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A well-known contractor yesterday suggested Bahamian politicians did not want to pass legislation to regulate the industry because it would prevent them “giving out contracts to cronies”.
A Bahamian dry cleaning chain says that to remain “viable” it may have to look at laying-off some of its 114 employees in the next “three to six months” if sales continue to decline at June’s pace.
The Ministry of Finance is aiming to kick-off a renewed Value-Added Tax (VAT) education campaign this month, but is still waiting for the Christie Cabinet to approve the revised Bill and regulations.
The Bahamas Real Estate Association’s (BREA) president was yesterday “on pins and needles” over sought-after Government responses that will determine the next move over the controversial appraisal system being pushed by two Canadian-owned banks.
The Government told Bahamian providers it will earn $5 million per annum from the recycled products manufacturing joint venture at the New Providence landfill, although it still “seemingly can’t explain” the deal with Renew Bahamas.
The Government was yesterday urged “not to lose eyes for the prize” in reinvigorating the Bahamian small and medium-sized business sector, a well-known consultant disclosing that long-awaited reforms were likely to be implemented in the New Year.
The Caribbean Hotel and Tourism Association (CHTA)’s presiden for the next two years has been welcomed into his new role by Suzanne Pattusch, executive vice-president of the Bahamas Hotel and Tourism Association.
Numerous executives and professionals attended the official launch of Sterling Bahamas Realty (SBR) at a $6.5 million Ocean Club Estates residence that is listed exclusively by the young firm.
A strong Bahamian contingent attended the annual trade summit for outbound Chinese tourism.
The Department of Physical Planning has received the lowest rating of all companies and agencies surveyed by a newly-launched Bahamian information services company.
The Bimini Bay Resort is facing a homeowners revolt in the Supreme Court, with multiple purchasers voicing concerns over how their properties and multi-million dollar maintenance fee sums are being managed.
The Bahamas must liberalise Immigration policy towards upper and middle management posts to generate the economic growth necessary to create jobs for its 55 per cent “unskilled” school leavers.
The Government has hired CIBC FirstCaribbean to raise a $100 million “bridge financing” facility for it, with an initial interest coupon some 160 basis points below the Prime lending rate.
The former Sawyer’s Fresh Market and Saveco property in Nassau Village is up for sale with buyers actively being sought, Tribune Business confirmed last night.
A leading businessman has expressed confidence that the US government’s controversial Investment Climate report will deter few investors from coming to the Bahamas, adding that it was “not the first low standard work” coming from the Nassau Embassy.
Atlantis will be “redirecting” its focus to renewable energy generation systems now that it has concluded its $1.9 billion debt refinancing, its top executive saying last week’s island-wide power blackout could not have happened at a worse time.
The private sector is calling for greater consistency from the Bahamas Electricity Corporation (BEC) in its electricity supply and alternative forms of energy in the wake of last weeks island wide blackout, with one business owner calling the situation “past frustrating”.
The historians have documented the economic history of the Bahamas very well.
A leading businessman is backing government plans to maintain the status quo and prevent Bahamians from gambling in casinos, telling Tribune Business: “If it isn’t broke, don’t worry about it.”
The Government was yesterday urged to deal rapidly with the “no brainer” casino gaming reforms, a former Chamber of Commerce president arguing it would be a “crime” if Bahamas-based facilities were unable to upgrade their offerings due to delayed legislation.
While agreeing with a US government report that the Bahamas’ public sector procurement/contract process “lacks transparency”, a leading businessman charged that the US was guilty of much the same and called for a change in the “status quo”.
Grand Bahama hotels have seen a 37 per cent room revenue increase year-to-date as a result of the extra airlift associated with the Memories resort’s opening.
Kerzner International said yesterday the Atlantis brand has been driving significant development in new markets such as Dubai and China, and was continuing to expand the brand globally.
A Long Island bonefishing lodge owner says his $1.5 million investment and six jobs are being jeopardised by illegal netting, which threatens to “wipe out” the industry within the next five years.
The Tax Coalition’s co-chair yesterday said there ad been no contact with the Government since the Budget’s unveiling more than a month ago, complaining that the Christie administration was “dragging their feet on everything” vital to the private sector.