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Port beats profits 19% via $677k debt slash
The operator of Nassau’s main commercial shipping port beat its original full-year profit target by 19 percent aided by a $30m preference share refinancing that slashed 2022’s debt servicing costs by $677,000.
BTC chief says fibre roll-out 70% finished
THE BAHAMAS Telecommunications Company (BTC) will be increasingly relying on a fibre network roll-out that is 70 percent complete to drive revenue growth and market share, its newly-appointed chief executive says.
Gov’t slashes Q1 deficit by $116m
The Government’s fiscal deficit for the 2022-2023 first quarter was slashed by $116m year-over-year, it was revealed yesterday, with its revenues running 4-5 percent ahead of projections.
‘Stable footing’: Ban on new payment providers removed
The Central Bank’s governor yesterday disclosed it is lifting the near three-year bar on new entrants to the money transmission and digital payments business with the market now on “a stable footing” post-COVID.
Consumers warned: Inflation yet to peak
The Central Bank’s governor yesterday warned hard-pressed Bahamian consumers that soaring inflation may not yet have peaked - although record-setting real estate demand is one area set to “normalise”.
Injustice that affects Bahamians
Countless Bahamians are being and have been left behind due to societal and economic discrimination, across the political divide and economic diaspora.
‘Buddy’ heats up, Ayton injured
Chavano “Buddy” Hield has enjoyed a hot shooting streak over the last four games while Deandre Ayton continues to be sidelined with an ankle injury to highlight play from Bahamian players in the NBA.
OECD shouldn’t have failed Bahamas over ‘one element’
THE BAHAMAS argued in vain to the Organisation for Economic Co-Operation and Development (OECD) that it should “not fail the entire test on one element” of tax information exchange, a Cabinet minister disclosed yesterday.
Gov’t in near-$40m deficit for August
The Government incurred a near-$40m deficit during August 2022 as it reclassified almost $35m of revenues earned in July as VAT, Ministry of Finance data released yesterday revealed.
Mitchell says goalposts shifting on tax
DESPITE the notion that Caribbean countries with competitive tax regimes are robbing European countries of revenue, Foreign Affairs Minister Fred Mitchell said the evidence shows the opposite of this is true.
Auditors could not verify FBI bait broker’s $1.5m
Auditors for a Bahamas broker/dealer once used as ‘bait’ by the FBI refused to give its last accounts a clean bill of health because they were unable to verify the existence of $1.5m held with other financial institutions.
BTVI has already tackled auditor general concerns
I write to provide important information in reference to a story on October 20, 2022, related to the Bahamas Technical and Vocational Institute (BTVI).
Smaller stores ‘lead way’ on price control response
Small, inner-city and Family Island food stores were yesterday said to be “leading the way” as the industry works “feverishly” to supply the Government with an alternative to the massive price control expansion by this Friday.
PRICE CONTROLS MOVE ‘DISASTER’: Pintard calls for govt rethink over impact to business
FREE National Movement leader Michael Pintard called on the Davis administration to reverse its decision to enforce price controls on additional items, warning that to continue the measure is another ingredient to a “recipe for disaster” for hundreds of businesses in the country.
‘Future generations will say we did no favours’
COVID has worsened The Bahamas’ looming savings and retirement crisis, a pensions specialist warned yesterday, adding: “Future generations will say we did them no favours.”
Food security
Zimbabwe was known as the breadbasket of Africa until 2000 exporting wheat, tobacco, and corn to the wider world, especially to other African nations. However, today Zimbabwe is a net importer of foodstuffs from the Western World. Many farm owners and farm workers have been killed during violent takeovers.
Liveable wage not possible without productivity boost
A CABINET minister yesterday warned that achieving a “liveable wage” will not be possible unless there is an improvement in Bahamian worker productivity and business efficiency.
Don’t ‘demonise’ food sector over price controls dispute
Grocery retailers are anxious not to be “demonised” over their opposition to an expanded price control regime they fear could undermine Bahamian food security, an attorney said yesterday.
EDITORIAL: So many left hungry in our nation
YOU don’t have to look far to see signs of how hard life is for many Bahamians.
No sanctions over price control ‘death warrant’ execution
The Government last night backed down from imposing sanctions on food retailers and pharmacists who fail to enact the expanded price control regime - which one branded “a death warrant” - by today’s deadline.
