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Working ‘feverishly’ on EU obligations after tariff cut miss

The Government is working “feverishly” to bring the Bahamas into compliance with its commitments to the European Union (EU) under the Economic Partnership Agreement (EPA), having missed deadlines for the first two rounds of import tariff cuts.

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Governor: $931m liquidity means no ‘crowding out’

The Central Bank’s governor yesterday said that “ample” banking system liquidity of $931 million would ensure the Government’s deficit financing needs did not ‘crowd out’ private sector capital raisings, telling Tribune Business there were “no concerns from that standpoint”.

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'Vest' $71m dormant funds in Treasury

The $71 million in dormant accounts currently held by the Central Bank should instead be “vested” in the Public Treasury, a leading accountant said yesterday, thus aiding a government desperately needing every cent of revenue it can get.

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Excise duties on vehicles to be based on value, not engine size

EXCISE duties on vehicles will be based on value rather than engine size as part a wave of new measures aimed at regenerating the Bahamian economy.

Fiscal deficit increases 47%

The Government’s fiscal deficit for the first five months of the 2012-2013 Budget year rose 46.7 per cent or $70.3 million to hit $220.9 million, imposing further strain on the nation’s finances by taking the administration’s direct debt burden to $4.23 billion.

US will not tolerate online gaming

ALTHOUGH the future of a web shop industry for the Bahamas remains locked in the bosom of the courts, we suggest to Tourism Minister Obie Wilchcombe that he should not depend too heavily on American tourists becoming involved in the game of the dice. One look at what’s happening between the US and the twin island nation of Antigua and Barbuda should cool Mr Wilchcombe’s ardour about getting Americans involved.

Businessman urges capital gains tax

A well-known businessman yesterday suggested the Bahamas implement a small capital gains tax on property transaction profits, as he warned the Government not to “pile” its National Health Insurance scheme on top of Value-Added Tax (VAT).

RBC donates $35,000 to BSF for Swimming Nationals

FOR the 30th consecutive year, the Royal Bank of Canada has pledged their financial support to the Bahamas Swimming Federation for their National Swimming Championships this weekend, cementing the longest partnership of any sporting body and corporate business in the country.

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Auto industry urges $15k low threshold

The Government was yesterday urged to increase the lowest auto tax bracket threshold from $10,000 to $15,000, on the grounds this would enable Bahamians to better afford more efficient, environmentally friendly new vehicles.

IMF urges 20% auto fee rise

The International Monetary Fund (IMF) has urged the Government to increase motor vehicle licence fees by at least 20 per cent, arguing that this would improve the “fairness and progressivity” of Bahamian taxation.

'Political motive' in axing contract

FORMER Prime Minister Hubert Ingraham’s decision to cancel the previous contract awarded to Holiday Industrial Builders International (HIBI) was “purely for political expediency”, lawyers representing the company said yesterday.

Miss Bahamas Organisation introduces new pageant system

On Sunday, August 3, the most beautiful women from throughout the country will face off in not one, but two competitions to choose the nation’s ambassadors to the Miss World and Miss Universe pageants. The double-header event – under the theme “Beauty Personified” – will be an historic moment for the Miss Bahamas pageant. For the first time, all contestants competing in the national finals will be winners representing districts from across the country.

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IBA Bahamas players earn scholarships

SEVERAL International Basketball Academy (IBA) Bahamas players are preparing to take their academic and athletic careers to the next level this fall.

Heat beat Thunder 98-93, win 17th straight in Miami

MIAMI (AP) -- LeBron James had 34 points and 10 assists, Dwyane Wade scored 19 points and the Miami Heat avenged a loss at Oklahoma City last week, rallying to beat the Thunder 98-93 last night for their 17th straight home victory. Mario Chalmers scored 13

Gasol leads Lakers past Hornets, 93-91

NEW ORLEANS (AP) -- Pau Gasol had 25 points and nine rebounds, and the Los Angeles Lakers overcame Kobe Bryant's absence to beat the New Orleans Hornets, 93-91 last night. Bryant missed his second straight game with a sore left shin, but Ramon Sessions hel

Mixed results for two Bahamians at the Bowling World Cup

THE Bahamas’ two representatives at the 51st QubicaAMF Bowling World Cup in Sam’s Town, Las Vegas, have had mixed results after the first eight games were bowled yesterday.

Treasury to gain 79% of dormant accounts in reform

The Central Bank is mulling legislative reforms that would transfer 79 per cent of existing dormant account balances to the Treasury within two months of receiving them.

26% rise in deportations recorded last year

NEARLY 6,000 foreigners were deported from the country last year.

Sports notes

THE Sports Unit of the Department of Eduction, Science and Technology, in conjunction with the Government Secondary Schools Sports Association, has announced that its basketball championships are set to be held at Kendal Isaacs Gymnasium January 30 to February 3.

Metta World Peace faces NBA discipline

LOS ANGELES (AP) -- The Lakers jersey says World Peace on the back. The player wearing it is still Ron Artest, and he's in trouble again with the NBA. Metta World Peace was pounding his chest with his right arm in celebration of a dunk over two opponents S