BusinessJune 2, 2023June 1, 2023 at 4:45 am Natario McKenzie 1

Business

GBPA agrees with PM’s call for “decisive action”, but urges collaboration

NASSAU, BAHAMAS — The Grand Bahama Port Authority (GBPA) said yesterday that it agrees with Prime Minister Philip Davis that “decisive action” is required to continue to achieve the promise of the Hawksbill Creek Agreement, as it outlined a number of issues that need to be addressed.  Prime Minister Philip Davis during his 2023/2024 budget communication […]

NASSAU, BAHAMAS — The Grand Bahama Port Authority (GBPA) said yesterday that it agrees with Prime Minister Philip Davis that “decisive... read more »

June 2, 2023June 1, 2023 at 4:45 am | Natario McKenzie | 1

BusinessJune 2, 2023June 1, 2023 at 4:14 am Natario McKenzie

Business

STAY TUNED: Halkitis says NIB issue will be addressed during budget debate

NASSAU, BAHAMAS — While prime minister Philip Davis made no mention of the National Insurance Board (NIB) during his 2023/2024 budget contribution, he will address the issue when he kicks off the budget debate, Economic Affairs Minister Michael Halkitis assured. NIB’s current state was predicted more than two decades ago by its seventh actuarial review—completed […]

NASSAU, BAHAMAS — While prime minister Philip Davis made no mention of the National Insurance Board (NIB) during his 2023/2024... read more »

June 2, 2023June 1, 2023 at 4:14 am | Natario McKenzie

BusinessJune 1, 2023June 1, 2023 at 9:43 am Natario McKenzie

Business

Local small businesses suffering due to yacht tax

NASSAU, BAHAMAS — Bahamian small businesses servicing the charter yacht industry are hoping government will reconsider last year’s imposition of Value Added Tax, which they say is driving international vessels away from Bahamian marinas and causing harm to their livelihoods.  The charter yacht industry is often seen as an ultra-elite luxury sector that is very […]

NASSAU, BAHAMAS — Bahamian small businesses servicing the charter yacht industry are hoping government will reconsider last year’s imposition of... read more »

June 1, 2023June 1, 2023 at 9:43 am | Natario McKenzie

BusinessJune 1, 2023May 31, 2023 at 4:59 am Natario McKenzie

Business

Government revenue at $2.1 billion for first nine months

Prime Minister touts improvements in the country’s financial health NASSAU, BAHAMAS — Government revenue for the first nine months of fiscal year 2022/2023 amounted to $2.1 billion, representing a 14.5 percent increase compared to the previous year and nearly 74 percent of the budget forecast.  Total expenditure increased by $145.3 million to a total of […]

Prime Minister touts improvements in the country’s financial health NASSAU, BAHAMAS — Government revenue for the first nine months of... read more »

June 1, 2023May 31, 2023 at 4:59 am | Natario McKenzie

BusinessJune 1, 2023May 31, 2023 at 4:19 am Natario McKenzie

Business

Opposition warns businesses of tax pressure as PM pledges improved compliance and enforcement

NASSAU, BAHAMAS — The Official Opposition issued a warning yesterday, cautioning businesses to anticipate continued government pressure in tax collection.  Free National Movement Leader Michael Pintard expressed those concerns following the budget communication, during which Prime Minister Philip Davis pledged no new taxes but emphasized improved tax compliance and enforcement. “The level of pressure they […]

NASSAU, BAHAMAS — The Official Opposition issued a warning yesterday, cautioning businesses to anticipate continued government pressure in tax collection. ... read more »

June 1, 2023May 31, 2023 at 4:19 am | Natario McKenzie

BusinessMay 31, 2023May 30, 2023 at 4:35 am Natario McKenzie

Business

PM set to deliver Budget communication in Parliament today

NASSAU, BAHAMAS — Prime Minister Philip Davis will today deliver the annual Budget Communication to Parliament, which according to a statement from the Office of the Prime Minister outlines a “future-focused agenda” for creating a fairer, safer, and more robust Bahamas.  “This budget serves as a testament to our commitment towards the common good and […]

NASSAU, BAHAMAS — Prime Minister Philip Davis will today deliver the annual Budget Communication to Parliament, which according to a... read more »

May 31, 2023May 30, 2023 at 4:35 am | Natario McKenzie

BusinessMay 31, 2023May 30, 2023 at 4:15 am Natario McKenzie

Business

Auto dealers hopeful of upward trend following ‘epic’ first quarter

NASSAU, BAHAMAS — The Bahamas Motor Dealers Association (BMDA) president said yesterday that the industry was hopeful it would continue its upward trend following an “epic” first quarter, with sights set on the return of the BMDA’s auto show for the first time in four years later this fall.  Ben Albury, The Bahamas Bus and […]

NASSAU, BAHAMAS — The Bahamas Motor Dealers Association (BMDA) president said yesterday that the industry was hopeful it would continue... read more »

May 31, 2023May 30, 2023 at 4:15 am | Natario McKenzie

BusinessMay 31, 2023May 30, 2023 at 4:10 am Natario McKenzie

Business

Short-term rental market surges, one-third increase in total room nights sold

NASSAU, BAHAMAS — The Bahamas’ short-term rental market saw further positive trends during the month of April, with the growth in total room nights sold rising by one-third. The Central Bank in its monthly Economic and Financial Developments Report for April noted that in the short-term vacation rental market, data provided by AirDNA revealed further […]

NASSAU, BAHAMAS — The Bahamas’ short-term rental market saw further positive trends during the month of April, with the growth... read more »

May 31, 2023May 30, 2023 at 4:10 am | Natario McKenzie

BusinessMay 30, 2023May 28, 2023 at 4:15 am Natario McKenzie 1

Business

Central Bank announces technical developments, upgrades for mobile wallet holders

NASSAU, BAHAMAS- The Bank of The Bahamas (BOB) will soon become the latest authorised financial institution (AFI)  to begin providing SandDollar wallet services to customers in a targeted and phased rollout according to the Central Bank, with the regulator also revealing technical developments and upgrades for mobile wallet providers. In a recently released public update […]

NASSAU, BAHAMAS- The Bank of The Bahamas (BOB) will soon become the latest authorised financial institution (AFI)  to begin providing... read more »

May 30, 2023May 28, 2023 at 4:15 am | Natario McKenzie | 1

BusinessMay 30, 2023May 28, 2023 at 4:10 am Natario McKenzie

Business

Royal Caribbean releases first public consultation report

NASSAU, BAHAMAS- Royal Caribbean International (RCI) has published the first public consultation report for its Royal Beach Club Development on  Paradise Island as part of The Bahamas Department of Environmental Planning and Protection (DEPP)  assessment.  The report addresses questions received throughout the public consultation process, during and following the public consultation meeting held in September 2021, […]

NASSAU, BAHAMAS- Royal Caribbean International (RCI) has published the first public consultation report for its Royal Beach Club Development on ... read more »

May 30, 2023May 28, 2023 at 4:10 am | Natario McKenzie

BusinessMay 30, 2023May 28, 2023 at 4:07 am Natario McKenzie

Business

700 Wines and Spirits Marks 7th Year with Nationwide Celebration

Nassau, Bahamas – Whether you’re having a birthday party in Fresh Creek, Andros or hosting a Mother’s Day luncheon in Matthew Town, Inagua, 700 Wines and Spirits has been right around the corner and ready to help you celebrate! The beverage retailer has taken pride in serving The Bahamas with more than 60 store locations […]

Nassau, Bahamas – Whether you’re having a birthday party in Fresh Creek, Andros or hosting a Mother’s Day luncheon in... read more »

May 30, 2023May 28, 2023 at 4:07 am | Natario McKenzie

BusinessMay 26, 2023May 26, 2023 at 4:58 am Jayson Braynen

Business

HG Christie documentary highlights local real estate pioneer

NASSAU, BAHAMAS —s — Last week, the Island House Cinema in New Providence hosted the documentary ‘Vision’ by HG Christie, directed by renowned Bahamian Director Kareem Mortimer. The film, which highlights the pivotal role played by Sir Harold Christie in Bahamian real estate and tourism, premiered to a private audience in November 2022. Despite facing […]

NASSAU, BAHAMAS —s — Last week, the Island House Cinema in New Providence hosted the documentary ‘Vision’ by HG Christie,... read more »

May 26, 2023May 26, 2023 at 4:58 am | Jayson Braynen

BusinessMay 25, 2023May 24, 2023 at 4:36 am Natario McKenzie

Business

Government extends consultation period for Corporate Income Tax Green Paper

NASSAU, BAHAMAS — The government has extended the consultation period for its corporate income tax Green Paper to the end of August Prime Minister Philip Davis announced yesterday, stressing that the document is merely intended to stimulate stakeholder discussion and contains no commitment to any particular policy action.  The Ministry of Finance last week released […]

NASSAU, BAHAMAS — The government has extended the consultation period for its corporate income tax Green Paper to the end... read more »

May 25, 2023May 24, 2023 at 4:36 am | Natario McKenzie

BusinessMay 25, 2023May 24, 2023 at 4:34 am Natario McKenzie

Business

Minnis blasts government’s “tax crusade”

NASSAU, BAHAMAS — Former Prime Minister Dr Hubert Minnis yesterday accused the Davis administration of being “hostile to business,” arguing that the current administration is on a “tax crusade” which is harming businesses across the country. During a contribution in Parliament yesterday, Minnis stated: “It has become more and more difficult to do business and […]

NASSAU, BAHAMAS — Former Prime Minister Dr Hubert Minnis yesterday accused the Davis administration of being “hostile to business,” arguing... read more »

May 25, 2023May 24, 2023 at 4:34 am | Natario McKenzie

BusinessMay 25, 2023May 24, 2023 at 4:33 am Natario McKenzie

Business

PM tables Consumer Protection Bill 2023

NASSAU, BAHAMAS — Prime Minister Philip Davis yesterday tabled the Consumer Protection Bill 2023 in Parliament, noting that the legislation includes stringent provisions against misleading and deceptive conduct, harassment, and coercion. During a communication in Parliament, Prime Minister Davis noted that the Consumer Protection Bill 2023 is designed to enhance the rights of consumers across […]

NASSAU, BAHAMAS — Prime Minister Philip Davis yesterday tabled the Consumer Protection Bill 2023 in Parliament, noting that the legislation... read more »

May 25, 2023May 24, 2023 at 4:33 am | Natario McKenzie

BusinessMay 25, 2023May 24, 2023 at 4:30 am Natario McKenzie

Business

URCA to examine BPL ‘status quo’

NASSAU, BAHAMAS — The Utilities Regulation and Competition Authority (URCA) yesterday revealed that it is seeking to undertake an audit of Bahamas Power & Light (BPL), which would independently evaluate the company’s performance status and establish a baseline for its performance going forward.  The utilities regulator also issued a request for proposal (RFP) for an […]

NASSAU, BAHAMAS — The Utilities Regulation and Competition Authority (URCA) yesterday revealed that it is seeking to undertake an audit... read more »

May 25, 2023May 24, 2023 at 4:30 am | Natario McKenzie

BusinessMay 25, 2023May 24, 2023 at 4:05 am Natario McKenzie

Business

New Cost Right, Solomon’s on the horizon as AML Foods purchases Solomon’s Super Center building for $10.5 million

NASSAU, BAHAMAS — AML Foods Limited has announced that it has purchased the building space for $10.5 million, including closing costs.  The space previously leased to house Solomon’s Super Center located on the East-West Highway and Old Trail Road. According to the company, the purchase was financed through RBC Royal Bank (Bahamas) Limited. The company […]

NASSAU, BAHAMAS — AML Foods Limited has announced that it has purchased the building space for $10.5 million, including closing... read more »

May 25, 2023May 24, 2023 at 4:05 am | Natario McKenzie

BusinessMay 24, 2023May 23, 2023 at 4:40 am Natario McKenzie

Business

BCCEC calls for comprehensive tax reform amid corporate income tax consultations

NASSAU, BAHAMAS — The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) said yesterday that while the government’s Green Paper on corporate income tax is a step towards equitable taxation in the country, comprehensive tax reform must accompany its implementation.  Khrystle Rutherford- Ferguson, chair of the BCCEC noted in a statement yesterday that the private […]

NASSAU, BAHAMAS — The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) said yesterday that while the government’s Green Paper... read more »

May 24, 2023May 23, 2023 at 4:40 am | Natario McKenzie

BusinessMay 24, 2023May 23, 2023 at 4:37 am Natario McKenzie

Business

Royal Caribbean to open first Bahamas-based office in downtown Nassau

New location will support the Royal Beach Club and Bahamian recruitment NASSAU, BAHAMAS — Building on more than 50 years of partnership that has welcomed more than 35 million vacationers to The Bahamas, Royal Caribbean International has doubled down on its commitment to the island nation with the announcement of plans to open its first Bahamas-based […]

New location will support the Royal Beach Club and Bahamian recruitment NASSAU, BAHAMAS — Building on more than 50 years... read more »

May 24, 2023May 23, 2023 at 4:37 am | Natario McKenzie

BusinessMay 23, 2023May 22, 2023 at 4:25 am Natario McKenzie

Business

Consumer price index sees four percent year-over-year increase in March

NASSAU, BAHAMAS — The Consumer Price Index (CPI) for the month of March saw a four percent increase when compared to the same period in 2022 according to data related by The Bahamas National Statistical Institute. According to The Bahamas National Statistical Institute, the monthly inflation rate in the Bahamas, which represents the overall change in […]

NASSAU, BAHAMAS — The Consumer Price Index (CPI) for the month of March saw a four percent increase when compared... read more »

May 23, 2023May 22, 2023 at 4:25 am | Natario McKenzie