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AML Foods is aiming for non-food retail sales to comprise “north of 25 per cent of our sales mix”, in the hope that diversification will counter Value-Added Tax’s (VAT) potential impact.
AML Foods has serious “concerns” for its early 2014 performance, following a September that its chief executive described as “easily our worst month” since he took the post six-seven years ago.
Bahamas First believes it is on track to match or “slightly exceed” last year’s $5.689 total comprehensive income in 2013, as it continues to seek both local and Caribbean acquisition opportunities.
Bahamian food retailers fear the Government’s Value-Added Tax (VAT) legislation will have a “profound impact” and result in job losses, increasing their cost base by up to 12 per cent.
The developers behind Bimini’s controversial cruise terminal would have suffered “severe and dire consequences”, amounting to a 10-15 per cent increase in their projected $11 million operating loss for 2014, had the Supreme Court blocked its construction.
A Grand Bahama-based cigarette manufacturer is reporting “excellent market interest” in its Palms brand less than three months after its launch, with sales exceeding initial expectations.
The Supreme Court’s decision not to grant an injunction halting work on Bimini’s controversial cruise terminal sets a precedent that “stifles access to justice” for ordinary Bahamians.
Bahamian hotels unanimously believe the Government will be “unsuccessful” in implementing Value-Added Tax (VAT), and that it will ultimately deter inward investment.
The Dairy Queen franchise has created 14 new jobs through its $400,000 expansion to Cable Beach, its principal yesterday disclosing ambitions to grow beyond its fourth location with outlets in downtown Nassau and other islands.
The developer behind Bimini’s controversial cruise ship terminal yesterday pledged “unwavering commitment” to the island and the project, despite opponents “jumping for joy” over their night-time sailing ban.
The Bahamas’ growth and economic diversification “depend” on fortifying its coast against natural threats, the Inter-American Development Bank (IDB) noting that 60 per cent of its gross domestic product (GDP) is generated by these areas.
The Tax Coalition’s co-chair yesterday reiterated that the Bahamas “cannot tax our way out of” the current fiscal crisis, as he urged this nation to avoid the “disturbing” example set by Barbados.
Family Guardian’s BISX-listed parent has unveiled a 26 per cent net income increase for the nine months to end-September 2013, aided by annuity deposits more than doubling year-over-year.
BISX-listed ICD Utilities is making its first capital return to shareholders in three years, as it prepares to pay out a collective $1.25 million dividend on January 3, 2014.
Ethical Traveler, a non-profit organisation that compiles an annual list of countries to visit around the world, has named the Bahamas in its World’s Ten Best Ethical Destinations for 2014.
Focusing on ‘Charting a New Course for Growth in 2014’, Prime Minister Perry Christie will lead the speaker schedule for the 23rd annual Bahamas Business Outlook (BBO).
By Ian Ferguson
Resorts World Bimini’s “entire operations are in peril” as a result of the US government banning a key aspect of its business model due to alleged immigration violations, Tribune Business can reveal.
Resorts and bonefishing guides yesterday expressed outrage that a Bahamian company was seeking approval for sand mining just outside a proposed Marine Protected Area (MPA) off eastern Grand Bahama, fearing it will jeopardise both investments and livelihoods.
Stock market investors “should be expecting 10 per cent or north of 10 per cent” returns in 2014, a leading investment banker said yesterday, with Baha Mar’s impact effectively cancelling out any tax-related negatives.
Super Value’s president yesterday said the proposed VAT ‘split tax treatment’ for food retailers would cost the supermarket chain $3-$4 million per annum, and potentially “wipe out most of the industry”.
The Government has yet to confirm “in writing” that it will remove the 1 per cent Customs administrative processing fee in Freeport, it was disclosed yesterday.
Bahamas Waste’s managing director yesterday said he planned to meet the Minister of the Environment over the residential garbage collection contracts, after the Government cut back its business earlier this month.
Na-amah Rahming, a member of the Scotia Private Client Group, passed the Canadian Securities Course (CSC) after studying with the Nassau-based Securities Training Institute (STI).
Coldwell Banker Lightbourn Realty has expanded its appraisal team to seven in response to an increasing demand for property valuations.