November 24, 2023
China trials visa-free travel for six countries
China is trialing visa-free travel for citizens from France, Germany, Italy, the Netherlands, Spain, and Malaysia for a year, its foreign ministry said. From December 30 November 2024, ordinary passport holders from these countries can do business…
November 18, 2023
AI boss Sam Altman ousted after board loses confidence
Sam Altman has been ousted as the head of artificial intelligence firm OpenAI by the company's board, which said it had lost confidence in his ability to lead the company. The board said Mr. Altman had not been "consistently candid with his…
November 16, 2023
Remittances to Latin America and the Caribbean set new record
The Inter-American Development Bank (IDB) Thursday said that remittances received by Latin American and Caribbean (LAC) countries are projected to reach a record US$155 billion in 2023. The Washington-based financial institution in a new report said…
November 13, 2023
Caribbean countries sign agreement to implement crypto-asset reporting framework
Three Caribbean countries have joined a number of international nations in backing an initiative developed by the Organisation for Economic Co-operation and Development (OECD) to ensure the recent gains in global tax transparency will not be…
November 7, 2023
Italy to seize $835m from Airbnb in tax evasion inquiry
An Italian judge has ordered the seizure of €779.5m ($835.5m; £676.8m) from short-term rental giant Airbnb, over alleged tax evasion. Prosecutors say the firm failed to collect a tax from landlords on around €3.7bn of rental income. Landlords in…
November 1, 2023
Central bank predicts continued economic growth for The Bahamas
Governor of the Central Bank of the Bahamas (CBB), John Rolle, says the local economy is projected to experience continued growth in 2023, although more moderated. “By 2024, activity could settle closer in line with the economy’s medium-term growth…
October 30, 2023
Shein buys Misguided brand from Mike Ashley firm
Chinese clothing giant Shein is buying the Missguided brand name from Frasers Group a little more than a year after the British firm rescued the business. Frasers announced that it was selling Missguided's intellectual property and trademarks to…
October 26, 2023
Bahamas Opposition Leader to call for a select parliamentary committee to investigate crypto exchange company FTX
Opposition Leader Michael Pintard says the opposition will call for a select parliamentary committee into the collapsed crypto exchange company FTX that is reported to have lost more than eight billion US dollars of its customers’ money. FTX…
October 23, 2023
Billionaires should face a minimum tax rate
Billionaires should face a minimum tax rate, according to a report that found some of the world's mega-wealthy are paying little to no tax. The EU Tax Observatory said most people pay a higher rate than the super-rich, who, it said, are able to use…
October 23, 2023
CDB releases new publication to help member states
The Barbados-based Caribbean Development Bank (CDB) Monday said it is further assisting its borrowing member countries (BMC) strengthen and reform their regulatory frameworks to better facilitate private investments in renewable energy. The region’s…