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THE Government is considering a proposal for Cat Island that could potentially create hundreds of new jobs, Prime Minister Perry Christie said yesterday.
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The Bahamas’ current account deficit widened by “one-third” to $1.46 billion in 2012, due to the fuel import bill.
The Government’s plan to eliminate import duties on solar panels and associated inverters was yesterday described as “long overdue”, sending the signal it was serious about facilitating renewable energy and reducing the Bahamas’ reliance on fossil fuels.
BUILDING permit fee increases could adversely impact the level of construction activity, going forward the head of the Bahamian Contractors Association (BCA) warned yesterday, arguing that the sector was not able to bear any additional costs at this time Come July 1, the Government intends to increase building permit fees and introduce new fees, but Godfrey Forbes said the Bahamian construction sector was only just beginning to rebound and that he did not endorse any additional burdens on the consumer.
PRIME Minister Perry Christie said yesterday that the Government has allocated $1 million for the development of a week-long Bahamian Carnival or ‘Mardi Gras-style festival’ that will kick off in 2015.
THE Government was yesterday urged to create a sustainable development plan for the Bahamian agricultural sector, after stating its planned agriculture school could “dent” the Bahamas’ $500-$600 million food import bill by 15 per cent.
A tobacco retailer yesterday expressed concern that the Government’s plan to impose a ‘per stick’ duty rate on cigarettes and cigarillos could cause persons to bring them in “under the table”.
Creditors of the long-defunct Gulf Union Bank (Bahamas) could receive “anywhere from 5-15 per cent extra” in dividend distributions, its liquidator said yesterday, as a result of a recent Supreme Court ruling.
The all-important stopovers market has seen its share of total visitors to the Bahamas drop by seven percentage points since the financial crisis, reaching the point where it accounts for just one out of every four tourists.
Ninety per cent of Bahamian small and medium-sized businesses will likely miss out on the financing opportunities offered by BISX’s proposed commercial paper market due to “indiscipline”, a leading consultant warned yesterday.
The lengthy time taken to complete corporate liquidations “reflects badly on the Bahamas as a jurisdiction”, a senior attorney warned yesterday, adding that a “significant” court ruling should help speed up insolvency processes.
The Government-sponsored venture capital fund is preparing six start-up prospects for approval at its June 13 Board meeting, as it switches its focus “away from New Providence”.
TOURISM Minister Obie Wilchcombe said yesterday that his Ministry was working on attracting more top sporting and entertainment events to the Bahamas, adding that the success of recent events such as the Pure-Silk Bahamas Ladies Professional Golf (LPGA) tournament had set the platform for growth.
Every month I am inundated with requests for sponsorships, both personally and for my business. It is the revenue model for many non-profit organisations, who rely on the goodwill of sponsors to make their event possible.
Bahamian businesses yesterday said they were “very concerned” that the alleged sabotage at the Bahamas Electricity Corporation’s (BEC) Clifton Pier plant could mean increased electricity costs and power disruptions in the summer months.
The Extreme Kayak Fishing Tournament, ‘May Madness’, which recently drew 100-plus participants to its latest event at Pompano Beach in south Florida, is expected to move to the Bahamas in April 2014.
The Bahamas Branch of the Chartered Institute of Arbitrators (CIArb) has named Dame Joan Sawyer as its official patron.
Commonwealth Bank’s president yesterday said it hdad “fallen on its feet” through being able to re-locate its Oakes Field branch to the former Royal Bank of Canada (RBC) site on JFK Drive, a building it expects to occupy for four months.
THE list of potential operators for the Grand Lucayan’s Treasure Bay casino has grown to “six or seven”, while one of the two interested Bahamian groups was also mulling the construction of another gaming complex nearby.
Dr Conville Brown has been trying to raise $10 million from Bahamian investors to expand his Centreville-based The Medical Pavilion Bahamas, Tribune Business can reveal, with stem cell and surgical therapies included in the plans.
The Trade Commission will submit a “comprehensive paper” on the positions the Bahamas should take over World Trade Organisation (WTO) accession before end-June, its chairman said yesterday.
A return to pre-2010 import duty rates would likely boost new car sales by “about 30 per cent”, dealers said yesterday, while calling on the Government to give them up to six months’ warning of planned import tariff changes.
ATLANTIS’S top executive yesterday said the wekend’s Pure Silk-Bahamas Ladies Professional Golf Assocation (LPGA) tournament generated some 3,000 room nights for the resort.
ATLANTIS is looking forward to a “very strong” July and August, although its president and managing director told Tribune Business yesterday that the resort might 2014 down 10 per cent year-over-year on group business.