Retired justice details procurement shake-up
The Ministry of Finance’s central tender’s board can now grant contracts worth between $250,000 and $1.2m without requiring Cabinet approval, a retired Supreme Court justice has confirmed.
Atlantis owner urged: Obey Bahamas’ laws
A trade union leader yesterday urged Atlantis’ owner to “obey the laws of The Bahamas” relating to COVID-19 testing, and warned the present situation “is setting a bad precedent”.
$160m revenue cut from VAT rate slash
The Government’s planned VAT rate cut will slash revenues by $160m per year, an ex-Cabinet minister asserted yesterday, as he slammed its “silence” on how extra spending will be paid for.
Privy Council hearing could halt Gov’t/developer ‘scuttling’
An outspoken QC was yesterday optimistic that an upcoming Privy Council case may set legal precedent over tactics employed by the Government and developers to “scuttle” court challenges.
$400m airport PPPs under Gov’t ‘review’
Some $400m worth of airport upgrades are under review to determine if the process as designed aligns with the Davis administration’s strategy, a top aviation official said yesterday.
Credit access slumps to under 50% of GDP
Credit to the private sector continued its “long-term decline” during the COVID-19 pandemic to drop below a sum equivalent to 50 percent of GDP, Moody’s has revealed.
IAN FERGUSON: Succession planning is vital to lasting success
Whether you are a small family business or a large corporation, a business owner or a human resources manager, effective retirement and succession planning is vital for your company’s continuing success.
Shell ‘still committed’ to BPL energy deal
Shell North America (NA) yesterday said it remains committed to sealing its energy partnership with Bahamas Power & Light (BPL) despite the deal being placed under review.
Building code ‘way behind the curve’
Construction industry professionals yesterday backed the Government’s plan to upgrade a Bahamas Building Code that is “way behind the curve”.
GB business owners applaud tax breaks
An east Grand Bahama business owner wants a further extension to the Special Economic Recovery Zone’s (SERZ) tax breaks given the huge amount of recovery work still to be completed.
Bahamas to repay $3.65bn debts to creditors by 2026
The Bahamas is due to repay $3.65bn in debt principal by the time the next general election is due in 2026, Moody’s has revealed, leading to calls yesterday for “feverish” government action.
Realtor to ‘catapult forward ten-fold’ in global brand tie-up
A Bahamian realtor yesterday said it expects to be “catapulted ten-fold from where we are today” after becoming the latest industry player to forge an alliance with a global franchise.
‘Scared’ by livable wage uncertainty
A Chamber of Commerce director yesterday questioned how The Bahamas will be able to afford the Government’s planned “livable wage” phase-in and VAT cut, saying: “That scares me.”
‘Talk is cheap, money buy land’ on VAT cut
A well-known businessman yesterday warned “talk is cheap but money buy land” as he questioned whether the Public Treasury can afford a VAT rate cut given the “dismal” fiscal outlook.
Central Bank governor: Bahamas won’t default
The Central Bank’s governor yesterday voiced confidence that The Bahamas “has the policy tools” at its disposal to ensure it avoids any default on its $10.356bn national debt.
