The Bahamian construction industry was yesterday “cautiously optimistic” that a resolution to its collective $74 million Baha Mar receivable is in sight, although “not everyone” will be made ‘whole’.
The Government appears to have avoided the “typical pie in the sky” pre-election Budget, the Chamber of Commerce’s chairman said yesterday, while conceding: “The numbers may tell a different story.”
The Government’s purported deal with the Chinese for Baha Mar’s construction completion has only “muddied and confused” the situation further, an ex-Board member yesterday suggesting they were taking a ‘backwards’ approach to resolving the impasse.
The Opposition’s deputy leader yesterday slammed the Government’s frequent real property tax arrears amnesties as “counter-intuitive”, arguing that they effectively penalised compliant home and business owners.
A Nassau-based financial services provider yesterday said it was “bucking the trend” of contraction in the Bahamian financial services sector with the launch of its own private bank and trust subsidiary, its chairman telling Tribune Business: “It simply gives us less competition”.
When we consider the length of time we spend in the workplace, and the many different personalities we encounter, it is not surprising that we come into occasional conflict.
The Opposition’s finance spokesman yesterday said it was “disingenuous” for the Christie administration to tout its $20 million apprenticeship programme as something different than the 52-week job programme launched by the former Ingraham administration, and which it had heavily criticised.
Prime Minister Perry Christie yesterday slashed a full percentage point off the Bahamas’ projected economic growth for 2016, cutting real GDP expansion estimates to just 0.5 per cent.
The Government yesterday forecast a more modest pace for fiscal consolidation, projecting a higher $100 million GFS deficit for the upcoming 2016-2017 Budget year compared to its estimates a year ago.
Prime Minister Perry Christie yesterday revealed it will take a further two years for Bank of the Bahamas to return to profitability, as he confirmed plans to recapitalise the troubled institution.
The Prime Minister yesterday said Atlantis’s ‘most favoured investor’ status made it impossible for him to grant the type of incentives the Chinese were said to be demanding over Baha Mar.
Cable Bahamas yesterday said the clock had started running on the aggressive roll-out timetable for the second mobile operator to launch services to 99 per cent of New Providence within three months, after the Government approved its licensing.
The Opposition yesterday argued there was “nothing to celebrate” in the Christie administration’s revelation that it is only borrowing $99 million to fund the 2016-2017 fiscal deficit, its finance spokesman saying it had over-burdened Bahamians with taxes to achieve this.
The Government yesterday unveiled a revised Mortgage Relief Plan it believes could assist “upwards of 1,000 delinquent borrowers”, via a 20-25 per cent cut to monthly loan payments.
Prime Minister Perry Christie yesterday said more than 41,000 homeowners could benefit from the Government’s decision to waive real property tax arrears for owner-occupied homes valued at less than $250,000.