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Customs targeting end-May on Nassau manual phase-out

BAHAMAS Customs is aiming to implement electronic duty payments before year’s end, its Comptroller telling Tribune Business that it planned to phase-out the manual submission of documents from importers and brokers by end-May.

Key Freeport shipping costs reduced 30%

Key shipping costs into Freeport have fallen by around 30 per cent, a leading businessman saying he wanted to reduce them further to where investors were “tripping over themselves” to do business in the city

Bahamas software developer's 'major Asia breakthrough'

A Bahamian software developer has made a “huge breakthrough” by winning its first Asian financial services client, and is already “pushing” for more.

Cable: Bandwidth expansion drives 20% data growth

Cable Bahamas says it has seen a 20 per cent increase in Internet data usage since it increased subscriber bandwidth speeds last month, an improvement it plans to further build on.

BEC to help 6,000 disconnected homes

The Bahamas Electricity Corporation (BEC) has disconnected more than 6,000 residential customers, but is now exploring ways to return those persons to the grid as early as end-May.

BISX accelerates investor education

The Bahamas International Securities Exchange (BISX) is pushing forward with efforts to broaden, and deepen, the pool of Bahamian capital markets investors.

Realtor expands via nine new staff

Mario Carey Realty (MCR) has expanded its staff to 22 with nine new appointments, having grown in five short years from just the founder and his secretary.

CHAMBER VOICE: The better way to run your business

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Sandyport 'revisits' 512-room hotel plan

The new investment and infrastructure “landscape” in the Bahamas has prompted Sandyport to revive long-held plans for a potential 512-room resort, and seek the right partners and development model.

Bahamas needs extra 200 air traffic controllers

AN extra 150-200 air traffic controllers are needed to provide proper air traffic service throughout The Bahamas, their union head yesterday expressing concern over whether there would be sufficient manpower to deal with the increased flights generated by Baha Mar.

Insurer: 25% of vehicles not covered

Bahamas First is aiming to stop issuing auto insurance ‘cover notes’ by September 1 in a bid to stop their “fraudulent use”, its chief executive estimating that 25 per cent of the vehicles on Bahamian streets are not properly insured.

Room rate rise 'counters' air arrivals drop

A “slight climb” in room rates enabled the Bahamian hotel industry to counter the 3.4 per cent decline in stopover arrivals during the 2013 first quarter, the Bahamas Hotel and Tourism Association’s (BHTA) president said yesterday.

Wells-led group eyes third casino licence

Ex-Cabinet Minister Tennyson Wells is heading the second Bahamian group seeking to obtain a casino licence from the Government, Tribune Business can reveal, with their sights set on the one attached to the South Ocean Resort.

Royal Bank unveils mortgage campaign

RBC Royal Bank this week launched two-product mortgage campaign designed to reinforce its position in the home lending market.

'Power hitters' assess $10m entertainment deal

A $10 million ‘upscale’ entertainment venue proposed for western New Providence has been attracting several “power hitters”, one of its principals telling Tribune Business yesterday that investors could certainly expect a “handsome” return on their capital.

'Vest' $71m dormant funds in Treasury

The $71 million in dormant accounts currently held by the Central Bank should instead be “vested” in the Public Treasury, a leading accountant said yesterday, thus aiding a government desperately needing every cent of revenue it can get.

Freeport needs a Kerzner for 'tourism revolution'

Freeport must attract a Sol Kerzner or Sarkis Izmirlian to “ completely revolutionise its tourism product”, a well-known businessman yesterday warning there was a “horrible disconnect” between visitors’ service expectations and the reality.

Auditors refute Moss's $5m NIB savings claim

The assertion by ex-National Insurance Board (NIB) chairman, Gregory Moss, that $5 million would be saved through hiring the administration vendor he wanted is not supported by any evidence, auditors have found.

BORCO revenues up 14% for Q1

The Bahamas Oil Refining Company (BORCO) produced a 14.3 per cent year-over-year revenue increase to $52.7 million for the 2013 first quarter, as it awaits the likely recovery of a $5 million insurance deductible.

Mango bites into 1,000 micro loans

TRANSFER Solutions Provider (TSP), the Mango Card operator, is undertaking an Inter-American Development Bank (IDB) funded project that aims to create 1,000 new micro loan clients from the ranks of Bahamian entrepreneurs.

Union accuses Sandals of year-long 'bad faith'

The TRADE Union Congress (TUC) president yesterday accused management at Sandals Royal Bahamian of refusing to negotiate an industrial agreement in good faith with the Bahamas Hotel, Maintenance & Allied Workers Union, for more than a year.

Mango operator poised to 'really take off'

TRANSFER Solutions Providers, the Mango Card operator, is currently finalising its SMS payment application, a senior company executive yesterday telling Tribune Business the company expected to “really take off” when the product launches next month.

AML eyes quarterly dividend payments

AML Foods is debating whether to move to quarterly dividend payments, its chairman said yesterday, adding that Freeport now accounted for 40 per cent or $60 million of its annual sales.

1,400 thefts drive vehicle tracker's business increase

A BAHAMIAN-owned vehicle tracking company has seen business increase significantly since its launch last summer, its principal telling Tribune Business yesterday that with three to four cars being stolen on New Providence daily, the company was seeking to expand its customer base even further.

Baha Mar bids beat$400m Bahamian goal

Work bidded out to Bahamian contractors has already exceeded the $400 million commitment Baha Mar made to the Government, a senior executive said yesterday, with building work “only half-way through”.