Petroleum retailers agree to 'phased in' margin increase
Bahamian petroleum retailers yesterday said they will accept a "phased in" 30 cent per gallon margin increase as they urged the Prime Minister to meet with the sector this week "to put this baby to sleep".
Deficit's 75% cut hinges on $400m revenue surge
The Ministry of Finance's top official yesterday asserted he is "very confident" the Government will increase revenues by $400m year-over-year, and slash its fiscal deficit by 75 percent, in the absence of new and/or increased taxes.
Gov't near-tripling cruise departure tax to $145m
The Government is aiming to near-triple revenues earned from departing cruise passengers to $145m in the 2023-2024 Budget via a series of new and increased fees, it was revealed yesterday.
'Throwing darts': PM pledges 'decisive action' on Freeport
The Prime Minister's decision to put the Grand Bahama Port Authority's (GBPA) owners on notice that he plans to take "decisive action" to halt Freeport's two-decade decline yesterday provoked mixed reactions from residents and politicians.
Bahamas is exploring 'debt for nature' swap
The Government is exploring a "debt-for-nature swap" with the Inter-American Development Bank (IDB) that could result in at portion of its $11.2bn national debt being forgiven, the Prime Minister said yesterday.
VAT filing cut for $5m companies
The Ministry of Finance's top official yesterday voiced optimism it will "not be a big problem" for Bahamian companies with annual turnovers exceeding $5m to file and pay their VAT returns within 14 days.
DEREK SMITH: How social responsibility is affecting financial institutions
In recent years, environmental, social and governance (ESG) factors have become increasingly important for financial institutions. The ESG approach goes beyond traditional financial metrics, instead focusing on sustainability, responsible investment and ethical practices. This article aims to explore two negative, and two positive, aspects of ESG and how it can impact financial institutions.
DEIDRE BASTIAN: Embrace competition rather than fighting it
Competition is inevitable in the business world. It is not a necessary evil but, rather, an important part of the commercial ecosystem. Competition can be an effective tool for growing and improving your business. The presence of competition means that customers have the option to choose either your business or a rival.
Bahamians ‘on notice’ over credit delinquency
A Central Bank official has placed Bahamians "on notice" that they will no longer be able to "conceal" existing loan facilities or debt delinquencies when applying to lenders for new credit.
New healthcare facilities announced by the PM
Prime Minister Philip Davis announced yesterday new healthcare facilities for New Providence and Grand Bahama.
More funds for BAMSI and farmers markets
Prime Minister Philip Davis announced the government will maintain capital expenditure in agriculture.
“What does decisive action mean?”
The Grand Bahama Chamber of Commerce's president yesterday said he wants more information on what the Prime Minister means on “decisive action” on the Grand Bahama Port Authority (GBPA).
Pintard differs with PM on GBPA
The Prime Minister and Leader of the Opposition share very different views on the future of the Grand Bahama Port Authority (GBPA) and how its engagement with the community on Grand Bahama should continue.
Pintard criticises ease of doing business
The Leader of the Opposition said the government has not improved the ease of doing business and said it is “quite the opposite".
Boating industry watches for VAT yacht charter ease
A former Association of Bahamas Marinas (ABM) president says the industry is "eagerly" waiting to see if the VAT on yacht charters is adjusted in today's Budget as he blamed its imposition for a 20 percent gross revenue fall at his business.
