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.
Cyber security experts: BTC network vulnerable
Bahamas-based cyber security experts yesterday argued that the Bahamas Telecommunications Company's (BTC) outdated network equipment left it vulnerable to penetration by malign actors.
Bahamas is hailed for 'stroke of genius'
The Bahamas was yesterday hailed for "a stroke of genius" in developing Florida-based pre-clearance facilities for a private aviation market that has "almost doubled" in volume during recent months.
Tourism rebound to be 'slower than we want'
A senior tourism executive yesterday warned that The Bahamas' rebound will be "slower than we want it to be" despite Atlantis moving to expand its re-opening with The Cove's February 11 return.
QC pushes to 'settle' Gaming Board dispute
A QC representing 24 former Gaming Board staff yesterday said he "doesn't understand" why it has failed to settle the dispute over their termination as the potential taxpayer liabilities are rising daily.
'Talk is cheap' warning over $1.5bn debt fears
The Government was yesterday warned that "talk is cheap" when it comes to The Bahamas' mounting fiscal and economic woes, as governance reformers demanded: "Let's see some action."
Atlantis confirms Cove's February 11 re-opening
Atlantis yesterday unveiled the next stage in its COVID-19 re-opening plans by confirming the 600-suite The Cove resort will be receiving guests from February 2021.
CIBC suffers major loss amid $94m dividend wait
CIBC FirstCaribbean International Bank (Bahamas) plunged to a $63.543m net loss for the year to end-October 2020 as it awaits permission to pay almost $94m in total dividends to shareholders.
Fisheries body supports conch export ban by '22
A fisheries advocacy body has backed the Government's plan to ban conch exports by 2022 as well as its plan to ban foreign nationals from working on Bahamian-owned fishing vessels.
