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The Opposition’s finance spokesman yesterday said he would “fully support” the Government selling its controlling 65 per cent interest in Bank of the Bahamas International, calling for it to get out of business altogether.
THE Bahamas will open up eight additional gateways for US visitors within the next six to seven weeks, the minister of tourism said yesterday, in a bid to meet 2-4 per cent industry growth targets.
CIBC FirstCaribbean International Bank (Bahamas) is potentially moving to downsize its presence on Bay Street, having leased a “very small space” on the Parliament Street corner.
Grand Isle Resort & Spa and the Bahamas shared an unusual world first last week when professional hockey players, decorated Olympians and hotel guests faced off in a road hockey game on the island of Farmer’s Cay.
The Bahamas’ decision to implement Value-Added Tax (VAT) did not result from the International Monetary Fund (IMF) holding a gun to the Government’s head, a key Ministry of Finance consultant says.
Nine months after fire swept through its busiest branch, Commonwealth Bank yesterday said an expanded and thoroughly rebuilt Oakes Field location will open this Monday following a $2.1 million renovation and rebuild.
Reality check. The marketing budget is often the first thing cut when business is down.
Opposition politicians yesterday questioned whether the Government’s decision to increase regulation and Business Licence fees for the commercial banking sector was driving the decision by Canadian-owned banks to increasingly outsource back office functions outside the Bahamas.
CIBC First Caribbean International Bank (FCIB) yesterday confirmed plans to cut 66 jobs from its Bahamian workforce, revealing that those posts would be outsourced to Jamaica.
Sky Bahamas yesterday warned it may soon suspend flights to Cat Island because of “horrible” runway conditions, its chief executive again accusing the Government of failing to support Bahamian-owned airlines.
The ex-minister responsible for driving the new Planning Act into law says a public meeting “is not anticipated” on every proposed development project seeking government approvals.
Commercial airlines have yet to resolve their issues with the Government’s new taxes after receiving a “curve ball” on how outstanding monies are to be dealt with, Tribune Business was told yesterday.
The Central Bank’s governor last night effectively urged the Government to get a move on in addressing the “vulnerability” caused by unregulated web shop gaming, warning it threatened to undermine plans for a Bahamian Credit Bureau.
The Bahamas is aiming to increase destination wedding visitors beyond the 100,000 this nation attracted in 2013.
A senior Cable Bahamas executive has been appointed chairman of the Caribbean Cable Telecommunications Association (CCTA) at their annual meeting in San Juan, Puerto Rico.
While “not time to break out the champagne yet”, a former finance minister said the Bahamas’ fiscal position will have “turned the corner” if it can be maintained for 18 months.
THE Bahamas Bureau of Standards (BBS) should adopted “at least” five national standards by early 2015, a CARICOM executive said yesterday.
A well-known realtor has slammed several attorneys for “jerking me around” over his $220,000 commission for the sale of a prominent East Bay Street building, telling Tribune Business: “They’re treating me like a step child.”
Cable Bahamas is aiming to slash interest costs by up to two percentage points via its $100 million preference share restructuring, revealing to Tribune Business yesterday that its Florida and local growth initiatives are “on plan”.
The Government has moved to alter the Business Licence fee process for companies whose financial year-end is not the same as the calendar year, in a bid to counter non-compliance and ease the path to quarterly payments by 2015.
The Bahamas is “20 years too late” in implementing Value-Added Tax (VAT), a leading accountant believes, with successive governments deferring reform for fear it would cause defeat at the polls.
A former finance minister says he “cringes” whenever economic diversification is discussed because this ignores the Bahamian reality and need to “extract more” from the tourism industry.
A leading low-cost developer is gearing up to expand its housing solution by adding another 30 lots, its president telling Tribune Business: “We can’t wait to get started”.
THE Bahamas Real Estate Association (BREA) is moving to compile membership queries and concerns on the proposed Value-Added Tax (VAT) system before it presents its formal position to the Government, its president says.
Yuan Guisen, resident ambassador of the People’s Republic of China to The Bahamas, and Madame Yang Hong, payed a courtesy call on the Grand Bahama Chamber of Commerce’s (GBCC) officers and directors.