Central Bank cracks down on exchange control abuse
The Central Bank has moved to crack down on a growing trend where persons and companies deemed resident in The Bahamas are asking that payments be made in foreign currency.
Super Value chief: Clock ticking on VAT ‘solution’
Super Value’s president yesterday voiced optimism that the Government will strike a “mutually beneficial solution” over the food distribution industry’s VAT ‘exempt’ fears but warned that time is running out with the first relevant tax returns due in just six weeks.
Fishermen ‘dreading’ fall-out from Middle East fuel cost spike
Bahamian fishermen were yesterday said to be “dreading” the spike in fuel costs generated by the Middle East conflict with boats returning to shore “filling up their tanks to the brim” in a bid to minimise the impact on expenses and profit margins.
PM: ‘We’ll see how we can intervene’ over gas prices
THE Government has competition legislation on its “drawing board”, the Prime Minister confirmed yesterday, as he pledged that the Government will “see how” it can mitigate the threat from soaring fuel prices.
AML Foods targets April 13 start for fire-destroyed stores rebuild
AML Foods yesterday revealed it will break ground on the replacements for its fire-devastated Solomon’s Old Trail and Cost Right Nassau stores on April 13 as it turns to technology to ease the transition to eliminating VAT on uncooked foods.
GB Chamber: We need ‘next steps’ on Lucayan
The Grand Bahama Chamber of Commerce last night called for “timely and transparent” details on the fate of Concord Wilshire’s proposed Grand Lucayan acquisition given the developer’s failure to meet its own self-imposed deadline to unveil the project’s demolition and construction schedule.
LPIA braces for slight Easter increase to 85,000 travellers
Lynden Pindling International Airport’s (LPIA) operator yesterday disclosed it is expecting a slight increase in Easter weekend traveller volumes to between 80,000-85,000 persons as it prepares to mark its 19th year of operations.
Medical plan partners with Kanoo to boost care access
A Bahamian medical plan has teamed with a local digital payments provider to improve access to healthcare regardless of whether persons have a bank account.
Bahamian dealer launches Chinese electric auto brand
A Bahamian electric vehicle dealer has officially launched the high-end Chinese auto brand, HongQi, in The Bahamas.
Burrows appointed as CBS managing director
Commonwealth Building Supplies (CBS Bahamas) yesterday confirmed that Brent Burrows II has been promoted to the post of managing director with effect from today.
URCA launches consultation on Gov’ts GB Power purchase
Electricity sector regulators yesterday launched a consultation process to obtain public feedback on the Government’s proposed $200m Grand Bahama Power Company acquisition more than three weeks after it was first notified of the deal.
Royal Caribbean opens PI Beach Club to Bahamians
Royal Caribbean’s Paradise Island beach club is now its doors to Bahamians as it unveils discounted access for local residents ahead of the Easter holiday period.
Inspectors to enforce ‘zero VAT’ compliance
Inspectors from the Government’s consumer affairs unit will maintain a strong presence at food retailers, gas stations and pharmacies to today to ensure businesses comply with the Government’s elimination of VAT on uncooked foods which takes effect on April 1.
Iran war may ‘significantly erode’ Bahamian growth
The Central Bank yesterday warned The Bahamas’ 2026 economic growth prospects may “significantly erode” if the Middle East war becomes protracted although it reassured that this nation’s $2.898bn foreign currency reserves “provide a meaningful cushion” for increasingly expensive fuel imports.
New Rosewood Exuma fight over ‘secret permit carve out’
The $200m Rosewood Exuma project’s leading opponent is accusing its rival developer of using environmental approvals, granted for limited land preparation studies, as ”cover” to begin the construction of roads and other major infrastructure on Big Sampson Cay.
