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The threat from other FATCA-style tax information sharing mechanisms is “not as imminent as people think”, the Minister of Financial Services said yesterday.
PRELIMINARY figures show passenger traffic was down at the Lynden Pindling International Airport (LPIA) over the US Memorial Day Weekend, with international arrivals down 11 per cent over the same period last year.
Royal Bank of Canada (RBC) has part-sponsored the production of ‘Womanish Ways, Freedom, Human Rights and Democracy’, a documentary about the women’s suffrage movement in the Bahamas.
The Sandals Foundation is backing the C-FISH Fund as one of its commitment to the ‘Caribbean Challenge’, an initiative that calls for protected zones along the region’s coasts by 2020.
“Overzealous” officials have prematurely released a bid document for Family Island alternative energy projects, which reveals the Government aims to generate almost 30 per cent of their power needs from renewables by 2015.
A BAHAMAS-based cloud computing company has seen increased interest in its services from various sectors, telling Tribune Business that most firms would use the type of solutions it offered within two to three years.
Bahamian realtors have their “fingers crossed” that the Government will renew the first-time buyer Stamp Duty exemption for transactions worth $500,000 or less, with the issue now before the Christie Cabinet.
Achieving EBITDA margins greater than 30 per cent is vital to the Bahamas Telecommunications Company (BTC) maintaining annual capital expenditure at around $40 million, a senior executive has confirmed
A business partner of Freeport-based investor, Preben Olesen, is one of two Grand Bahama residents charged by the US federal authorities with operating “a fraudulent offshore tax strategy”.
The sale of City Markets’ leasehold interests has finally been completed, but its principal warned that “less than $2 million” will be left for the remaining creditors - including his family and former staff - to fight over.
THE BAHAMAS Commercial Fishers Alliance (BCFA) president believes the creation of a registry is key to modernising the Fisheries Act, telling Tribune Business he supports increased regulation for the industry..
Our last few columns have taken us deep into exploring, and understanding, the lack of efficiency that exists in the Bahamian workforce and the challenges that this presents on a macroeconomic scale.
Commonwealth Bank is moving operations at is Oakes Field branch to a temporary location next month, following last week’s fire damage.
The developers behind Eleuthera’s French Leave Resort & Marina have spent “about half” of the $7-$8 million first phase budget, with flint rock having put the construction schedule three months behind.
By NATARIO McKENZIE
The US Justice Department will not challenge a Court of Appeal verdict over more than $8 million that once belonged to convicted ‘con man’, Derek Guise Turner, allowing Loretta Butler-Turner’s family and other defrauded Bahamian victims to determine how this sum is to be distributed.
The heavy flooding in New Providence will “cost the insurance industry a pretty penny”, Tribune Business was told yesterday, with underwriters reporting initial claims volumes of “70-75” and “a few dozen”.
Doctors Hospital is planning to invest $4.2 million in capital improvements to its business during its 2014 financial year, the previous year’s bottom line having been impacted by a $1.135 million ‘start-up’ loss.
Real estate developers will have “a really difficult time” selling their developments without in-house financing, The Balmoral’s principal told Tribune Business, adding that he was set to launch another $2-$3 million phase within four months.
A top investment banker yesterday said he saw “no reason” to change his prediction that the Bahamian stock market will end 2013 up 10 per cent, following the release of data showing its rebound had extended into an eighth month.
MAJOR resorts on New Providence are looking to capitalise on a “busy” US Memorial Day weekend, one resort manager telling Tribune Business yesterday that occupancy levels would be in the mid-80 per cent range.
‘The Financial Voice’ (TFV) forum will conduct its annual examination of the Government’s 2013-2014 Budget and other issues relating to the Bahamas’ fiscal health on Thursday, May 30.
THE BAHAMAS Telecommunications Company (BTC) plans to open 10 new retail franchise locations in New Providence and Grand Bahama over the next four months, it said yesterday, with another 20 set to be launched within an 18-month period.
By NEIL HARTNELL
By NEIL HARTNELL