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Grand Bahama’s new four-star Memories Resort has more than 18,000 bookings “already in hand” to ensure an 80 per cent average occupancy level this winter, Prime Minister Perry Christie said yesterday, adding that Bahamasair will in May start a wet lease arrangement with its owners for service from up to eight US cities.
Tobacco imports recorded at Bahamas Customs are almost one-eighth of the true value that should be declared, the International Monetary Fund (IMF) has estimated, indicating the existence of “large-scale smuggling”.
THE Government is planning to develop a “green subdivision” in the Carmichael Road area, a Cabinet said yesterday, telling Tribune Business that its housing programme should kick-off within the next few weeks.
BAHAMIAN involvement and participation in investment projects “cannot be left to chance”, the chief executive of a $1 billion US-based company yesterday arguing: “We need to be creating businesses and not just projects.”
Sometimes, the best business lessons are the ones we have know the longest but cannot remember.
As part of Tropic Ocean Airways’ February 14 launch of its inaugural seaplane scheduled charter service toHope Town in Great Abaco, one couple will spend their Valentine’s Day weekend at the Abaco Inn on a complimentary three-night vacation package.
A Freeport-based business is liquidating its $1 million-plus inventory after the new Customs fees “killed” its wholesale distribution model, its principal warning: “If things don’t change soon, we may not survive beyond year-end.”
The former Bacardi plant’s principal is aiming to ultimately invest $5-$6 million in installing solar panels on the property’s eight acres of roof space, with long-term plans involving the supply of power to surrounding subdivisions.
MORE than 100 retailers have joined an industry federation opposing Value-Added Tax’s (VAT) introduction, its co-chairman charging that Barbados’s predicament had “completely dispelled” the assumption the tax was a “magic bullet” for this nation’s fiscal woes.
A seven-year saga over the ‘common areas’ in one of New Providence’s most luxurious subdivisions is set to climax at a January 27 vote, amid homeowners’ objections to the developer’s planned marina.
The Bahamas Real Estate Association’s (BREA) president has backed International Monetary Fund (IMF) suggestions that Stamp Duty rates be reduced once the Government’s Value-Added Tax (VAT) revenue targets are hit.
An Abaco-based timber harvester is aiming to move into full-scale production by end-February, having already harvested 300 trees.
A well-known real estate developer has urged prospective Bahamian buyers to purchase within the next three-four months, warning that land prices could “skyrocket” by over 30 per cent.
A wholly-Bahamian owned cigarette and tobacco manufacturer plans to have its growing program on Andros at “full throttle” this summer, a move which is expected to create 50-55 direct and indirect jobs on the island.
With less than six months to go before Value-Added Tax’s (VAT) implementation, top officials and representatives from various government ministries and departments have begun training with international consultants from New Zealand and Canada.
The Ministry of Finance has launched a hotline with experts standing by to answer questions about the proposed Value-Added Tax (VAT) system set to go into effect on July 1.
By NATARIO McKENZIE
BANK of the Bahamas International (BOB) says it is heading into 2014 with shareholder equity topping $138 million and a robust capital ratio of 22 per cent, well above local and international regulatory requirements.
The owner of a beach club demolished by the Bimini Bay Resort’s developer has been given permission to apply to commit its principal, Gerardo Capo, and other executives to Fox Hill prison for alleged contempt of court.
The former Bacardi plant’s owners yesterday pledged to “move forward” with establishing a high-end IT school, having enlisted the company responsible for the Bahamas’ e-passport and border control systems as its project partner.
A top auto dealer yesterday backed the International Monetary Fund’s (IMF) call to increase tax rates related to the sector, suggesting this could generate up to $40 million in extra government revenues per annum.
MARINE industry stakeholders yesterday balked at proposed fees to regulate the lightering industry, one prominent executive describing them as “unheard of” and warning that such a move could kill the sector and “stifle” the Freeport economy.
A well-known Bahamian investor yesterday disclosed that the capital investment in his proposed Coral Harbour resort/entertainment centre is set to increase by $250 million due to the addition of a 300-unit timeshare complex.
At the start of this New Year, let’s fill our hearts with hope and become our brother’s keepers. Let’s keep the family of the late Winston ‘Gus’ Cooper and ‘King’ Eric Gibson, two outstanding Bahamian icons, in our prayers as they battle their loss.
A leading real estate broker believes China’s importance to the Bahamian economy cannot be “overstated”, having discussed this nation’s growing Far East ties with the Minister of Foreign Affairs.