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Gov't urged: Delay WTO accession to'align all stars'

The Government was yesterday urged to delay this nation’s World Trade Organisation (WTO) accession and bring it into line with Value-Added Tax (VAT) implementation, giving the Bahamas a perfect opportunity to “align all the stars”.

Payment made to end TV signal piracy' claims

Satellite Bahamas and its principals last night joined DIRECTV in filing a proposed motion to dismiss the latter’s ‘TV signal piracy’ case against them, after an unspecified sum of money was transferred to a US bank.

Hard Rock closure hits 38 employees

The Bahamian Hard Rock Cafe franchise continued operating for almost three months after its rights to use the brand were terminated, as its 38 former employees yesterday blasted its failure to give them due severance pay.

Bahamas can be arbitration hub 'within 5 years'

The Bahamas has the potential to establish itself as a leading arbitration hub within three-five years, an international executive said yesterday, ahead of a conference that will discuss creating a Bahamian international commercial court for the Americas.

Shipyard assists 30th anniversary celebration

Grand Bahama Shipyard helped Cruise Shipping Miami celebrate its 30th convention anniversary by hosting a reception for participating clients, Bahamian style.

Investors get approval for 'first-of-a-kind' oil conversion plant

A publicly-traded UK company has increased its equity stake in a proposed Grand Bahama-based oil recovery plant to almost 36 per cent, with the latter believing changes to its development plan will be “commercially beneficial”.

Banding together to be a Mastermind

I met Pete Mitchell in a lounge that had been set up for networking during a marketing seminar in Chicago. We chatted for a while on our businesses, and the most effective tools we were using.

Office development set to create 200 building jobs

A newly-launched western New Providence office development has generated an “impressive” level of interest in the past two days, its broker yesterday revealing it should break ground later this year and create roughly 200 construction job.

Brewery volumes down 2% on 'Major' smuggling rise

Commonwealth Brewery yesterday attributed its almost-2 per cent sales volume decline in 2013 to a “significant increase” in beer and spirits smuggling, its chief executive warning that this was “bad” for both company and the Government.

Bank: 'worst' over in 2014 despite $4.2m loss

Bank of the Bahamas International yesterday expressed confidence that “the worst” of its net losses and bad loan provisions will be behind it after 2014, following a quarter in which shareholders incurred a further $4.172 million in ‘red ink’.

Gov't 'nullifies' approvals for $45m project

A proposed $45 million Cable Beach real estate development may have some unexpected roadblocks to overcome, after senior government officials yesterday told Tribune Business its ‘approval in principle’ had been “nullified”.

Bank consolidation for former John S George HQ

Bank of the Bahamas International is exploring the consolidation of key back office functions at the former John S George head office in Palmdale, its managing director told Tribune Business yesterday.

Bahamian expats in rum 'ramp up'

Two Hong-Kong based Bahamian entrepreneurs are seeking to “ramp up” their rum distribution business within the next six months, as they aim to capitalise on Asia’s growing interest in premium and fine spirits.

Bahamas aims to complete FATCA by next week

The Bahamas is aiming to finalise its Foreign Account Tax Compliance Act (FATCA) inter-governmental agreement (IGA) with the US next week, a Cabinet minister said yesterday.

Law firm gains top rankings

Chambers and Partners, the London-based legal services referral and ranking service, has given Graham Thompson & Company, a top ranking with a ‘BAND 1’ designation for its Bahamian and recently-opened Turks and Caicos Islands office.

Tax reform clouded by critical missteps

For several months now, I have deliberately excluded myself from the ongoing discussions over the pending implementation of a Value-Added Tax (VAT) regime. Several years ago I wrote a four-part series on taxation options for the Bahamas, in which my conclusion was that:

Sales training will never end

It costs money to provide your people with professional training. The better the training, the more money it costs. The bigger and more important the outcomes, the more you are likely to spend.

Bahamas enjoying 15% funds growth

THE Bahamas saw a 15 per cent year-over-year increase in funds registered and domiciled in this nation in 2013, the Financial Services Minister said yesterday.

Gov't 'won't sit idle' on labour skills gap

By NATARIO McKENZIE

Chamber: NHI costs 'a major concern'

THE Bahamas Chamber of Commerce and Employers Confederation (BCCEC) is finalising the formation of a committee to review the Government’s National Health Insurance (NHI) proposals, its chief executive agreeing that implementation costs were a major concern.

$500m healthcare 'infusion' via infrastructure privatise

The Government could encourage more than $500 million in new investment by privatising the Bahamas’ healthcare infrastructure, a well-known physician arguing this model would remove “a noose around its fiscal neck”.

Gov't to reconfigure Bank of Bahamas Board

The Government is moving to reconfigure the Board of BISX-listed Bank of the Bahamas International, whose annual general meeting (AGM) has been delayed by the wait for directors to be named.

Bahamas healthcare costs 'considerably higher' than region

Bahamian healthcare costs are “considerably higher” than those for other Caribbean nations, the Tax Coalition’s co-chair describing whether the economy could absorb National Health Insurance (NHI) on top of VAT as “a big question”.

Debt collector sees 40% business growth

A leading debt collection agency experienced a 30-40 per cent business increase in 2013, with its principal expressing concern over the “integrity and experience” of newly-established rivals.

Wilson succeeds Sir Albert as FOCOL chair

Businessman Franklyn Wilson has been elected as chairman of BISX-listed Focol Holdings (FOCOL) and reappointed as a director – a post he has held for 31 years.