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LOWERING the Value-Added Tax (VAT) rate would be a “positive” for the marina industry, one local operator said yesterday, adding that the possible postponement of its implementation was “ even better news” given the uncertainty over its impact.
THE Government’s move to bolster the Royal Bahamas Defence Force’s (RBDF) fleet by purchasing nine new vessels was yesterday described yesterday as a “bright light” for Bahamian fishermen in the long-running fight against illegal poaching.
Interacting with students and young designers has always been a rewarding endeavour for me. I often receive plenty feedback from potential designers and college students seeking advice regarding design careers. This unquestionably is a positive step in the right direction.
Employees at 17 Bahamian businesses shed their normal office wear last Wednesday in favour of brightly-coloured t-shirts to support the Coalition for Responsible Taxation (the Coalition).
The Winterbotham Trust Company has been approved as the Bahamas International Securities Exchange’s (BISX) seventh sponsor member, responsible for ensuring the smooth listing of mutual funds on the exchange. It will be added to the roster of eligible sponsor members qualified to introduce mutual fund listings to BISX.
Bahamian small businesses have virtually zero confidence in the existing Government and private sector institutional support structure that is meant to assist them, creating “a possible credibility issue” for efforts to reform this initiative.
A leading tourism executive yesterday said predictions that the industry’s contribution to Bahamian GDP will increase almost 8 per cent this year reinforce the need to ensure it remains “globally competitive against any other destination” post-fiscal reform.
The Government’s joint venture partner in efforts to reform New Providence’s landfill is a 60 per cent majority foreign-owned company that was initially formed, and registered, by Deputy Prime Minister Philip Davis’s law firm.
BISX-listed Consolidated Water yesterday said that extending assets at the Windsor reverse osmosis plant “beyond their useful life” had helped boost its 2013 bulk water supply margins by seven percentage points, while acknowledging it would be “doing some work” at the Nassau-based facility if its operating contract was renewed.
The Free National Movement’s (FNM) deputy chairman believes it would be “unconscionable” for the Government to implement Value-Added Tax (VAT), suggesting that it could instead cut its fixed costs by around 10 per cent.
The Bahamas Telecommunications Company (BTC) yesterday confirmed its former chief executive, Leon Williams, has been appointed as a special adviser to BTC’s chairman, Phil Bentley,
A Grand Bahama-based stem cell clinic yesterday announced it had taken its financial war chest to a total $14.2 million, after completing an $8.9 million financing round.
“I want to tell you something that will transform your business. But I do not like to give my ideas out because too many people steal them.”
Some 104 hotel industry scholarships valued at $428,000 have been awarded to Bahamian students in the past nine years, aided by the collaborative efforts of the Bahamas Hotel and Tourism Association (BHTA), the Bahamas Hotel Employers Association (BHEA) and the Caribbean Hotel and Tourism Education Foundation (CHTAEF).
The NASSAU Airport Development Company’s (NAD) top executive yesterday said it was “naturally concerned” over the potential for long passenger queues given the liklihood of industrial action by Customs & Immmigration staff, adding that airport officials had been given assurances from agency heads of adequate deployment.
THE Balmoral’ development’s principal yesterday said he was gearing up for the launch of his latest luxury beachfront condominium project on Cable Beach, telling Tribune Business he was aiming to capitalise on strong demand from the international investors for high-end Bahamian real estate.
A Callenders & Company partner will play a prominent role at a major international aviation conference in Panama this April.
A leading private aviation guide yesterday said he was contacted by 150 pilots in two hours to advise him they were no longer flying to the Bahamas after reading his latest blog on this nation’s new and increased Customs and Immigration fees.
The Water & Sewerage Corporation’s persistent financial woes saw it run up an unpaid $14 million bill with its main BISX-listed supplier by year-end 2013, it was revealed last night.
The Government was yesterday urged to intervene in the increasingly bitter dispute involving Freeport Harbour’s marine pilots before it undermined what one MP described as “the gateway” to the city’s maritime and industrial economy.
Grand Bahama’s Grand Lucayan resort is planning to lay-off more than 50 full-time employees, a trade union alleged yesterday, replacing them with part-time staff who will have less job security.
Frustrated wreck salvagers are visiting Nassau this week to discover why the Government has delayed acting on their licence applications for more than two years, amid fears the Bahamas is losing out on its heritage and a multi-million dollar economic boost.
A BAHAMAS-based cloud computing company is hoping to “cash in” on the growth in offshore data storage and leverage its services to international firms, telling Tribune Business it was “fully equipped” to meet their needs.
MINISTRY of Tourism executives yesterday said they were focused on bringing sports tourism to the “forefront” of this nation’s offerings, leveraging relationships with major Florida franchises such as the Miami Dolphins to attract more top events to this destination.
The BAHAMAS Hotel & Tourism Association’s (BHTA) president believes the Prime Minister’s promise of a lower Value-Added Tax (VAT) rate and possibly delayed implementation date is a “welcomed indicator” that the Government is considering private sector’s concerns over the economic impact of fiscal reform.