'Taxing' to hit $100m Gov't spending cuts
The Ministry of Finance's top official yesterday admitted it will be hard-pressed to achieve the $100m in recurrent spending cuts it is targeting over the next six months, conceding: "It will be very taxing."
Patron winnings tax 'on a game, not Bahamians'
The Ministry of Finance's top official yesterday argued that the imminent web shop patron winnings tax is a levy "on a specific type of game" rather than an attempt to discriminate against Bahamians.
'Payments crisis' not Gov'ts fault
A Caribbean economist yesterday stuck to her forecast that The Bahamas "faces a potential balance of payments crisis" within the next two years but is arguing this will not be the Government's fault.
Loan delinquencies up $92m as tourism arrivals totally dry-up
Mortgage and consumer loan delinquencies soared by $91.8m in two months as tourist arrivals to The Bahamas dropped 98.4 percent year-over-year for October, the Central Bank has revealed.
BPL fuel lock-in to ease extra charge
Bahamas Power & Light's (BPL) chairman yesterday said it has extended fuel cost certainty for all consumers until end-2023 to help ease the extra charge that will be added to their bills in the New Year.
Bahamas avoids 'dire' 26% shrink of its GDP output
The Bahamas has avoided the worst-case scenario of its economy shrinking by 26 percent in 2020 thanks to the global oil price slump and government's policy response, a report has concluded.
‘From strength to strength’ on FATF delisting
THE attorney general has voiced optimism the financial services industry will go “from strength to strength” after The Bahamas’ efforts to shore up its anti-financial crime regime gained global approval.
Oil opponents now seeking 'Xmas miracle'
Environmental activists yesterday admitted they are seeking "a Christmas miracle" as the Bahamas Petroleum Company's (BPC) drilling ship closed in on the location for its first exploratory oil well.
The end of inflation
ActivTrades
Imagine going to a restaurant for dinner, looking at the menu and ordering a 3-course meal. By the time desert is about to be served, the waiter approaches the table, quietly informing you that the cost of the set-menu has gone up since you ordered, and advising you to ask for the bill before prices rise again. Or, consider going to the shops with carrier bags full of bank notes and then bringing the goods home in those same, not as full, bags. These situations may sound like comedy sketches, but they aren’t. In some parts of the world such scenarios have been reported during periods of hyper-inflation.
Don't ignore money laundering 'red flags'
As families throughout the world prepare to celebrate Christmas and spend time with loved ones, remember that criminals are also preparing for the yuletide season. They understand that 2020 has disrupted the traditional controls deployed by financial institutions, designated non-financial businesses and professionals (DNFBPS), retailers, street vendors, hotels and gaming houses.
Alliance to boost tourism linkages with agriculture
Two government ministries have forged a partnership designed to boost economic ties between The Bahamas' tourism and agriculture/marine industries to facilitate the latter's growth.
Arawak Cay chief: One third of vendors closed
Arawak Cay vendors are remaining “patient” as they wait for a COVID-19 vaccine to reduce infection rates and enable their businesses and the wider economy to fully rebound.
FATF over... Now on to the next blacklist
A former attorney general yesterday warned that The Bahamas' removal from a list of countries with identified weaknesses in their anti-financial crime defences "is not an end to the blacklisting cycle".
Web shops urge patron tax delay
Web shops are urging the Government to reconsider the New Year's Day introduction of the long-awaited patron winnings tax due to the "additional burden" it will impose on COVID-hit consumers.
New flare up over Fisheries Bill split
An advocacy group representing the fisheries industry's major wholesalers and processors is still crying foul over the Fisheries Bill 2020, reigniting divisions within the sector.
