Bahamas ‘one foot off the fiscal cliff’
A governance reform campaigner yesterday urged all political parties to be mindful of the Bahamas’ fiscal situation when making pre-election promises, arguing that none were “worth voting for” if they did not promise a Fiscal Responsibility Act.
Central Bank intensifies ‘spending control’ calls
The Central Bank yesterday intensified its call for “sustained controls” on government spending, after the fiscal deficit widened by a further $20 million in January to hit $295.3 million.
Web shop slams GBPA taxation as ‘extortionate’
A web shop chain yesterday blasted its rivals for remaining “impotent” in the battle over who has regulatory responsibility for the industry in Freeport, while also slamming the Grand Bahama Port Authority’s (GBPA) “extortionate taxation” demands.
Tourism ‘weakens’ as LPIA traffic off 6.5%
The Central Bank believes Bahamian tourism industry performance in the 2017 first quarter “weakened” compared to last year, with passenger traffic at Lynden Pindling International Airport (LPIA) down 6.5 per cent.
Bahamas ‘exception’ to region’s tourism growth
The Bahamas has been branded “the notable exception” to the Caribbean’s tourism growth over the past two decades by an IMF paper, which found this nation is not among those most vulnerable to Cuba’s US opening-up.
‘Insulting’ for Baha Mar deal to spark landfill resolution
The FNM’s deputy leader yesterday said it is “insulting and embarrassing” that foreign investors have forced the Bahamas to finally move on resolving the New Providence landfill’s troubles.
Aliv targets 35% share by year-end
Aliv’s top executive said yesterday that the new mobile operator is targeting a 25-35 per cent market share by year-end, when it expectd to complete its network roll-out well ahead of its schedule obligations.
Carnival organisers: Ticket sales strong
Bahamas Junkanoo Carnival organisers yesterday said ticket sales for the Nassau event have been strong, adding that the postponement controversy had boosted awareness of the destination.
Civil society unites to halt legislative ‘panic’
Fourteen Bahamian civil society organisations have joined forces to push for a standard public consultation process over new laws and investment projects, describing this as “a critical piece of the puzzle for good governance”.
Insurer 16-17% ahead of target if no Matthew
A Bahamian general insurer yesterday said it would have beaten 2016 profit forecasts “by 16-17 per cent” had it not been for Hurricane Matthew, which blew gross claims 69.4 per cent higher than its previous record.
Baha Mar Heads show ‘Bahamians paying for deal’
Opposition politicians yesterday argued that Baha Mar’s newly-released Heads of Agreement confirms “the Bahamian people are the ones paying for this deal”, and the $101.5 million creditor payout, via tax breaks granted to the project’s new owner.
Fears over Baha Mar infrastructure costs
Fears were raised last night that the Government’s Heads of Agreement with Baha Mar’s new owner may have exposed taxpayers to a multi-million dollar infrastructure bill, after it waived obligations imposed on the original developer.
Exuma ‘deserted island’, says $100m Fyre Fest lawsuit
The negative Fyre Festival fall-out intensified yesterday as a Hollywood celebrity attorney described Exuma as a “dangerous, deserted island” in a lawsuit seeking $100 million in damages from the organisers.
Minister confirms two landfill bids
Two bids have been submitted for the New Providence landfill’s management and remediation, Tribune Business understands.
Carnival bands suffer ‘dismal’ costume sales
Junkanoo Carnival band owners yesterday said 2017 may be the “toughest year yet’, blaming the postponement debacle and pre-election politics for “dismal” costume sales.
