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Champions emerge in 1st King Eric Memorial Golf Classic

THE team of national team member Peter McIntosh and his cousin John’ Baldy’ McIntosh emerged as the champions of the first King Eric Gibson Memorial Golf Classic at Lyford Cay Golf Club on Sunday.

Tax justice and what it would mean for the Bahamian economy

IN July, the Observer newspaper in Britain published an exhaustive study by the Tax Justice Network asserting that at least $21 trillion of unreported private financial wealth was hidden in secret tax havens by the global super-rich elite at the end of 2010 – a sum equal to the combined size of the American and Japanese economies.

Yacht broker alarm on 'dismal' winter charters

Bahamian yacht brokers yesterday warned charter bookings for the peak winter season are "dismal" with the sector "almost at a standstill" due to VAT's imposition and lack of clarity on how it works.

‘No reason to panic yet’ on 91% deficit

THE Government’s top finance official yesterday assured he has “no reason to panic yet” over the early 2023-2024 fiscal deficit as VAT revenues for December exceeded the prior year by 16-17 percent.

Renewable energy: URCA's revisions 'worst imaginable'

Renewable energy providers yesterday blasted proposed new regulatory guidelines as “the worst imaginable” solution that threatens to “set The Bahamas backwards as a nation”. The Sustainable Energy Association of the Bahamas (SEAB), in particular, wa

PETER YOUNG: With the world watching, will our leaders rise to the challenge?

ITALY and Scotland have been the focus of international diplomacy this past week. Rome hosted the two-day G20 meeting of the world’s wealthiest countries, and this was followed on Sunday by the official opening of the UN Climate Change Conference, COP26, in Glasgow, with most of the G20 leaders travelling there direct from their Rome meeting.

GLIMMER OF HOPE: Ratings agency S&P sees economic upturn but private sector cautious

The Bahamas does “not have enough control over our own plight” to take comfort from Standard & Poor’s (S&P) belief that COVID devastation has “bottomed out”, it was argued yesterday.

SANCHESKA V RENALDO: NFL Picks Week Seven

The “I Take Everything Back” Award presented by every ex-boyfriend of Scarlett Johansson - Bob McAdoo. Odell Beckham Jr was a distraction until he caught eight passes for 222 yards and two touchdowns.

VAT pitfalls and how to avoid them

NOTHING has been debated more this year than the single acronym known as VAT, or “Value-Added-Tax,” which came into the spotlight following the current government’s announcement as supported by the IADB (Inter-American Development Bank) and IMF (International Monetary Fund).

PM slams Ingraham Gov’t on Hutchison GB port monopoly

The Prime Minister yesterday slammed the former Ingraham administration for granting a monopoly that complicated negotiations over Carnival Cruise Lines’ new east Grand Bahama port.

Gov’t to phase-out VAT bi-annual filing

The Government is moving to eliminate the bi-annual filing of Value-Added Tax (VAT) returns by year-end, in a bid to boost its cash flow and obtain more consistent returns.

S&P warned: Don’t ‘rush to judgment’ on credit downgrade

A well-known businessman yesterday urged Standard & Poor’s (S&P) not to “rush to judgment” and downgrade the Bahamas as a result of the Baha Mar impasse, adding that the only thing this country is losing is “time”.

AML earnings warning: VAT’s ‘put us back’

AML Foods yesterday warned that earnings for its current financial will be hit by Value-Added Tax’s (VAT) impact on consumer spending, with a 2 per cent sales decline year-to-date having “put us back a few steps”.

Moody’s: Debt’s ‘peaked’ at 66%

Baha Mar “doesn’t take away” from the Government outperforming its key revenue and fiscal targets, a credit rating agency yesterday disclosing that it was impressed by the more than three percentage point cut in the 2014-2015 fiscal deficit.

Arawak Homes set for ‘reinvention’

Sunshine Holdings’ $20 million preference share issue “worked out better than we thought”, its chairman said yesterday, unveiling plans to “reinvent” its Arawak Homes subsidiary.

AML targeting full year '12 cent' dividend yield

AML Foods believes it will generate a full-year dividend yield of $0.11-$0.12 per share, after it yesterday unveiled an almost 10-fold year-over-year net income increase for its second quarter.

FINCO’s $22m ‘warning’ affirms mortgage crisis

FINCO’s $22 million provision warning was yesterday seen as a further sign that the Bahamas’ mortgage crisis is “deteriorating”, a leading businessman suggesting its announcement “may not be the end” of the sector’s woes.

THE FINISH LINE: Marathon Bahamas is growing by leaps and bounds

IT’S not how you start, nor how you get there, but more importantly, it’s how you finish.

‘Fortunate one-offs’ in $4m Fidelity boost

Fidelity Bank (Bahamas) chief executive yesterday conceded that its record-breaking 2015 profits may have been “fortunate”, after they received a $3-$4 million boost from ‘one-off’ events.

FTX’s Bahamas cash shrank 76% in month before collapse

Cash assets held by FTX’s Bahamian subsidiary were “materially depleted” to the extent they shrank by 76 percent - or more than three-quarters - in the five weeks immediately prior to the crypto exchange’s implosion.

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