NASSAU, BAHAMAS — Tourism Minister Dionisio D’Aguilar yesterday acknowledged there will be “ebbs and flows” in the hotel sector as it continues to grapple with the impact of the pandemic, suggesting that the industry would see a rebound by year’s end. D’Aguilar, while addressing reporters ahead of a Cabinet meeting yesterday, said: “There are going […]

Bowe: Don’t reward delinquency Financial secretary insists govt has been trying to collect arrears NASSAU, BAHAMAS — A leading accountant cautioned against the possible “moral hazard” of effectively rewarding delinquent taxpayers through real property tax amnesty programs. On Monday, Prime Minister Dr Hubert Minnis announced in Parliament that the government is providing Bahamian property owners […]

NASSAU, BAHAMAS — Tourism Minister Dionisio D’Aguilar said today that despite the impact of the pandemic on global tourism and travel, this nation continues to see strong gains in the very high-end tourism segment. Speaking with reporters ahead of a Cabinet meeting, D’Aguilar said: “In the very high-end niche market, the private aviation and yacht […]

NASSAU, BAHAMAS — The Bahamas saw total foreign arrivals last year drop by just over 75 percent, according to the Central Bank. The regulator, in its Monthly Economic and Financial Developments report, January 2021, noted: “For 2020, total foreign arrivals reduced by 75.2 percent, a reversal from a 9.5 percent expansion in 2019. “Underlying this […]

Only “marginal” economic growth projected for 2021 NASSAU, BAHAMAS — Total private sector arrears rose by just over $12 million in January amid the ongoing adverse impact of the pandemic, according to the Central Bank, with mortgage delinquencies increasing by $4.3 million. The financial services regulator, in its monthly economic and financial developments report for […]

Hospital provides over 150,000 COVID-19 tests over the past 12 months, more than 90,000 of which were rapid antigen tests NASSAU, BAHAMAS — Doctor’s Hospital’s chief financial officer said yesterday the BISX-listed healthcare provider has seen a full recovery of its top line and earnings driven by its “pivot” towards COVID-19 support. Dennis Deveaux told […]

NASSAU, BAHAMAS — The Bahamas must seriously address the country’s debt problem and be restored to a path of sustainable economic growth, Exumas and Ragged Island MP Chester Cooper urged yesterday. Cooper, the Progressive Liberal Party (PLP) deputy leader, while contributing to debate on the mid-year budget report, stated: “First, we need to clearly understand […]

“Increased taxes without first implementing significant public sector reform will only further hamper the country” NASSAU, BAHAMAS — Any comprehensive tax review or reform should not come before significant public sector reform, a governance reformer warned yesterday. Robert Myers, the Organization for Responsible Governance’s (ORG) principal, told Eyewitness News: “ORG agrees that while comprehensive tax […]

NASSAU, BAHAMAS — A special Bahamas Charter Yacht Show was held on February 25 at the Rybovich Superyacht Marina in West Palm Beach, Florida, with Association of Bahamas Marinas (ABM) heads touting the event as a resounding success for The Bahamas. Originally scheduled to take place in Nassau, Bahamas, in February 2021, the show was […]

NASSAU, BAHAMAS — The Bahamas Telecommunications Company Ltd (BTC) yesterday announced the appointment of André Foster as the company’s chief executive officer effective March 1, 2021. Foster is one of the youngest Bahamian CEOs in the company’s history, moving on from his most recent role as head of operations for BTC for the last nine […]

NASSAU, BAHAMAS — The Department of Inland Revenue’s acting controller yesterday acknowledged there were delays in the processing of business licenses, telling Eyewitness News the department should be back on track by March 1. Gaynell Rolle explained the delay had been in large part due to the fact that the department was also tasked with assisting […]

NASSAU, BAHAMAS — The Caribbean Governors of the Inter-American Development Bank (IDB) have backed a $3.5 billion multi-year program to help Caribbean countries sustainably recover while making technological leaps that will bring about a transformational future. The Build Forward initiative includes a multi-donor facility to provide targeted grant and concessional financing for smart and resilient […]

NASSAU, BAHAMAS — The Minnis administration has eliminated nearly 80 percent of the $360 million in arrears it inherited when it assumed office in 2017, according to Prime Minister Dr Hubert Minnis. During his mid-year budget statement for the six months ending December 2020, Minnis noted: “The government continued its commitment to reduce the $360 […]