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Renewed calls for Bimini EIA

ENVIRONMENTAL activists yesterday reiterated calls for the Environmental Impact Assessment (EIA) for Genting’s multi-million dollar resort and cruise ship terminal investment on Bimini to be published, saying the island was in a “precarious state”.

Satellite Bahamas Moves to dismiss DIRECTV lawsuit

Satellite Bahamas and its principals, the Garraways, are urging the Florida courts to dismiss a lawsuit alleging that they ‘pirated’ DIRECTV’s signals on legal technicalities, Tribune Business can reveal.

Baha Mar 'contacts' over 10,000 recruits

Baha Mar yesterday said it was “more than satisfied” it will find the 5,000-plus full-time staff it needs from the Bahamian workforce, having already ‘contacted’ more than 10,500 persons in its expanding recruitment drive.

First female chief aims to 'reinvent' Development Bank

The Bahamas Development Bank (BDB) has appointed attorney Arinthia Komolafe as its first female managing director, effective from September 16, 2013.

LETTER TO EDITOR: Manufacturing a real incentive to hire 10,000

I am responding to an article that was published in The Tribune’s Business section on Monday, September 16, 2013. It was written by Mr Neil Hartnell and included points of interest from a prominent accountant, Raymond Winder, on ways of cutting our country’s deficit.

BISX confirms its first SMART Fund

The Bahamas International Securities Exchange (BISX) has confirmed its first SMART Fund listing in the shape of the Sapphire Venture Fund, which will now appear on the exchange’s mutual fund tier.

BFSB subvention cut's 'ideal opportunity'

Despite a cut in its government subvention, the Bahamas Financial Services Board’s (BFSB) chief executive believes this has created an “ideal opportunity” to work with the Government on maximising resources.

Airport advertiser in Grand Bahama expansion

Bahamas Airport Advertising has expanded its reach to Grand Bahama International Airport, signing up a Freeport-based PR agency to act as its representative on the island.

Oceania Heights settle offer 'absolute nuts'

Disgruntled homeowners have rejected a Bahamian attorney’s offer to settle the long-running Oceania Heights dispute, their president describing it as “absolutely nuts” on the grounds that it seeks to dump $2.76 million in liabilities on them.

BEC's $250m bond deferred to stop reform 'handicap'

A $250 million bond to refinance the Bahamas Electricity Corporation (BEC) has been postponed to avoid “handicapping” the energy sector reform process, Tribune Business can reveal.

BPC: Oil royalties '30% higher' than Gulf of Mexico

The Bahamas Petroleum Company’s (BPC) royalty rates are “30 per cent higher” than those paid by Gulf of Mexico oil drillers, its chief executive disclosing that these terms were also “more onerous” than what is specified in the existing Petroleum Act.

Gov't cost Freeport $1bn LNG investment

Freeport lost a $1 billion investment “solely” because the Government refused to approve a Business Licence, a leading QC calling on the Government to “stop tying a noose around the Grand Bahama Port Authority’s neck”.

Water provider alters model over 'killer utilities'

A leading water manufacturer says it had been forced to change its business model to help lower its high operating expenses, telling this newspaper that “utilities costs have killed us for the past four to five years”.

'Serious concerns' on maximising Bahamian jobs at Baha Mar

There are “serious concerns” that this nation will be unable to maximise Bahamian employment at Baha Mar and Grand Bahama’s Reef Village due to ‘skills gaps’ and a lack of qualified workers, the Inter-American Development Bank (IDB) has warned.

Bimini developer: we did submit EIA

RESORTS World Bimini has confirmed it has submitted an Environmental Impact Assessment (EIA) for its marina hotel and cruise ship dock development, a spokesperson telling Tribune Business that approvals relating to the EIA had been granted based on certain conditions.

Poultry farmer faces tough restaurant sell

AN Abaco based poultry producer says that roughly 70 per cent of its product is being gobbled up by Bahamian food retailers, but it is having a tougher time breaking into the restaurant market.

Tax Coalition not out to 'kill VAT'

The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC)proposed tax reform committee is aiming to bring “more leadership to the debate”, its chairman emphasising: “This isn’t a Coalition to kill VAT.”

The consequences of VAT are real

Ishmael Lightbourne, consultant to the Ministry of Finance, in an ad hominem attack on the Nassau Institute describes the research report, ‘Consequences of the Value Added Tax for Bahamas’, as being “extreme, ridiculous, exaggerated and inaccurate”, and is being read because it “bashes” the Government.

Cable completes two US purchases

Cable Bahamas has announced that following the successful completion of its $135 million senior credit facility refinancing, it complated the acquisitions of Marco Island Cable and NuVu.

Insurers fearing VAT 'recipe for disaster'

The Government’s proposal to levy 15 per cent Value-Added Tax (VAT) on property and casualty insurance premiums was yesterday described as “a recipe for disaster”, although the Government has indicated a “willingness” to listen to industry concerns.

Private sector in Tax Coalition talks

The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) is holding talks with industry associations over the formation of a ‘Tax Coalition’, Tribune Business can reveal, as a tool “to figure out what commerce needs to do” over Value-Added Tax (VAT).

BISX: $6bn market cap if Gov't debt listed

The listing of $3.467 billion in long-term government debt would represent “the single biggest event in the history of the Bahamas International Securities Exchange”, its chief executive said yesterday, more than doubling its market capitalisation to over $6 billion.

Regulators 'lax' over listed firms info disclosures

The Securities Commission’s top executive yesterday admitted that regulators had been “lax” in ensuring public companies met their ‘information disclosure’ obligations, and said: “It’s something we have to tighten up on.”

CHAMBER VOICE: Sound methods for promotion

Everyone in life looks for promotion, advancement and acceleration in whatever activities they are engaged.

Abaco business owners 'opened up' to the IRS

The Abaco Chamber of Commerce is aiming to take the lead in informing residents with dual US citizenships about their obligations to the Internal Revenue Service (IRS) under the Foreign Account Tax Compliance Act (FATCA).