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Value-Added Tax’s (VAT) implementation will have an impact on small Family Island economies that is ‘three times’ as severe in comparison to New Providence because they lack critical mass, a top private sector executive said yesterday.
TOURISM officials said yesterday that hosting the NBA champion Miami Heat for their pre-season training camp at Atlantis will boost this country’s reputation as “the destination” for sports tourism in the region.
Even though everyone wants a faster PC or laptop, computers age and naturally slows down.
The Airport Gateway Project is 99 per cent complete, the Minister of Works said yesterday, with more than $69 million of its $71 million budget having been spent to date.
Officials in Grand Bahama visited and toured Deep Water Cay (DWC) recently, as the well-known Bone Fishing Resort in the east welcomed a new management team to the island.
Comfort Suites Paradise Island has been recognised with the 2013 TripAdvisor Certificate of Excellence, which rewards the top performing businesses on TripAdvisor.
Eleven College of the Bahamas (COB) who attended last year’s Nassau Conference gained invaluable experience this summer by completing internships with nine leading banks and trust companies in The Bahamas.
An associate at Scotiabank Global Banking and Markets, Shemika Miller, has passed the Series 7 Exam in Fort Lauderdale after studying with the Nassau-based Securities Training Institute (STI).
A Bahamian cultural extravaganza was the highlight of a weekend Atlanta reception hosted by the Ministry of Tourism and the Grand Bahama Tourism Board to support the upcoming launch of Delta’s direct service between the city and Grand Bahama, beginning on December 19.
A former Bahamas Bar Association president yesterday predicted that Value-Added Tax (VAT) would “boost” the legal profession, and said: “I don’t have any trepidation of doom and gloom.”
The Bahamas Telecommunications Company (BTC) is projecting that mobile data demand will “double within the next year”, as it prepares to invest $17 million this financial year to pave the way for its latest cellular technology.
The private sector’s Tax Reform Committee was yesterday said by one of its co-chairs to have gained “critical mass”, its main concern being that the Government was “just too fast” in moving ahead with Value-Added Tax (VAT) implementation.
Finance Corporation of the Bahamas (FINCO) yesterday disclosed that despite non-performing mortgage loans totalling $107 million at end-July, as a percentage of total credit this was almost five percentage points below the industry average.
One of my clients complained to me that his office administrator felt my insistence on them following up with their clients, who had made appointments but not kept them, was making him seem like a beggar.
A leading architect yesterday said the protracted wait for building permits was having a “far-reaching effect” on the Bahamian economy, with Miami-Dade County processing “ten times’” the number of approvals local regulators are getting through.
A timber harvester expects to begin log hauling this week, its principal telling Tribune Business yesterday that the company was looking to tap into the ‘niche’ market for high-end wood products and sell wood flooring at the outset.
RBC Royal Bank has appointed Alicia Bain-Thompson and Christina Kenny-Sands, both accredited Personal Financial Planners (PFPs), to lead its financial planning practice in the Bahamas.
Bahamian-owned airlines yesterday warned that some carriers will not survive increased taxes and a move to Lynden Pindling International Airport’s (LPIA) new domestic terminal, with their rental/lease rates set to increase by up to 52 per cent.
“Market vagaries” cost the Bahamas a $14 million poultry production investment, it has been revealed, with uncertainty over tariffs and standards placing local farmers at a competitive disadvantage.
A Cabinet Minister yesterday said he was looking to protect the Bahamian manufacturing sector with “a full package” of reforms, warning that protectionist tariffs did not “guarantee survival”.
A leading aviation executive said yesterday his airline was looking to fill at least 25 positions via a job fair and set the ground work for further expansion internationally, adding: “We’re not just going to depend on the local market anymore”.
A Bahamas-based financier’s legal action has been blasted for having “little merit”, the Court of Appeal finding it was a ‘last ditch’ bid to seize more than $8 million generated by his fraudulent activities.
DIRECT airlift between the Bahamas and Cuba will significantly boost this nation’s position as a regional “multi-destination” hub, and facilitate increased trade and commerce the two countries, a business executive said yesterday.
An Opposition MP yesterday warned that the introduction of Value-Added Tax (VAT) would not help the Bahamas generate the 5.5 per cent real GDP growth necessary to cut then unemployment rate 50 per cent.
CHOICE, what a powerful word that is. Here are five ways to sink or swim with your business ship.