Gov’t grants $22m in hotel incentives
More than $22 million in investment incentives were granted under the Hotel Encouragement Act over the past 12 months, the Minister of State for Investments has revealed.
DNA chiefs’ firms suffer ‘double digit’ VAT slump
The Democratic National Alliance’s (DNA) leader and party chairman both said yesterday that their businesses had suffered “low double digit” sales decreases post-Value Added Tax’s (VAT) introduction, and warned that a retail shake-out is imminent.
IMF: Bahamas 1.5% growth ‘insufficient’ to cut jobless rate
The International Monetary Fund (IMF) yesterday warned that the Bahamas’ forecast economic growth will be “insufficient to generate a significant reduction” in the 15.7 per cent jobless rate, as it slashed this year’s GDP expansion forecast to 1.8 per cent.
Dealers deny seeking ‘blanket’ wreck ban
Auto dealers yesterday denied seeking a ‘blanket ban’ on wrecked vehicle imports, while urging the Bahamas to avoid becoming an industry “dumping ground”.
Businessman hits Mortgage Relief focus as ‘asinine’
An outspoken businessman yesterday slammed the Government’s continuing Mortgage Relief promises as “the most asinine policy I have ever heard”, arguing that its approach to jump-starting the housing market was all wrong.
Auto repair industry seeks own ‘trade park’
Bahamian auto body repairers have urged the Government to establish a ‘trade park’, where ‘roadside’ or ‘backyard’ operators can rent work space and legitimise their operations.
ART OF GRAPHIX: Skills needed to become master of your domain
When you decide to make the big leap and become a business owner, you are accepting that you have a lot of learning to do. Running a successful business is not a talent that you are born, and requires dedication and concentration.
Bahamas losing $60m health spend annually
The Minister of Health yesterday said Bahamians are spending more than $60 million annually on overseas care that could remain at home.
Bran urges wrecked auto ban ‘reconsider’
The Democratic National Alliance’s (DNA) leader yesterday urged the Government to “reconsider” its ban on wrecked vehicle imports and 10-year auto age limit, warning it would cause job losses and “interrupt the way of life for thousands”.
Over 4,400 Bahamians receive food assistance
More than 4,400 Bahamians are receiving assistance from the Ministry of Social Services via its pre-paid card, with $12.8 million allocated in the 2015-2016 Budget for food assistance.
Nassau/PI resorts enjoy ‘best quarter’ for 7 years
The Nassau/Paradise Island hotel industry has enjoyed its “best quarter performance for seven years” during the first three months of 2015, with occupancies ahead of year-before comparisons through April.
Auto repairers claim dealers ‘wrecking us’
Bahamian auto repairers yesterday blasted new car dealers for successfully lobbying the Government to ban ‘wrecked’ vehicle imports, alleging that this would jeopardise 4,500 jobs and “push the small man out of business”.
New Gov’t debt security targets $200m ‘finish line’
The Government’s new debt security will attempt to cross the $200 million “finish line” next week when the final $55 million tranche comes to market, its placement agent yesterday expressing optimism that it will be “well received”.
URCA accuses Cable of breaching tower bar
Cable Bahamas’ battle with URCA over its communications tower construction has intensified, after the regulator accused the BISX-listed provider of breaching its order to halt their build-out.
Investment weakness may expose Bahamas to ‘bottom feeders’
The Bahamas was yesterday warned to take the US government’s ‘investment climate’ concerns “very seriously”, as they potentially jeopardise this nation’s ability to attract “the best of the best investor class”.
