SuperGreen Solutions: Summer school on electricity savings
School is back in session, which means summer will soon be on its way out and fall will follow.
Bahamas urged: ‘Resist’ new global tax pressure
A former Bahamas Financial Services Board (BFSB) chairman yesterday urged the Government to resist “disingenuous” international pressure, after this nation was accused of single-handedly undermining the global “war on tax dodgers”.
Baha Mar payout process ‘opening legal floodgates’
The Democratic National Alliance’s (DNA) leader yesterday warned that the Baha Mar creditor payout process threatens to “open the floodgates” to litigation by foreign claimants, amid warnings that the Bahamas’ investment reputation is again under threat.
BOB: $70m wiped off value in week
Bank of the Bahamas saw almost $70 million wiped off its stock market value last week, as investors searched for the ‘floor’ following the removal of price movement restrictions.
Tax ‘holdout’: FNM deputy leader fears ‘reputation damage’
The Opposition’s deputy leader yesterday expressed alarm at “the potential reputational damage” that may have been inflicted by allegations that the Bahamas is ‘non-cooperative’ in the “global war on tax dodgers”.
Govt slams tax exchange delay claim ‘hearsay’
The Government has dismissed as “hearsay” allegations that public and private sector officials have been suggesting the Bahamas will hold back on automatic tax information exchange, making this nation more attractive to “undeclared” funds.
Baha Mar payouts tied to concessions
Baha Mar’s creditor committee has given “a strong indication” that the Government granted greater-than-normal investment incentives to the Chinese in return for payouts to Bahamians.
Private sector has ‘no legitimate case’ over labour reform
The private sector has “no legitimate case” for opposing the Government’s proposal to criminalise a business’s failure to inform it and the relevant trade union of planned redundancies, the Trades Union Congress’s (TUC) president said yesterday.
Chinese bank ‘not a fairy godmother’
The China Export-Import Bank is not acting as “a fairy godmother” in agreeing to finance payouts to Baha Mar’s Bahamian creditors, current and former Chamber of Commerce executives said yesterday.
Air traffic controllers in tourism ‘black eye’
A senior Bahamian airline executive yesterday warned that the weekend industrial action by air traffic controllers had given the tourism industry “a black eye we cannot afford”.
Central Bank wants reductions in cash based transactions
The Central Bank wants to reduce the traditional Bahamian reliance on cash-based transactions as part of its strategy to combat the threat posed by correspondent bank ‘de-risking’.
Unions warned: Shed ‘old world mentality’
Bahamian trade unions were yesterday urged to shed their “old world mentality”, a former Chamber chairman arguing that their value to worker protection had “diminished” due to stronger labour laws.
Baha Mar and VAT ‘sucked’ $700-$900m from the economy
Baha Mar and Value-Added Tax (VAT) have collectively “sucked” between $700-$900 million out of the Bahamian economy since 2015, a local businessman estimated yesterday, amid expectations that some funds may now be recovered.
Bahamas First in 94% first half profits jump
Bahamas First has unveiled a 94 per cent year-over-year increase in first half profits, although this was driven largely by a $4 million gain in the value of its investment holdings.
Don’t leave Bahamians ‘holding the bag’ again
The Government was yesterday urged by a former Contractors Association president to develop measures that will stop Bahamians “getting left holding the bag over and over again” on troubled foreign direct investment (FDI) projects.
