The Big Story

NASSAU, BAHAMAS — The Bahamas should engage the International Monetary Fund (IMF) in a debt restructuring exercise, a well-known regional economist suggested yesterday while urging the government not to do what Barbados did and “wait until the wheels fall off.” Caribbean economist Marla Dukharan while speaking at Royal Fidelity’s Economic Outlook Conference yesterday noted that The Bahamas is arguably in...

NASSAU, BAHAMAS —The Bahamas’ lack of improvement on the corruption perception index is “not a good look”, a well-known regional economist said yesterday, warning that this could have negative implications for domestic as well as foreign direct investments.  Marla Dukharan. Marla Dukharan pointed to the country's score while addressing Royal Fidelity’s Economic Outlook yesterday. “This is not a good look,"...

NASSAU, BAHAMAS- On Monday, the government announced that it has agreed to explore alternative solutions to bring relief to petroleum retailers, who have been advocating for an increase in their profit margins on fuel. Prime Minister Davis and senior government officials met with representatives from the Bahamas Petroleum Retailers Association to discuss the challenges faced by the industry and the...

NASSAU, BAHAMAS- Island Luck, in observance of Gambling Awareness Month, donated $30,000 to Sandilands Rehabilitation Centre to support their efforts in promoting patron safety. The contribution is intended to train and assist Sandilands Rehabilitative representatives in their mission to aid individuals who fall victim to gambling addictions. Island Luck plans to initiate further programs to emphasize the importance of customer...

NASSAU, BAHAMAS- On Monday, the government signed a Heads of Agreement (HOA) for a $25 million high-end, low-impact boutique resort on Sampson Cay in the Exuma chain. The project is fully funded and is being developed by Bob Coughlin, CEO of US-based human resources giant Paycor. Coughlin, who retired to the Exumas in 2019, is also the president and founder...

NASSAU, BAHAMAS- The Privy Council has upheld the conviction and sentence of James Miller, who was found guilty in June 2009 of attempted murder, five counts of armed robbery, four counts of possession of a firearm with intent to prevent lawful arrest, causing grievous harm, and possession of a firearm with intent to endanger life. Miller received a life sentence...

NASSAU, BAHAMAS — Intuit Limited, the company which developed and markets the popular Quickbooks accounting software package is the latest international company to announce that it will begin remitting Value-Added Tax (VAT) to The Bahamas government.  The company in a recent notice to Quickbooks subscribers said that based on VAT legislation in the Bahamas it is required to charge VAT on...

NASSAU, BAHAMAS — The insurance industry has not received a formal advisory from the government regarding a reported deferral of the implementation of changes to the treatment of Value-Added Tax (VAT) on health insurance, according to Marcus Bosland chair of the BIA’s health insurance committee. Bosland said: “While the BIA has read with interest the Minister's statements regarding a deferral...

NASSAU, BAHAMAS — Paradise Island is being “hogged up” by commercial and political interests, one local environmentalist has asserted as he raised concerns over the environmental impact of Royal Caribbean International’s recently approved $100 million beach club development.  Save The Bays Chairman Joe Darville said that with the government’s recent announcement of its approval for the project, Paradise Island is once...

NASSAU, BAHAMAS — Bahamas Union of Teachers (BUT) President Belinda Wilson yesterday said that the union is very concerned over the incidents of violence and the overall welfare of teachers and students at the Patrick J Bethel High School following a recent attack on a male student outside the school’s campus.  Wilson said: “I have received the information about the...

NASSAU, BAHAMAS- Abaco police are investigating an altercation that left a male student injured. The incident occurred around 9 am on Thursday. According to Acting District Superintendent Chester Cooper, a young man was walking to school when a bus carrying some students passed by. One of the students on the bus threw a pocket knife out the window, hitting the...

NASSAU, BAHAMAS- Disney Cruise Line has announced that its new island destination at Lighthouse Point in Eleuthera will open for select sailings in the summer of 2024. The company worked closely with local artists and advisors to create an island retreat that celebrates Bahamian culture while providing the quality and service of a Disney vacation. “We at Disney Cruise Line...

NASSAU, BAHAMAS-An individual, suspected to be in his early twenties, was discovered deceased due to gunshot wounds in the vicinity of Anatol Rodgers High School in the early hours of Friday morning. According to Police Chief Superintendent Michael Johnson, who is in charge of the Criminal Investigation Department, gunshots were heard in the vicinity of Faith Avenue South at approximately...

NASSAU, BAHAMAS- Donna Vasyli has been acquitted by a nine-member jury of the murder of her husband, well-known Australian podiatrist Dr. Philip Vasyli, following a retrial. On March 24, 2015, Dr. Vasyli, 59, was found dead, facedown in a pool of blood, inside the guest house kitchen at the couple’s home in Old Fort Bay by their gardener. He had...

NASSAU, BAHAMAS — Atlantis officials have expressed their disappointment with the government's decision to proceed with Royal Caribbean International's (RCI) beach club project, labeling the approval as "premature." In a statement released last evening, Atlantis President Audrey Oswell urged the public to petition the Government to "put on the brakes" and conduct a thorough examination of the project's impact on...

NASSAU, BAHAMAS- Economic Affairs Minister Michael Halkitis sought to dispel concerns that the government plans to impose real property tax on Bahamian owners in the Family Islands, stating that "It will not happen." During his contribution to the mid-year budget debate in the Senate, Halkitis referred to an article in a local newspaper that had highlighted worries about the government's...

NASSAU, BAHAMAS- Economic Affairs Minister Michael Halkitis has stated that the government has no plans to take any action that would result in an immediate increase in fuel prices for motorists. In response to concerns raised by petroleum retailers on New Providence regarding their fixed profit margins on fuel, Halkitis remarked, "We have been in some discussions for some time....