Chief Justice exposes ‘fronting’ on Bay Street
The Chief Justice has ruled that “illegality was a major part” of a Bay Street retail ‘fronting’ deal involving one of Nassau’s most prominent Greek-Bahamian families.
‘A step back’ over fiscal watchdog independence
Governance reformers yesterday voiced fears that proposed legal reforms are “a step back” for the independence of a key fiscal watchdog and also weaken accountability “enforcement teeth”.
PM doubles down over $6.4m provider licence
The Prime Minister last night doubled down on accusations that a payments provider which has failed to remit $6.4m to the Government was not licensed to collect funds on its behalf.
NIB faces $98m deficit for 2023
The National Insurance Board (NIB) is predicting it will incur a $98m total deficit in 2023, it was revealed yesterday, as a Cabinet minister reiterated warnings that The Bahamas cannot afford to delay critical reforms any longer
January tourists beat 2019 arrivals by 33%
The Deputy Prime Minister yesterday said January 2023’s tourism arrivals were some 210,000 ahead of comparatives from 2019’s “banner year” as The Bahamas bids to “meet or exceed” 20 percent growth targets.
VAT health claims change ‘may’ not happen April 1
The Government “may not” implement the new VAT treatment for medical insurance claims payouts by its April 1 target, it was revealed yesterday, with the decision hinging on a meeting with healthcare stakeholders later this week.
‘Do not hit rock bottom’ on public sector reform
The Bahamas “cannot squeeze out” civil service reform if it wishes to tackle “the vexing problem” of perceived corruption in accessing public services, governance reformers warned yesterday.
Investors in $18m boost as bank beats target 10%
Commonwealth Bank yesterday said it beat 2022 profit targets by 10 percent as it used its record net income to return $18m to shareholders via two extraordinary dividend payments.
Gov’t gives $115m tax relief in fiscal first half
The Government granted almost $115m of Excise tax and Customs duty relief during the first half of the 2022-2023 fiscal year, the mid-year Budget documents have revealed.
The debt ceiling issue
ActivTrades
For years the US national debt limit has been a persistent political issue, pitting Democrats against Republicans. As the latest deadline for the approval of a new limit approaches, with a cut-off date of March 2023, the question is whether the two parties can find common ground and agree to raise the size of the US sovereign debt.
BTC chief in promise on service ‘black hole’
The Bahamas Telecommunications Company’s (BTC) top executive last night pledged to deliver “a best-in-class experience” for all users after complaints that clients were left “in the lurch” by poor customer service.
DEREK SMITH: Good corporate governance critical to sustainable growth
CORPORATE governance incorporates the principles and practices that guide how a company is directed, managed and controlled. It is critical for building long-term value for all stakeholders, including shareholders, employees, customers, suppliers and the broader community.
Construction corruption ‘big elephant in room’
CONSTRUCTION-related corruption has been branded as a “big elephant in the room” with the potential to compromise building safety, a Bahamian Contractors Association (BCA) trustee is warning.
New Bay Street entity to seek 100 recruits
A NEW Bay Street tourist attraction will later this month seek to recruit 100 Bahamians to staff its operations, the Government’s labour director, said yesterday, after this weekend’s job fair produced “a significant number of hirings”.
Morton Salt staff to enjoy up to 25% wage increase
LINE staff at Morton Salt are set to enjoy wage increases of up to 25 percent after their trade union signed an “historic” five-year industrial agreement with the Inagua-based salt harvester.
