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The Water and Sewerage Corporation (WSC) has signed a contract worth over $900,000 with four advisers, including two Bahamian companies, for the overhaul of the water industry’s economic and environmental regulatory framework.
The Obama administration has praised the Bahamas for being the only Caribbean nation to make royalties payments to TV programming rights holders in 2013, boosting this nation’s reputation as a “responsible trading” partner.
The Government refused to approve a $20 million agriculture project for North Andros because it did “not warrant” the special treatment it was seeking in the form of investment incentives.
A Bahamian software provider believes “a very interesting marriage” will enable it to penetrate Europe and larger clients, and enable it to hire four-five more local staff within the next year.
National Health Insurance (NHI) is “dead on arrival” unless the Government can develop an affordable contributory plan, an outspoken businessman urging it to “look at itself” before it approaches the private sector.
Family Guardian’s holding company met “strong budgetary expectations” for 2013 with a 26.3 per cent comprehensive income rise, with net assets boosted by over $20 million via the consolidation of its mutual fund family.
Grand Bahama Power Company says it undershot its regulator-approved rate of return by $5.26 million for the year to end-December 31, 2013, due to the weak economy and reduced sales.
A Tax Coalition co-chair has questioned the rationale for the Bahamas becoming a full World Trade Organisation (WTO) member, given that it cannot compete with lower cost Caribbean rivals.
The Central Bank has moved to review the “legislative framework” for the Deposit Insurance Corporation, which saw its assets increase by $4.5 million to end 2013 at $32.1 million.
China Harbour Engineering Company (CHEC) has teamed up with the Government to provide relief supplies to more than 100 Abaco residents who were left homeless following a fire.
A “key” external reserve benchmark was below its target threshold for the final 10 months of 2013, the Central Bank of the Bahamas has revealed, dropping more than 10 percentage points below minimum in the Christmas run-up.
The manufacturing facility for a proposed $50 million aragonite mining project will be located on Grand Bahama outside the Port area, a spokesperson yesterday saying it was unclear whether Wednesday night’s Town Meeting was truly representative of local community opinion on the project.
Increased tax revenues will not by themselves cut the Bahamas’ debt-to-GDP ratio to desired levels, a Tax Coalition co-chair yesterday telling Tribune Business that comprehensive fiscal reform must be this nation’s “mantra”.
A Tax Coalition co-chair yesterday warned the Government “the suit has to fit the cloth” with its proposed National Health Insurance (NHI) scheme, adding that implementing it so soon after tax reform risked imposing an unsustainable burden on consumer and business.
SuperClubs Breezes owner has called on the Government to treat tourism as an export industry for Value-Added Tax (VAT) purposes, adding that Nassau and the Bahamas would “see a real uptick” in the economy by 2015.
The Albany developers yesterday said they had promised the Government to re-open South Ocean’s golf course “within three months” if their joint venture with Och-Ziff was successful in acquiring the neighbouring resort property.
Investors are planning to inject $2 million in start-up capital into an Abaco-based soybean, corn and dairy cattle farming venture that could create some 30 jobs.
A Bahamian environmentalist says Costa Rica has shown every country in the Caribbean that preserving natural beauty pays, appealing to visitors who treasure flora, fauna and natural wonders above t-shirts and trinkets.
This week we pause to celebrate mothers, and the contributions they make to the corporate world. I have heard many say that it is a mother’s resolve to provide for her children that causes women to be so driven and productive at work.
Small and medium-sized culinary businesses will receive a boost from the inaugural Sweeet Fest, which is designed to showcase their products and creativity to residents and tourists alike.
SuperClubs Breezes owner yesterday said the resort remained committed to a $50-$100 million expansion that could create up to 500 jobs, and was poised to move once Baha Mar’s completion and other key factors fell into place.
East Grand Bahama’s MP yesterday said he would have “difficulty” with a proposed $50 million aragonite mining project if it forced his constituents to trade their self-empowered lifestyle for jobs, given its potential impact on the area’s main fisheries source.
Freeport businesses yesterday filed their long-awaited legal challenge to the 2013-2014 Budget’s new and increased taxes with the Supreme Court, in a bid to recover all monies paid to the Government over the past 10 months.
SuperClubs Breezes owner yesterday said outstanding issues over its land swap agreement with Baha Mar were proceeding to resolution, with his property “ready, willing and able” to fulfill all its obligations.
A top QC yesterday said the Government would be unable to levy its “illegal taxes” in Freeport until 2054 if Port Authority licensees succeed with their Supreme Court action.