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Moody's predicts $82m fiscal deficit overshoot

Moody’s is predicting that the government will overshoot its 2019-2020 deficit target by more than $82m and take longer than anticipated to produce the budget surplus it is seeking.The international credit rating agency, in its latest update on The B

AG ‘reach out’ over web shop tax snafu

The attorney general will “reach out” to Wayne Munroe QC today to find out why his web shop clients are not paying the taxes agreed under the government’s settlement with the industry.

Ex-minister urges: Stop 'strong arm' web shop tactics

A former Cabinet minister yesterday urged the government to work with web shop operators rather than “strong arming” them, adding: “They need the money.”

Carnival brings in more training after dumping

CARNIVAL vessels have submitted three reports to maritime authorities in the current 2018/2019 fiscal year, The Tribune has been told.

Domestic banks in 10% cost increase

Domestic banks and trust companies endured a near-ten percent operating cost increase in 2018 amid continued expense and regulatory pressures on the wider financial services industry. The Central Bank’s survey of the sector’s 2018 contribution to Ba

Govt focusing on ‘hand ups, not give aways’

The deputy prime minister yesterday defended the government as “very responsive” to the poor’s needs, as it was focused on “providing a hand up” rather than “giving away money”.

Bahamas Waste chief hails ‘best year in 30-year history’

Bahamas Waste’s chairman has hailed the company’s “best year in its 30-year history” after 2018 profits soared 18 percent year-over-year to $1.348m.

Evasion loopholes hitting VAT target, fears ex-minister

A former finance minister yesterday urged the government to examine whether the VAT shortfall had resulted from the introduction of exemptions opening up fraud and tax evasion loopholes.

Decision to discharge pair of criminal charges remains 'undisturbed'

THE Court of Appeal has dashed the Crown's hopes of overturning a magistrate's decision to discharge a Haitian woman and her brother of criminal charges.

ZNS hit by $542,000 satellite breach claim

ZNS has been hit with a $542,000 damages claim for terminating a satellite leasing contract two years' early, Tribune Business can reveal.

Revenues beat budget target by $81M

COLLECTIONS of stamp taxes on financial and realty transactions “surged two-fold”, from $109.5m in fiscal year 2017/18 to $225.3m in fiscal year 2018/19, outpacing the budgeted $143.7m the Ministry of Finance’s fourth quarter fiscal snapshot and repo

BISX-listed insurer in 29% profits rise

Colina Holdings (Bahamas) yesterday unveiled a 29 percent year-over-year increase in total net income to $8.9m for the 2019 first half.The BISX-listed holding company, revealing a $2m bottom line increase upon last year’s $6.9m, said net income attri

Bahamas First: No ‘abrupt change’ as profits drop 41%

Bahamas First’s top executive yesterday said there was “no reason to change” investment strategy after profits fell 41 percent in 2018 due to a negative $6.7m swing in portfolio values.

Privatisation target in just 2% annual growth

The government’s latest privatisation target is forecasting annual revenue growth of just two percent over the next decade, with the selection of a preferred bidder targeted for end-July 2019.

MP's firm misses chance to overturn its eviction

FOX Hill MP Shonel Ferguson’s investment company has squandered a chance at having the Privy Council overturn its eviction from a building it never paid real property taxes on since assuming responsibility for it some 13 years ago.

The world is changing and we must react

The boom and bust cycle of the global economy is well established. WTO says global trade has under performers with growth of 3% and is expected to decline in 2019 to 2.6 %. The IMF forecast a global slowdown for 2019. The United States (US) is the world’s largest economy in nominal GDP so I will focus mainly on the US in my analysis.

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