No VAT in Govt’s vacation rental deal with Airbnb
The Minister of Tourism yesterday said he did not want to impose “too much regulation” on the vacation rental market, following the Government’s signing of a Memorandum of Understanding (MoU) with Airbnb.
Govt alarmed over web shop draw, product rise
The Government is becoming alarmed by the rapid expansion in web shop products and draw frequency, a Cabinet Minister revealed yesterday.
PM: ‘Fully capitalise’ on heritage, cultural tourism
The Prime Minister yesterday urged the Bahamas to “fully capitalise” on cultural and heritage tourism, foreshadowing plans for a maritime museum and ‘Over-the-Hill’ native food market.
Oil explorer’s extra $3.25m ‘encouraging for Bahamas’
An oil exploration firm yesterday said it was “encouraging for the Bahamas” that it had raised $3.25 million to finance its operations, despite “frustratingly slow progress” in finding a joint venture partner.
DPM: We must be competitive with no protectionism
The private sector was yesterday challenged to become more competitive in an open market economy, although the Deputy Prime Minister conceded that the Government is sensitive to giving Bahamian manufacturers some protection.
$9.5m PI property is life and soul of realty party
A Bahamas Realty executive staged a party at the actual eight-bedroom, $9.5 million Paradise Island property she was trying to sell to stimulate buyer interest.
Troubled broker’s ‘asset deficit’ facing scrutiny
Liquidators for a troubled Bahamian broker/dealer, which admitted to misusing almost $4 million in client monies without permission, were yesterday assessing how to deal with its asset “deficit” after it was place under Supreme Court supervision.
‘New sheriff’ PM recalls how corruption hurt him
The Prime Minister yesterday promised the private sector there was “a new sheriff in town”, as he recalled how his business ventures had twice been impacted by Bahamian government corruption.
Electronic payment license Island Luck’s ‘top priority’
Sebas Bastian’s Island Luck group yesterday said it was targeting remittance and electronic banking licenses as “top priority”, as it prepares to submit paperwork for an initial public offering (IPO) by next week.
Relocate Govt offices to revive Bay Street
Downtown Nassau’s revival could be sparked by moving key government agencies there “to spur economic activity”, a well-known accountant arguing the area should not solely rely on tourists.
‘Devil is in details’ on Fiscal Responsibility
The Government is “definitely on the right track” with its promised Fiscal Responsibility legislation, a governance reform group said, while warning: “The devil is in the details”.
‘Shot across the bows’ on Bahamas debt limit
The Bahamas yesterday suffered “another shot across the bows” after an Inter-American Development Bank (IDB) report revealed it has exceeded its sustainable debt limit by more than 20 percentage points.
Baha Mar expats make ‘PR nightmare’ warning
Baha Mar’s former expatriate staff yesterday slammed the discriminatory creditor payouts, and warned that the resort and the Bahamas “could face a PR nightmare if word of this leaks out”.
Outgoing Junkanoo Carnival chief: Don’t ‘disrupt’ festivities
The outgoing Bahamas Junkanoo Carnival chairman yesterday urged the Government not to “disrupt” or cancel the event, arguing that this would “waste” the taxpayer’s near-$25 million investment.
‘Undesirables’ killing off jet ski industry
A veteran jet ski operator yesterday conceded the industry is “dying” because of alleged crimes against tourists, admitting it has attracted many “undesirables”.
