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‘Unprecedented’: Hotel staff enjoyed slow season boost ‘unpred
Many hotel staff worked “unprecedented” five-day weeks during the tourism season’s slowest months, a union leader revealed yesterday, as he bids to complete multiple new industrial agreements in early 2023.
Water Corp: $1.2m claim was resort financing ploy
The Water & Sewerage Corporation has defeated a $1.227m damages claim for trespass that it alleges was merely a ploy attempting to force it to finance a planned Andros eco-resort.
Title questions raised over $3m AML deal
CITY Markets pension fund trustees have no legal standing to sell the defunct supermarket chain’s former head office to AML Foods for $3 million, it was alleged yesterday.
‘No cause for celebration’ over S&P breathing room
* Bahamas ‘still has to climb out of hole’ * But Chamber chief ‘fully expects’ 2018 upgrade * Many Bahamians don’t realise reform ‘gravity’
PRIVATE sector executives yesterday said the Bahamas has “no cause for celebration yet” after Standard & Poor’s (S&P) elected not to further downgrade its sovereign creditworthiness.
AG: We’ll deal with ‘major slippage’ in anti-launder regime
THE Attorney General yesterday pledged to address the Bahamas’ “significant slippage” in the battle against financial crime through roll-out of its National Risk framework before year-end.
VAT gives Bahamas unwanted world lead
Bahamian businesses have suffered the largest worldwide increase in the time they are forced to spend on tax compliance as a result of Value-Added Tax’s (VAT) implementation, a World Bank report has found.
Governor to ‘bridge gap’ between banks, web shops
The Central Bank’s governor has reaffirmed his commitment to “bridge the gap” between the commercial banking industry and web shop operators, and help ease his licensees’ compliance concerns.
Governor: Data, privacy regimes may need reform
The Bahamas may have to reform its data and confidentiality regimes to mitigate the threat posed by the loss of correspondent banking relationships to the financial sector and wider economy, the Central Bank’s governor has warned.
800 job applications for new mobile player
Cable Bahamas had received around 800 applications for jobs with the nation's second mobile provider by end-last week, it was revealed yesterday, and is confident the new operator can beat its financial targets.
Ex-minister: Dingman case 'waste of judicial resources'
Trying the $1.1 million damages claim against Jamie Dingman's failed Nassau restaurant empire in New York will be "a waste of judicial resources", a former Cabinet minister is arguing.
Chamber chief says 'space for third mobile operator'
The Bahamas Chamber of Commerce's chief executive believes "there is space for another mobile player", and is urging the Government to issue a third licence come 2019.
Governor: ‘Credible’ growth plan key to satisfying Moody’s
The Central Bank’s governor yesterday said it was “within the Government’s reach” to lay out an economic growth strategy that convinces Moody’s not to further slash the Bahamas’ credit rating.
Green economy gives ‘opportunities galore’
The Government would help create a “far greater” number of “meaningful” Bahamian jobs if it abandoned its current development approach in favour of the ‘green economy’, a well-known QC believes.
Central Bank gives Govt ‘an uppercut’
The Central Bank of the Bahamas yesterday delivered “an uppercut” to the Government’s fiscal projections, urging it to rein in spending amid a $266 million deficit for the first 10 months of the 2015-2016 fiscal year.
Minister to activists: Don’t deny us jobs
A Cabinet Minister yesterday urged environmental activists to be “balanced and responsible” when launching legal actions against legitimate developers, warning that these could deny Bahamians much-needed “economic benefits”.
Air freight operators in Bahamas boycott threat
Florida-based air cargo companies are threatening to boycott the Bahamas over the new Customs fees and fines set to be introduced tomorrow, with this newspaper told: “It’s D-Day time.”
Sarkis loses bid to buy $192m claims
The Supreme Court yesterday ruled it was legally impossible for Sarkis Izmirlian to acquire the rights to Baha Mar’s $192 million damages claim against the project’s contractor.
All Govt’s ‘committed sins’ managing nation
A Cabinet Minister yesterday admitted that successive governments had “committed some sins” in failing to properly manage the Bahamas, as he warned: “The world is leaving us behind.”
MSC warns over Customs change shipment delays
The world’s second largest cargo shipper has warned Bahamian companies that their imports will be delayed “until the next sailing” if manifests are not made for compliance with Bahamas Customs’ new requirements.
$6.6bn debt ‘well beyond’ the need for stabilisation
The Bahamas is “well beyond” the point where it merely needs to “stabilise” its $6.6 billion national debt, a former Chamber chairman said yesterday, as he warned that the economy was showing “no desire for growth”.
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