CIVIL SERVANTS BLOCK AUDITOR: Officials holding back documents stopping full probe of finances
The Government’s top financial watchdog has renewed complaints that some civil servants are breaking the law by obstructing his office’s efforts to uncover misuse of taxpayer monies.
Ex-PM’s VAT attack ‘ignorant’ of advice
The former prime minister’s attack on VAT’s reapplication to breadbasket foods and medicines was yesterday branded “naive” and “ignorant of the advice” given to his administration.
‘Total devastation’ if VAT was put at 15%
Super Value’s principal yesterday said increasing the VAT rate to 15 percent would have inflicted “total devastation on the economy” with food prices set to rise 10-15 percent in the New Year.
Banks report ‘fourfold’ fraud attempt growth
The Bahamas can stand “shoulder to shoulder” with any country on the strength of its anti-financial crime regime, the Central Bank’s governor said yesterday, as banks reported a “fourfold” rise in fraud attempts.
Central Bank’s ‘inclusion’ aid for politically exposed
The Central Bank is moving to ensure politically exposed persons (PEPs) are “not excluded” from the Bahamian banking system by making scrutiny of them “more client friendly”.
Governor pledges to tackle private sector’s ‘pain spot’
The Central Bank’s governor yesterday pledged to tackle the “pain spot” suffered by many Bahamian companies over the difficulties encountered in opening bank accounts.
Credit union ‘over grading’ migrates to medium risks
Credit unions’ “over-grading” of the financial crime threat posed by customers has gone too far in the opposite direction with the percentage classified as “medium risks” near tripling in 2020.
Fishermen urged to respect Nassau grouper season end
Bahamian fishermen were yesterday urged to respect the Nassau Grouper’s closed season and focus on other species so that fisheries stocks can replenish.
Cyber Monday yet to catch on for local retail
Bahamian electronics retailers yesterday said “Cyber Monday” means little to them, with several instead believing a pre-Christmas clearance event will generate better economic returns.
Security firms struggling to ‘keep up’ with demand
Bahamian security firms yesterday said they “can’t keep up” with demand for their services ahead of the upcoming Christmas season that typically coincides with a spike in crime.
VAT rate hike slashed consumption by $2bn
Consumer spending shrank by $2bn in the year after the Minnis administration hiked the VAT rate to 12 percent, the Auditor General’s Office calculated in a newly-released report.
‘From headwinds to hurricanes’: Minnis denies 15% VAT increase
The former prime minister yesterday “categorically” denied that he planned to “turn headwinds into a hurricane” if re-elected by following the IMF’s recommendation to hike VAT to 15 percent.
Ex-Parks chairman blasts PM’s ‘unfounded’ claims
The Bahamas Public Parks and Beaches Authority’s former executive chairman last night said he “resents” accusations levied against him by the Prime Minister and branded them “unfounded”.
Minnis: Cruise giant’s PI lease is too long
Dr Hubert Minnis yesterday tacitly admitted that the effective 150-year Crown Land lease granted to Royal Caribbean on Paradise Island was too long as he sought to defend the deal.
Ex-PM slams ‘heartless’ VAT breadbasket return
The former prime minister yesterday slammed the Davis administration’s decision to eliminate VAT-free breadbasket food items and medicine as “heartless and disgraceful”.
