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Palm Cay condos beating schedule

Six weeks after buyers turned reservations into purchases at Palm Cay’s first condominium offering, construction work is well underway with infrastructure and site preparation slightly ahead of schedule.

Prices 'through roof' on grocers' 20% VAT recovery

Food stores could recover as little as 15-20 per cent of their Value-Added Tax (VAT) ‘input’ costs under existing legislation, a leading retailer yesterday warning this would drive prices “through the roof” plus result in business closures and lay-offs.

'Jail time' urged to crack down on $20m poaching

Fishermen yesterday described this week’s capture of a Dominican fishing vessel and its crew as “just the tip of the iceberg”, estimating that a “conservative” $20 million worth of fish was stolen annually from Bahamian waters.

IDB 'says it all' on renewables inaction

The Bahamas Renewable Energy Association’s president yesterday said a recent Inter-American Bank (IDB) report “says it all” on renewable energy, adding: “The opportunity’s there but nothing’s being done.”

Airlines to appeal 'unreasonable' VAT

Leading Bahamian airline executives say the sector will “without a doubt” appeal the Government’s decision to levy 15 per cent Value-Added Tax (VAT) on domestic air transportation, describing the move as “unreasonable”.

Broker blasts $11m suit's 'deficiencies'

A now-defunct Bahamian broker/dealer and its principal have reiterated that they were “not a substantial factor” in an alleged $11 million stock fraud, and the allegations against them were “deficient”.

MARKETING REVOLUTION: The right relations with Christmas time

The Huffington Post reported that a man jumped to his death off a seven-storey balcony at a mall in China because his girlfriend would not stop shopping after four hours.

RICHARD COULSON: VAT 'gaps' spark public resistance

At last we have it: The Government’s recently published ‘Summary and Explanation of the Draft Legislation’ is a solid, workmanlike summary of the proposed Value-Added Tax (VAT) regime.

PM set to address Business Outlook

Prime Minister Perry Christie has confirmed he will deliver the keynote address at the 23rd annual Bahamas Business Outlook (BBO) conference, scheduled for January 13, 2014, at the Melia Nassau Beach Resort.

Receiver's 'conflict concern over undervalued $15m sale'

The receiver for a well-known Abaco resort/marina development has alleged that part of its real estate holdings have been sold at $15 million below market value, with its property manager placing himself in “numerous conflicting positions”.

'Outrage' over punishment for Oceania lawyer

Homeowners at the controversy-plagued Oceania Heights project yesterday said they were “outraged and stunned” after the Bahamas Bar Association’s Disciplinary Tribunal effectively let one of the key players off with a “slap on the wrist”.

Satellite Bahamas chiefs hit by bank records blow

Satellite Bahamas’ principals have suffered a fresh blow in their ongoing battle with the US’s largest satellite TV provider, after a judge ruled that it could obtain information on their bank and personal financial transactions.

Six-month 'past due' loans double to 60%

The proportion of non-performing loans more than six months’ past due has almost doubled from pre-recession levels to 60 per cent, reflecting both borrower struggles and bank repossession difficulties.

VAT's 'stronger merits' defeat all alternatives

A top government official yesterday said Value-Added Tax (VAT) had “stronger merits” than any alternatives put forward by the private sector to-date, with those options also having to “confront” structural weaknesses in the Bahamian economy.

Scotiabank backs Junkanoo groups

With the countdown on for the upcoming Junkanoo Parades, Scotiabank (Bahamas) has provided financial donations to the major groups.

Giving gets you into the Christmas spirit

In DA marketing spirit. It is the holiday season, and for some it is a great time of sharing, socialising and, yes, eating. However, for others it is not such a good time for many different reasons.

Private sector unveils $304m new tax measures

The private sector’s Tax Coalition has submitted $304.427 million worth of new revenue-raising measures to the Government as part of its alternatives to Value-Added Tax (VAT).

Realtors object to three 'taxes' in Coalition plan

The Bahamas Real Estate Association (BREA) has objected to three revenue-raising proposals in the private sector’s Value-Added Tax (VAT) alternatives package, its president fearing they will have “grave consequences” for the industry if adopted.

Coalition: 'Cap' Gov'ts spending within 3-5 years

The private sector has called for Budget caps “to be imposed at all levels of government” within the next three-five years, as part of a 13-pronged strategy to rein in public spending and make the Bahamas “one of the most prized nations in the world”.

SEC case against Bahamian broker 'among weakest'

A judge has given a significant boost to a Bahamian broker/dealer and its principal in their ongoing legal battle with US regulators, finding that a key element of the case against them was “weaker than any other” he had seen.

Homeowners 'freaked out' by receiver's Orchid Bay takeover

Bewildered homeowners at a major Abaco resort/marina development yesterday told Tribune Business they were “a bit freaked out” after a team from Grant Thornton (Bahamas), backed by police officers, took over the site and removed the long-standing property managers.

Bahamasair targeting 30% tourist load rise

BAHAMASAIR is aiming to further drive growth in the international market, a senior executive telling Tribune Business that tourist traffic now accounts for roughly 30 per cent of passengers on its international routes.

Group business grows as 25% tourism base

GROUP business is growing in importance to the country’s overall tourism product, a Ministry of Tourism executive noting that the Bahamas has significant penetration in the incentive market.

BFSB unveils EU funds conference

The Bahamas Financial Services Board (BFSB), in collaboration with the Ministry of Financial Services, the Securities Commission of rhe Bahamas (SCB), plus corporate sponsor Ernst & Young (EY), will host a half-day seminar on the European Union’s (EU) Alternative Investment Fund Managers Directive (AIFMD) on Monday, January 13. The event will be held at the British Colonial Hilton at 10am.

Melia targets $18m Cable Beach upgrade

THE all-inclusive Meliå Nassau Beach Hotel is set to undergo an $18 million upgrade set for completion in December 2014, its general manager telling Tribune Business the resort’s restaurant and bar count would likely be doubled, creating additional jobs.