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Water Corp needs 'top up' to $20m subsidies
Water Corp needs 'top up' to $20m subsidies By NEIL HARTNELL Tribune Business Editor The Water & Sewerage Corporation will "definitely need" an increase to the existing $20 million taxpayer subsidy allocated to it for the 2011-2012 fiscal year, its gene
Are we truly Independent Bahamas?
HAPPY 50th Anniversary Bahamas: What should we do in the next 50 years and beyond? Considerations for constitutional change.
Loan approvals hit six-year low
Bank loan approvals fell to their lowest level for six years in the 2020 second half, it was revealed yesterday, with just two-thirds of applicants approved compared to 80 percent in the prior year.
COVID’s ‘timing concerns’ for $24.5m cruise port IPO
Nassau Cruise Port’s chief executive yesterday said COVID-19’s economic impact has caused “concerns with the timing” of its plans for Bahamian investors to gain ownership in the $250m project.
BPC director blasts 'preposterous' action
A Bahamas Petroleum Company (BPC) director yesterday slammed "preposterous" environmental activists for seeking to block this nation from discovering whether it has natural resources to exploit.
Central Bank back in compliance on Gov't debt limits
THE Central Bank yesterday said its government debt holdings are back in compliance with its governing Act, with medium and long-term maturities equal to 12.52 per cent of its demand liabilities.The regulator, responding to the IMF’s Article IV repor
Web shops facing taxation 'wipe out'
Sebas Bastian yesterday warned web shops face a “wipe out” from tax increases of up to 355 percent, as the sector accused the government of deliberately seeking to “cripple” it.The Island Luck chief confirmed to Tribune Business that he, and other op
PHA: Expansion of salaries and benefits 'not sustainable at this time'
THE Public Hospitals Authority has disclosed that the expansion of salaries and benefits of medical personnel is “simply not sustainable at this time”, in the wake of last week’s demonstrations by healthcare unions over such outstanding issues.
'How could I compete' against 7 cents power?
A Bahamian businessman yesterday questioned “how am I supposed to compete” against foreign rivals whose all-in electricity costs are almost two-thirds lower than BPL’s fuel charge.Robert Myers, who also heads the Organisation for Responsible Governan
Electric vehicle dealer targets sales doubling
A Bahamian electric car dealer yesterday voiced optimism that it will “double” year-over-year vehicle sales in 2022 having just placed a record 100-strong order with its Chinese supplier.
Nassau ‘leads Americas’ on cruise ship port visits
Nassau Cruise Port is handling “more cruise ships than any port in the Americas”, its chief executive said yesterday, adding that “we’re well on our way to climbing out” of COVID’s devastation.
Web shop tax hikes ‘in our best interests’
The web shop industry tax hikes are in “the best interests of the Bahamian people” due to the social costs the sector imposes, a Cabinet minister argued yesterday.
Govt can save $80m by ‘verifying’ workers
The Bahamas Public Services Union’s (BPSU) president yesterday suggested the Government’s ‘employee verification’ exercise could slash recurrent spending by around $80 million.
‘No room for failure’ on auto tax exchange
The Bahamas “has no room for failure” in implementing automatic tax information exchange, a prominent QC warned yesterday, adding that it would be “extremely prejudicial” to this nation’s interests to miss the 2018 launch date.
EDITORIAL: Bahamians – understand the past to find the future
PHILIP “Brave” Davis, who now heads an Opposition of three members in an FNM parliament, although admitting that his party made mistakes during its five years in office, saw no reason to apologise to anyone for those “mistakes”. Not only was he not going to apologise, but he wanted Bahamians to note that after only three months in office the FNM have shown that they have no plans to eradicate crime.
Bahamas ‘grew’ stopover market share during 2012
Hotel industry leaders yesterday disputed Moody’s assertion that the Bahamas had lost stopover visitor market share to Caribbean rivals, saying this nation “held or slightly increased” its share in 2012 - a year that 1.35 million air arrivals made the best since 2008.
Warning of lower growth than forecast
The International Monetary Fund (IMF) yesterday slashed its 2013 economic growth forecast for the Bahamas by 80 basis points, prompting an Opposition MP to urge: “We have to find new ways to grow this economy.”
VAT not mandatory for 15,000 firms
More than 80 per cent of Bahamian companies, numbering more than 15,000, will not be mandated to pay Value Added Tax (VAT), with financial services and health/education among the industries exempt from paying it.
Carrier's $40m spend waits on Gov't approval
A Bahamas-based communications provider will invest at least 80 per cent of its planned $50 million capital expenditure programme in this nation, once the Government approves its majority acquisition by an international player.
$50m capital raising comes Aliv next week
The Bahamas’ new mobile operator will bring a $50 million capital raising ‘Aliv’ next week, its advisers yesterday predicting “a very successful offering”.
