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Reflating economy aids $11.843bn debt burden
The Bahamas’ $11.843bn national debt at end-March 2022 has dropped below this nation’s economic output due to the continued post-COVID-rebound, resulting in a debt-to-GDP ratio of around 98.4 percent.
Electric cars are a risk of electrocution
In the 2022/2023 Budget Communication, Prime Minister Philip Brave Davis announced that his government will reduce the duty rate on electric vehicles valued under $70,000 to 10 percent.
Petroleum retailers fear ‘implosion’ as gas hits $7
Petroleum retailers yesterday warned the industry could “implode” unless the Government urgently adjusts the price-controlled, fixed margin business it has laboured under for decades as gas prices breach the $7 per gallon mark.
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.
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.
Senior men’s national soccer team back on pitch
THE Bahamas Football Association’s senior men’s national team returns to the pitch this weekend to kickoff the second edition of the CONCACAF Nations League.
‘Get past need for Budget secrecy’
The Government must “move past this need for secrecy” in the annual Budget process and avoid blindsiding the private sector and wider Bahamian public on planned fiscal reforms, a prominent banker is arguing.
Cable in $169m refinance amid return to profitability
Cable Bahamas yesterday unveiled plans to refinance $169m in preference share debt, and slash annual interest payments by $500,000, after generating its first quarterly net profit for several years.
March air arrivals near to 75% of pre-COVID
Tourist arrivals to The Bahamas increased almost ten-fold in March 2022 compared to the prior year aided by the continued easing of COVID-related border restrictions and a rebound in global travel, it was revealed yesterday.
Ex-BACO president in ‘non-compete’ dispute
A past Bahamas Association of Compliance Officers (BACO) president was yesterday said to be free to “engage in her profession” after a Florida appeals court refused to extend a non-compete injunction relating to a two-year legal battle.
Family Island companies struggle with price rises
Family Island businesses yesterday said they are struggling to contain prices as they grapple with soaring inflationary pressures impacting the entire world.
Blacklist ‘factor’ fear on bank Business Licence
A commercial bank chief yesterday questioned whether the Government’s plan to reimpose Business Licence fees on the sector could revive a situation that caused The Bahamas’ 2018 blacklisting by the European Union (EU).
Debt strategy was Budget’s ‘big miss’
A governance reformer yesterday argued that the Budget presentation’s “big miss” was its failure to detail how The Bahamas will tackle its $10.5bn national debt and annual interest costs set to hit a record $589m.
Bahamas ‘can’t be complacent’ on 15% corporate tax push back
The Bahamas “cannot be complacent” despite yesterday being granted more time to determine its approach to the G-7/OECD-led push for a minimum 15 percent global corporate income tax rate.
HUBERT EDWARDS: Today’s Budget for a better tomorrow
We previously considered The Bahamas’ debt sustainability, and looked at the challenges faced from a Caribbean context.
FACE TO FACE: The Legacy of Uncle Lou
SOME educators come into the lives of children and leave such an impact on them, that they are never forgotten. Deacon Leviticus Lewis Joseph Adderley was one of them. As the beloved principal of St. Augustine’s College for many years, he impacted the lives of countless SAC students, molding nation leaders and global influencers.
BISX-listed Fund eyes restart for dividends after 15-year gap
The BISX-listed Bahamas Property Fund’s Board will within the next month receive a recommendation to resume investor dividend payments after a 15-year hiatus following completion of its $8m preference share financing.
PM HITS BACK ON BREADBASKET VAT – while Watson claims tax reintroduction does not hurt consumers
PRIME Minister Philip “Brave” Davis told his predecessor yesterday to take his own advice, as he hit back over new criticisms levelled at his administration over its refusal to remove value added tax from breadbasket items.
Bank sold despite ongoing legal fight
A Bahamian bank’s sale has been confirmed by its statutory administrator despite his actions, and those of the Central Bank, being subject to a legal challenge that is ongoing before the Supreme Court.
Flowers ordered to pay ex-FML executive $120k
Craig Flowers’ FML web shop chain has been ordered to pay a former senior executive $120,000 plus interest after the Court of Appeal overturned a previous verdict relating to “irregularities” designed to inflate staff earnings.
