Local Business

No new taxes in Budget, says Halkitis

Minister for Economic Affairs Michael Halkitis said there will be no new taxes in the upcoming budget as it would be “counterproductive” to economic recovery.

No sign of cancellations after Sandals tragedy

Deputy Prime Minister Chester Cooper said yesterday that Exuma residents are “calm” after the deaths of three tourists at the Sandals Emerald Bay Resort and there has been “no cancellations” at the resort.

‘We must reform public pensions’

The Bahamas needs to avoid a Greek-style pension collapse and instead move ahead with the reform of the public pensions scheme as soon as possible, says the chief operating officer of CG Atlantic Pensions, Larry Gibson.

Minister rules out margin increase for petroleum dealers

Minister for Economic Affairs Michael Halkitis doubled down yesterday on “no margin increase” for petroleum dealers, arguing that it would go to the consumer and it would be “counterproductive”.

Economy rebounds with 8% growth

The International Monetary Fund says the country’s recovery is “strong” with real GDP growth pegged at eight percent this year.

Reform pensions now - or elderly will be left with nothing

The International Monetary Fund warns that a “significant” share of the elderly would be without pensions if reform to the pension system is not dealt with immediately.

IMF urges Bahamas to stick to 50 percent debt ceiling

The International Monetary Fund has urged The Bahamas to keep to the 50 percent debt ceiling passed in 2018.

Warning as container costs to double

Businesses should brace for a 100 percent increase in container costs for the summer due to the Russia and Ukraine war.

Tourism arrivals rise by a sixth

The Central Bank of The Bahamas said tourist arrivals grew by 17 percent in 2021, but are still a way off 2019 numbers.

Eleuthera businesses: Disney jobs welcome but worry over wages

The Disney Lighthouse project would put Bahamians back in “slavery” if they keep wages low, a South Eleuthera business owner has claimed.

CIBC signs up to global credit bureau

CIBC FirstCaribbean is now a member of the CRIF credit bureau in The Bahamas, a move it says will mean more accurate credit assessment.

Sand Dollar circulation trebles

The Bahamas’s digital currency, the Sand Dollar, nearly trebled in circulation in 2020.

DEREK SMITH: Compliance pitfalls to avoid

REMOTE-first digital communication is expected to continue growing at an astounding rate year. In addition, due to the pandemic, society is increasingly reliant on connected infrastructure and digital services for the day-to-day functioning of its daily operations, which means that using digital services to interact has now become the norm.