Bahamas ‘addicted to entitlements’
The Bahamas has become a nation “addicted to entitlement”, the Chamber of Commerce’s chairman said yesterday, arguing: “We have become a capitalist lifestyle jurisdiction that wants the socialist protectionism.”
PM targets Home Owner Protection Bill before election
Prime Minister Perry Christie promised yesterday to introduce more relief for struggling Bahamian homeowners before his administration’s term in office expires, as he touted the revised Mortgage Relief Plan for assisting 350 borrowers to-date.
Baha Mar finishes Grand Hyatt deal
Baha Mar’s new owner yesterday said it had finalised an agreement for Grand Hyatt to manage 1,800 rooms at two of its hotels, adding that its acquisition of the project was “not a one-shot opportunity”.
Gov’t tackling NHI ‘cobwebs’
Prime Minister Perry Christie yesterday pledged that National Health Insurance (NHI) will be a “positive boost” to the Bahamian economy, saying this was supported by a recently-completed study from the Government’s KPMG consultants.
Auto chief: Raise VAT, end Business Licences
The Bahamas Motor Dealers Association’s (BMDA) president has urged the Government to “completely eliminate” Business Licence fees to stimulate the private sector, saying: “We’re being nickled and dimed to death with taxation”.
Memories operator in $110m group bid for Grand Lucayan
The Government has committed $2.5 million to speeding up repairs on Freeport’s Memories resort, with its operator part of a potential $110 million bid to acquire the Grand Lucayan property.
Auto dealers hope 7.1% sales growth is ‘bottoming out’
Bahamian auto dealers are hopeful that the industry has “bottomed out” after collective sales increased by 7.1 per cent in 2016, a figure that was inflated by ‘fleet deals’ with the Government.
Bahamas warned: Real estate market not ‘wrapped up’
Realtors and developers have warned the Bahamas against thinking it has the foreign home buyer market “wrapped up”, as they hailed the Government’s decision to “reconsider” a $1 million permanent residency threshold.
NHI providers to see ‘narrowed pay gap’
The outcome of the Government’s National Health Insurance (NHI) fee negotiations with doctors will likely “narrow the remuneration gap” between the public and private sectors, the Bahamas Insurance Association’s (BIA) chairman is predicting.
Entrepreneur blasts ‘pay to play’ culture
Bahamian entrepreneurs have called for increased anti-corruption measures, saying permit applications “go to the bottom of the pile” unless officials are paid off.
‘Too many barriers’ for our investors
The Bahamas has too many barriers for investors despite thinking “we have the best product in the world”, a well-known developer said.
‘Goal posts continually’ moving on the Bahamas
The Bahamas “cannot operate in isolation from rest of the world” in financial services, a Cabinet Minister warning that it must respond to evolving international regulatory standards if it is to remain competitive.
NHI advisers ‘look at healthcare in vacuum’
The Government’s National Health Insurance (NHI) advisers were yesterday accused of “looking at healthcare in a vacuum”, and failing to account for the numerous economic and social factors that drive high Bahamian medical costs.
Govt ‘reconsiders’ $1m residency bar following push back
A Cabinet Minister yesterday conceded that the Government had been forced to “reconsider” plans to double the permanent residency investment threshold to $1 million, due to the “considerable pushback” by realtors and developers.
Bahamian insurers in NHI ‘buy in’ via public carrier bids
Private Bahamian underwriters are involved in all three bids for the management of the National Health Insurance (NHI) public insurer, the scheme’s advisers suggesting this showed the industry had “bought in” to the scheme.
