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Water Corp racked up $40m supplier debts

The Water and Sewerage Corporation (WSC) racked up a $40m debt owed to its major reverse osmosis suppliers since Hurricane Dorian struck in 2019, an MP said yesterday.

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FACE TO FACE: Kenise on track with a home-grown hit and skills she wants to pass on

WHAT do you get when you combine a hard-working mom with a passion for arts and crafts, a knack for doing business and a commitment to helping the next generation? You get “Something Beautiful” - that’s the name of Kenise Darville’s company, which is gaining popularity in the tumbler world with outstanding drinking pieces that are durable and memorable.

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Govt reverses previous administration's stance on Venezuela's Maduro regime

In light of three countries being excluded from the upcoming Summit of the Americas, Foreign Affairs and Public Service Minister Fred Mitchell has announced that the government is reversing the previous administration's position on Venezuela and is now supporting Nicholas Maduro's regime.

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Bank chief challenges PM over $80m ‘revenue loss’

A Bahamian commercial bank chief yesterday challenged the Prime Minister’s assertion that the Government lost $80m in revenues through the sector’s 2018 tax structure change to meet the European Union’s (EU) demands.

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PM ‘confident’ over bank tax despite blacklist fear

The Prime Minister yesterday voiced “confidence” that changes to commercial bank taxation will not violate existing agreements with the European Union (EU) despite Opposition fears it “could shake the foundation of our credibility”.

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GBPA: We’re ready for storm season

THE Grand Bahama Port Authority Ltd announced yesterday that it has completed a “robust and comprehensive” Storm Response Plan for the start of the new Hurricane Season.

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Change of routes in drug trafficking

NATIONAL Security Minister Wayne Munroe says officials have noticed new drug trafficking trends with smugglers using different routes than seen in past.

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Budget’s housing focus can be ‘windfall catalyst’

The Budget’s focus on stimulating home ownership “could be the catalyst that triggers an economic windfall” by boosting investor confidence in the wider economy, the Bahamian Contractors Association’s (BCA) president believes.

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‘We’re working with U.S. to track illegal firearms’

Prime Minister Philip “Brave” Davis said yesterday he is working with the United States on tracking firearms that enter into the country illegally but they still “need to do more”.

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Sands beer’s tax advantage threatened in Budget reform

Budget reforms designed to brew “a level playing field” among Bahamian beer manufacturers are threatening to cost one Grand Bahama producer the tax advantage it has long enjoyed over its BISX-listed rival.

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March air arrivals near to 75% of pre-COVID

Tourist arrivals to The Bahamas increased almost ten-fold in March 2022 compared to the prior year aided by the continued easing of COVID-related border restrictions and a rebound in global travel, it was revealed yesterday.

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Ex-BACO president in ‘non-compete’ dispute

A past Bahamas Association of Compliance Officers (BACO) president was yesterday said to be free to “engage in her profession” after a Florida appeals court refused to extend a non-compete injunction relating to a two-year legal battle.

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Family Island companies struggle with price rises

Family Island businesses yesterday said they are struggling to contain prices as they grapple with soaring inflationary pressures impacting the entire world.

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AML: 8,000 sign-up for shopper loyalty move

AML Foods says more than 8,000 consumers have already signed up for its latest loyalty initiative that has been launched to help Bahamians combat soaring inflation.

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Top aviation body: Delay Customs regime to 2023

The world’s largest aviation association is urging The Bahamas to delay implementing a new border entry and exit regime for private pilots until early 2023 amid fears the process will be “very tedious, cumbersome and unintuitive”.

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Fears VAT grab will ‘kill’ marina industry

The Association of Bahamas Marinas (ABM) president yesterday warned that reforms set to more than triple the tax rate imposed on foreign yacht charters will “kill” an industry that last year directly injected $122m into the economy.

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Halkitis: Opposition ‘dead wrong’ on budget

SENATOR Michael Halkitis yesterday defended the prime minister’s budget presentation in face of the opposition’s criticisms as he rejected their claims that the budget failed to address inflationary costs.

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‘About time’ high-end tax loopholes closed

Realtors yesterday said it was “about time” that the Government doubled the annual real property tax cap and sought to close “loopholes” that enable high-end condominiums in hotel rental pools to largely avoid tax.

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Don’t allow COVID apathy to ‘strangle economic rebound’

A top hotelier yesterday warned The Bahamas “must not allow apathy” to undermine the COVID fight, while admitting the surge in cases will make the Government “more tentative” over the further restriction easing sought by tourism.

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Bahamas urged: ‘Go back into the tourism business’

A prominent architect is arguing that The Bahamas must “go back into the tourism business for itself” to reverse the “dramatic drop” in its competitiveness versus faster-growing rival Caribbean destinations.