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Construction’s fears on ‘bread and butter’
The Bahamian Contractors Association’s (BCA) president has voiced fears that construction’s “bread and butter” will be undermined if the declining trend in mortgage loan approvals persists.
Hoopfest Tournament a blast with top high school teams from US
WITH a little more time to work with their teams, coaches for both the New Providence and Grand Bahama All-Stars feel as if they could have had better showings against the Miami Northwestern High School in the Hoopfest High School Tournament at the Kendal Isaacs Gymnasium over the weekend. On Friday, the New Providence All-Stars got off to a slow start and ended up getting routed 71-36 by Miami. On Saturday, the Grand Bahama All-Stars got off to a good start, but couldn’t maintain their composure, losing 66-47 to Miami.
Super Value cuts Sunday hours on 25% sales drop
Super Value has slashed Sunday shopping hours after sales “dropped off 25 percent”, its principal revealed yesterday, adding: “They aren’t coming to show off their church hats any more.”
$3.5m Bahamian hotel to become Schooner 'magnet'
An all-Bahamian investor team believes its $3.5 million boutique hotel will become a “magnet” at the heart of Schooner Bay, creating 20 jobs and a total $3 million economic impact for South Abaco.
Cruise port 90 percent completed and expected to be ready for May completion
THE new Nassau Cruise Port is more than 90 percent completed, according to its chief executive officer Michael Maura who said the port’s opening remains on schedule for the last week of May.
New Year's occupancies at 90-100% in Out Islands
Boating traffic drove New Year's occupancies at Family Island resorts as high as 90-100 percent, hotel managers said yesterday, but New Providence properties did not fare as well.
90% of taxes to go via Central Revenue Agency, Customs
THE Government is proceeding with plans to establish a Central Revenue Agency (CRA) that will collect all taxes bar Customs duties, a Cabinet Minister saying that together the two departments would receive 90 per cent of all due revenues.
Meetings held to discuss VAT
TWO separate meetings were held last night on the proposed Value-Added Tax legislation.
Attorneys meet Ministry on VAT
Higgs & Johnson attorneys have met with John Rolle, the financial secretary, and other Ministry of Finance officials over Value-Added Tax (VAT), its ramifications and impending implementation. The session was described as “intense and tremendously beneficial”.
88 UPS units donated to Ministry of Education and Technical and Vocational Training
PRECISION Power Solutions Limited yesterday donated 88 UPS units to the Ministry of Education and Technical and Vocational Training.
Ex-finance minister slams ‘misplaced’ Moody’s report
A former finance minister believes the Bahamas’ sovereign credit rating will improve within the next five years, as he slammed a “misplaced” Moody’s report for under-estimating the impact of Value-Added Tax (VAT) and other fiscal reforms.
Fiscal fall-out fears on delay over Baha Mar
The FNM’s deputy leader fears the Government’s 2014-2015 fiscal projections will be thrown off by Baha Mar’s delayed opening, given that the mega resort’s four hotels are only likely to open fully in May at the earliest.
‘Downward trek’ urged for Gov’t expenditure
THE Tax Coalition’s chairman yesterday described the increase in the Government’s recurrent spending for the 2014-2015 Budget year first half as “cause for concern”, reiterating that real cuts were necessary to achieve the desired fiscal turnaround.
Lyford Cay condo faces fresh regulatory hurdles
The developer behind a controversial Lyford Cay condominium complex yesterday pledged to “move forward” with the project despite several more regulatory hurdles being imposed.
Five more teams exit Hugh Campbell
Five more teams made their exit as the 38th edition of the prestigious Hugh Campbell Basketball Classic continued on Friday at the Kendal Isaacs Gymnasium.
Auto dealer’s fury over port charges
A frustrated Bahamian auto dealer yesterday revealed he “cannot make any headway” in resolving demands for thousands of dollars in port storage fees after COVID-19 left his vehicle imports “stuck on the dock”.
PLP pledges rise in minimum wage
The Progressive Liberal Party (PLP) yesterday unveiled a populist economic agenda that included a weekly $40 increase in the minimum wage and cutting VAT to 10 percent for at least one year.
WTO advocate argues Bahamas to never join
A prominent World Trade Organisation (WTO) advocate yesterday said he doubts The Bahamas will ever join, adding: “You can lead a horse to water but can’t make it drink”.Carey Leonard, the former Grand Bahama Port Authority (GBPA) in-house attorney, t
City Markets' pension trustees in 'strike out'
Attorneys for the City Markets employee pension plan yesterday moved to “strike out” a court Order against its trustees, asserting that the $800,000 at the centre of the dispute had already been paid to beneficiaries.
Private sector: We'll withdraw VAT consent if no wider reforms
The Bahamian private sector yesterday warned it will withdraw its consent to Value-Added Tax (VAT) “at any percentage” if the Government fails to follow through with wide-ranging fiscal reform, saying of the latter: “It’s not an if; it’s a must.”
