Story
Insurers dismiss VAT Act ‘misinterpretation’
BAHAMIAN health insurers yesterday said “no one wants to pay an additional 36 percent on their medical insurance” from April 1, 2023, when consumers will have to bear the full VAT burden on claims payments.
Story
FTX’s Bahamian customers financed SBF’s $546m deal
FTX’s Bahamian subsidiary, and its customers/investors, were yesterday said to have unwittingly helped finance a $546m investment by Sam Bankman-Fried that has now been seized by US federal authorities.
Story
Investment bank targets $150m ‘pipeline’ raises
A Bahamian investment bank yesterday disclosed it has $150m worth of transactions in “the pipeline” for 2023 amid “growing momentum” within the private sector to raise much-needed capital.
Story
Government hopes to seal BPSU deal - despite ‘disadvantage’
THE Davis administration hopes to conclude ongoing industrial agreement negotiations with the Bahamas Public Service Union this month, despite the union saying the government’s latest proposal puts its members at a “disadvantage”.
Story
Gov’t urged: ‘Drill down further’ on Business Licence suspicion
The Government must “drill down further” and obtain greater evidence to confirm its suspicions that many companies are under-reporting annual turnover to evade full payment of Business Licence fees.
Story
Stop ‘squeezing blood from stone’ on taxation
The Bahamas must reform a tax system that “squeezes blood from a stone”, a well-known banker argued yesterday, renewing his plea for greater “equity” via income-based taxation.
Story
Small businesses facing struggle on NIB rate hike
BAHAMIAN small businesses will struggle to absorb any National Insurance Board (NIB) contribution rate increase due to the multiple other expenses hikes they are grappling with currently, a sector consultant has warned.
Story
Broker integration vital to end $50m Customs loss
The Ministry of Finance yesterday asserted that broker “integration” with Customs’ systems is vital to eliminating more than $50m in annual revenue losses amid a continuing dispute over whether such requirements are lawful.
Story
Tighten ‘exit strategy’ on failed FDI projects
A prominent realtor yesterday argued that The Bahamas must craft a robust “exit strategy” for when major foreign direct investment (FDI) projects “go south”, adding: “Surely we’ve learned from our mistakes?”
Story
AID 'most concerned' over BPL rate hikes
A major Bahamian retailer yesterday voiced optimism that 2023 will be "marginally better" than last year while revealing it is "most concerned" about Bahamas Power & Light's (BPL) rate hikes depressing consumer spending.
Story
Gov’t warns US airlines: ‘You won’t bully Bahamas’
THE Government Wednesday warned the US airline industry that it will “not bully The Bahamas into surrendering its sovereignty” over assertions that this nation’s air navigation fees are excessive and unjust.
Story
$250m resort developer: We want to be with ‘best of best’
The developer behind Grand Bahama’s $250m Six Senses project yesterday said he wants it to be viewed “at the top level of resort development in the world” with a construction start targeted for early 2024.
Story
Opposition ‘stunned’ at tripling of property tax
The Opposition yesterday said it was “stunned” by the Government’s forecast that property tax revenues will more than triple to $555m within four years, its leader saying: “I don’t see what the Prime Minister does.”
Story
Anger over new business licence requirements for renewals
SOME small business owners expressed frustration over the new requirements affecting business licence renewals, describing them as “short notice”, “offensive”, “insensitive” and “cruel”.
Story
‘$400m opportunity’ to double cruise spend
Nassau has a “$400m opportunity” to double gross cruise passenger spending if it can fully capitalise on the “springboard” provided by the 900,000 visitor increase forecast for 2023, its port chief argued yesterday.
Story
‘Future generations and youth let down’ over NIB
The National Insurance Board (NIB) must be given more independence from government, a pension specialist urged yesterday, adding: “Successive administrations have let the youth and successor generations down.”
Story
Pharmacies hopeful new price controls ‘cease’ next Tuesday
Pharmacies are voicing cautious optimism that their lower-margin price control regime could end as early as next Tuesday with the industry also pushing for a reduction in work permit fees.
Story
Father of three killed on way to work – one of three shooting deaths in 24 hours
A FATHER of three was shot and killed in his car yesterday morning while on his way to work – one of three shooting deaths within 24 hours.
Story
Construction chief challenges minority foreign owner block
The Bahamian Contractors Association's (BCA) president has challenged whether the Government can lawfully bar a foreign investor from becoming a minority partner in a local construction company.
Story
Hot Mix and CFAL’s chief in GB airport bid
A well-known Bahamian contractor and local financial analyst were yesterday said to have partnered on a bid to transform Dorian-ravaged Grand Bahama International Airport.
