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THE Bahamian Brewery & Beverage Company’s founder, while describing domestic sales as “very encouraging”, charged that his five year-old company had to overcome “monopolistic trade infringement” in establishing itself in the local liquor market.
The consultancy business has grown tremendously over the past decade, with many companies place their growth and sustainability into the hands of management consultants.
THE Government’s will move to “beef up” enforcement of real property tax (RPT) collections once the existing amnesty programme finishes at end-June 2013, a Cabinet Minister saying it had generated interest among property owners.
More than 40 Brazilian fund managers and investors have attended a Bahamas Breakfast Briefing organised by the Bahamas Financial Service Board (BFSB) to coincide with last week’s Brasil Investment Summit (BIS) in Sao Paulo.
Bank of the Bahamas International yesterday said a planned $10 million increase in its capital base was designed to “catapult compliance” with international standards, while not diluting existing shareholders’ holdings.
More than 50 Bahamian jobs in the financial services industry are today said to have been lost because of Peter Nygard’s “attacks” on his Lyford Cay neighbour, hedge fund magnate Louis Bacon.
A former Water & Sewerage Corporation chairman yesterday said an all-Bahamian investor group was “very optimistic” it would win its bid to take over operations at the Windsor reverse osmosis plant and replace BISX-listed Consolidated Water.
A leading aviation executive last night said he was “not confident” the Bahamas would pass its upcoming audit by the US, warning that a downgrade to Category 2 status would inhibit the expansion plans of his and other local airlines.
Developers of the $200 million Palm Cay community have promised to pay the full 10 per cent Stamp Duty on all sales contracts signed before month’s end, saying the move could generate buyer savings of up to $40,000.
THE Bahamas Agricultural and Industrial Corporation (BAIC) is hoping to spur Bahamian entrepreneurship via the launch of its Business Empowerment series.
Bahamian regulators expect to complete their work on a National Financial Crisis Management Plan by late 2013 or early next year, the Central Bank governor telling Tribune Business they were “completely vested” in the extra resiliency this would create in the industry.
THE Government’s plan to exempt businesses with an annual turnover of $50,000 or less from paying Value Added Tax (VAT) will capture “99 per cent” of the turnover taking place in the Bahamian economy, a senior Ministry of Finance official believes, relieving small businesses from the compliance burden.
The Nassau Palm Hotel is “under contract” to be sold in a multi-million dollar deal set to close at end-May, Tribune Business can reveal, with its owners hoping it is ‘third time lucky’.
Atlantis’s top executive yesterday described the outlook for May and June as “very worrisome”, with the resort’s leisure and group traveller segments giving off mixed indicators
Next month’s Bahamas First Holdings annual general meeting (AGM) will likely determine whether the insurance group “abandons altogether” plans to list its shares on the Bahamas International Securities Exchange (BISX), Tribune Business was told yesterday.
A prominent Bahamian accountant yesterday urged the Government to reconsider its proposal to reduce all Business Licence fees to a flat $100 rate, arguing that such a move would “fly in the face” of achieving equality in taxation policy.
A BAHAMIAN boat/yacht broker has seen an 80 per cent sales upswing for 2013 to-date, telling Tribune Business yesterday that most of the boats sold were over the $100,000 threshold.
Why should businesses pay attention to their graphic designer? In a market crowded with dozens of competitors all selling the same product or service, the only way to stand out is by strong branding and image.
Private sector representatives should sit on the Immigration and Labour Boards, a well-known businessman suggested yesterday, warning that many companies were beginning to “resent” being forced to hire understudies as a condition of work permit approvals.
Tambearly School has become the first New Providence-based school to install “significant” solar power panels that provide a collective 39 kilowatt (Kw) output.
THE Government’s proposed Value Added Tax (VAT) is expected to generate an entirely new revenue stream for private sector accountants, the Bahamas Institute of Chartered Accountants (BICA) president yesterday telling Tribune Business the reforms may create jobs for Bahamian tax specialists.
Slashing Customs Duty rates below 20 per cent when Value Added Tax (VAT) is introduced is “not a far stretch”, a senior Ministry of Finance official said yesterday, adding that shifting the tax burden services should reduce the levy on imported goods.
Colina Insurance executives sought to inspire the next generation of Bahamian professionals by discussing their career journeys before students during the College of the Bahamas (COB) recent Business Week.
Fashion tycoon Peter Nygard is planning to invest between $25-$30 million in constructing a stem cell research-focused medical facility at his Lyford Cay home, Tribune Business can reveal, a project that could employ between 100-125 Bahamians in the construction phase.
Bahamas First has seen a 20 percentage point decline in comprehensive insurance policies’ share of its auto book since the recession began, with total Bahamian motor claims increasing by 18.5 per cent in 2012. ==