Bahamas could gain $140m from 15% minimum taxation
The Bahamas could earn $140m in revenue from the global tax crackdown on major multinationals, a Cabinet minister disclosed yesterday, while suggesting the initiative is the first step towards “one tax rate for all”.
PI project concern over ‘compelling opportunity’
A senior Atlantis executive yesterday warned that concerns over Royal Caribbean’s Paradise Island project could harm downtown Nassau’s revival and “the most compelling real estate opportunity in The Bahamas” if not resolved.
ATLANTIS: DEAL WITH CONCERNS HEAD ON – RCI urged to address environment worries for $100m beach club
A senior Atlantis executive yesterday urged Royal Caribbean to tackle “head on” the concerns raised over its $100m Paradise Island beach club by providing “a more robust” Environmental Impact Assessment (EIA).
HUBERT EDWARDS: Create environment private sector ‘can sink teeth into’
There are two important points in time to reflect on. First, the 2022 Fiscal Strategy Report (FSR) emerged after the half-way point of the current fiscal year.
‘First in a long time’: Minister hails primary budget surplus
A CABINET minister yesterday hailed the mid-year Budget’s $4.9m primary surplus as “the first in a very long time” and a signal that The Bahamas is no longer having to borrow to pay interest on its existing debt.
BISX-listed fund targets storage drive to $100m
A BISX-listed fund is entering New Providence’s warehouse and storage space market to help drive ambitions of more than doubling in scale to some $100m in assets.
‘Last peaceful settlement’s’ fears over 163-unit project
Adelaide residents yesterday voiced fears that a proposed 163-unit multi-family residential project will “destroy the last peaceful settlement we have in New Providence” if approved by government regulators.
Ex-PM: Royal Caribbean’s PI deal ‘watering down’ GB
Dr Hubert Minnis says he will be “watching very closely” to see who gains the contract to ferry Royal Caribbean’s passengers to a Paradise Island project he would have approved only when the cruise line closed in Freeport.
‘Excessive traffic’ behind Saturday’s airline delays
A Bahamian aviation operator yesterday said “excessive traffic volume” was to blame for weekend delays at Lynden Pindling International Airport (LPIA) that resulted in some travellers missing flights or their connections.
Chamber chief queries vacation rental ‘policing’
Abaco’s Chamber of Commerce president has questioned how the Government will “police” the vacation rental industry given that enforcement is “not one of our strong suits”.
RF Conference returns in-person after four years
A BAHAMIAN investment bank will today stage its first in-person Economic Outlook conference for four years following the interruption caused by the COVID-19 pandemic.
Positive but cautious over COVID recovery
Based on reports to-date, The Bahamas’ economic recovery, performance and fiscal consolidation is trending well. While largely driven by the post-COVID recovery, the current administration is to be commended for marshalling the improvement. It appears to be getting a number of things right, especially in the tourism and investment portfolio led by deputy prime minister, Chester Cooper.
Petroleum retailer: Gov’t says ‘they want us to fail’
A gas station operator yesterday suggested a six-month job swap with a Cabinet minister so the latter can gain a full understanding of the industry’s plight, adding: “He’s telling us he wants us to fail.”
Hotels strike ‘glass ceiling’ on 15-20% room shortage
The Bahamas may be unable to fully meet tourism demand for 12-18 months due to a room shortage caused by up to 15-20 percent of available inventory being taken offline, a senior hotelier has revealed.
Bahamas on track, but ‘slow spending faster’
The Bahamas must produce “a faster slowdown on spending” to ensure it hits the revised $575.4m full-year deficit target and other key fiscal goals, a major international financial services group is urging.
