Ticking timebomb of $3.7bn pensions
The Government’s unfunded multi-billion dollar pension liabilities, projected to hit $3.7bn by 2030, were yesterday branded “a big time bomb waiting to go off”.
BICA chief welcomes fiscal 'seat at table'
THE Bahamas Institute of Chartered Accountants (BICA) president yesterday welcomed the “seat at the table” to assess the Government’s fiscal responsibility compliance.Gowon Bowe, pictured, speaking at a press conference to announce the long-awaited r
IMF: 10 years to hit long-term debt goal
The Bahamas will take ten years to hit its long-term debt target, the IMF warned yesterday, as it again blasted the Christie administration’s “lax spending control” pre-election.The International Monetary Fund (IMF), in its latest Article IV report o
Christie Gov't deficit 1,060% above responsibility target
The Deputy Prime Minister yesterday said the Fiscal Responsibility Bill will prevent a repeat of the 2017 pre-election spending splurge by requiring reporting to Parliament.K P Turnquest said the legislation mandates a “Pre-Election Economic and Fisc
Entrepreneur plans nightlife exposure
A Bahamian entrepreneur is aiming to launch a website and mobile app that will promote all activities this nation offers to locals and visitors alike.Sherwin Johnson, EVO Bahamas’ president, said he hopes to unveil the Bahamas Nightlife website and m
Bahamas representsat STEP conference
The Bahamas Financial Services Board (BFSB) made sure this nation was well represented earlier this month at the annual Society of Trust and Estate Practitioners (STEP) Caribbean Conference.The summit was held in Bridgetown, Barbados, from May 7-9 un
BICA chief: avoid 'stretch' targets on fiscal responsibility bill goals
The Bahamas must avoid setting “stretch” fiscal targets, a top accountant warned yesterday, branding the 0.5 per cent deficit goal as “aggressive but achievable”.Gowon Bowe, the Bahamas Institute of Chartered Accountants (BICA) president, told Tribun
GB Power upgrades boost web efficiency
Grand Bahama Power Company’s (GBPC) website revamp, pictured, aims to provide customers with greater efficiency and security, following its May 1 launch. Dominique Pinder, GBPC’s customer service manager, said: “As the island’s utility, GBPC is commi
New fiscal discipline is 'no magic bullet'
The Deputy Prime Minister is warning that today’s long-awaited release of Fiscal Responsibility legislation is no “magic bullet” for The Bahamas’ deep-rooted financial woes.Confirming that the Government will unveil its signature fiscal reform within
Minister: Block welfare recipients from gaming
The Gaming Board is “under pressure to change the game on the ground” and better protect the most vulnerable Bahamians from irresponsible gambling, a Cabinet Minister has revealed.Dionisio D’Aguilar, pictured, minister of tourism who has responsibili
'Financial Council' will oversee gov't finances
The Government’s Fiscal Responsibility Bill will create a non-political “Council” to oversee its financial stewardship, with the law yesterday hailed as a safeguard against national “bankruptcy”.Matt Aubry, executive director of the Organisation for
Gov't in 'tug of war' with freight, cruise industries
The Government’s plan to introduce a “mandatory tug boat fee” has been met with furious opposition from commercial shippers and cruise lines, amid fears it will further undermine Nassau’s competitiveness.Michele Paige, the Florida-Caribbean Cruise As
Hotel union elections gain court go-ahead
The hotel union’s general secretary says “time is of the essence” to elect new leadership after the Supreme Court removed an injunction preventing candidate nominations and voting.Darren Woods, the Bahamas Hotel, Catering and Allied Workers Union’s (
Bahamian analysts in excellence award win
The Bahamas’ Chartered Financial Analyst (CFA) Society has received the global network’s 2018 Excellence Award for its initiative to build market integrity.It received the CFA Institute’s 2018 Society Excellence Award on May 10, 2018, at its global l
Bahamas firm in China modular housing deal
A Bahamian company last Friday signed an agreement with its Chinese counterpart to pave the way for co-operation on modular housing construction.Latrae Rahming, Bahamaren’s managing director, and Michael B Wei, China Construction Modular Housing Comp
