Bahamian group meets RBC chief
Royal Bank of Canada’s (RBC) newly-appointed Caribbean head for corporate banking, Darryl White, paid a visit to Sunshine Holdings (SHL) on Wednesday.The company’s chairman, Sir Franklyn Wilson, congratulated Mr White on his new role, while the latte
Loretta: Budget 'slap in face' for the poor
The prime minister’s former FNM leadership nemesis yesterday accused him of delivering “a slap in the face” to the poor Bahamians he purports “to stand for” via the 12 percent VAT hike.Loretta Butler-Turner, pictured, who led the ill-fated “coup” tha
Tax change threat to Out Islands' 'survival'
Family Island realtors are warning that Real Property Tax Act changes will be such “a breaking point” for many second homeowners that it threatens their economies’ very “basis of survival”.James Rees, a broker with Abaco Island Properties (Bahamas),
Tobacco tax increase fear 'premature'
Fears of a further hike in the 220 percent tobacco tax rate were yesterday branded premature, a Cabinet Minister revealing legislative reforms are “not yet ready for prime time”.Dr Duane Sands, minister of health, told Tribune Business that the draft
Insurance covered just 13% of Joaquin damage
Private insurance covered just 13.5 percent of the $105m in damages and losses inflicted by Hurricane Joaquin in the southern Bahamas, a newly-released study has revealed.The report found that just $14m of the devastation inflicted on several Family
Govt to 'accommodate' Back to School retailers
The government yesterday promised to “try and accommodate” Bahamian retailers seeking to access tax breaks for the Back to School season ahead of the August 1 implementation.Marlon Johnson, pictured, the Ministry of Finance’s acting financial secreta
Contractor chief hails govt's capital budget
THE Bahamian Contractors Association’s (BCA) president yesterday said the government’s capital works budget for 2018-2019 was “extremely encouraging” for the construction industry.Leonard Sands, pictured, told Tribune Business: “I have been doing a t
The next Silicon Valley? Bahamas in talks on blockchain
The first 2018 Bahamas Blockchain and Cryptocurrency Conference is underway in Freeport, Grand Bahama. The conference is being held at the Grand Lucayan Convention Centre and is sponsored by ALIV. Following the opening ceremony yesterday morning, ch
Bahamas targets publicity boost from magazine visit
Nearly 50 journalists and guests of US-based AFAR magazine were immersed in Bahamian culture during a recent familiarisation trip to this nation.The Ministry of Tourism and Aviation (BMOTA) said the trip was especially valuable because each of the pu
Work space provider gives start-up boost
A Bahamian shared work space company is aiming to help entrepreneurs and start-ups “get going” by reducing overhead costs, its co-founder saying: “The response has been really good.”William Bastian, co-founder of Incudesk, told Tribune Business that
50 jobs go as web shops shut own after tax hike approved
The Asure Win web shop yesterday blamed the budget’s tax hikes for the closure of 11 sites, and termination of 50 staff, by the end of June amid warnings the sector is not “hyperprofitable”.
Bahamas' disaster costs face 28% cut
The Bahamas will cut its disaster recovery costs by 28 per cent it takes out its $100 million ‘contingent loan’ facility, the Inter-American Development Bank (IDB) is asserting.The IDB, in its proposal for the emergency financing, argued that its fac
Back-to-school fear on duty waiver delay
The government was yesterday urged to boost Back-to-School retailers by moving duty-free exemptions forward one month to a July 1 implementation.Edison Sumner, the Bahamas Chamber of Commerce’s chief executive, told Tribune Business that the date cha
BIA chair: Late revision shows 'untidy' budget process
The Bahamas Insurance Association’s (BIA) chairman yesterday branded the budget process “untidy” following the government’s last-minute reversion to its original VAT “exempt” position.Emmanuel Komolafe told Tribune Business that, following talks with
Govt warned: Don't hike taxes again before 2021
The government was yesterday warned off any further tax hikes before 2021, amid continuing private sector concerns it has allowed too little time to adjust to 12 percent VAT. Edison Sumner, pictured, the Bahamas Chamber of Commerce’s chief executive,
