Moody’s: Irma damage to ‘test Bahamas ability’
Moody’s has warned that Hurricane Irma will “test the ability” of the Bahamas and other impacted nations to repair the damage and service debt over the next six to 12 months.
Bimini businesses face ATM, energy disruption
Bimini businesses were yesterday said to be eager to “get back up and running” in the aftermath of Hurricane Irma, despite continued electricity supply and ATM service disruption.Edward Reckley, the Bimini Chamber of Commerce president, and Under the
Bahamas must handle arbitration locally first
The Bahamas must show it can effectively perform Alternative Dispute Resolution (ADR) at the domestic level if it wants to be recognised as an international arbitration centre, an attorney said yesterday.Caryl Lashley, founder of Alternative Dispute
Downtown resort 'risks total failure and collapse'
A downtown Nassau resort “risks total failure and collapse”, its owner fears, after a dispute with its management company saw it “frozen out” of the hotel’s accounting and reservation systems.Sunset Equities, owner of the 201-room Courtyard by Marrio
Bahamians 'put out of business' if no lending, exchange control ease
Bahamian companies will be “put out of business” if exchange controls and bank lending rates are not relaxed before this nation enters liberalised trade regimes.Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tr
Downgrade consequences 'too harmful to contemplate'
The Government “wholeheartedly agrees” with the IMF’s National Health Insurance (NHI) warning, a Cabinet minister saying: “We can’t spend money we don’t have.”Dr Duane Sands, minister of health, told Tribune Business that the Bahamas would “absolutel
New finance chief: 'Do more with less'
The newly-appointed Financial Secretary sees the Bahamas’ strained finances as “an opportunity” rather than a challenge, as the Government borrowed a further US$250 million.Marlon Johnson told Tribune Business that the syndicated loan taken out on Se
‘Running in quicksand’: BPL bond no cure-all
Bahamas Power & Light’s (BPL) proposed $650 million refinancing is “not the panacea” for this nation’s energy woes, which the private sector likened to “running in quicksand”.
DPM acknowledges tax exchange 'fall-out'
The Bahamas has no choice but to comply with international tax information exchange standards if it is to avoid ‘blacklistings’ and other negative impacts for the financial services sector.K P Turnquest, the Deputy Prime Minister, told a Securities C
Financial services 'challenged' to grow
Global pressures continue to impact the Bahamian financial services industry, the Deputy Prime Minister saying it remains” challenged to maintain and grow market share”.K P Turnquest told a Securities Commission industry briefing that while wealth co
Nassau/PI resorts in booking rebound
Bahamian resorts say they have already begun to see bookings rebound post Hurricane Irma, with one executive predicting an even bigger boost as travellers re-book.Ed Fields, Atlantis’s senior vice-president of public relations, told Tribune Business:
Irma deals 'big blow' to crawfish season
Hurricane Irma has dealt a “big blow” to the crawfish season, the Bahamas Commercial Fishers Alliance’s (BCFA) president warning of a “very tough Christmas” if the industry cannot recover.“Hurricane Irma dealt a bit of a blow to us,” said Adrian LaRo
Income tax is NOT ruled out
The Government has not ruled out implementing an income tax, the Deputy Prime Minister revealing yesterday: “We have to consider all options.”
Businessmen slam IMF’s ‘disastrous’ income tax plan
Bahamian businessmen yesterday slammed the IMF’s income tax proposal, demanding: “Don’t even talk to us about more taxation until the Government’s cleaned its house.”
Income tax ‘hard sell’ in Bahamas
Income tax will be “a hard sell” in the Bahamas, a former finance minister predicted yesterday, warning: “This country was built on tax evasion.”
