Wilson sets sights on COVID ‘fails’
A Bahamian insurer’s parent is targeting companies struggling to rebound from COVID-19, its chairman has revealed, after its corporate structure provided a $2.33m buffer against Hurricane Dorian claims payouts.
Hitting IMF target like 'defeating Usain Bolt'
The Bahamas needs an “extraordinary economic shot in the arm” to meet the International Monetary Fund’s (IMF) targets, an ex-finance minister said yesterday, as hitting them would be comparable to “beating Usain Bolt”.James Smith, also an ex-Central
Bahamians urged: Abandon foreign investor 'xenophobia'
Bahamians must abandon their “xenophobic and schizophrenic” attitude towards foreign investors if the economy is to survive the devastation inflicted by COVID-19, a prominent doctor warned yesterday.Dr Johnathan Rodgers, pictured, the “eye doctor” an
Revenue unit makes $39m 'fiscal impact'
The Ministry of Finance’s Revenue Compliance and Enforcement Unit (RCEU) has made a $39.2m “fiscal impact” by cracking down on tax leakages over the 2019/2020 fiscal year’s first ten months. K Peter Turnquest, deputy prime minister, in kick-starting
Insurers: 'Long battle' over VAT is resolved
Bahamian general insurers yesterday voiced relief that “a long battle” with the government over the VAT treatment of insurance claims payouts has seemingly come to a resolution. Anton Saunders, RoyalStar Assurance’s managing director, told Tribune B
Hundreds register for COVID-19 certification
More than 500 barbers and beauty professionals have registered to obtain the necessary COVID-19 prevention certification that will allow them to return to work on June 15. Dr Dellarese Taylor, president of the Bahamian Cosmetologists and Barbers Ass
DPM slams opposition 'hypocrisy' over deficit
The deputy prime minister yesterday slammed the opposition’s “hypocrisy” for criticising the projected $1.3bn fiscal deficit for 2020-2021 when it had called for some $2bn worth of borrowing just weeks before.K Peter Turnquest, leading off the Budget
Planning critical for $9m food security investment
Planning and co-ordination will be critical if the government’s $9m food security investment in the 2020-2021 budget is to have any impact, agricultural sector participants have warned.Dr Earl Deveaux, a former minister for agriculture and current da
Govt 'very near' to online solution for cruising permits
The government is “very near” to going live with the portal that will allow visiting boaters and fishermen to pay for key permits online, the deputy prime minister said yesterday.K Peter Turnquest, kicking-off the budget debate in the House of Assemb
Financial provider backs IMF over interest rate cut
A Bahamian financial services provider yesterday joined the International Monetary Fund (IMF) in urging the Central Bank to cut interest rates to stimulate economic growth and investment post-COVID-19. Robert Pantry, Simplified Lending’s founder and
IMF: Bahamas must hit 'average' $500m surplus
The government must run an unheard-of $500m fiscal surplus beginning in the 2024-2025 budget year to hit a key debt reduction target by the end of this decade, the International Monetary Fund (IMF) has revealed. The fund, in a report accompanying it
Govt may replace BPL on bond raise
The government may move Bahamas Power & Light (BPL) aside and secure the nine-figure refinancing the state-owned utility requires itself, a Cabinet minister revealed yesterday.
$30m 'sin tax' rise rejected by govt
The government rejected plans for a $30m hike in so-called “sin taxes” on alcohol and tobacco in the run-up to the 2020-2021 budget, the International Monetary Fund (IMF) has revealed. The fund, in a report accompanying its decision to grant The Bah
IMF signals scope for interest rate cut
The International Monetary Fund (IMF) has nudged the Central Bank towards a more proactive monetary policy stance by saying it has "some room to lower interest rates" amid the COVID-pandemic.
SpaceX success shows the new space race is on
IN 1957 the then Soviet Union launched Sputnik, the world’s first communication satellite, firing the starting shot for the first space race. Over the following decades the USSR and the USA were involved in a competition, with each side trying to out
