AG: Minnis tax changes ‘threatened’ IBC sector
The Attorney General yesterday accused the former Minnis administration of endangering The Bahamas’ International Business Company (IBC) sector through ill thought-out changes to tax laws.
ART OF GRAPHIX: Overcoming adversity is the entrepreneur's role
Setbacks in business can provide lessons that generate long-term rewards in the future. We must accept that adversity happens to everyone at some point in life. Overcoming challenges is critical on the path to success, so dealing with them in a healthy manner is really important for entrepreneurs. Always remember that it is possible to bounce back from failure, and get back on track in no time, than to remain mired in misfortune. An entrepreneur is not defined by the number of times he or she fails, but what they learnt from those mistakes.
Bahamas targets ‘perfection’ on anti-financial crime rating
The Bahamas must achieve “perfection” and “40 out of 40” total compliance with anti-financial crime standards given the double standards often employed against it, the Attorney General said yesterday.
‘Intelligent’ planning to slash urban growth cost by $1.6bn
New Providence’s urban development costs could be slashed by $1.6bn over a 30-year period via “intelligent” planning, an Inter-American Development Bank (IDB) report revealed yesterday, as it urged “vexing challenges” be confronted.
DPM’s vacation rental ‘law breaking’ concern
The Government is aiming to roll-out a vacation rental register that could ultimately feature 10,000 properties in time for the May Budget, the deputy prime minister said yesterday, as he voiced concern over “law breaking” by some owners.
Bahamasair raises fares on $100k weekly fuel cost rise
Bahamasair has increased ticket prices on all domestic and international routes with effect from early April after its fuel costs soared by an “extra $100,000 per week”, its managing director revealed yesterday.
Ex-Grand Lucayan director backs aggressive sale push
A former Grand Lucayan director is backing the Government’s decision to set aggressive timeline for the resort’s sale, saying it would “be great” if the deputy prime minister achieves a signed sales agreement by end-April.
$450m to make Nassau a truly sustainable city
Transforming Nassau and wider New Providence into a truly resilient, sustainable island demands a $450m investment spread over a 20-year period, a newly-released Inter-American Development Bank (IDB) report has revealed.
‘Give us the facts’ on North Andros mining
The North Andros Chamber of Commerce’s president yesterday urged that the community “get all the facts” so it can make an informed decision on a multi-million aggregate mining project following a heated weekend Town Meeting.
Bahamas hotel rooms off 2,500 against pre-COVID
The Bahamas’ total resort room inventory has been slashed by 2,500 compared to 2019 levels, a top hotelier said yesterday, arguing that no indicator of industry performance should be viewed in isolation.
‘All-time high’ demand to offset tourism risks
The Bahamas Hotel and Tourism Association’s (BHTA) president yesterday voiced optimism that “all-time high” travel demand will help offset newly-elevated Central Bank concerns about the “downside risks” facing the sector.
External reserves jump on banks’ $84m inflow
The Bahamas’ external reserves grew by almost $55m in February 2022 as commercial banks collectively received a net $84.2m foreign currency inflow from their customers.
Minimum wage increase likely to be $250 ‘or close’
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) labour division head yesterday said the minimum wage increase will likely “match $250” per week or “close to it”.
Family Islands eye Easter boost from COVID test end
Easter holiday is looking “very good” for domestic tourism now that the COVID-19 inter-island testing requirements have been dropped, multiple Family Island hotel operators said yesterday.
BNT chief: $50m to enter carbon credits
A senior Bahamas National Trust (BNT) executive yesterday said this nation must likely invest $50m to enter “what could be the very lucrative international financing mechanism” of carbon credits.
