VAT's 'limited ability' to further cut deficit
Value-Added Tax (VAT) is already operating at “peak efficiency” and has “limited” ability to further narrow the Bahamas’ near-$700 million fiscal deficit without major spending cuts.The Inter-American Development Bank (IDB), in a paper released yeste
AML Foods unveils 5-year growth plan
AML Foods is targeting two new stores in southern New Providence within the next five years, while also scouting for a “more modern” location for its Cost Right Nassau outlet.Franklyn Butler II, the BISX-listed food and franchise group’s chairman, to
BTC to further grow franchise network
The Bahamas Telecommunications Company (BTC) will continue to expand and strengthening its franchise store network, a senior executive yesterday saying this demonstrated its commitment to small businesses.Carlyle Roberts, BTC’s vice-president for ent
Chamber chief: ICT can be next economic pillar 'without fail'
A private sector executive yesterday said information and communications technologies (ICT) can become the next pillar of the Bahamian economy “without fail”.Edison Sumner, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief e
Bahamas urged: Show you're not a 'tax haven'
The Bahamas must aggressively demonstrate and market that it is not an ‘offshore tax haven’, a US tax attorney yesterday saying this nation is “fighting perception more often than reality”.Caroline Ciraolo, a former US Department of Justice Tax Divis
IAN FERGUON: Be sensitive to millennial needs
Current global research indicates that millennials (persons born between 1982 and 1998) will account for 50 per cent of the total global workforce by 2020. There is no way of avoiding the large number of young people that are flooding into the workpl
Medical centre relaunches with specialist providers
The MedNet Group of Companies, headed by Dr Charles Diggiss, has re-launched the Centreville Medical Centre (CMC) at the corner of Collins Avenue and Sixth Terrace.Services available include The Women’s Specialist Medical Centre; Ritecare Clinics for
Bahamasair: $22m loss maker guilty of predatory pricing
The Minister of Tourism’s recognition that Bahamasair’s multi-million dollar taxpayer subsidies enable it to undercut rivals was yesterday branded “critical to the survival” of private Bahamian airlines.
Sir Franklyn: Homeowner Protect Act 'a real disaster'
Arawak Homes chairman yesterday urged the Government to “urgently review” the Homeowners Protection Act, branding it “a real disaster” for the Bahamas’ struggling mortgage market.Sir Franklyn Wilson, a well-known Progressive Liberal Party (PLP) suppo
Minister contradicts Sebas with money transfer 'blacklist'
The Minister of Tourism yesterday contradicted Sebas Bastian, Island Luck’s principal, by suggesting the Bahamas’ could again be ‘blacklisted’ through web shops acting as unregulated money transfer businesses.Dionisio D’Aguilar, in an address to the
Realtor fear on 50% permanent residency rise
Realtors last night described the Government’s revised plans to increase the permanent residency threshold by 50 per cent, from $500,000 to $750,000, as “bad news” and something to “head off”.Brent Symonette, minister of financial services, yesterday
Tourism flat-lines as yields off 28% since millennium
A 28 per cent decline in per tourist spending yields since 2000 has resulted in “no growth” this century in the Bahamas’ largest industry, the Minister of Tourism revealed yesterday.Dionisio D’Aguilar told the House of Assembly that the decline in pe
KPMG Bahamas to sponsor regional infrastructure forum
KPMG Bahamas yesterday said it will be a title sponsor of the Caribbean Infrastructure Forum (CARIF), which will be held from December 11-12 in Montego Bay, Jamaica.Following successful KPMG Island Infrastructure summits in 2011, 2013 and 2015, the a
Baha Mar marketed at invitation-only forum
Baha Mar recently attended the invitation-only 2017 ILTM North America conference, where it introduced the $4.2 billion destination resort to travel agents, journalists and advisors from the Western Hemisphere.“The executive team was honoured to intr
Bahamas to chair tourism's Commission for Americas
The Bahamas has been elected as Commission for the Americas (CAM) president by the United Nations World Tourism Organisation (UNWTO).Dionisio D’Aguilar, minister of tourism, will assume the seat for the next two years following the 22nd session Gener
