Gov’t: Inflation did not drive VAT revenue rise
Record inflation generated less than $10m of the VAT revenue increase in the first six months after the rate cut, the Ministry of Finance asserted last night, with the 2021-2022 deficit slashed by 48.4 percent year-over-year.
No Grand Lucayan sale obstacles ‘on our side’
The Grand Lucayan’s chairman says there are no obstacles or barriers to closing the resort’s $100m sale “from our side” ahead of a key deadline for the negotiations being hit in 48 hours’ time.
Taxpayer SOE subsidies surge despite $50m Bahamasair drop
Government subsidies to loss-making state-owned enterprises (SOEs) surged to $492m during the 2021-2022 fiscal year despite a more than $50m reduction in support for Bahamasair as it returned to the skies.
Road Traffic change ignites political battle
The Government and Opposition yesterday traded blows over assertions that a Cabinet minister’s brother has been replaced as acting Road Traffic controller due to the ongoing controversy over too many taxi plates being issued.
Gladstone businesses fear roadworks impact
Gladstone Road businesses yesterday voiced concern over whether customers will still have sufficient access to their enterprises both during and after the upcoming $29m, two-year road improvement project.
Bank to ‘double’ dividend on pre-Dorian profit return
Commonwealth Bank will this month “double” its quarterly dividend payment, and return more than 27 percent of year-to-date profits back to shareholders, as it forecasts returning to pre-Dorian annual profits of $50m-$60m for 2022.
Court asked to decide Cavalier’s $54k VAT bill
The Supreme Court will be asked to determine if a Cavalier Construction affiliate must pay an outstanding $54,161 VAT bill owed by the insolvent contractor, it has been disclosed.
Politicians urged: ‘Preach the lessons’ of hard work
The Bahamas is suffering from “a shortage” of political leaders who “preach the lessons” of hard work as opposed to offering hand-outs and giveaways, an outspoken businessman is arguing.
Pigs out as Adelaide planning appeal looms
A Bahamian entrepreneur yesterday pledged that swimming pigs will “not be part” of his Adelaide-based tourist attraction as he prepares to battle the authorities’ rejection of a proposed beach bar and grill.
DEREK SMITH: Take data privacy in all its forms seriously
FINANCIAL institutions are facing a growing level of scrutiny from regulators, and this looks set to continue. And, when a financial institution conducts operations in more than one jurisdiction, complying with ever-evolving data privacy regulations can be challenging.
Central Eleuthera water ‘blowout’ woes resolved
THE Water & Sewerage Corporation’s general manager says the “flange blowouts” that disrupted supply to central Eleuthera for between a week to ten days have now been resolved.
Decency and stock markets
ActivTrades
Decency and stock exchanges are two different things. If you did not know that yet, you could see it again this week. The Queen dies and what are the stockbrokers doing in the City of London? Still trading stocks as if nothing happened. At least they could have offered a reasonable discount. A black Friday would have been a sign. But what does the FTSE 100 stock index do? Closes with a comfortable gain of more than 1.5 percent. A thoroughly cheerful trading day.
Cruise spend ‘antibiotics’ set for December launch
The Ministry of Tourism plans to launch the “antibiotics” that will help cure low cruise visitor spend in downtown Nassau by December 1, a top tourism executive disclosed yesterday.
Bimini Bay’s developer overturns $600k award
Bimini Bay’s original developer yesterday overturned an almost-$600,000 damages award against it for negligence relating to the theft of a boat from its marina more than 13 years ago.
Labour chief: Over 1,200 jobs found for Bahamians
The Government’s labour chief yesterday disclosed that more than 1,200 Bahamians have found jobs since it launched ‘Labour on the Blocks 2.0’ in May, with several hundred more recruits sought imminently.
