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Business

 
Christie highlights tax breaks
Prime Minister Perry Christie yesterday outlined a broad program of tax breaks as part of a fiscal plan to “provide relief to consumers and businesses”. In addition to the decision to replace all remaining rates of duty of seven percent with a fi...
 
 
Administration misses deficit target by $9M
Even as the prime minister was claiming to have engineered an 80 percent reduction in the GFS deficit — which is a measure of government expenditure versus government revenue — Prime Minister Perry Christie reported yesterday that his administrat...
 
 
BOB ‘must be recapitalized’ PM says
Prime Minister Perry Christie announced yesterday that Bank of The Bahamas (BOB) will become a bank for the public service, and that the much-needed recapitalization of the bank would come through allowing shareholders to buy additional shares, mos...
 
 
Audit requirement still onerous for SMEs, Sumner says
CEO of Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) Edison Sumner continues to decry the government’s requirement that businesses with turnovers of $100,000 have their books certified by an accountant as part of the business l...
 
 
PM confirms CBL as second mobile licensee
Cable Bahamas Ltd. (CBL) has been confirmed as the winner of the second mobile license, which will be awarded for a 15-year period. Within the next three months, CBL must provide 99 percent mobile coverage in New Providence and 80 percent coverage ...
 
 
PM projects $652M in VAT for 2016/2017
Prime Minister Perry Christie reported on the administration of value added tax (VAT) during his budget address in the House of Assembly yesterday, citing high levels of compliance with the tax and strong administrative performance. In its first ye...
 
 
PM touts BAMSI collaboration
The Bahamas Agriculture and Marine Sciences Institute (BAMSI) will join forces with several international universities to engage in student exchanges and collaboration with facilities on teaching and research assignments, according to Prime Minister ...
 
 
PM projects decline in debt-to-GDP
The Bahamas’ debt-to-GDP ratio is projected to decrease “steadily” over the next two years, according to Prime Minister Perry Christie. He made the assertion during the 2016/2017 budget communication in the House of Assembly yesterday. Howeve...
 
 
CCA ‘contracted’ to complete Baha Mar
China Construction America (CCA) was awarded a contract by China Export Import (CEXIM) Bank to complete Baha Mar weeks ago, Guardian Business sources say. Those same sources say because this is so, it is likely that the Christie Administration...
 
 
Labour leader optimistic about BPL leadership
Bahamas Power and Light (BPL) has called a press conference today (Wednesday) to discuss aspects of its business plan, and one of those aspects — the labour component — is already going smoothly, according to Clinton Minnis, whose time as p...
 
 
Turnquest: ‘sideshows’ will cloud budget address
Shadow Minister of State for Finance Peter Turnquest said he is worried that Prime Minister Perry Christie’s delivery of the budget communication would be clouded by the “sideshows” that have surfaced over the weekend. Turnquest was referring ...
 
 
COB, BAMSI sign MOU
The College of The Bahamas (COB) and the Bahamas Agriculture and Marine Sciences Institution (BAMSI) signed a memorandum of understanding (MOU) yesterday which had been outstanding for almost a year and a half. The MOU was signed in anticipation of B...
 
 
Gradual improvement in tourism sector over 2015
The Central Bank of The Bahamas (CBOB) 2015 Annual Report published on Monday revealed that the tourism sector showed gradual improvements last year which contributed to a decrease in unemployment in certain Family Islands. It is still unclear from t...
 
 
Edwards touts captive insurance focus
Deputy Managing Director of Bank of The Bahamas (BOB) Hubert Edwards said the captive insurance industry is a presently underutilized growth area for The Bahamas’ financial services sector. Edwards told Guardian Business yesterday that The Bahamas...
 
 
How to be freakishly clever and successful
According to today’s review, if you ‘Think Like A Freak’ then you may gain a head start over your Caribbean competitors and improve your Bahamian business success. In their book ‘Think Like A Freak’ by Steven Levitt, a professor of economi...
 
 
Details of reported Baha Mar plan demanded
Reported efforts by the Christie administration to strike a deal with the Export-Import Bank of China (CEXIM) to supposedly have China Construction America (CCA) complete the $3.5 billion Baha Mar megaresort have drawn differing reactions from acro...
 
 
BPL ‘challenged’, ‘not quite ready’ for summer load
As the newly formed Bahamas Power and Light (BPL) stares down the barrel of its first summer, Bahamas Electrical Utility Managerial Union (BEUMU) President Clinton Minnis is contending that the utility is likely not up to the challenge, and might h...
 
 
Minnis: Will government present ‘election-year’ budget?
Free National Movement Leader Dr. Hubert Minnis says the budget presentation scheduled for tomorrow means the Christie administration’s “day of reckoning is soon at hand”, and questioned whether the government would offer “an election-yea...
 
 
Source: CCA deal to finish Baha Mar likely
It appears that the government will more than likely close a deal with China Construction America (CCA) to complete the $3.5 billion Baha Mar megaresort. Despite disagreements about CCA bidding for Baha Mar in the first place, Guardian Business sourc...
 
 
ORG urges more govt involvement in FOIA consultation
Executive Director of the Organization for Responsible Governance (ORG) Matthew Aubry said more public engagement and education from the government’s commission for the Freedom of Information Act (FOIA) is needed before the bill is tabled in the Ho...
 
 
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