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Developer: Residency ease for 'American first'
A Bahamian developer poised to break ground on a $50m project yesterday urged the Government to resolve tax and permanent residency bottlenecks for the country to exploit an "American first".
BAHA MAR SCRAPS OCTOBER OPENING: Resort tells workers goal to launch next month not feasible
The Government's tourism re-opening plans were yesterday dealt a major blow after Baha Mar told staff its October return was "not achievable" due to COVID-19 spikes here and in key US markets.
CASUALTIES OF COVID CRISIS: Baha Mar begins mass layoffs just as flights resume
Bahamians were yesterday warned to brace for "more significant casualties" in the tourism industry as Baha Mar started terminating hundreds of workers.
$3.2m acquisition to be donated for GB hospital
Doctors Hospital has teamed with three philanthropists to close the $3.2m purchase of its new Freeport facility and provide services to those who cannot normally afford private healthcare.
Gov’t targets property tax tripling to $400m
The Government is aiming to more-than-triple annual real property tax collections to at least $400m as a key component in its ambitions to achieve a 25 percent revenue-to-GDP ratio.
Nassau told: ‘Don’t fear’ Freeport’s cruise ports
Nassau has “nothing to be afraid of” from Freeport’s two mega cruise ports, the Minister of Tourism is arguing, while admitting both projects have added “fresh” urgency to the capital’s revival.
GB Shipyard targets tripling revenue to $250m by 2029
Grand Bahama Shipyard is aiming to more than triple its annual turnover to $250m within five years, its top financial executive asserting yesterday: "This is not wishful thinking."
Airlines threaten cut backs over tax rises
Airlines representing 90 per cent of US airlift into the Bahamas have warned they may cut their services due to the Budget’s tax increases, a move that will undermine the tourism industry and threaten plans for a 400,000 seat capacity increase.
New home starts off 67% in one decade
The pace of home construction is failing to keep pace with the Bahamas’ housing needs, with residential starts and completions both declining by more than two-thirds in the decade up to 2014.
FNM fears toll on resort staff awaiting job cut news
BAHA Mar’s plans to potentially reduce its workforce by over 90 per cent if it is unable to resolve its dispute with its Chinese partners will take a toll on the “mental and physical health” of its employees, FNM Chairman Michael Pintard said yesterday. He said no effort must be spared on the government’s behalf to prevent the staff cuts.
Gov’t deficit grows 56% to strike $151m
The Government’s fiscal deficit “deteriorated” by 56 per cent during the first quarter of its 2014-2015 financial year, growing by $54.1 million to hit $151 million.
Unions threaten ‘shut down’ over Sandals
The Bahamas’ two leading trade unions bodies joined forces yesterday to warn they will “shut the country down” with a repeat of the 1958 General Strike, unless the Prime Minister meets with them in the next 48 hours to resolve the Sandals situation.
PM unveils lease-to-own Crown Land return plan
The Prime Minister has pledged to launch a lease-to-own initiative involving Crown Land to entice Cat Islanders to return home.
Subsidies jump despite $31.5m Bahamasair fall
Subsidies to loss-making state-owned enterprises (SOEs) increased by more than $25m during the nine months to end-March 2022 despite an even greater drop in taxpayer support for Bahamasair.
CHAMBER VOICE: A rallying cry for Bahamian ownership
As we pause to celebrate our National Heroes as individuals who have done good for the Bahamian people and nation, the local business community and the entire working class must also pause to evaluate our progression in industry.
Blockchain operator blasts ‘unfounded’ $20m lawsuit
A Bahamian blockchain and digital assets firm has slammed a $20m damages claim as “unfounded”, asserting that it was lavished with praise by the party making the allegations less than five months earlier.
More than 300 firearms seized by police this year
POLICE Commissioner Clayton Fernander said more than 300 firearms and more than 4,000 rounds of ammunition have been seized this year.
Port’s $31m refinance eliminates tariff rises
Nassau’s major cargo port says it has eliminated the possibility of any tariff rate increase by agreeing a refinancing of its near-$31m preference share debt that will slash interest costs by some $4.5m.
St Fort looks to make the most of new club stint in Japan
MARK St Fort looks to make the most of what could be a limited tenure with his new club in Japan. St Fort recently said the deal with SeaHorses Mikawa of the Japanese B-League was an unexpected opportunity due to restrictions of the COVID-19 pandemic and its effect on import players.
OFFICIAL MATCH BALL FOR THE FIFA BEACH SOCCER WORLD CUP REVEALED
LESS than 90 days remain until the official kickoff to the 2017 FIFA Beach Soccer World Cup and excitement throughout the country continues to build as another important milestone in the process was celebrated.
