Retailers suffer sluggish Xmas
Bahamian retailers yesterday lamented that Christmas sales were “down quite a bit” compared to previous years, with one telling this newspaper: “I don’t think anyone’s sales have gone up this year.”
‘Buying a lawsuit’ fears shut down project’s progress
Frustrated homeowners at Exuma’s Oceania Heights community yesterday said their efforts to move the controversy-plagued project forward have been at “a standstill” for a third year, with the ‘spectre’ of its previous developer continuing to deter new investors.
Bahamas must ‘tolerate’ double digit joblessness
The Bahamas will likely have to “tolerate double digit unemployment numbers” for several years, a former finance minister hinting that Baha Mar’s fate is unlikely to be resolved overnight.
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Concern on ‘selective’ NHI tax treatments
The Bahamas Insurance Association’s (BIA) chairman yesterday said healthcare provided by National Health Insurance (NHI) was set to benefit “selectively and partially” from the removal of the 3 per cent insurance premium tax.
Gov’t urged: Reduce ‘bloated’ civil service
The Grand Bahama Chamber of Commerce’s president has called for a “drastic improvement” in public sector management, and is urging a reduction in the size of the “bloated and inefficient civil service”.
New Delta volumes ‘quite encouraging’
Initial passenger numbers on Delta Airlines’ flights into both North Eleuthera and Marsh Harbour are “quite encouraging”, the Out Island Promotions Board’s executive director said yesterday, adding that this should “bode well for all stakeholders”.
GB Chamber chief fears 2016 rating downgrade
The Grand Bahama Chamber of Commerce’s president yesterday expressed fears that Moody’s will follow its competitor and downgrade this nation’s sovereign credit rating in 2016, given that Baha Mar’s fate will require “a lengthy period” to resolve.
Immigration used ‘to harass’ condo bankruptcy rescuer
The Immigration Department is allegedly being used to “harass” a Canadian citizen who saved a 272-unit Freeport condominium complex from bankruptcy, and helped to near-double property values within a decade.
‘I wish it could be like this all year’
Abaco and North Eleuthera resorts said yesterday they were “booked out” due to a surge in business over the Christmas holiday weekend, with one operator telling this newspaper: “I wish it could be like this all year.”
No ‘Resolve’ for more bad BoB loans - yet
Bahamas Resolve’s chairman yesterday said he has still not been asked to remove more bad loans from Bank of the Bahamas, and has yet to recover any of the distressed assets currently on his books.
Chamber chief urges 20-year minimum tax extension in Freeport
Freeport’s expiring investment incentives should be extended for at least 20 years, a senior private sector executive said yesterday, adding that such a move would be “a win-win for everybody”.
FNM deputy fears Carnival ‘big party but finance failure’
The Free National Movement’s (FNM) deputy leader has warned that next year’s Bahamas Junkanoo Carnival will be another “big party but economic failure”, unless the organising committee gets an “urgent jump start”.
Central Bank: Growth ‘very mild’ for 2016
The Central Bank of the Bahamas agrees with international agencies that the Bahamian economy “will continue to grow at a very mild pace in 2016”.
Web shop blasts regulatory order
Bet Vegas, the only web shop operator to be denied a license, has slammed a Gaming Board order warning Bahamians not to gamble at its premises as “victimisation”.
