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‘Ship has sailed’ over Bahamas 15% revisit

THE Bahamian financial services industry’s call to “revisit” the 15 percent minimum global corporate tax is too late because “that ship that has sailed”, a prominent local banker warned yesterday.

Bahamas financial services: 'Revisit' 15% minimum tax

The Bahamian financial services industry is calling for the 15 percent minimum global corporate income tax to be "revisited" as it violates the sovereign right of nations to set their own tax systems and rates.

Deltec’s ‘secret’ $2bn credit line for FTX ally

A BAHAMIAN bank has been accused of aiding FTX by allegedly “sidestepping” this country’s banking laws, helping to “siphon off” customer funds and providing an up to $2bn “secret” credit line.

UN REPORTS ON DETENTION FLAWS: Forced confessions and prison problems among issues noted by group

THE United Nations Working Group on Arbitrary Detention (WGAD) offered a searing assessment of the country’s detention systems, finding numerous faults relating to how the criminal justice system treats people deprived of their liberty.

WORLD VIEW: Breaking the OECD hold on global tax governance

“THE Organization for Economic Cooperation and Development (OECD) is nothing less than a Club of the world’s wealthiest countries which is determined to bend powerless countries to its will”. I wrote that statement in 2002 after four years of negotiations with the OECD against its unilateral imposition of a regime to counter what it called the ‘Harmful Tax Competition Initiative (HTCI)”, launched in 1998.

Residents ‘adamantly’ oppose resort’s West Bay expansion

Residents in two western New Providence communities are “adamant” a hotel should not be given permission to re-zone a West Bay Street property as “commercial” so it can develop a grocery store, cafe and other amenities.

Junkanoo Beach chief backs management company idea

The Junkanoo Beach Association's (JBA) president yesterday argued that his group would be the best management authority to administer the destination should the Government choose to outsource this responsibility.

AG: Minimal benefits from Commercial Enterprises Act

The Attorney General yesterday said he believes the Commercial Enterprises Act has brought minimal economic benefits to The Bahamas as the Government now works to refocus the law on "empowerment zones".

BPL: $3m to resolve Station A deficiencies

Bahamas Power & Light (BPL) executives yesterday said the building housing New Providence’s baseload generation capacity requires close to $3m in repairs to address deficiencies and prevent it from falling apart.

Easy to fix issues at LPIA

I have concluded, perhaps disgruntedly, that there is something broken in the Customs process at LPIA

WORLD VIEW: CARICOM at 50: there is still hope

JULY 4, 2023 marks the 50th anniversary of the signing of the Treaty of Chaguaramas, the foundational document that brought the Caribbean Community and Common Market (CARICOM) into existence. With high hopes and lofty ambitions, the heads of government of the four largest independent Caribbean countries at the time embarked on a journey towards regional integration. They were later joined, to varying degrees of commitment, by 10 other countries.

Bahamas ‘shipwrecked’ if no Development Plan

The Bahamas will “end up shipwrecked” if it fails to fully revive the National Development Plan (NDP) as a mechanism to direct and benchmark improvements on key economic and social metrics, it was argued yesterday.

McAlpine’s GBPA takeover fear is irrational

Former Free National Movement MP Rev Frederick McAlpine’s opposition to the central government purchasing the Grand Bahama Port Authority seems to be irrational. In an interview with Tribune Business, McAlpine stated that “if you want to see how the Government will run the GBPA, look at how it operates the eastern and western parts of Grand Bahama.” Both areas on Grand Bahama resembles the Out Islands, which are mostly underdeveloped, as should be expected for a third world country.

Claims Bahamas 'in cahoots' with SBF are 'shockingly inappropriate'

An FTX creditor/investor group yesterday leapt to The Bahamas defence by branding claims that the Government was "in cahoots" with Sam Bankman-Fried as "shockingly inappropriate".

SEBAS EYES $200M INVESTMENT IN HOTEL: Project set to create over 500 jobs when done

Sebas Bastian’s Brickell Management Group is entering the resort industry with a 226-unit condo hotel as part of a $200m western New Providence development set to create over 500 full-time jobs at completion.

Minister: No ‘sweeping lay-offs’ from minimum wage increase

A Cabinet minister yesterday voiced confidence “there won’t be sweeping lay-offs” as a result of the 24 percent minimum wage increase despite previous warnings by petroleum retailers that they ma be forced to terminate staff.

National health care system plan

FROM the very early days of the late great and deeply lamented Sir Lynden Oscar Pindling, The Bahamas has been debating and talking about a National Health Care system, as nauseum.

Bowe cautious over ‘political posturing’ on inflation

A TOP financial expert has called for caution in political posturing over ways to ease the burden of inflation, explaining it is easy to “simply throw mud at a wall hoping something will stick”.

PM right on Ingraham

It was reassuring to hear the Prime Minister single out the ideological shift of the post-1992 era as the most important challenge to the development of this country. It hopefully signals an emphasis on reversing the failed policies of that era and shifting us back toward genuinely progressive economic policies.

Minister slams ‘lackadaisical’ investor compliance stance

A Cabinet minister yesterday slammed the Government’s “lackadaisical” efforts in ensuring investors live up to their Heads of Agreement obligations, adding: “There’s plenty of blame to go around.”

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