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The Grand Bahama Port Authority (GBPA) and Grand Bahama Development Company (DEVCO) joined government officials to promote the island at the 17th annual National Association of Black Hotel Owners Operators and Developers (NABHOOD) conference.
A 22-strong fleet pulled into Sandals’ Emerald Bay Marina last Tuesday for a reception held in conjunction with the Ministry of Tourism (MOT).
An investor group headed by Jamie Dingman has leased 25 per cent of the units in a major Bay Street shopping plaza, Tribune Business can reveal, with plans to create a restaurant destination unmatched “except for Marina Village”.
Downtown Nassau needs “at least 20 more restaurants” to transform itself into a nighttime destination that will once again attract both locals and tourists, a senior private sector executive said yesterday.
A well-known QC yesterday confirmed he has been instructed to launch Judicial Review proceedings against the Government and developers of the $5 million Blackbeard’s Cay project, and accused Cabinet Ministers of reneging on assurances not to approve the development.
A $34.2 million claim against UBS (Bahamas), which has connections to Bernard Madoff’s infamous multi-billion dollar Ponzi scheme, was yesterday reinstated by the Court of Appeal.
FAMILY Island hotels have seen a 4 per cent increase in average occupancy levels year-over-year, the Out Island Promotion Board’s president said yesterday, adding that room nights sold had risen by 2 per cent during the same period.
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The Grand Bahama Shipyard (GBS) is using funds raised from its annual fishing tournament to help schools in the western parts of Grand Bahama.
TOURISM Minister Obie Wilchcombe said yesterday that he was not alarmed by the drop-off in 2013 first-half air arrivals, and pledged that 2014 would be a “banner year” for airlift.
An investor group headed by Jamie Dingman has leased 25 per cent of the units in a major Bay Street shopping plaza, Tribune Business can reveal, with plans to create a restaurant destination unmatched “except for Marina Village”.
Regulators yesterday shot down as “anti-competitive” a Bahamas Telecommunications Company (BTC) proposal that customers be charged for switching to rival operators.
A top economist yesterday reiterated a decade-old call for the Bahamas to introduce a Sales Tax, warning the Government that its Value-Added Tax (VAT) plans were a mistake because “simplicity is key” to reform.
A bank chief executive has warned that Government legislation “could have a negative impact on Bahamian access to home ownership”, as it completely alters the risk associated with mortgage lending.
Value-Added Tax (VAT) will be charged on pre-existing business contracts from the July 1, 2014, implementation date onwards, a top government official confirmed yesterday.
Cable Bahamas has not been leaving tonight’s shareholder vote on whether to approve its $100 million Florida expansion to chance, Tribune Business can reveal, with senior management calling institutional investors to ensure their support.
The Bahamas Judo Federation took a 27-person team to the US Junior Open in Fort Lauderdale for a week.
THE Government is being called upon to release some 28,000 acres of land to the Bahamian people, the head of a construction and energy management firm telling Tribune Business yesterday that this could reduce housing costs by up to 50 per cent.
TOP executives from a North Carolina-based sustainable energy company are planning to meet with Government officials for discussions on a “transformative” power project for the Bahamas. PowerSecure Solar aims to discuss reduced electricity costs and reliability in supply in meetings with government and private sector leaders this week in the Bahamas.
The Arawak Port Development Company (APD) has decided to keep the $15 million oversubscription from its recently-completed preference share offering, a top investment banker yesterday saying he “doubted” whether its low 5.5 per cent interest rate could be matched.
A Bahamian financial services provider yesterday said it was positioning itself “at the cutting edge” through plans to open offices in Dubai and China within the next year, establishing “gateways” to the fastest-growing private wealth markets.
The Government has made no decision on possible changes to key policies, with the Bahamas Real Estate Association’s (BREA) president saying yesterday: “We’re all singing from the same hymn book.”
Investment projects are being denied approval because they conflict with the Government’s National Investment Policy, a private sector group has said, with investors also frustrated by “communication breakdowns” between different agencies.
There is “no 100 per cent escape” from the proposed Value-Added Tax (VAT), a senior official has warned, while acknowledging the private sector must realise the Government is “serious” about collecting all due revenues.
THE Government was yesterday urged to help push small and medium-sized businesses (SMEs) over the threshold that would force them to register to pay Value-Added Tax, a leading consultant telling this newspaper that failing to do this would negatively impact national development.