Freeport in $200m boost to Treasury
Freeport contributed close to $200m in taxes and National Insurance Board (NIB) contributions pre-pandemic despite its reputation as a free-trade zone, a report by the KPMG accounting firm has projected.
Spanish Wells ‘dissed’ over cruise call plans
Spanish Wells’ chief councillor yesterday said there is “no turning back” on the community’s opposition to Crystal Cruises, adding that residents felt “dissed” by both the Government and the cruise line.
Bahamas and Marlins team to honour nation’s heritage
Bahamians are being encouraged to attend a Miami Marlins baseball game that will celebrate the country’s heritage this Saturday at loanDepot Park in Miami, Florida.
Storm insurance must cover debris clean-up
An insurance executive yesterday urged Bahamians to factor debris clean-up/removal into their annual coverage after Dorian revealed this could equal ten to 15 percent of their property’s value.
Jet skis ‘hammered’ by COVID closure
Jet ski operators yesterday blasted as “foolishness” the continuing COVID-19 restrictions that prevent their sector from operating amid the tourism industry’s re-opening and rising visitor numbers.
‘Teed off’ over lack of lockdown information
An Andros resort owner yesterday said she was “teed off” because critical information concerning the island’s COVID-19 lockdown is not being shared equally among all businesses.
Freeport: ‘The ball is in the govts court’
A prominent attorney yesterday charged that “the ball is in the government’s court” after it was presented with a “road map” for reviving Freeport and the wider Bahamian economy via “a radically different approach”.
Ex-AG: ‘No cause to panic’ over 15% tax
An ex-attorney general yesterday reassured that The Bahamas has “no cause to panic” over the 15 percent global minimum corporate tax rate agreed by world’s powerful nations at the weekend.
Cruise line’s PI crown land bid ‘not to our benefit’
Environmental activists yesterday challenged the government on whether it is breaching its obligation to use crown land in the Bahamian people’s best interests with the Paradise Island lease to Royal Caribbean.
‘Narrow-minded approach’ to work permits warning
A prominent attorney yesterday warned against a “narrow-minded approach” to issuing work permits, arguing that The Bahamas must be “a little more sophisticated” if it is to revive the economy post-COVID-19.
Freeport’s $10.5bn infrastructure needs far greater support
Freeport’s existing $10.5bn infrastructure cannot be supported by existing commercial activity and revenue streams, a report warned yesterday, calling for the city’s “economic transformation”.
Hotels: Avoid lockdowns via better contact tracing
A Cat Island hotelier yesterday said the government needs to invest more resources in contact tracing so it can avoid having to place islands into weeks’ long COVID-19 lockdowns.
Fishing executive hits out at compressor ban
A commercial fishing executive yesterday said the compressor ban is undermining the sector just when The Bahamas needs its ability to earn foreign exchange the most.
Ice cream start-up in new financing round
A Bahamian sorbet and ice cream brand yesterday said it is seeking outside investment to help finance its production plant after “exhausting” its resources in surviving COVID-19.
Nassau marinas: ‘Relief is coming’
Nassau Cruise Port’s top executive has promised that “relief is coming” for marinas seeking to regain super yacht access, acknowledging that progress “can come with a degree of pain”.
