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Business

 
CHTA urges members to continue support for Paris Agreement
On the heels of the United States announcing it will exit from the Paris Agreement, the Caribbean Hotel and Tourism Association (CHTA) urged regional countries, including The Bahamas, to continue to support the climate change agreement in an effort t...
 
 
American Airlines begins service from North Carolina to Exuma
American Airlines has added yet another new flight to The Bahamas with non-stop service from Charlotte, North Carolina to Georgetown, Exuma. The inaugural flight, which took place on Saturday, June 3, touched down at Georgetown’s airport shortly a...
 
 
Government clampdown
The government outlined its plans yesterday to clampdown on all sources of government expenditure and revenue in an effort to ensure that every department, public agency and even members of Parliament are held accountable for any overspending over th...
 
 
No VAT reduction/elimination on breadbasket items in 2017/2018 budget
Minister of Finance Peter Turnquest yesterday invoked the hippocratic oath pledged by doctors, telling reporters that his primary job is to “do no harm” when it came to laying out the country’s budget, which was devoid of the value-added tax (V...
 
 
Government introducing tax and tariff reductions and eliminations for the nation
The new FNM government has already taken steps to ease the financial burden on citizens and businesses by reducing the rate of business license tax and reducing or eliminating customs duties on certain items. During the 2017/2018 budget presentati...
 
 
Former government spent $10 million on NHI consultancy
Minister of Finance Peter Turnquest revealed yesterday that the former Christie administration spent over $10 million in unprecedented consultancy fees for the phased rollout of National Health Insurance (NHI). Turnquest’s revelation came during t...
 
 
No improvement in debt-to-GDP for two to three years
The government is projecting that the nation’s debt-to-GDP ratio will show no signs of significant improvement until the next two to three years. During the budget communication yesterday, Minister of Finance Peter Turnquest said the former Christ...
 
 
Turnquest: Govt audits likely to show tremendous wastage in spending
The audits ordered by the new government will likely show that there has been “tremendous” wastage of government funds, Minster of Finance Peter Turnquest told members of the press yesterday, following the government’s budget communication in t...
 
 
Aliv to take its advertising digital on buses
Aliv has entered into a three-year relationship with TAHM Management & Marketing Consultants to provide digital advertising along nine bus routes on New Providence. Buses will also be outfitted with WIFI. Chief Aliv Champion Johnny Ingle said th...
 
 
Aquapure voted #1, achieves five star gold accolades for quality
Local water producer, KLG Investments Ltd has received a five star QUDAL (Quality Medal) for its Aquapure brand of bottled water. The prestigious, internationally renowned QUDAL is awarded to products and services in the market that, according to th...
 
 
Former top sales producer at Palm Cay joins Coldwell Banker Lightbourn Realty
Clara Alcime, former top sales producer at the Palm Cay seafront residential enclave in New Providence, has joined the Coldwell Banker Lightbourn Realty sales team in Nassau. Clara has a strong background in real estate sales, rentals and property m...
 
 
Bahamas Waste hosts team from Portable Sanitation Association International
As they say, “cleanliness is next to godliness”. This is particularly true in the profession of waste management and most especially in the business of portable sanitation. With outdoor festivals and events increasing in size and popularity aroun...
 
 
Deficit soars
With only one month left before the current budget period closes, the fiscal deficit experienced a 21.9 percent increase for the first eight months when compared to the same period last year. In its monthly economic report for April released yesterd...
 
 
BOB appoints new chairman and deputy chairman
As Bank of The Bahamas (BOB) faces intense scrutiny and a forensic audit, the new government has appointed a new chairman and deputy chairman to the board of the majority government-owned bank. In his role as the first press secretary for The Bahama...
 
 
Country moves to avoid blacklisting with multilateral approach to OECD
The Free National Movement (FNM) government’s recent move to switch from a bilateral to a multilateral approach for tax reporting, has “significantly reduced” the risk of The Bahamas being blacklisted once again, said Senior Partner at McKinney...
 
 
BTC expects no downsizing in wake of mobile market loss
The Bahamas Telecommunications Company (BTC) indicated that it has no plans to make any changes to its staff complement in the near future, even as it competes with the country’s newest mobile provider, Aliv, for subscribers. As BTC’s market sha...
 
 
WHO and PAHO call for tax on unhealthy products
Leading health agencies are encouraging Caribbean countries, including The Bahamas, to levy taxes on final sale prices for unhealthy products such as tobacco and alcoholic and sweetened beverages in an effort to reduce the economic costs of treating ...
 
 
Labor minister meets with Bahamas Chamber of Commerce executives
Minister of Labour Dion Foulkes met with senior executives of the Bahamas Chamber of Commerce and Employers’ Confederation (BCCEC) at his ministry on Thursday, May 25, 2017. Foulkes, who was joined by the permanent secretary in his ministry, David ...
 
 
BCA: Over-the-Hill plans to boost construction
The construction sector could see a 20 percent boost in activity from the Free National Movement’s (FNM) pledge to create tax-free economic zones for Over-the-Hill communities and offer duty-free concessions related to the construction or refurbish...
 
 
Rolle: Investment Incentives Act repeal welcomed
The anticipated repeal of the Grand Bahama (Port Area) Investment Incentives Act 2016 would help to facilitate the ease of doing businesses in Freeport for present and future licensees of the Grand Bahama Port Authority (GBPA), said GBPA President Ia...
 
 
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