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Business

 
Sumner: Chamber addressing tax certificates
CEO of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edison Sumner has sought to address claims that the chamber is not properly addressing issues related to complaints from local businesses about the tax compliance certifica...
 
 
Tourism: We need more marketing dollars
Against the backdrop of what The Central Bank of The Bahamas (CBOB) acknowledges as “weakness in the tourism sector” fueled by “headwinds, due to the tepid growth in several key source markets,” Tourism Director General Joy Jibrilu ackn...
 
 
Govt partners with IDB for airport project
The government recently entered into an agreement with the Inter-American Development Bank (IDB) for the preparation of airports in North Eleuthera, Exuma and Treasure Cay for public-private partnerships, which will assist in capitalizing the infrast...
 
 
Christie welcomes Nassau redesign
Prime Minister Perry Christie yesterday hailed the completion and unveiling of a project design for a redeveloped city of Nassau, the first step in the yet-to-be-developed master plan for Nassau. The design was completed by the Urban Design Lab and ...
 
 
New tourism initiative for Joaquin-affected islands
Deputy Director General of Tourism Ellison “Tommy” Thompson yesterday elaborated on the new tourism marketing campaign designed to aid the hurricane-afflicted Southern Bahamas. The first phase of the initiative cost $300,000, according to the tou...
 
 
Tourism up 2.2% in Q1 2016 
Tourism arrivals to The Bahamas increased by 2.2 percent for the first quarter of 2016. A total of 383,324 visitors came to The Bahamas between January and March of this year. The increase is a little over 8,000 more tourist arrivals in comparison t...
 
 
Ingraham: Web shop gaming will cause ‘untold damage’
Even having all but lost its private international banking business, The Bahamas has not seen the nadir of financial services sector losses, and the jurisdiction needs to find another services-related niche to fill. That was the verdict, delivered wi...
 
 
ILO: Raise retirement age to ease NIB stress
In addition to establishing an explicit contribution rate for each branch of the National Insurance Board (NIB) and immediately increasing the pension branch contribution rate in order to achieve financial sustainability, the International Labour Org...
 
 
Minnis: Let the experts run power grid
Free National Movement (FNM) Leader Dr. Hubert Minnis pounced on what he termed the admission by Deputy Prime Minister Philip Brave Davis that Bahamas Power and Light Company (BPL) is being hobbled by internal government debate on the company’s...
 
 
Harris: Show us the BTC Foundation MOU
Democratic National Alliance (DNA) investments spokesperson Brenda Harris is the latest person to challenge the veracity of the Christie administration’s claim to have regained a two percent shareholding following the sale of the Bahamas Telecommu...
 
 
Tax information exchange portal open until August 26
The Competent Authority of The Ministry of Finance has given notice that the tax information exchange portal is open for registration and submissions from July 19 to August 26 at 5 p.m. Eastern Standard Time, and posted notices on its website co...
 
 
Bahamas-U.S. relations strengthened at 2016 EAA AirVenture in Wisconsin
The partnership between The Bahamas’ government agencies and those of the United States federal government, including the U.S. Customs and Border Protection agency, continues to strengthen, heighten in success and reap mutually rewarding dividends ...
 
 
Ingraham hits at 2% BTC share claim
Former Prime Minister Hubert Ingraham yesterday called into question the deal the Christie administration agreed to with Cable and Wireless Communications (CWC) that has never been made public. Cable and Wireless Communications and Prime Minister Pe...
 
 
No NHI in this term, Ingraham predicts
Former Prime Minister Hubert Ingraham said Prime Minister Perry Christie will have to “come to terms with the reality” in connection with Christie’s cherished National Health Insurance (NHI) scheme. Ingraham said bluntly he did not think th...
 
 
Albury Paul W. & Sons Ltd. announces closure
While consumers clamor for price controls to be increased as costs increase, the downside of price control can be debilitating. In fact, after more than 60 years Albury Paul W. & Sons Ltd. will close its doors on August 17, 2016. The closure will...
 
 
Osborne: NIB rate increase inevitable
Former consultant actuary to the National Insurance Board (NIB) Derek Osborne said that a rate increase for NIB pensions is inevitable. Osborne had previously asserted this point in the NIB’s 9th Actuarial Review, which he prepared. The matter was...
 
 
Eleuthera power failure lasts more than 12 hours
Already incensed Eleuthera residents suffered through a power outage lasting more than 14 hours in some areas in the last two days, with power failing at 8:43 p.m. on Monday and not restored to all customers until after 4 p.m. on Tuesday. The failur...
 
 
NewCo expresses concern about BTC pricing practice
NewCo 2015 Limited (NewCo) has recommended that the Utilities Regulation & Competition Authority (URCA) conduct a formal review of the mobile market before making the changes the regulator has proposed to the retail pricing rules. NewCo has exp...
 
 
Automated vehicle licensing system in test phase
Starting October 1, customers in New Providence could see the launch of an automated system for vehicle licensing. It is part of the $8.3 million modernization project of the Road Traffic Department (RTD). One “perk” of the new system is that pe...
 
 
ILO recommends 10% NIB pension contribution
The 6.2 percent contribution rate for pension benefits is insufficient to sustain pension benefits beyond 2029, and unless the rate is immediately raised, the National Insurance Board pension fund could be empty by then. The ILO recommends the pensio...
 
 
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