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Accountant warns on Credit bureau 'shock'

The introduction of a credit bureau may create a “shock” for both the banking system and consumers, a leading accountant believes, warning that it could result in many Bahamians becoming ineligible to borrow.

$500m-plus Bahamasair losses 'unacceptable'

The Government is looking to re-position Bahamasair as a carrier that brings tourists this nation, a Cabinet Minister describing its plus-$500 million losses since creation as “unacceptable”.

BISX urges: Drive the business to us

Fresh from the listing of its first SMART Fund, the Bahamas International Securities Exchange (BISX) yesterday urged local financial services practitioners to drive clients to it, adding: “The business comes here and lists somewhere else.”

Work begins on Genting resort

Site preparation and preliminary work is underway for the construction of Resorts World Bimini’s new marina hotel, the developer has announced. It has also mobilised personnel and equipment to support works for its new cruise pier.

Commission signs to key agreement

The Securities Commission of the Bahamas (the Commission) joined nine other regulators in Luxembourg last week to become a new signatory to the International Organisation of Securities Commissions’ (IOSCO) Multilateral Memorandum of Understanding (MMoU).

Sandals aids in coast clean-up

The Sandals Foundation collected 390 pounds of garbage in 39 bags, picked up by more than 49 volunteers, across New Providence and Great Exuma last Saturday during International Coastal Cleanup (ICC) Day 2013.

More than 200 receive financial certificates

More than 200 Bahamians received financial certifications and designations at the Bahamas Institute of Financial Services (BIFS) 37th annual awards ceremony.

Abaco stopovers 22% behind peak

Abaco’s 87,000 stopover visitors in 2012 were down 22 per cent from their pre-recession high, a senior tourism official yesterday revealing that negotiations were being held with a major US carrier to provide jet service beyond Miami and help fuel a turnaround.

Bahamas Waste 30% off profit forecast

Despite first-half profits that were 30 per cent below expectations, Bahamas Waste yesterday said it anticipates a “much better” final six months of 2013 after the Government expanded its residential garbage routes.

$6bn developers 'a little closer'

The developers behind a $6 billion resort project are “a little bit closer” to kickstarting formal government analysis of their proposal , with confirmation of the necessary financing still awaited by the Christie administration.

Cutting 1,000 companies to maximise VAT revenues

A top accountant yesterday backed the Government’s plans to slash mandatory Value-Added Tax (VAT) registrants by 1,000 firms, telling Tribune Business this would help to “maximize” revenues from the new tax.

$4.5m in assets caught in 2012 fraud complaints

The Royal Bahamas Police Force (RBPF) last year dealt with 450 fraud complaints involving $4.5 million worth of assets, it was revealed yesterday, as it called upon Bahamians to stop viewing this as a “victimless crime”.

Recession fears if VAT lowers consumer spend

A leading accountant yesterday warned that if the uncertainty surrounding Value Added Tax (VAT) sparked a decrease in consumer spending, it might push the Bahamas back into recession.

DPM: Abaco airport approvals 'vexing'

The Deputy Prime Minister yesterday reassured Abaconians that a completion date was “in sight” for the new Marsh Harbour International Airport, adding that his ministry had been unable to issue all the necessary project approvals due to technical concerns.

Ministry adviser slams 'ridiculous' Institute VAT study

A leading Ministry of Finance consultant yesterday blasted the Nassau Institute’s Value-Added Tax (VAT) study as “one of the most extreme, ridiculous and exaggerated” reports he had ever seen.

THE ART OF GRAPHIX: Shopping for the correct colour

You already know that colours are important, and how they trigger emotion, which have a real impact on a customer’s buying decision. This week we will discover how to adjust colours in Photoshop.

Medical school in GB pull-out

Ross University is set to close its Freeport-based medical school in early 2014, Tribune Business can reveal, dealing a fresh blow to Grand Bahama’s ailing economy just as several positive developments loom on the horizon.

Association eyes 'doubling' of Bay's nightlife economy

A newly-formed Association is aiming to “double the food and beverage, and nightlife, economy in downtown Nassau” within two years, having set itself the goal of increasing cruise passenger spending in this area by 31 per cent come year-end 2014.

US universities in stem cell rush

MIAMI, FL - The Government’s decision to enact stem cell legislation is proving to be a “game changer”, a Cabinet minister said yesterday, telling this newspaper that two more US universities had expressed interest in developing medical facilities in the Bahamas.

BREA chief slams 'three-year bar' on new members

The Bahamas Real Estate Association’s (BREA) president yesterday shot down suggestions by one of his predecessors that a ‘three-year moratorium’ on new realtor licenses be imposed, branding it as “not in the best interests of the Bahamas”.

'We will not let this rest'

Grand Bahama Port Authority (GBPA) licensees yesterday won another chapter in their battle with Customs over the Hawksbill Creek Agreement by the score of ‘2-1’, a leading QC warning: ‘We will not let this rest.”

Atlantis makes formal 'own energy' proposal

MIAMI, FL- THE Atlantis and One & Only Ocean Club resorts’ owner has presented the Government with a formal proposal for the properties to generate their own energy, a Cabinet Minister revealed yesterday, noting that high celectricity costs were making it “extremely difficult” for them to survive.

Call centre seeks to hire 100 via job fair

Island Outsourcers will this weekend host a job fair for more than 100 positions in their new call centre, which is set to begin operations in Grand Bahama in early November.

Realtor adds agent in the Abaco cays

Entrepreneur Sarah Sams has joined Coldwell Banker Lightbourn Realty as a sales agent in Elbow Cay and Lubber’s Quarters, Abaco.

Bahamas moves over 'human capital gaps'

The Minister of Financial Services yesterday said that language and cultural exposure was a ‘significant gap’ for Bahamian financial services professionals, telling Tribune Business his ministry was working with the industry to fill human capital deficiencies.