Regulators exploring regime for blockchain
Bahamian financial regulators are exploring the creation of appropriate regulatory regimes for the emerging blockchain technology and cryptocurrency sectors.Their efforts come as The Bahamas hosts industry leaders, financiers, block signers and miner
Contributory civil service pensions 'good first step'
THE government’s decision to make civil service pensions “contributory” for new hires was yesterday branded “a good step”, although it will do little to address its unfunded multi-billion dollar liabilities.Robert Myers, the Organisation for Responsi
'Blacklist' threat highlights builder self-regulation need
The BAHAMIAN Contractors Association’s (BCA) president yesterday accused the government of effectively assuming the role of the industry’s self-regulatory Board in threatening to “blacklist” companies over incomplete work.Leonard Sands hit out after
Culinary Team readies for Caribbean contest
Dinner guests gathered at Baha Mar to savour offerings by the Bahamas National Culinary Team, who are preparing to compete at the upcoming “Taste of the Caribbean” competition.The Bahamas Hotel and Tourism Association hosted the annual event to build
'We can't trust future govts over fiscal fix'
The government’s fast-paced fiscal fix is being driven by its lack of trust in future administrations to correct multi-million dollar “imbalances”, the deputy prime minister revealed yesterday.KP Turnquest admitted to Tribune Business that the govern
Bahamasair loses Supreme Court 'jurisdiction' challenge
Bahamasair’s challenge to the Supreme Court’s “jurisdiction” to hear employee unfair dismissal cases has been rejected by the Court of Appeal.The national flag carrier’s bid to overturn an award made to Omar Ferguson, a former customer service agent,
Bahamas attracts $767m investment in past year
THE Bahamas has attracted more than $700m in foreign capital investment over the past 12 months, the prime minister said yesterday.Dr Hubert Minnis, during his contribution to the 2018/2019 budget debate, said: “Total foreign capital investment in Th
Eight-month VAT transition is 'best thing for builders'
The Bahamian Contractors Association’s (BCA) president yesterday hailed the eight-month VAT ‘transition’ for existing projects as “the best thing the Government can do for construction”.Leonard Sands told Tribune Business that the Minnis administrati
Breadbasket 'zero rate' delayed until August 1
The VAT “zero rating” of breadbasket food items has been delayed until August 1 to allow merchants time to adjust their systems and pricing, a top official revealed yesterday.Marlon Johnson, the Ministry of Finance’s acting financial secretary, told
Gov't 'can't sustain' $50m rent payment
THE GOVERNMENT “cannot sustain” the $50m it spends annually on renting commercial facilities, the prime minister said yesterday.Dr Hubert Minnis, delivering his contribution to the 2018/2019 budget debate, told Parliament: “We are spending $50m annua
Doctors Hospital in western restructure
Doctors Hospital Health System plans to restructure its outpatient services facility on Blake Road with effect from July 6, renaming it Doctors Hospital West.As part of the restructuring, elective surgeries will resume in the Blake Road operating the
'National interest' demands web shop expansion slows
The Bahamas’ “national interest” demanded that the government “slow down the rate of growth” in web shop gaming through increased taxation, a Cabinet Minister is arguing.Dionisio D’Aguilar, minister of tourism and aviation, told Tribune Business that
Government IT lead in control woes, 25% understaffed
The government unit charged with implementing its $30m digital transformation is 25 percent under-staffed and plagued by “numerous internal control deficiencies”.The Inter-American Development Bank (IDB), in a withering April 20, 2018, report on the
Budget to force price rise for healthy foods
Food stores will likely hike their non-breadbasket food prices due to the impact the new VAT exemptions will have on consumer behaviour, the Chamber of Commerce’s chairman is warning.Michael Maura told Tribune Business that the Budget effectively “in
Auto dealers: budget leaves 'two dominant'
New auto dealers are hoping for a last-minute compromise with the government over budget reforms that could result in just two companies “dominating the market”.Fred Albury, the Bahamas Motor Dealers Association’s (BMDA) president, told Tribune Busin
