B’air, Water Corp eat up $55m in subsidies
Bahamasair and the Water & Sewerage Corporation will collectively consume $55 million in taxpayer subsidies in 2014-2015, the Deputy Prime Minister yesterday revealing that the latter has been allocated a further $15 million for this fiscal year.
BTC fearing $25-$30m roaming revenue loss
The BAHAMAS Telecommunications Company (BTC) is looking at a potential $30 million roaming revenue loss in its upcoming financial year after foreign carriers threatened to block their customers from using their phones in the Bahamas.
DPM says planning application rises show ‘turning economy’
A leading contractor yesterday said it would be three-four months before the sector gained a “true appreciation” for how it would be impacted by signs of an improving economy, amid increases in planning permit applications.
ART OF GRAPHIX: Bridging the technical gap
Have you ever tried explaining technical matters to ‘not-so-technical’ people? Was it a treat? Maybe, but then again, maybe not. Yet it is safe to say that most persons in technical posts are, at some point, faced with the challenge of communicating with persons who know little about technology.
BTC chief projecting 30% mobile share loss
The Bahamas Telecommunications Company’s (BTC) chief executive yesterday said the industry “rule of thumb” is that the second Bahamian mobile operator will seize 30 per cent of its market share.
Gov’t gains $20m in web shop ‘back taxes’
The Government has collected $20 million in back taxes and penalties from web shops since November 2014, and expects to announce licence winners under the new regularised regime by May or June 2015.
Markantonis: Atlantis leaving ‘bitter sweet’
GEORGE Markantonis, Atlantis’s top executive, yesterday confirmed he had tendered his “bitter sweet” resignation from the resort after almost a decade, having accepted a “wonderful opportunity”.
Middle class 25% income cut fears
Middle class Bahamians were yesterday warned to brace for a 25 per cent cut in ‘take home’ income once the Government implements National Health Insurance (NHI), a leading surgeon describing the scheme as “an incredible sink hole”.
Gov‘t ‘in stew’ on BTC downsize
The Bahamas Telecommunications Company’s (BTC) decision to downsize by 150 persons was yesterday said to have put the Government “in a stew” over its earlier claims to have regained majority ownership for the Bahamian people.
Gov’t ‘puts cart before NHI horse’
The Government was yesterday accused of “putting the cart before the horse” on National Health Insurance (NHI) by telling the Bahamian people they would be taxed without knowing the total cost imposed on them.
FINCO’s bad loans increase to $118m
Finance Corporation of the Bahamas (FINCO) saw the value of impaired loans increase by 12.7 per cent year-over-year to $117.591 million in 2014, providing further evidence that this nation’s mortgage crisis appears to be deepening.
Gray urges regional agricultural fund
A Bahamian Cabinet minister yesterday called for the Caribbean to create a region-wide Agricultural Development Fund, otherwise it would remain “a food deficit” area.
Gov’t urged: Let VAT ‘sink in’ before NHI
THE Opposition’s deputy leader said yesterday that the Government should allow the full impact from Value-Added Tax (VAT) to “sink in” before its looks to introduce another levy to fund the proposed National Health Insurance (NHI) scheme.
Fog delays 16 LPIA flights
Air traffic was grounded at the country’s main gateway yesterday morning due to the thick fog which blanketed New Providence, with Nassau Airport Development Company (NAD) officials confirming that 16 flights were held up for up to two hours as a result.
Roberts: ‘Battle lost’ on VAT inclusive prices
Super Value’s owner yesterday conceded that merchants had “lost the battle” over Value-Added Tax (VAT) ‘inclusive’ pricing, with the supermarket chain having printed over one million new price tags to meet the Government’s demands.
