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A Model I Inter-governmental Agreement for reporting under the US Foreign Account Tax Compliance Act (FATCA) provides the “greatest level” of preferential treatment in terms of exemptions for key Bahamian products, Financial Services Pinder Ryan Pinder said yesterday, noting that Model I should result in lower costs and reporting burdens to Bahamian Foreign Financial Institutions (FFIs).
THE Balmoral’s principal said yesterday that he expected to break ground on a eight unit commercial office space development in four weeks, telling Tribune Business that to-date five of the units had been sold.
BISX-listed Consolidated Water said yesterday that it had gone “over and above” in providing the Water & Sewerage Corporation with water volumes which were 20 per cent more than what its contract required.
THE Government's second offer to the World Trade Organisation (WTO) provides for a 40 per cent reduction in the average peak tariff on goods, said Financial Services Minister Ryan Pinder, who noted that protective tariffs were maintained in an effort to safeguard the production of local goods.
INCENTIVE planners responsible for bringing almost $1 billion in business to the Bahamas each year were hosted at Sandals Royal Bahamian last week as part of the Nassau/Paradise Island Promotion Board’s (NPIPB) most recent incentive planners FAM (familiarisation) trip.
THE French Leave, Harbour Village’s “unique selling proposition,” has sparked significant buyer interest months ahead of the launch of its actual marketing campaign, Eddie Lauth, CEO of Shaner Bahamas describing the development as the ‘antithesis’ of mega resort projects.
THE dual drive through/walk up window concept at Wendy’s (Bahamas) on Carmichael Road has worked so well that it could be exported around the world.
Environmental attorney and consultant Romauld ‘Romi’ Ferreira took to the airwaves recently to express concern over what he called “out of date” thinking by Prime Minister Perry Christie who, he said, called concerns with the environment “foolishness.”
THE BAHAMAS Electricity Corporation’s (BEC) executive chairman Leslie Miller says consumers should see a ‘noticeable decrease’ in their electricity bills come September, telling The Tribune the electricity provider’s Clifton power station was running at “full speed”.
THE Sunwing Travel Group is gearing up in anticipation of a busy Christmas season with the revamped Reef Village on schedule to open under its Memories Hotel & Resorts brand late this Fall, executives telling this newspaper that the resort would inject hundreds of millions of dollars into the Grand Bahama economy over the next few years.
THE Bahamas Electricity Corporation (BEC) will have “no problem at all” meeting electricity demand once the Baha Mar mega resort comes on stream, its executive chairman telling The Tribune that it was “not probable or possible” for any firm to reduce the cost of energy in the country by 50-60 per cent.
THE BISX-listed Consolidated Water Company Ltd (CWCO) is reporting improved operating results and for the 2013 second quarter and first half of 2013, with total revenues for the quarter increasing two per cent to approximately $16.6 million.
MARCO’S Pizza (Bahamas) will create 55 new jobs when it opens its first store in Freeport early next week, the franchise’s operator revealing that as many as eight stores are envisaged for The Bahamas.
THE Bahamas Electricity Corporation (BEC) would see savings of between $85-$100 million if a new power plant was constructed in the next 30 months according to its executive chairman Leslie Miller, who touted the corporation’s own power generation proposal as superior to any plan presented to the Government.
The Bahamian international financial services industry is 72 times larger than this country’s gross domestic product (GDP), an International Monetary Fund (IMF) study has estimated.
Bahamian water bills could be slashed by 25 per cent through the cheaper electricity costs proposed by a $700 million power plant project.
TOURISM Minister Obie Wilchcombe said that training for gaming inspectors would begin in a few weeks as the Government moves to ensure that the Gaming Board is “up to speed” before the Gaming Act 2013 and associated regulations are passed.
MANAGEMENT at the historic Bimini Big Game Club Resort & Marina continue to report a healthy 2013 with a 12 per cent season increase over 2012 based on room occupancy and food and beverage earnings.
The Deputy Prime Minister has rejected a proposal that would have seen homeowners at the controversial Oceania Heights project lumbered with a $500,000 debt repayment obligation.
BAHA MAR executives said yesterday that under its Heads of Agreement with the Government the latter has ‘no right’ to ‘exclude, discount or modify’ any of the infrastructure cost included in the company’s determination, telling Tribune Business that they anticipated that the Government would honour its agreement.
The Government is planning to “revive” a three Bill-strong legislative package that would create a Bahamian Land registry, a Cabinet Minister has confirmed.
THREE companies have been shortlisted in the Government’s search for an operator to manage Grand Lucayan’s casino, Tourism Minister Obie Wilchcombe revealed yesterday, adding that an announcement on the new operator could come in two to three weeks.
A COMPANY with a licence to harvest timber in The Bahamas is set to ‘kick-start’ a small scale operation in Abaco at the end of the month, its principal telling Tribune Business that the company was looking to produce 20,000 feet of lumber before launching into large scale production.
BAHAMAS Striping is looking to create 20 new jobs initially as it moves into airport maintenance with its subsidiary Airport Maintenance Services (APS).
The Bahamas International Securities Exchange (BISX) has announced that Fidelity Bank (Bahamas) Limited has successfully completed the listing process for their Series E Redeemable 6 per cent Fixed Rate Notes due 2018 (the “Notes”) which are now listed on the Exchange under the symbol FBB18.