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'Victory for all employers'

Bahamian businesses were last night celebrating “a victory for all employers” after the Court of Appeal quashed an Industrial Tribunal ruling that effectively gave all workers an extra week of paid vacation annually.

Treasure Cay project 'desperately needed'

The Treasure Cay development under fire from both locals and environmentalists yesterday said its project could ultimately involve a $10-$20 million investment, and create 100 “desperately needed” jobs, if it was allowed to fulfill its plans.

'How else can the Bahamas attract FDI?'

A prominent businessman yesterday blasted “frivolous” criticism of Prime Minister Perry Christie’s recent travels, and questioned: “How else can the Bahamas attract foreign direct investment?”

Two-phase implementation for small business reform

The long-awaited Small Business Development Bill will be passed into law early in the New Year, a well-known consultant said yesterday, with the organisation key to its on-ground implementation established by mid-2014.

Abaco Club offered to owners for $28m

PROPERTY owners at the Abaco Club on Winding Bay do not believe the development is worth “anywhere close” to the $28 million price tag its current owner, Marriott Vacations Worldwide, is asking for.

MARKETING REVOLUTION: Tasting success through sampling

When you go to a large food court in a mall, there sometimes seem to be enough samples there to have a meal. Of course, the food vendors have a different objective other than giving you free food.

Capital markets to match 2013's $130m

A leading investment banker yesterday said he expected 2014 to be “similar” to this year in terms of capital raising, with more than $130 million obtained from Bahamian capital markets investors over the past 12 months.

Over 50 attendees at electricians seminar

Around 50 electricians and electrical engineers gained invaluable information last Tuesday during a one-day seminar on the Canadian Electrical Code Part I, which is the standard adopted by the Bahamas.

PHA offering 'very close' to $50m goal

The Public Hospitals Authority’s (PHA) bond issue was oversubscribed by $3.324 million, Tribune Business was told yesterday, with the sum raised coming “very close” to its placement agent’s $50 million prediction.

Reforms must tackle 'mind boggling' waste

“Mind boggling” waste in the public sector must be tackled as part of a three-pronged solution to the Bahamas’ fiscal imbalances, a leading businessman asserting that Value-Added Tax (VAT) was not the solution by itself.

Gov't, grocers 'like two deaf people' in VAT meet

The Government’s meeting with the Retail Grocers Association over Value-Added Tax (VAT) was yesterday likened to “two deaf people trying to have a conversation without the assistance of a lip reader and signer”.

Satellite Bahamas chiefs accused of 'hiding' evidence

Satellite Bahamas’ principals have been accused of “attempting to hide or delay the disclosure of evidence” vital to a lawsuit against them, with the US’ largest programmer now alleging their spouses assisted the purported scheme to ‘pirate’ its signal.

SCOTT FARRINGTON: Sales prospects are a 'two-way street'

There are so many things about my profession that I like, one being that I get to work with some of the best and the brightest.

VAT 'too rushed and far-fetched'

THE proposed Value-Added Tax (VAT) is “too rushed and too far-fetched”, a leading food retailer said yesterday, adding that it will be a great expense to the Government and generate insufficient revenue.

Auto dealer to 'claw' way back into market

A well-known used car dealer yesterday said he was looking to “claw” his way back into the market, telling Tribune Business: “We’re hoping we can fill our niche like we did before”.

Western NP project readies open house

THE Venetian West, a 42-acre gated community in western New Providence, is set to host its first open house on December 7.
 The event will be held off off Windsor Field Road, in the area of Old Fort Bay Town Centre, just behind Solomon’s Fresh Market.

OVER 100 PERSONS ATTEND ENTREPRENEURIAL WORKSHOP

One hundred and five (105) persons have participated in an Entrepreneur Empowerment Workshop hosted by Mark A. Turnquest and The Small Business Resource Centre.

Bay Street off up to 70% with cruise 'no show'

By NATARIO McKENZIE

Texas energy billionaire targets Chub Cay purchase

A Texan billionaire who last week hit the headlines with a $6 billion energy deal has struck an ‘agreement in principle’ to purchase the Chub Cay resort development in the Berry Islands.

VAT 'fait accompli' without coalition

Value-Added Tax (VAT) would “likely be a fait accompli” without the private sector’s efforts through the Coalition for Responsible Taxation, its co-chair told Tribune Business.

Feb Point: 1/3 of owners carry 100% of costs

Less than one-third of February Point’s homeowners are “carrying 100 per cent” of the development’s security and maintenance costs, a situation that Tribune Business was told “cannot continue indefinitely”.

Bahamas to 'slip lower' in world tax rankings with VAT

The Bahamas will likely lose its longstanding stability in the world’s Paying Taxes rankings and “slip lower” than its current 45th position when Value-Added Tax (VAT) is introduced next year, a Tax Coalition co-chair says.

BEC's 170% fuel charge rise masks operating woe

The Bahamas Electricity Corporation’s (BEC) fuel charge increase was more than seven times’ that for fuel prices between 2010-2012, a leading environmental attorney suggesting this showed how the utility masked its “poor operating performance”.

'Second thoughts' over $1.1m claim against attorney

Investors are having “second thoughts” about pursuing a $1.1 million claim against a Bahamian attorney and his law firm in the courts, due to the expense and uncertain prospects of success.

PM meets investors over $100m athlete rehab plan

Prime Minister Perry Christie said he last week met with investors looking to develop a $100 million athlete recovery facility in the Berry Islands, and revealed the Government has also received an application to purchase Chub Cay.