Carnival port to offer up to 50 retail spots
Carnival Cruise Lines is aiming to make up to 50 retail and marketplace spots available to local tenants at its Grand Bahama port that will ultimately cater to as many as 17,000 persons daily.
Jitney fares can’t ‘rise haphazardly’
Franchise owners yesterday reiterated it is premature for jitney drivers to increase fares by 25 cents amid reports that some have already begun this week to charge passengers $1.50
‘Don’t price ourselves out’ on corporate income tax
Bahamian realtors yesterday said data showing they enjoy near-40 percent gross profit margins is “skewed very far off” as they urged the Government “to be careful we don’t price ourselves out of the market” over corporate income tax.
BPL: $3m to resolve Station A deficiencies
Bahamas Power & Light (BPL) executives yesterday said the building housing New Providence’s baseload generation capacity requires close to $3m in repairs to address deficiencies and prevent it from falling apart.
First BOB dividend in 11 years ‘a miracle’
Bank of The Bahamas’ first dividend payment for 11 years was yesterday hailed as “a miracle” by its long-suffering shareholders after it reported its second consecutive year with profits above $11m.
Bahamas moves on climate change infrastructure threat
The Government has enlisted the Inter-American Development Bank’s (IDB) help to assess the risks that climate change poses to “critical transport and energy infrastructure” and the amount of funding needed to mitigate this threat.
Ex-DPM challenges Gov’t on engineer’s BPL report
An ex-deputy prime minister yesterday challenged the Government “in the interests of transparency and accountability” to disclose an engineer’s report justifying the choice of Station A for Bahamas Power & Light’s (BPL) baseload generation.
Red Lobster gains permit for first Nassau restaurant
The Red Lobster franchise yesterday said it has finally received the required Ministry of Works permits to start constructing its first New Providence restaurant which has increased in cost by 25 percent.
Tour operators enjoy 70% post-COVID visitor revival
Tour and excursion operators yesterday said business volumes have returned to 70 percent of pre-COVID levels amid a strong tourism rebound.
Dealer’s ‘art’ expansion as auto sales jump 60%
A Bahamian dealer yesterday revealed it will imminently launch its Automotive Art subsidiary in the belief operators cannot survive on vehicle sales alone despite an industry-wide 60 percent increase for the 2023 first-half.
September seizures for property tax delinquents
Tax officials say they will begin seizing and selling real estate owned by commercial and foreign real property tax delinquents next month, adding: “We’re dotting all the ‘i’s’ and crossing all the ‘t’s’.”
‘Burden cannot be heavier with corporate income tax’
Corporate income tax must not impose a heavier tax burden on businesses than what already exists, private sector executives are warning, while urging that such proposed reform cannot be viewed in “isolation”.
Chief Justice shows Dorian victims mercy
The Chief Justice has shown mercy to a Freeport couple who lost their home in Hurricane Dorian by not dismissing their battle against a commercial bank and top insurance broker over a Supreme Court order breach.
The impending impact of AI on financial markets
ActivTrades
In a world where technology continues to evolve at an unprecedented pace, recent advances in Artificial Intelligence (AI) are poised to reshape the landscape of financial markets.
RODERICK A SIMMS: Excessive taxation no solution for corruption
Corruption, a persistent issue in many countries, can have far-reaching consequences for economies and governance systems. In the case of The Bahamas, corruption not only erodes public trust but also leads to a cycle where governments resort to taxing citizens more as a solution to reduced productivity and economic activity. However, this flawed approach has its limitations and fails to address the root causes of the problem. In this article, we will delve into why excessive taxation is not the best solution, and explore alternative approaches that can bring about positive change and development.
