Auto chief waits 6-8 months for $200k tax refund
The Bahamas Motor Dealers Association’s (BMDA) president yesterday revealed he has been waiting six-eight months for a $200,000 tax refund, while seeing “only red ink” on his company’s financial spreadsheets.
Financial sector ‘shrink’ is Bahamas’ top danger
The Bahamas must reverse the “shrinkage” in its financial services industry to buttress its standing as a “grade A destination”, a prominent accountant has advised.
‘Immature’ finance industry crowding out private sector
The Bahamian financial industry’s “immaturity” has created a situation where businesses and productive economic activities are starved of funding, a newly-released study has revealed.
Stopover visitor levels regressed 30 years in 2013
The Bahamas’ US tourist stopover arrivals slumped to levels last seen in 1984 as recently as 2013, with the increase in cruise passengers “largely insufficient” to compensate for the loss of their higher-yielding counterparts.
PM is urged: ‘Flex muscles’ for Sarkis
The Prime Minister was yesterday said to have performed a “180 degree u-turn” in his relationship with Sarkis Izmirlian, amid calls for him to “flex his muscles” in support of the original developer’s latest Baha Mar proposal.
Domestic savings rate slashed 50%
The Bahamas’ domestic savings have fallen by 50 per cent as a percentage of gross domestic product (GDP), it was revealed last night, leaving its economy increasingly reliant on foreign direct investment (FDI) for growth.
Gov’t pushing MSC, Hutchison on MoU
The Government is pushing for Mediterranean Shipping Company (MSC) and Hutchison Whampoa to sign a Memorandum of Understanding (MoU) this week, which some observers believe deals with the Grand Bahama Port Authority’s (GBPA) acquisition.
Workforce woes: ‘Ill-prepared’ for ageing Bahamas
The Bahamas is “ill-prepared” to support an increasingly aged population because so much of its productive workforce is unemployed, a newly-released report describing this as an “urgent crisis”.
Bahamas facing ‘dark place’ without reform
The Bahamas will find itself “in a dark place” unless it rapidly reinvents how it conducts business, a well-known businessman yesterday urging it to “open up” for greater short-term growth.
Moody’s: Bahamas in ‘low growth trap’
Moody’s believes the Bahamas has been “stuck in a low growth trap” for this entire century, its average per annum GDP expansion of 1.5 per cent under-performing the Caribbean.
Receivers release several top Baha Mar executives
Five more senior Baha Mar executives have been terminated from their posts with the $3.5 billion development, providing further evidence there is no imminent resolution to the project’s plight.
Bay Street losing ‘50% of potential’
Downtown Nassau is losing 50 per cent of its revenue-generating potential because it is a “ghost town” in the evenings, a local Bahamian entrepreneur is arguing.
US pledges to assist Bahamas on energy goals
The US is ready and willing to work with the Government to achieve its renewable energy goals, a senior official arguing that “‘now is the time” to make progress with oil prices so low.
Out Island SMEs: Business Licences 5 years outdated
The Bahamas Chamber of Chamber was “surprised but not shocked” by low compliance levels among Family Island businesses, some of whom had not possessed valid Business Licences for five years.
BEC breaches $100m bond issue conditions
The Bahamas Electricity Corporation (BEC) breached the financial terms of its existing plan $100 million bond issue, forcing it to seek a four-year waiver from investors.
