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Super Value president: 'Things aren't flowing'
Super Value's president says that, while profit-based taxation "would be favourable" for food retailers, the Government must first prioritise the ease of doing business because "things aren't flowing like they should".
Corporate income tax is 'wrong way around'
The Opposition's finance spokesman yesterday argued that The Bahamas has corporate income tax "the wrong way around" because the proposed reform options are forecast to suck "more money" from the private sector via taxation.
Congresswoman hopes arrest will see Bankman-Fried held accountable
UNITED States Congresswoman Maxine Waters expressed hope that former FTX CEO Sam Bankman- Fried’s arrest and arraignment will signal him being held accountable for the alleged “fraud” he committed leading to the giant crypto exchange firm’s disgraceful fall, affecting as many as one million people.
NIB rate increase called 'absolute balancing act'
A senior hotelier yesterday urged the Government to be "judicious" with the size of future National Insurance Board (NIB) contribution rate increases as he described the situation as "an absolute balancing act".
Escalating GBPA row ‘disaster for Freeport’
The Grand Bahama Chamber of Commerce’s president yesterday branded the escalating row between the Government and Grand Bahama Port Authority (GBPA) as “another disaster for Freeport” that must be calmed rapidly.
Licensee fury: Freeport ‘moving at snail’s pace’
Freeport’s ease of doing business is “moving at a snail’s pace”, a group of Grand Bahama Port Authority (GBPA) licensees warned yesterday, as they blasted both the Government and city’s authority for the escalating row over its governance.
STATESIDE: While Biden tries to appear as ‘labour’s best friend’ Trump seems to lose favour
ONE year from this morning, we’ll know who the Democratic and Republican party nominees are in a presidential election contest that will then only be six weeks away. And we’ll know if a third-party candidate or candidates have emerged to challenge America’s deeply entrenched two-party political duopoly.
Corporate income tax for Bahamas ‘mammoth task’
A leading Bermuda accountant yesterday warned The Bahamas that implementing a corporate income tax regime is a “mammoth task” that should not be underestimated.
Fidelity targets $80m loan delinquents for bankruptcy
Fidelity Bank (Bahamas) will “aggressively” pursue delinquent borrowers responsible for $80m in collective consumer loan write-offs via personal bankruptcy judgments, asset seizures and taking liens over their wages.
Seven-fold jump in Benchmark’s debt to clients no alarm
A BISX-listed firm has reassured investors that the seven-fold increase in monies owed to clients at year-end 2021 is no cause for alarm since it stems from $150m in securities trading activity.
Gov’t in $40m surplus despite 25% VAT drop
The Government yesterday unveiled a rare $40.2m Budget surplus for July 2022 despite VAT revenues declining by more than 25 percent or some $36.5m year-over-year.
‘Not claiming victory’: Yet deficit is beaten by $70m
The Ministry of Finance’s top official yesterday said he “won’t claim that victory yet” despite the prior fiscal year’s $689.5m deficit coming in almost $70m below the final projection outlined in May’s Budget.
Deficit target missed if not for aborted $86m PHA loan
The Opposition's finance spokesman yesterday charged that the Government would have missed its 2021-2022 deficit target but for the repayment of an aborted $86.2m Public Hospitals Authority (PHA) loan.
One Eleuthera Foundation: A culture of giving in The Bahamas
DO Bahamians really give back like they should? As simple as this question sounds, it’s more nuanced than we think. In my line of work, there are a lot of conversations about philanthropic giving in The Bahamas, and recently, I heard the sentiment again that “Bahamians don’t give back as they should”. It got me thinking about invoking a discussion around how we drive more local giving in The Bahamas.
Gov’t turns down Ginn bid and plan
The Government has rejected a bid to acquire the former Ginn sur mer project, which planned to construct a 28-storey “iconic tower” modelled on Alexandria’s ancient lighthouse, in its present form.
Bank chief challenges PM over $80m ‘revenue loss’
A Bahamian commercial bank chief yesterday challenged the Prime Minister’s assertion that the Government lost $80m in revenues through the sector’s 2018 tax structure change to meet the European Union’s (EU) demands.
IDB’s taxpayer boost for $385m Gov’t bond issue
The Bahamas will this week seek to limit the debt servicing burden for taxpayers via an Inter-American Development Bank (IDB) guarantee that will underwrite most of its $385m foreign currency bond issue.
THE KDK REPORT: The North Star
GROWING up and living on a remote family island offers a wealth of peace and tranquility few outsiders can comprehend. With a small population, everyone on the island is either a family member or neighbour and there’s a genuine sense of community throughout the entire land.
New NAD fees hailed as ‘lot less onerous’
The private aviation industry yesterday hailed the Nassau Development Company’s (NAD) alterations to the new fees imposed on it as “a lot less onerous” compared to what was originally proposed.
Managers in three-year wait for $821k owed by PI resort
Hotel managers and their union have now been waiting “almost three years” to recover a collective $821,292 allegedly owed to them by a shuttered Paradise Island resort, it was revealed yesterday.
