$200m tax breaks drive revenue fall
A “sizeable proportion” of the $232.55m in foregone Dorian revenues relates to recovery zone tax breaks, the Ministry of Finance’s top official confirmed yesterday, Marlon Johnson, the acting financial secretary, said the government had taken “a ver
Consumer watchdog's zero regulation 'teeth'
The government’s consumer watchdog lacks enforcement “teeth” because it has zero regulations to support its activities, its chairman adding that planned changes will “bring us into the 21st century”. Philip Beneby, the Consumer Protection Commission
Bahamas races to fill aviation safety gaps
Aviation chiefs yesterday pledged to double The Bahamas’ compliance score after global regulators found it had implemented less than one-third of the required “safety oversight” regime. Captain Charles Beneby, the Bahamas Civil Aviation Authority’s
Aviation concern on 'deviation from optimum safety'
Private aviation operators yesterday warned that “any deviation from optimum safety is a concern” after it was revealed that The Bahamas was just 32 percent compliant with global standards. Anthony K Hamilton, president of the Bahamas Association of
Bahamas takes 'Sabbatical' with Airbnb for visitor boost
The Bahamas’ latest partnership with Airbnb is designed to further boost post-Dorian tourism and encourage locals to develop sustainable cultural and environmental offerings, officials said yesterday.Joy Jibrilu, the Ministry of Tourism’s director-ge
Airbnb hails 'Bahamas Sabbatical' partnership
Airbnb says its partnership with The Bahamas will both promote sustainable tourism and drive increased visitor numbers to this nation. The vacation rental website linked with the Ministry of Tourism to unveil the “Bahamas Sabbatical”, which will off
Furniture store aids plastics end drive
A Bahamian furniture store is backing the government’s single-use plastics ban by offering complementary reusable bags to consumers as long as supplies last. Oasis Furniture sad its bag campaign is part of a broader sustainability effort that it pra
Women entrepreneurs hit by 30% income gap
The US government has teamed with its Bahamian counterpart to launch its Academy for Women Entrepreneurs (AWE) initiative locally in a bid to narrow another element of the gender gap. Stephanie Bowers, the US Embassy’s charge d’affaires, said The Bah
Life insurance claims exceed $300m mark
Life insurance claim payouts are expected to top the $300m mark for 2019, the Bahamas Insurance Association’s (BIA) deputy chairman said yesterday. Sandy Morley, speaking at the opening of Insurance Month, said: “I would just take a minute to highli
Insurance switching to risk-based taxation
Reforms switching the Bahamian insurance industry to risk-based taxation are with the Attorney General’s Office and expected to be in Parliament “shortly”, it was revealed yesterday. Vibert Williams, the Bahamas Insurance Association’s (BIA) deputy
DPM urges more than 25% water bill cut for GB
The Grand Bahama Utility Company yesterday defended its 25 percent water bill discount against calls from the deputy prime minister for the reduction to be greater.The water supplier, in a statement issued to Tribune Business, said Freeport businesse
Search and rescue failings exposed before pilot crash
Deficiencies in The Bahamas’ aviation search and rescue system were exposed by international regulators seven months before the crash involving still-missing pilot, Byron Ferguson.The International Civil Aviation Organisation’s (ICAO) last assessment
Nassau airport targets 1,448-acre expansion
The Lynden Pindling International Airport’s (LPIA) operator has obtained 1,448 acres from the government for future runway expansion after recording its first-ever annual profit at $7.755m.The Nassau Airport Development Company (NAD), in its 2019 ann
BISX's share index doubles growth rate
The Bahamas International Securities Exchange’s (BISX) All-Share Index more than-doubled its growth rate last year compared to 2018, it was confirmed yesterday.The Index, which only measures share price movements among BISX-listed equity stocks and e
GBPA says airport talks still 'ongoing'
The Grand Bahama Port Authority (GBPA) yesterday confirmed that discussions about the Government taking over ownership of the island’s airport remain “ongoing”. Freeport’s quasi-governmental authority, in a statement, said “full details” would be di
