Family Island companies struggle with price rises
Family Island businesses yesterday said they are struggling to contain prices as they grapple with soaring inflationary pressures impacting the entire world.
AML: 8,000 sign-up for shopper loyalty move
AML Foods says more than 8,000 consumers have already signed up for its latest loyalty initiative that has been launched to help Bahamians combat soaring inflation.
Top aviation body: Delay Customs regime to 2023
The world’s largest aviation association is urging The Bahamas to delay implementing a new border entry and exit regime for private pilots until early 2023 amid fears the process will be “very tedious, cumbersome and unintuitive”.
Fears VAT grab will ‘kill’ marina industry
The Association of Bahamas Marinas (ABM) president yesterday warned that reforms set to more than triple the tax rate imposed on foreign yacht charters will “kill” an industry that last year directly injected $122m into the economy.
Moody’s: Multiple ‘risks’ to Gov’ts fiscal forecast
Moody’s last night warned of multiple “risks” to the Government’s fiscal consolidation projections due to the absence of any tax increases in the just-unveiled Budget, while spending restraint will “weigh on economic growth”
Gas dealers ‘shocked’ at margin rise rule-out
Petroleum dealers yesterday said they were “shocked” after the Government ruled out increasing their per gallon margins despite a Cabinet minister revealing it was working to offer alternative help.
Gov’t to cut foreign debt portion in half
The Government is aiming to slash the portion of its debt held in foreign currency by more than 50 percent, a Cabinet minister said yesterday, as he reaffirmed the key components of its liability management strategy.
‘No disconnect’ despite $200m surplus increase
The Bahamian economy’s “exceptional” post-COVID rebound justifies revisions of more than $200m in key Budget projections, top officials asserted yesterday, despite Opposition fears of a “disconnect” that will undermine fiscal credibility.
$100m SOE subsidy cut goes in opposite direction
The Government has temporarily shelved plans to slash subsidies to state-owned enterprises (SOEs) as it seeks Parliamentary approval to borrow $251.4m for clearing unpaid bills prior to the 2021-2022 fiscal year-end.
‘About time’ high-end tax loopholes closed
Realtors yesterday said it was “about time” that the Government doubled the annual real property tax cap and sought to close “loopholes” that enable high-end condominiums in hotel rental pools to largely avoid tax.
Blacklist ‘factor’ fear on bank Business Licence
A commercial bank chief yesterday questioned whether the Government’s plan to reimpose Business Licence fees on the sector could revive a situation that caused The Bahamas’ 2018 blacklisting by the European Union (EU).
Debt strategy was Budget’s ‘big miss’
A governance reformer yesterday argued that the Budget presentation’s “big miss” was its failure to detail how The Bahamas will tackle its $10.5bn national debt and annual interest costs set to hit a record $589m.
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CG knows the importance of Medevac care
In 2021, Coralisle Group Ltd. (parent company of CG Atlantic Medical & Life) conducted more than 120 medical evacuations of CG Members to overseas hospitals where they received critical, often lifesaving emergency care. CG Atlantic Medical & Life has managed many oversees medical evacuations, including inter-island medical air evacuations.
Hotel union set to break away from umbrella body
The hotel union has served notice that it plans to break away from its umbrella union, the National Congress of Trades Unions of The Bahamas (NCTUB), with “immediate effect”, it was revealed yesterday.
Up to $40k VAT refund for first-time home purchasers
The Prime Minister yesterday unveiled multiple measures designed to boost Bahamian home ownership including an up-to $40,000 refund of VAT paid by first-time buyers on construction services and building materials.
