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EDITORIAL: What the Budget did not say
WHEN taking the time to sit down and examine yesterday’s Budget communication by Prime Minister Philip “Brave” Davis, it is as important to look at what was not said as much as what was.
'Throwing darts': PM pledges 'decisive action' on Freeport
The Prime Minister's decision to put the Grand Bahama Port Authority's (GBPA) owners on notice that he plans to take "decisive action" to halt Freeport's two-decade decline yesterday provoked mixed reactions from residents and politicians.
What happened in London won’t stay in London
IF readers permit, I would like to write a ‘part 2’ to my note on the coronation, offering reflections on the impact on the Coronation week, and its lasting impact for the UK and The Bahamas.
The Budget Communication – as it happened
Prime Minister Davis says the Budget aims to strengthen national security, economic security and the lives of people of The Bahamas. He says the global economy is showing signs of improvement although there is still much work to be done to recover from recent challenges. He adds that average consumer prices rose in the US by eight percent, while policy rate of interest has been raised ten times, driven primarily by rising inflation. He highlights the effects on The Bahamas in terms of higher borrowing costs.
FTX chief’s fate lies in Bahamas’ hands
THE FATE of embattled FTX chief, Sam Bankman-Fried, rests in The Bahamas’ hands in determining how many criminal charges he will ultimately face over the crypto exchange’s multi-billion dollar implosion, it was revealed yesterday.
Sir Franklyn's developer in $7.5m battle with MIT chair
Sir Franklyn Wilson's Eleuthera Properties is locked in a legal battle with Massachusetts Institute of Technology's (MIT) chairman emeritus over the latter's bid to exit his $7.5m investment in the Bahamian developer.
GAS DEALERS WANT 30 CENT INCREASE – Association: Govt discussed change to fuel margins
Petroleum retailers say they refuse to become "paupers" as they intensify demands for a 30 cent per gallon margin increase which they have been seeking to obtain from the Government since April 2022.
Trade Policy aims to break export barriers
A Cabinet minister yesterday asserted that the newly-launched National Trade Policy will play a key role in helping to diversify the Bahamian economy through the creative industries plus sectors such as agriculture and fisheries.
Ex-MP says: 'Gov't supporters trying to get hands on GBPA'
A former MP yesterday doubled down on concerns that "supporters of the governing party have been trying to get their hands on the Grand Bahama Port Authority" amid push back to calls for politics to be kept out of Freeport's future.
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.
Sears says newly launched Traffic Management Centre first phase to cost $1.8m
THE Ministry of Works and Utilities launched the first phase of its Traffic Management Centre yesterday.
Silver Airways adds two routes to Family Islands
A US airline has added two non-stop routes to the Family Islands from Orlando this past weekend.
Court of Appeal stays Gibson corruption trial
THE Court of Appeal stayed Adrian Gibson’s corruption trial yesterday pending the outcome of his appeal of a ruling from Justice Cheryl Grant-Thompson.
WORLD VIEW: 1.5°C is upon us - are we prepared?
THE report on May 17, from the World Meteorological Organization, (WMO) that global temperatures are likely to surge to record levels in the next five years should have sent all Caribbean institutions, such as the CARICOM Secretariat, the Caribbean Development Bank, and the Caribbean Community Climate Change Centre, into overdrive to explore further ways in which the region could accelerate efforts to avert this calamity.
Corporate tax plan 'dead on arrival' unless wider reform
The Government's corporate income tax consultation will be "dead on arrival" if it does not involve a "holistic" approach to comprehensive Bahamian tax reform, a prominent banker warned yesterday.
Stay of proceedings ordered in Adrian Gibson trial
A STAY of proceedings has been ordered in the Adrian Gibson corruption trial pending the determination of an appeal hearing.
Keep Freeport out of a 'political cess pool'
Major figures in last year's protest march to the Grand Bahama Port Authority (GBPA) have reiterated their opposition to its acquisition by the Government for fear Freeport will be dragged into "a political cess pool".
US will warn over crime
My prediction has happened. Two American tourists in Exuma robbed of thousands of dollars, another State Department Advisory will happen warning American tourists of the crime in The Bahamas.
Reinvesting 50% of corporate tax no GDP growth panacea
Reinvesting 50 percent of the revenues generated by a corporate income tax would lessen - but not eliminate - the negative economic impact of each of the four proposed implementation options, the Government is forecasting.
Club Med: Over 75% of workforce returns
Club Med's general manager yesterday revealed that more than 75 percent of the resort's staff have returned to work at the property despite its near three-year shutdown due to COVID-19.
