Weekend closure costs retailers 40% of sales
Bahamian retailers are divided between the “desperate need” to generate more sales by opening at the weekend and preventing the spread of COVID-19. Herbert Marshall, general manager of Sell-All Electronics, told Tribune Business : “Opening up on wee
Airport cuts departure area seating by 30%
Seating in post-security departure areas at Lynden Pindling International Airport (LPIA) has been reduced by 30 percent as part of multiple health-related measures to combat COVID-19. The Nassau Airport Development Company (NAD), LPIA’s operator, sa
Inland Revenue urged: Probe $68m 'tax gap'
The government’s financial watchdog has urged the Department of Inland Revenue (DIR) to be more aggressive in probing discrepancies of up to $68m between a company’s VAT and business licence fee turnover. The auditor-general’s report for the 2016-20
PM puts web shops in 'dice roll' dilemma
Two Bahamian web shop operators must now “roll the dice” on whether to proceed with their legal action against the Prime Minister after he re-opened the industry less than 24 hours after its filing.Wayne Munroe QC, the attorney for Paradise Games and
Taxation out even if no recovery by end-2021
The government yesterday ruled out new and/or increased taxes to cure its fiscal woes even if the Bahamian economy has failed to recover from COVID-19 by winter 2021. K Peter Turnquest, deputy prime minister, speaking at a post-budget press conferen
DPM: GB airport will be restored 'to former glory'
The deputy prime minister yesterday pledged that the government is still committed to acquiring Grand Bahama International Airport and “restoring it to its former glory”.K Peter Turnquest, speaking at a post-Budget press conference, said the Minnis a
Shoppers urged: 'Rebuild country from within'
Bahamians were yesterday urged to “rebuild our country from within” and “think twice” about spending money abroad as the prime minister gave the go-ahead for the retail sector’s full re-opening.Egan Kemp, president of Eunison Company, the Shoe Depot
High property transaction costs hit competitiveness
A Bahamas-based contractor yesterday said the construction industry can mount a “110 percent recovery” from COVID-19 as he warned that high real estate transaction costs were making this nation uncompetitive. Costa Berdanis, Tarcon Construction’s pr
Beauty salons hopeful of re-open by end-June
Barbers and beauty salons yesterday voiced optimism that the government may allow them to re-open before end-June even though several operators have already decided to close permanently. Dellarese Taylor, the Bahamian Cosmetologists and Barbers Asso
Financial provider hails budget tax rise rejection
A Bahamian financial provider has praised the government for rejecting new or increased taxes in the 2020-2021 budget, branding its fiscal strategy as “very bold, creative, inclusive and collaborative”. Robert Pantry, pictured , Simplified Lending’s
Challenges remain as retailers re-open
Bahamian retailers yesterday warned that significant challenges remain despite the Prime Minister giving the go-ahead for “non-essential” stores to re-open following the Whit Monday holiday. While relieved that they can resume in-store operations be
Microsoft partners with Bahamian founded non-profit for social impact webinar
A Bahamian-founded non-profit, HAP, is organising a high level impact webinar in conjunction with Microsoft to collaborate and share thoughts on a world disrupted by COVID-19. Eager to further the conversation on surviving and thriving post a pandemi
Colina in $2.3m loss as COVID-19 bites
A BISX-listed life and health insurer yesterday disclosed that ordinary shareholders suffered a $2.3m net loss for the 2020 first quarter as COVID-19’s economic impact started to bite. Colina Holdings Bahamas, the parent company for Colina Insurance
$10bn debt blow-out 'our worst nightmare'
Private sector executives yesterday warned “our worst nightmare has come true” after the government unveiled record deficit spending that will carry the national debt past the $10bn mark by June 2022. K Peter Turnquest, deputy prime minister, told t
Economy's shrink to exceed $1.3bn deficit
The Bahamian economy will this year shrink by a greater amount than the government’s projected $1.3bn deficit for the upcoming 2020-2021 fiscal year, the deputy prime minister revealed yesterday.K Peter Turnquest, unveiling the 2020-2021 budget in th
