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Auto dealers 'ecstatic' over low sulphur fuel

Bahamian auto dealers said yesterday they were “ecstatic” that ultra low sulphur diesel (ULSD) was finally being offered in this market, one stating that this nation had been running “first world vehicles on third world fuel” for far too long.

Speed Week targeting 'break even' for 2013

Bahamas Speed Week Revival investors say this year’s event should inject $400,000-$500,000 into the economy and generate 700-800 room nights, with its president revealing they are hoping to “break even after not taking a salary in three years”.

Gov'ts medium term VAT focus 'a farce'

The Government’s focus on Value-Added Tax’s (VAT) ‘medium-term benefits’ was yesterday described as “a farce”, with the private sector and consumers more concerned with what happens on July 1, 2014.

How to combat 'kickbacks': Do nothing and let pot boil

Let me tread very carefully here so as not to offend anyone; any company, government or culture etc....

Fidelity boosts online banking security defence

Fidelity Bank (Bahamas) yesterday announced that it is introducing more robust security features to protect online banking clients against the rising trend of fraud.

BFSB awards panel holds first meeting

The Bahamas Financial Services Board’s (BFSB) Blue Ribbon Panel, appointed for this year’s Industry Excellence Awards, has held its first meeting to consider the nominations.

Realtor boosts its Nassau sales team

Coldwell Banker Lightbourn Realty has boosted its Nassau sales team by two, its president has announced.

Schooner Bay planners win top architect award

Schooner Bay Village’s town planners and architects, DPZ & Co, have been awarded an Addison Mizner Medal for excellence in Urbanism through their works in classical and traditional architecture.

Bimini developer touts $600k local supply spend

Resorts World Bimini (RWB) says it has this year to-date paid more than $600,000 to vendors on the island for goods and services, ranging from entertainment to housing, food and beverage, transportation and event coordination.

Broker 'wished $11m fraud to succeed'

A Bahamian broker/dealer allegedly “wished to bring about and make succeed” an $11 million stock fraud, US regulators have claimed.

$45m PHA offering in Gov't approval delay

The $45 million Public Hospitals Authority (PHA) bond issue has been postponed for one week to allow time for government approval, Tribune Business can reveal.

Esso seeks competitive edge through new fuel

ESSO (Bahamas) is looking to establish a competitive edge over its wholesale rivals being the first to offer ultra-low sulphur diesel fuel in this market, its country manager stating this was the first of several “new and innovative” offerings it would unveil.

BEC profit margins 'wiped out' in 2010

The Bahamas Electricity Corporation’s (BEC) profit margins had been wiped out as far back as 2010, the Inter-American Development Bank (IDB) has revealed.

IDB study shows VAT 'positive' for jobs, growth

An Inter-American Development Bank (IDB) study has shown that Value-Added Tax (VAT) will have a “positive” impact on the Bahamian economy’s growth and employment prospects in the medium-term, a senior official said last night.

John Watlings rum 'bombarded' with worldwide offers

John Watlings Distillery is being “bombarded” by international distributors wanting to sell its high-end rum brand overseas, with its principals telling Tribune Business that per head visitor spend is “significantly” ahead of projections.

Doctors Hospital wins case that sparked procedure review

A nurse whose firing triggered an “organization-wide review of procedures” by BISX-listed Doctors Hospital has seen the Court of Appeal back the rejection of her wrongful dismissal claim.

New $83.5m LPIA terminal to be Caribbean hub

The new $83.5 million terminal, which marks the final stage of Lynden Pindling International Airport’s (LPIA) redevelopment, will serve as the “connecting hub” for access to the Caribbean, the Nassau Airport Development Company’s chief executive has confirmed.

Exuma urged to increase boater revenue five-fold

Potential revenues from visiting boaters remain relatively “untapped” by the Exuma mainland, a former Chamber of Commerce president on the island estimating that “five times” the current intake could be realised if the segment was served properly.

Stem cell institute stages info seminar

The Okyanos Heart Institute will tomorrow host an educational seminar on the proposed cardiac stem cell therapy that it plans to use in treating patients with coronary heart disease.

PM urges bank over Out Island expansion

The Prime Minister has urged Bank of the Bahamas International (BOB) to consider further expansion into the Family Islands in the near future. He made this request while speaking at the bank’s 25th anniversary reception at the Balmoral Club on Friday evening.

'Frustrated' waste energy group offers $3.7bn boost

A waste-to-energy developer proposing a solution that could give the Bahamas a $3.7 billion return over 10 years yesterday said separating the Tonique Williams-Darling Highway landfill from BEC reform was “the wrong way to go”.

Concerns over Polymers trade benefit 'erosion'

The Bahamas has expressed concern over “the erosion of US trade preferences” for its polystyrene industry, largely Polymers International, despite

Ex-February Point staff seek answers over $380k 'owing'

Terminated employees yesterday blasted Exuma’s February Point development for keeping them in the dark over when they would be paid an estimated $380,000 in due severance pay and salaries, as the island’s MP admitted he was “very concerned”.

Missing property taxes over $1/2bn

Almost $95 million in real property taxes went uncollected during the 2010-2011 fiscal year, taking the total sum outstanding to what the Auditor-General described as an “exorbitant” $541.886 million.

Tipping fees cover just 1/6th of landfill costs

Tipping fees at the Tonique Williams-Darling Highway landfill failed to cover even one-sixth of the facility’s $6.491 million operating costs during the 2010-2011 fiscal year, it has been revealed.