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Election nonsense
The usual PLP stalwarts have come out with the predictable drivel in your letters page reference the election.
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Kanoo still paddling on health travel visa
A Bahamian digital payments provider that was earlier this year ensnared in health travel visa-related controversy yesterday said it has remained on the job despite the change in government.
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Davis: Climate change an existential threat to nation
PRIME Minister Philip “Brave” Davis stressed the impact climate change has on low-lying countries like The Bahamas while calling on international youth leaders to lobby for change.
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Credit unions brace for ‘heightened oversight’
The Central Bank has pledged that credit unions will be subjected to “heightened oversight” because they have “very minimal excess capital” with which to withstand a surge in COVID-related loan delinquencies.
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New mothers ‘at risk’ because of care disruption
DUE to high levels of COVID-19 infections in the region, prenatal and newborn care have been disrupted, leaving expectant and new mothers at risk, according to Pan American Health Organisation officials.
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Banks suffer 37% profitability decline
Bahamian commercial banks saw total private sector loan arrears increase by $76m during the 2020 fourth quarter as the sector’s collective profitability shrunk by 37 percent year-over-year.
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LARODA QUITS AS PUBLIC DISCLOSURE COMMISSION CHAIRMAN
CABINET Office yesterday announced the resignation of Myles Laroda as Public Disclosure Commission chairman.
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‘Public Disclosure Commission needs to be made independent’
PUBLIC Disclosure Commission Chairman Myles Laroda says the group needs to be independent of the government, a change that will give the body the “teeth” it needs.
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$6m claims jump drives Bahamas First into loss
Bahamas First has warned “it will take some time” to correct problems with its Cayman subsidiary’s life and health portfolio that have been blamed for a $6m-plus jump in claims payouts.
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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.
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Financial services shed nearly 160 jobs in 2020
The Bahamian financial services industry shed almost 160 jobs in 2020, a Central Bank report has revealed, with the banking sector suffering multi-billion dollar declines in “balance sheet” and “fiduciary” assets.
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Bank chief hopes Bahamians will have ‘learned their lesson’
The Clearing Banks Association’s chairman yesterday said he hopes Bahamians have “learned their lesson” from COVID-19 about the need to withstand economic catastrophe by building-up savings.
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FACING UP TO THE BRUTAL FACTS
• In the third of a four-part series, Hubert Edwards warns that The Bahamas must adopt a different mindset to develop its economy beyond the current model
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The taxing path
In the final part of a three-article series, Hubert Edwards warns that profound taxation reforms may be forced upon The Bahamas if it fails to remain alert
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A matter of life and debt
In the third of a four-part series, Hubert Edwards warns that in the absence of greater growth The Bahamas will be borrowing for some time to come . . .
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HUBERT EDWARDS: Reigniting the debate on Bahamian taxation
This will be a very interesting year economically. Continued COVID-19 headwinds, the first true Budget from the new administration and, consequently, the change in “ownership” of prevailing policy positions will definitely cause a shift in perspective.
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HUBERT EDWARDS: Reigniting the debate on Bahamian taxation
Commenting on public policy issues requires careful and determined effort given that these are always fluid and dynamic, while positions taken often draw scrutiny. Over this series of articles looking at the Bahamian tax regime, I am always mindful there are things I do not know, but with careful analysis there are important matters that can be explored. This, the final of four pieces, looks at developing issues that have the potential to move the needle while sharing a few cautionary points.