2015 group booking pace is up 132 per cent, its top executive said yesterday, with the Paradise Island resort’s booking for the past three months “off the charts”.
Chamber chief ‘astounded’ by 4,000 VAT payers
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive yesterday said he was “astounded” by government figures showing less than 4,000 companies would be liable to pay Value Added Tax (VAT), adding that this emphasised the urgency of passing legislation designed to strengthen the small business sector.
Warning of lower growth than forecast
The International Monetary Fund (IMF) yesterday slashed its 2013 economic growth forecast for the Bahamas by 80 basis points, prompting an Opposition MP to urge: “We have to find new ways to grow this economy.”
Bahamas routs Puerto Rico 9-1
An eager crowd of spectators could not have anticipated a better showing from Team Bahamas, who had a dominant debut performance in the 2013 CONCACAF Qualifier for the FIFA Beach Soccer World Cup.
TOUGH CALL: Energy desperately needs to be addressed
THE budget proposals relating to BEC are clear evidence of the government’s failure so far to create a new energy model for the country.
Port urged: Dispel 'closed shop' myth
The Grand Bahama Port Authority (GBPA) has been urged to stimulate investment by Nassau’s business community, a top QC saying it needed to dispel the notion that Freeport was a “closed shop”.
Minister: Web shop money laundering fear 'not very high'
A Cabinet Minister yesterday said money laundering concerns stemming from a banned/underground web shop gaming industry were “not very high”, but others said it would be “naive” not to think the situation may attract international attention.
VAT not mandatory for 15,000 firms
More than 80 per cent of Bahamian companies, numbering more than 15,000, will not be mandated to pay Value Added Tax (VAT), with financial services and health/education among the industries exempt from paying it.
