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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”.
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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.
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Tourism ‘firing on all cylinders’ via 9% rise
A Cabinet minister yesterday said Bahamian tourism is “firing on all cylinders” with forward stopover bookings for the next three months some nine percent ahead of 2018 comparatives.
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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.
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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.
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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.
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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
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National debt now over $8bn
The Bahamas’ national debt broke through the $8bn mark during the quarter to end-September 2018 despite a reduction in its growth rate due to narrowing government deficits.
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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
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Regulator unveils its examination priorities
The Securities Commission yesterday announced that its 2019 licensee examination priorities are anti-money laundering compliance and the appropriate risk-rating of clients.
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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.
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Governor: Target ‘minimum’ 2% for GDP growth
The Central Bank’s governor yesterday said The Bahamas needs to target a “minimum” of two percent annual GDP growth as he called for “stronger inroads” into double-digit unemployment.
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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.
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Sir Franklyn: ‘High chance’ of new Atlantis ownership
Sir Franklyn Wilson says there is “a high possibility” that Atlantis may undergo a change in ownership in 2019, describing this as a “significant” investment boost for The Bahamas.
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GB revival to ‘relieve major job pressure’
Reviving Grand Bahama’s economy will “relieve tremendous pressure” on the rest of The Bahamas, the deputy prime minister said yesterday, following the unemployment rate’s rise to 10.7 percent.
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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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Government announces plans to borrow $87m
THE Minnis administration yesterday moved two resolutions to borrow a combined total of nearly $87m to defray expenditure and to fund the implementation of a street lighting-retrofitting project.
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Torture trio told - you’re out of time
THREE people who say police tortured them for confessions before releasing them without charge were told this week the time has expired for their matter to be addressed by the Royal Bahamas Police Force, despite the timely complaints they made.
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Unemployment rate down to 9.5 percent
THE national unemployment rate has improved - with labour force officials revealing on Friday a decrease to 9.5 percent.
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Govt 'has strategy' to oppose EU 'high risk' decision
ATTORNEY General Carl Bethel said the government has a strategy to oppose the European Union’s decision to classify the Bahamas as a "high risk" jurisdiction for financial crime.
