Renewable boost via $9m grant financing
European Union (EU) grant funding has helped provide the government with a near-$90m financing line in its bid to seize “an a historic opportunity to transform” the energy sector.
The taxing path ahead
In the second of a three-part series, Hubert Edwards explains why income and/or corporate income taxes will inevitably be key in any reform discussion.
Blows traded over 10% VAT rate cut
The Opposition’s deputy leader yesterday blasted that a Cabinet minister “has no idea what he’s talking about” as the two sides continued battle over his proposal to slash the VAT rate to 10 percent.
Women suffering 15% tourism wage disparity
The Ministry of Tourism's director-general yesterday said earnings inequality remains an issue in the sector with women still earning on average 15 percent less than their male counterparts.
Gyms enjoy 60% business rebound
Gym owners yesterday said business is slowly rebounding from last year's multiple COVID-19 lockdowns with one proprietor revealing that activity has reached 60 percent of pre-pandemic levels.
Mario's half-open with key earners still closed
Mario’s Bowling and Entertainment Centre yesterday said it has only been partially allowed to re-open with the Government's COIVID-19 protocols mandating that key revenue areas remain closed.
Fintech broker/dealers expected to 'proliferate'
A Bahamian financial services executive yesterday said he expects a “proliferation” of new locally-owned broker/dealers and investment advisers operating in the fintech (financial technology) space.
Developer targets Marriott land in GB ‘stepping stone’
A major US developer is targeting the purchase of Marriott’s 30-acre Barbary Beach landholding in what could be “a stepping stone” towards much larger efforts to revive Freeport’s economy.
Airport financing divided into $30m bond placements
Investment bankers yesterday said they will raise the $150m funding for Family Island airport upgrades via a series of $20m-$30m bond offerings that will start to be placed by the second quarter’s end.
Bahamas must ‘face the music’ on income tax
A risk-management specialist yesterday warned The Bahamas will soon have to “face the music” and implement a personal and/or corporate income tax in response to internal and external pressures.
Minister: PLP VAT plan will cost $100m
A Cabinet minister last night argued that the PLP’s one-year VAT rate cut will “destabilise the economy” and government finances by costing the Public Treasury $100m in revenue.
PLP's minimum wage hike 'economic suicide'
The Progressive Liberal Party's (PLP) plan to increase the minimum wage by $40 per week was yesterday branded "economic suicide" by the private sector's top labour specialist.
Infrastructure Fund’s public offering plan
Bahamian investors will be given the opportunity to own a portion of the proposed National Infrastructure Fund via an initial public offering (IPO), a Cabinet minister confirmed yesterday.
BOB: ‘Break even excellent’ for 2021
Bank of The Bahamas’ top executive says it will “be excellent” if its closes its 2021 financial year in a “break even” position after incurring $20m in loan loss provisions over the past two years.
‘Blind’ driving attorney loses sanctions fight
A Supreme Court judge has refused to give an attorney “a second bite at the cherry” and appeal sanctions related to his management of a $30m estate on the basis he is “legally blind”.
