Tax dodgers ‘dominate’ foreign yacht charters
The Ministry of Finance’s top official yesterday hit back over concerns about VAT’s imposition on foreign yacht charters by arguing the sector was “dominated” by a few large tax-dodging companies that need “to pay their fair share”.
Fears ‘non-peak’ airlift undermined spark clash
The Ministry of Finance’s top official and a senior airline executive yesterday clashed over fears that Customs overtime fees will undermine The Bahamas’ ambitions to attract airlift “outside of peak hours”.
Top finance official says: Tourism can pay more
The Ministry of Finance’s top official yesterday argued the tourism industry can pay “a little bit more in taxes without hampering its viability as vacation rentals came under the microscope once again at a sector gathering.
SBF charges dropped on Bahamas objection
US prosecutors will drop charges of illegal election campaign contributions against embattled FTX co-founder, Sam Bankman-Fried, after The Bahamas objected to their inclusion in his indictment following extradition.
CIBC opens new Eleuthera branch
CIBC FirstCaribbean International Bank (Bahamas) this week opened its new Governor’s Harbour branch in the Charlow’s Bay Plaza.
$30m Milo Butler upgrade will extend to Cowpen Rd.
The Ministry of Works and Utilities yesterday said the $30m upgrade to Sir Milo Butler highway will extend it beyond Carmichael Road through to Cowpen Road.
Bahamas ‘tops’ 5m visitors to end-June
The Ministry of Tourism's top official yesterday disclosed that visitor arrivals breached the five million mark for the 2023 half-year although higher-yielding stopovers and air arrivals remained slightly down on 2019's "banner year".
Revamped British Colonial to be ‘incredible property’
The revamped British Colonial resort will "be an incredible property" that no longer operates under a recognised flag or brand, it was disclosed yesterday.
BPL chief: ‘Under recovery’ behind soaring energy bills
Bahamas Power & Light's (BPL) chief executive yesterday confirmed that soaring energy bills have resulted from previous policy decisions to hold the utility's fuel charge at an artificially-low 10.5 cents per kilowatt hour (KWh).
BPL requires $4m 'tri-fuel' investment
Bahamas Power & Light's (BPL) Wartsila engines require a further $4m investment to make them "tri-fuel ready", its chief executive said yesterday said, adding that they are not presently capable of burning three fuel types.
Atlantis in 25% large boat fall-off post-VAT
Atlantis has suffered a 20-25 percent fall in large vessel volumes since VAT’s imposition on charter fees, its marina dockmaster has revealed, with the decline “definitely hurting the small man” more.
Lobster fishermen face ‘bad situation all around’
Bahamian fishermen were yesterday said to be confronting “a bad situation all around’ with increasing costs and a “low-end” lobster price set to impose a profits squeeze just one week before crawfish season starts.
Melia demolition finish ‘before winter season’
Baha Mar’s owner is seeking to completely demolish the former Melia Nassau Beach Resort before the 2023 winter tourism season starts, it was revealed yesterday, although it has not determined what will replace the hotel.
US: Gov’t ‘stalling’ on anti-corruption fight
The US State Department yesterday accused the Government of “stalling full implementation of anti-corruption legislation that would promote transparency and good governance” such as the Freedom of Information Act.
PM: 'Smell is rotten' on BPL's Wartsila purchase
The Prime Minister yesterday blasted that "the smell is rotten" as he and his predecessor resumed House of Assembly battle over whose administration is responsible for Bahamas Power & Light's (BPL) dire state.
