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Taylor Industries staff gain 33% of severance

Forty-one former staff of now-defunct Taylor Industries will receive just 33 percent of the total termination pay and benefits owed to them in what the company’s liquidator defended as “a relatively positive outcome”.

Sands: Poor sacrificed ‘on tax efficiency altar’

The FNM’s chairman yesterday accused the Government of driving more Bahamian families into poverty, and sacrificing them “on the altar of tax efficiency”, by refusing to eliminate VAT on medicines and breadbasket foods.

Governor warns economy ‘overpowered’ after 2023

The Central Bank’s governor yesterday warned that surging global inflation and other external risks “could overpower” the Bahamian economy once the return to pre-COVID output levels is completed in 2023.

Cable still facing 'shortfall' despite 27% rate increase

Cable Bahamas believes its proposed 27% basic cable TV rate increase is the only way to “safeguard the product’s financial viability”, having predicted that the shortfall below its 10.86 per cent capital return target would “double” for 2011.

Resort bookings 'slow considerably'

Despite the Nassau/Paradise Island resort industry beating June occupancy forecasts by 1.5 per cent, the Bahamas Hotel Association’s (BHA) president last night said the sector remained concerned about anything that could “tamper with an already thin bottom line”, bookings having “slowed considerably” for the upcoming weaker months.

STATESIDE: Even after Trump’s indictment little has changed on the political landscape

THIS morning, the 2024 American presidential election is almost exactly 19 months away. Is all the suspense already gone?

Airport in $8.1m operating loss before Gov’t purchase

Grand Bahama International Airport suffered an $8.129m operating loss in the two-and-a-half years leading up to its 2021 purchase by the Government, which is aiming to select the preferred bidder to redevelop this asset by August 2022.

STATESIDE: The history of Germany and Russia’s relationship

FOUR months ago this morning, America was in solemn remembrance of an infamous, consequential day that would shape the nation’s history for decades. December 7, 2021, was the 80th anniversary of the surprise attack by Japanese military forces on the sprawling American naval base at Pearl Harbour in Hawaii.

‘Happy medium’ within sight on Business Licence anxiety

The Ministry of Finance’s top official last night voiced optimism that “a happy medium” is close over new Business Licence verification rules that were causing growing private sector anxiety.

VAT ‘outlier’ status in up to 25% marina fall

Marinas are warning the “hesitancy” of foreign yacht charters to consider The Bahamas because of its status as a VAT “outlier” has caused a 20-25 percent business drop-off for some properties.

Restaurant chain to double staff as revenues rise 15%

A BAHAMIAN restaurant chain is aiming to double its workforce by July through the creation of 48 new jobs with revenues for the year-to-date some 15 percent ahead of 2023.

'No fear of contradiction' on Govt $500m loan use

The Ministry of Finance's top official last night denied that a recent $500m loan was used to pay-off a maturing government bond as the Opposition raised renewed concerns over the financing.

Reform Series Conclusion: ‘We are the problem.’

We must confront an uncomfortable truth: we, the people, are the root of the problem. As citizens of The Bahamas, it’s high time we face our shortcomings and acknowledge the urgent need for sweeping reforms across critical sectors of our society.

Hundreds of millions in flyover fees lost By PLP

THE Ministry of Aviation & Transport’s indifferent approach to an “overflight” revenue sharing agreement with the Federal Aviation Administration has cost The Bahamas’ cash strapped Public Treasury potentially hundreds of millions of dollars in fees.

Land Registry in 20 years to 'get straight'

Realtors yesterday hailed the Government’s Land Registry plan as taking the Bahamas to “first world status”, but warned: “It will take 20 years to get straight.”Leading industry players, while giving their backing to the Minnis administration’s just-

Unlocking Eleuthera's rich history and culture

There is no doubting the treasures of Eleuthera and Harbour Island, which are found in their miles of coastline, pink sand beaches, sweet pineapples and unique architecture. While rich in history, the island offers an even greater learning experience

Promoter renews $8m Resorts World pursuit

A beach club promoter yesterday confirmed he is renewing his pursuit of Resorts World Bimini for a minimum $8m in damages, and warned: “I hope they understand we have staying power.”Garrick Edwards and his Therapy Beach Incorporated entity, fresh fro

INSIGHT: All we've got to do is think BIG and be BRAVE

Bahamians need a “come to Jesus moment” on national development. Those who advocate employment opportunities at more risk of destroying thousands in the future, amounts to a deal with the devil At the same time, environmentalists must understand that people have to live, and they can’t eat sand.

‘Naive to think we’ll stay zero tax nation’

A former deputy prime minister yesterday urged the government to “rush to the finish” on developing tax reform options, warning: “It would be naive to think we can continue as a ‘zero tax’ nation.”

HUBERT EDWARDS: A matter of life and debt

There is every expectation that The Bahamas’ current economic crisis will eventually come to an end. These things always do. What is not as clear is when, and how, it will be corrected.

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