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THE INVESTMENTS Minister has confirmed he received a proposal for an ambitious $1.5 billion food production project on Andros, aimed at making the Bahamas self-sufficient.
BUSINESSMAN Sandy Schaefer said around $10 million has been invested to re-open both of his former Robin Hood outlets, a development he said will create 250 jobs.
Rival Bay Street retailers have expressed concern that the John Bull Group of Companies will be acting as the master leasor of all retail space at the $2.6 billion Baha Mar project.
INVESTMENTS Minister Khaalis Rolle says plans to make the recent Bahamas International Investment & Business Forum an annual or biennial eventare being considered, telling Tribune Business: “We want to brand the Bahamas from an investment perspective.”
The Certified Financial Analysts (CFA) Society of the Bahamas (CFASB) has met with Securities Commission of the Bahamas (SCB) representatives for dialogue on matters impacting the sector.
The average extra cost, across the world, to businesses in social security and other ‘taxes’, of employing a worker is now almost 23 per cent of an employee’s salary, according to research by UHY, the international accounting and consultancy network.
Paradise Island’s 497-unit condo complex, the Reef, is providing evidence of a real estate market revival through $20 million worth of sales within six months.
A leading Bahamian accountant has warned that the days of non-contributory pensions “are over”, as he called on this nation not to let total employment costs “get out of hand”.
A well-respected business owner recently questioned me on the benefits and drawbacks of owning and operating a business that employs family members, and where the principals in the company are all related.
EARLY-stage Bahamian entrepreneurs could soon have the benefit of an “incubation centre” to support their development via a World Bank programme that has already facilitated a network of approximately 400 business incubators in more than 100 countries.
The annual Grand Bahama Business Outlook (GBBO) will take place on Thursday, March 14, at the Grand Lucayan Resort in Freeport. This year’s theme is ‘Discovering the Opportunities in this Challenging Environment’.
The Government is estimating that implementation of a Value-Added Tax (VAT) will generate a $100 million net increase in its annual revenues, Tribune Business was told yesterday, with the new tax generating equivalent to 2 per cent of Gross Domestic Product (GDP).
THE Bahamas needs to invest at least $1.8 billion in infrastructure in the short to mid-term to support economic growth, a senior accountant said yesterday, telling Tribune Business that a $500 million investment in education alone was “critical”.
Small businesses will have to drive economic growth for the next two-three years, a leading accountant said yesterday, arguing that he did not see “any significantly large business coming to the Bahamas” post-Baha Mar.
The Government-sponsored venture capital fund has suffered a Grand Bahama/Family Islands “failure rate” that is 11 percentage points higher than New Providence, although its chairman yesterday said it expected to receive a further $1 million injection from the Government by April.
THE Government is set to review “at least three proposals” for the takeover of the Grand Lucayan Resort’s casino by a new operator, Tourism Minister Obie Wilchcombe said yesterday, telling Tribune Business it should be close to a final decision next week on which group would win.
A Securities Commission of the Bahamas (SCB) employee is taking a six-month Mandarin course in China.
More than 300 international delegates attended the first-ever Bahamas International Investment and Business Forum, participating in two days of intensive discussions on potential investment opportunities in the Bahamas - particularly Grand Bahama.
GRAND Bahama must start to capitalse on its US proximity, the Pelican Bay’s general manager said yesterday, questioning how- as the closest Bahamian island - it was more expensive to get there.
The Bahamas Institute of Chartered Accountants (BICA) has held its first Practice Monitoring/Peer Review Workshop, aimed at preparing licensees that sign off on attestation and assurance engagements for a process that begins this year.
Grand Bahama Shipyard has increased its employment of Bahamians by 35 per cent over seven years, injecting $70 million and 2,600 jobs into the economy last year.
GRAND Bahama is well-positioned to become a “technological hub”, according to Tourism Minister Obie Wilchcombe, who yesterday said the Ministry Tourism was playing its part through plans to relocate its call centre to that island.
The Bahamas Chamber of Commerce’s (BCCEC) chief executive yesterday criticised small businesses for failing to fully exploit all the assistance available to them, disclosing that just two companies had taken advantage of its free book-keeping service over the past year.
The US’ top pay-TV network yesterday blasted the Bahamas for its “persistent failure” to compensate it for copyright violations, despite claiming only 20 per cent of the $3 million Fund created to do this.
THE Government has received a “very serious proposal” from a Canadian group interested in taking over the Grand Lucayan Resort’s casino, tourism minister Obie Wilchcombe confirmed yesterday.