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Activist slams Shell LNG deal as ‘regressive step’
A WELL-known environmentalist yesterday said the adoption of liquefied natural gas (LNG) as the Bahamas’ main power source is a “huge regressive step”, questioning why the Government was not aggressively pursuing solar energy.
DPM: Business Licence fee is ‘inherently unfair’
THE Government is examining how to adjust a Business Licence fee that the Deputy Prime Minister yesterday branded “inherently unfair” to firms with high turnover and low profit margins. K Peter Turnquest, who is also minister of finance, described as “misinformation” any suggestion that the Government has committed to the European Union (EU) that it will introduce a corporate tax or income tax.
A Cabinet minister yesterday moved a parliamentary motion to create a select committee that will probe the the Bahamas Telecommunications Company’s (BTC) 2011 privatisation.
A Cabinet minister yesterday moved a parliamentary motion to create a select committee that will probe the the Bahamas Telecommunications Company’s (BTC) 2011 privatisation.
Govt continuing ‘targeted’ Customs Duty reductions
The Government is proceeding with its “targeted” reduction in Customs duties to accompany Value-Added Tax (VAT), a Cabinet minister has revealed, with more cuts to be triggered by enhanced revenue administration.
Mortgage Relief: 16%of targeted borrowers qualify
Some 16 per cent of troubled borrowers targeted by the Government’s revised Mortgage Relief Plan have been enrolled in the scheme, a Cabinet Minister yesterday saying it had already been “more successful” than the first version.
Correspondent de-risk threatening 25% of Bahamas institutions
The Central Bank’s chief inspector warned yesterday that 25 per cent of its licensees will find it “difficult” to maintain existing correspondent banking relationships, even though the Bahamas has not been exposed to “wholesale vulnerability” yet.
Hutchison ‘streamlines’ Freeport investments
The sales process for the 409-acre Grand Lucayan property on Grand Bahama is “still ongoing”, Prime Minister Perry Christie said yesterday.
Businesses monitor air cargo fall-out
Bahamian businesses are continuing to monitor the fall-out from new and increased Customs fines on the air cargo industry, which has prompted some carriers to threaten to withdraw from this market.
Air cargo costs to rise ‘tremendously’
Bahamians were yesterday warned that the cost of imported air freight will increase “tremendously” as a result of the new Customs fees and fines set to be imposed on operators from today.
Fishermen: Gov't late on storm relief
Bahamian fishermen are hoping the Government will give further thought to their cry for fuel concessions, one representative telling this newspaper: “That would go a long way to helping the industry”.
FNM deputy questions Mortgage Relief ‘sense’
The Christie administration’s revised Mortgage Relief Plan does not make much sense “on the face of it”, according to the Opposition’s finance spokesman, who questioned what return the Government would get for its $20 million ‘investment’.
Two-destination Cuba travel 'bit of a stretch'
A 'two-destination' travel arrangement that would see visitors to Cuba also travel to the Bahamas could be a “bit of a stretch”, the FNM's deputy leader believes.
MSC deal to give Bahamian company ‘widest ever smile’
The Bahamian leaseholder of Ocean Cay will have “the biggest smiles ever” as a result of the deal that will see Mediterranean Shipping Company (MSC) take over the island for its $100 million cruise port.
‘Bleak’ Xmas start for many retailers
Bahamian retailers yesterday described early Christmas season sales as “slow” and “bleak”, but expressed optimism they will see a major pick-up over the next week.
Education reform first step in ‘skills gap’ fight
CURRICULUM reform in the school system should be the first step in tackling this nation’s ‘skills gap’, a veteran educator arguing that the education system must shift to a model that requires all students to meet a certain standard before they can obtain a high school diploma.
Climate change exacerbates Bahamas’ major challenges
CLIMATE change is exacerbating the Bahamas’ challenges with food security, water scarcity and energy security, the Prime Minister said yesterday, over an issue that threatens this nation’s land mass.
Excise Tax snafu stymies start-up's 60 hires plan
A Bahamian-owned tobacco manufacturing start-up said yesterday it would pursue legal action as a “last resort” if it is unable to obtain an Excise Tax exemption on domestic sales, adding that its business model had been thrown “totally out of whack”.
'Internal brain drain'costs Bahamas $3.5bn
The Bahamas is losing nearly $3.5 billion to the “internal brain drain” caused by low worker productivity, a well-known eye doctor yesterday arguing this was having a greater economic impact than the loss of 61 per cent of tertiary-educated Bahamians to jobs abroad.
Union: City Markets behind over payroll
Union: City Markets behind over payroll By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE union representing City Markets workers has said it would welcome the sale of the struggling food store chain if it meant saving jobs, o
GDP boost from raising Bahamas' 60% net access
GDP boost from raising Bahamas' 60% Net access By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net LESS than 60 per cent of Bahamian homes have Internet access, the Bahamas Telecommunications Company's (BTC) chief executive has said
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