The Big Story

NASSAU, BAHAMAS — The Grand Bahama Utility Company (GBUC ) has proposed a rate change to its utility customers effective May 1, 2023, noting that it had deferred the increase for two years. The company stated that while 40 percent of its customers will see no increase in their bills, the remaining GBUC customers will, on average, see an increase...

NASSAU, BAHAMAS — Inland Revenue officials yesterday warned that the department will exercise all of its powers under the law to recoup millions in outstanding taxes owed to the government. Shunda Strachan, acting controller of the Department of Inland Revenue yesterday noted that the department has garnished wages, seized property and will soon begin exercising its power of sale on...

NASSAU, BAHAMAS — The Department of Inland Revenue’s top official yesterday noted that just under there are just over $190 million in Value-Added Tax (VAT) arrears “on the books”, although she acknowledged the sum is likely significantly higher due to the number of business charging the tax without remitting the revenue to government. "That’s only for those businesses that filed,"...

NASSAU, BAHAMAS — Royal Caribbean’s president and chief executive said yesterday that the cruise line plans to bring an additional 1.5 million visitors to Nassau within the next four years, describing the company’s Paradise Island beach club development as a “win-win.”  Michael Bayley told Eyewitness News that he was “surprised” by the pushback the project was receiving from Atlantis, as...

NASSAU, BAHAMAS — A group of environmentalists are concerned over what they say has been the lack of transparency and littleopportunity for public input over the Royal Caribbean Beach Club project on Paradise Island.  In an open letter signed by former Executive Director of the Bahamas National Trust Eric Carey, Save the Bays Executive Chairman Joseph Darville, reEarth Executive Director...

NASSAU, BAHAMAS — Village Road businesses say they are "pleased and encouraged" that government is formulating a counterproposal to their request for relief to offset losses suffered as a result of the recent Village Road improvement project. Economic Affairs Minister Michael Halkitis revealed last week that an alternative is in the works. Michael Fields, president of Four Walls Squash and...

NASSAU, BAHAMAS —  A leading businessman is urging the government to extend incentives in the Hotel Encouragement Act to Bahamian homeowners for short-term rentals. Mario Carey, chairman and founder of Better Homes and Gardens MCR Bahamas, says that the change would not take a slice out of the hotel industry, but help satisfy the demand for accommodations that cannot be...

NASSAU, BAHAMAS — Disney Cruise Lines (DCL) is getting set to host vendor and supplier fairs for Bahamian entrepreneurs and business owners interested in opportunities at Lighthouse Point in Eleuthera. DCL will host the vendor and supplier fairs on April 21st and 22nd in Rock Sound, Eleuthera, and Nassau, New Providence. The entity will be hiring businesses for a variety...

NASSAU, BAHAMAS — A well-known environmentalist has welcomed the government’s intention to introduce ‘spot fines’ for environmental violations, noting that such a law should have been in place “a long time ago.” Joe Darville of Waterkeepers Bahamas and Save the Bays told Eyewitness News that there should be some level of immediate compensation in such cases. Last week, Attorney General...

NASSAU, BAHAMAS- Government is working on a counter proposal to present to businesses impacted by the Village Road Improvement Project according to Economic Affairs Minister Michael Halkitis. Halkitis made the comments during a press briefing at the Office of the Prime Minister last week. “As you know Village Road business have approached government to bring some relief to  in some...

NASSAU, BAHAMAS- Three men have been killed in separate incidents less than 24 hours apart over the Easter holiday.  Police in the capital are searching for one male suspect, believed to be responsible for a shooting, which has resulted in the death of a 31-year-old man dead on Sunday. Initial reports indicate that shortly after 10 pm, police were alerted...

NASSAU, BAHAMAS — The Bahamas took center stage during this year’s Monaco Oceans Week, where stakeholders and international experts gathered to share analysis of major threats to the world’s marine environments, discuss methods of preserving oceans, and brainstorm exciting new opportunities for building profitable Blue economies in climate threatened jurisdictions.  The annual week of meetings, debates and actions dedicated to...

NASSAU, BAHAMAS — Total exports from The Bahamas saw a nine percent decline in the fourth quarter of last year, while imports increased by 16 percent according to the latest quarterly trade data report. According to The Bahamas National Statistical Institute’s Foreign trade Quarterly Report for Q4 of 2022,  the value of commodities exported (domestic and re-export) from The Bahamas...

NASSAU, BAHAMAS — Atlantis’ president and managing director Audrey Oswell is urging the resorts employees to make their voices heard and take a stand with regard to Royal Caribbean International’s $100 million beach club project on Paradise Island. Reiterating environmental concerns over the development, Oswell in a memo to employees noted that the potential impact of the project on the...

NASSAU, BAHAMAS — The World Bank has revised the country’s real GDP growth forecast for 2023 upward slightly to 4.3 percent, while adjusting its 2024 projection downward by one percent. The World Bank in its Latin America and Caribbean Economic Review is forecasting GDP growth of 4.3 percent for The Bahamas this year, up from its previous 4.1 percent forecast....

NASSAU, BAHAMAS — The Ministry of Finance’s top official said yesterday warned that there will be “consequences” for businesses over tax non-compliance while making the case that government's primary motivation is collecting outstanding taxes. “We are not targeting businesses,” Wilson told reporters yesterday. “Businesses which are non-compliant have consequences for non-compliance. Targeting gives the impression we are picking people. We are...

A unified call for AI adoption, upskilling in key tech areas, and organizational transformation Learning from the past, we can draw parallels to Microsoft's $400 billion misstep, where the tech giant failed to adapt to the growing reliance on touchscreens and subsequently missed out on the opportunity to develop a dominant mobile platform. Instead, Google seized the opportunity by acquiring...

NASSAU, BAHAMAS — The country’s utilities regulator has come under scrutiny from its licensees over what they describe as “significant” increases forecasted in its 2023 budget, with one major communications provider stating that the days of telcos being a “cash cow” are over.  Both Cable Bahamas Limited Group and BTC in their responses to the Utilities Regulation and Competition Authority’s...