Lucayan sale ‘fantastic’ to counter $1,500 air tickets
Hoteliers yesterday hailed the Prime Minister’s renewed optimism over the Grand Lucayan’s potential sale as “fantastic” given that this is key to lowering $1,500 one-way air fares to the US.
$250m Six Senses developer pledges to ‘go the extra mile’
The developer of Grand Bahama’s $250m Six Senses resort yesterday pledged to “go the extra mile” after receiving a key permit that “opens up the starting line” for construction to begin before year-end.
PM denies Budget forecasts ‘fantasy’
The Prime Minister yesterday denied that the Government’s Budget forecasts are “fantasy” as he asserted that recent monthly fiscal deficits for June were elevated due to paying off outstanding bills.
Gov’t launches voluntary tax compliance initiative
The Ministry of Finance yesterday launched a week-long exercise to assist companies in becoming voluntarily complaint with the taxes and fees owed to various government agencies.
Tourism arrivals up 12.4% despite April stopover fall
Higher spending air visitors declined narrowly in April likely due to the peak Easter holiday weekend falling at end-March, it was revealed yesterday, as total arrivals year-to-date jumped 12.4 percent.
Controversial contracts gain $6.75m financing
The Government will spend a combined $6.75m in the upcoming 2024-2025 fiscal year on two maritime contracts that are central to a whistleblower’s lawsuit and have drawn Opposition scrutiny.
‘So bureaucratic’: Registered agents caught up in VAT evasion crackdown
Bahamian registered agents and offices must starting this year submit annual declarations on all their corporate clients’ real estate deals and holdings as part of a crackdown on VAT evasion.
Port’s ‘serious’ Nassau harbour concern eyes year-end repairs
Nassau’s main commercial shipping port says the “serious” challenge created by deteriorating harbour breakwaters may not be tackled until end-2024 at earliest as the Government ramps up Budget funding.
BTC: Eleuthera sabotage was an ‘extortion’ attempt
The Bahamas Telecommunications Company (BTC) yesterday asserted that its fibre optic cables serving Eleuthera were deliberately cut in a bid to extort money from it over a land dispute.
‘Pressure cooker’ race to meet audit deadlines
Bahamian accountants and many companies were yesterday said to be caught in “a pressure cooker environment” as they race to meet imminent Business Licence and regulatory audit deadlines.
Aviation ‘stability’ threat over exam requirement
PILOTS are voicing fears that “the stability and efficiency” of Bahamian aviation will be “undermined” if regulators press forward with plans to mandate they pass an exam for which many are ill-prepared.
Opposition: $437m revenue increase ‘does not add up’
THE Government’s forecast $437m revenue jump for the upcoming 2024-2025 fiscal year represents an increase eight times’ greater than the pace of economic growth according to Budget numbers.
BPL working to complete ‘key’ repairs to generation this week
BAHAMAS Power and Light (BPL) officials said they are working to complete repairs this week on “several key assets” at its Clifton Pier power station to increase power supply in New Providence after a series of power outages this month.
Sebas shuts Aeropost business
SEBAS Bastian last night said his Aeropost logistics business is closing its Bahamas operations because this is the only one of its 30-plus territories “where we did not experience material growth”.
‘Live up to promises’ on CLICO compensation
THE Government was yesterday urged to “live up to its promises” to fully compensate CLICO victims after zero funds were allocated for this in next year’s Budget and successive fiscal years.
