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IDB brands price controls ‘poorly targeted subsidy’

The Government’s price controls are a poorly-targeted mechanism to counter soaring 16 percent food inflation as they benefit the rich as much as low income and vulnerable families, a multilateral lender is arguing.

Gas station warning of New Year lay-offs

A gas station operator yesterday warned the 24 percent minimum wage increase will “almost certainly” force the sector to cut staffing levels unless the Government grants a long-awaited margin increase.

Insurers: ‘Light at end of tunnel’ over taxation

Bahamian insurers yesterday voiced relief that there is “light at the end of the tunnel” after the Government said it would drop plans to move the industry to a Business Licence fee taxation regime.

Insurers: Don’t sleep on EU blacklisting ‘breathing room’

The Bahamas must not fall asleep after it gained “two years’ breathing room” to escape the European Union’s (EU) tax blacklist and preserve up to 40 percent of its hurricane reinsurance capacity, insurers are warning.