‘Wary’ over deficit rise, $76m spend increase
Bahamians should be “wary” but not alarmed after the Government yesterday revealed a modest $11.4m increase to its forecast 2022-2023 fiscal deficit along with a similar-sized capital spending cut-back.
Depositor protection fund $87m below IMF’s target
THE FUND to protect Bahamian bank depositors had reached just 45.8 percent of the minimum $160.775m target recommended by the International Monetary Fund (IMF) at year-end 2021.
PM hits back over price control critics
THE PRIME Minister yesterday hit back at critics of the Government’s efforts to expand price controls by accusing them of participating in “anti-competitive practices” that hurt Bahamian consumers.
Gov’t’s $286m deficit over 50% at half-way
THE GOVERNMENT yesterday revealed that its $285.7m fiscal deficit at the 2022-2023 half-way point was more than 50 percent of that projected for the full-year despite revenue collections increasing by $111.5m year-over-year.
Arbitration reforms hailed as ‘futuristic’
THE TWO Arbitration Bills tabled yesterday in Parliament were hailed as “futuristic” concepts that open up alternatives to the Supreme Court as a forum for resolving commercial and other disputes.
Bahamas yet to leverage anti-corruption reforms
THE BAHAMAS has not properly leveraged the strength of recent anti-corruption reforms, a governance reformer argued yesterday.
Former FNM candidate facing legal strike-off
A former FNM election candidate, already ruled a bankrupt, now faces being disbarred from the legal profession over a $192,870 Rum Cay land deal that was plagued by claims of fraud and forgery.
Agriculture ‘status quo’ of Gov’t control must change
The Bahamas “needs a system that works for the farmers and its people”, an agriculture entrepreneur argued yesterday, after the Government rejected outsourcing key industry assets due to concerns over who controls them.
Just 10-15% of Bahamian fraud cases prosecuted
A Bahamian fraud investigator yesterday said just 10-15 percent of such cases are subjected to extensive probes and prosecution in this nation due to corporate victims fearing their reputations will be damaged.
PM meet’s ‘way to defuse’ VAT health claims dispute
The Prime Minister’s Business Round Table with senior corporate executives may have created a pathway for “defusing” the row over the VAT treatment of health insurance claims, one attendee said last night.
Trade deficit jumps 10% as imports exceed $1bn
The Bahamas’ trade deficit increased by $82.37m or 10.3 percent year-over-year for the 2022 third quarter as goods imports spiked to over $1bn for the period, it was revealed yesterday.
Abaco farm eyes resort expansion
AN ABACO farm yesterday unveiled ambitions to develop a full-scale resort attraction within the next five months as it seeks to exploit growing worldwide interest in eco-tourism and agro-tourism.
DPM: Bahamas poised for ‘accelerated tourism growth’
THE deputy prime minister yesterday said “all signs indicate The Bahamas is about to enter a period of accelerated growth” in tourism with some $2bn worth of investment projects “in the pipeline”.
Fidelity ready to ‘put money behind’ bad mortgage cure
Fidelity Bank (Bahamas) stands ready to "put money behind" a properly structured investment vehicle that could cure this nation's housing and distressed mortgage woes, its top executive said yesterday.
Ex-top Gaming Board official in $42,000 wrongful dismissal
The Gaming Board's former top official has been awarded $42,404 after the Supreme Court found he was wrongfully dismissed by the regulator.
