Insurer: 40% of market at price ‘tipping point’
UP to 40 per cent of Bahamian policyholders are opting to either drop hurricane coverage or take on higher deductibles, with property and casualty premiums yesterday said to have reached “a tipping point” for many.
Bahamas ‘supertanker’ won’t change overnight
The Bahamas will not achieve “the radical change” it needs overnight, a governance reform campaigner likening the required effort to the time it takes to “turn a supertanker”
Regulator focuses on credit unions’ political clients
The Central Bank yesterday unveiled changes to its anti-money laundering guidelines to reflect its takeover of credit union regulation, with particular emphasis on politically exposed persons (PEPs).
Revamped Employment Exchange to launch July 1
The Department of Labour’s revamped and modernised Employment Exchange is expected to go live on July 1, its director said yesterday.
Medical labs sign up despite NHI concerns
Medical laboratories yesterday said they were “willing to start” with National Health Insurance (NHI) despite lingering concerns over payment rates.
VAT refunds in ‘night and day’ improvement
Bahamian businesses have seen “a night and day” improvement in the timeliness of VAT refunds since early 2016, the Chamber of Commerce’s chairman yesterday revealing some had previously been enduring 12-15 month waits.
Bahamian vendor ‘outrage’ on $100k Fyre Festival debts
Bahamian vendors, some of whom are owed more than $100,000 by the now-infamous Fyre Festival, yesterday expressed outrage over the situation with many feeling they have been exploited.
Labour Dept launches Fyre Fest investigation
The Director of Labour yesterday confirmed he has launched an investigation into the infamous Fyre Festival debacle, having received “numerous complaints” from Bahamian vendors and workers who have not been paid.
Chef to sue over Fyre Festival pay
A Bahamian chef who catered to the ill-fated Fyre Festival yesterday said he plans to sue for monies owed to him, having been hired for the event by two University of the Bahamas (UoB) professors and a Ministry of Tourism executive.
Financial sector inspects ‘final’ tax reform draft
The Bahamian financial services industry is reviewing the “final draft report” on reforming this nation’s tax structure, as it bids to enhance the sector’s competitiveness by identifying new business possibilities.
VAT tops ‘laundry list of complaints’
Supervalue’s owner has urged the Government to make a Value-Added Tax (VAT) review its top priority, disclosing that the requirement for inclusive pricing had slashed the supermarket chain’s sales by 10 per cent.
Customs ‘on hook too’ over $10m in Fyre Festival gear
The Minister of Finance yesterday said Customs will not release $10 million of equipment imported for the ill-fated Fyre Festival until thousands of dollars in outstanding taxes are paid, adding: “We’re on the hook, too.”
Roberts: ‘We must work our way out of graveyard’
Supervalue’s owner is “100 per cent” sure the new government’s election will boost business and consumer confidence, but warned: “We have to work our way out of the graveyard.”
Govt urged to adopt ‘zero sum’ Budgeting
The newly-elected Minnis government has been urged to adopt a “zero sum” approach to next week’s Budget, with every department and ministry having “to justify every single cent” they demand.
Govt structure aids financial services Immigration ‘lever’
The Government’s has been praised for bundling Immigration with financial services in the same ministerial portfolio, a senior executive suggesting it would help “leverage real international business” for the Bahamas.
