Central Bank slashing bank account red tape
The Central Bank is slashing bureaucracy associated with Know Your Customer (KYC) due diligence so that Bahamians can more easily open bank accounts, its governor said yesterday.
‘Unanswered questions’ on new VAT cut pledge
A Chamber of Commerce director yesterday urged the Government not to cut the VAT rate to 10 percent and instead implement a corporate income tax.
Minimum wage first step towards liveable
The Prime Minister yesterday said the proposed minimum wage increase is just a “component” in efforts to develop a proper livable wage for Bahamians.
Bahamian retailer expands eastward
A well-known Bahamian retailer yesterday said it is aiming to complete its eastern New Providence expansion in time for Christmas 2021 and reach a market segment currently underserved.
‘Unhappy campers’ on Atlantis COVID testing
The hotel union’s president yesterday said “there are a lot of unhappy campers on Paradise Island” after Atlantis followed through on plans to make unvaccinated staff pay for weekly COVID tests.
Minister says agriculture and fisheries must become ‘sexy’
A Cabinet minister says The Bahamas has done a poor job in making the agriculture and fisheries industries “sexy” enough to attract sufficient entrepreneurs and local capital investment.
Bahamas ‘must get back to growing financial services’
The Bahamas “must get back to growing financial services”, an accountant argued last night, adding that a strong regulatory regime is “the best defence” to Pandora Papers-style attacks.
No certainty over BPL bond, Shell LNG deal
A Cabinet minister yesterday said no decision has been taken on whether Bahamas Power & Light’s $535m rate reduction bond (RRB) and Shell North America’s LNG plant will proceed.
Small Business refocus on ‘creative industries’
A Cabinet minister yesterday said the newly-elected Davis administration will refocus the Small Business Development Centre (SBDC) on “the creative industries” and “green and blue economy”.
BTC affirms 30,000 homes target for new fibre network
The Bahamas Telecommunications Company (BTC) yesterday confirmed it will connect 30,000 homes to its enhanced fibre-to-the-home network before year-end to meet “overwhelming” demand.
APD container volumes 1,100 below pre-COVID
New Providence’s commercial shipping industry has suffered “no significant” impact from global supply chain disruptions with container volumes up 11 percent for the two months to end-August.
Battling supply chain ‘every minute of day’
Super Value’s principal yesterday said he is battling supply chain disruption “every minute of the day” while reassuring that possible 8-10 percent Christmas price rises will not be “across the board”.
August marks ‘historic’ revenue high for Aliv
Aliv’s top executive yesterday said August was the highest revenue-generating month in the mobile operator’s history as it bids to dominate market share by end-June 2022.
‘High rise’ gambling costs Atlantis staffer
An Atlantis shift engineer’s claim for wrongful dismissal has been rejected after himself and other employees were caught gambling in the electrical room on the Reef’s 20th floor.
Air arrivals now 76% of pre-COVID figures
Air arrivals to The Bahamas in July rebounded to over three-quarters of their pre-COVID levels, the Central Bank revealed yesterday, while the drop-off in vacation rental demand eased in August.
