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Private sector-run Procurement Bureau can save Gov't $200m

The Government was yesterday urged to establish a private sector-managed National Procurement Bureau as an alternative to across-the-board spending cuts, a well-known doctor suggesting it could save taxpayers up to $200 million per year.

India investors pledge 50MW waste energy plant

A group of Indian investors have committed to developing “at least” a 50 Mega Watt (MW) waste-to-energy plant, that nation’s Honorary Consul to the Bahamas said yesterday.

Copyright woes 'soon dealt with'

The Copyright Royalties Tribunal’s chairman yesterday said the issue of outstanding payments owed to foreign rights holders would “not be outstanding for very much longer”, with Tribune Business obtaining documents showing his predecessor sought to use URCA to “pressure” Cable Bahamas over the issue.

Atlantis in $132m economic injection

Atlantis injected roughly $132 million directly into the Bahamian economy last year through the procurement of goods and services, Brookfield Hospitality’s president and managing director said yesterday

Government 'stalling for time' on energy policy

The Government was yesterday accused of “stalling for time” over its energy sector reform policies, a former Cabinet Minister arguing it was faced with either privatising the Bahamas Electricity Corporation (BEC) or increasing its rates.

VAT needs 'cashless' society to succeed

A Value-Added Tax (VAT) will not succeed without the banks driving Bahamians to a ‘cashless’ society, a leading businessman warned yesterday, adding that reforms would be “a disaster” unless accompanied by “ruthless” enforcement.

Be 'smart' with fiscal reforms

Dr Johnathan Rodgers urges Christie administration to adopt more nuanced approach to reforms

THE ART OF GRAPHIX: How the best computer falls into your lap

I was casually looking for a new laptop this week, and the hunt went surprisingly well despite my meticulous computing specifications and needs.

Equities to generate 10% returns in 'great year'

The Bahamian stock market will generate a minimum 10 per cent return for investors in 2013, a leading investment banker said yesterday, adding that some listed equities had seen “significant price increases” of up to 69.5 per cent year-over-year.

Bahamas must 'disabuse itself' on Immigration

The Bahamas must “disabuse itself” of the mindset that it can meet all the financial services industry’s labour needs internally, a top QC suggesting that “hundreds, if not thousands” of jobs would be created if the sector’s GDP contribution increased just 3-4 per cent.

Condo project enjoys $5-$6m January sales

THE Caves Heights development has generated $5-$6 million from condo sales in January alone, its vice-president of sales and marketing yesterday telling Tribune Business the oceanfront development was aiming to double last year’s performance.

Freeport 'pacesetter' for implementing VAT

The Government and private sector were yesterday urged to “emulate” Freeport’s bonded goods practices as a model for implementing Value-Added Tax (VAT) throughout the rest of the Bahamas, a well-known QC describing the city as a reform “pacesetter”.

Wall Street backs VAT as 'good first step'

Wall Street yesterday described the Government’s plan to introduce Value-Added Tax (VAT) by 2014 as “a good first step” to tackling the Bahamas’ fiscal woes, given that it could have “dragged out” much-needed reforms.

Family Island growth needed for 80,000 population shift

A leading small business consultant yesterday called for more incentives to foster Family Island development, telling Tribune Business that New Providence had “maxed out” and a population shift off at least 80,000 was needed.

Card hacking: No fraud signs yet

A top banker yesterday said no evidence had yet emerged to suggest that Bahamas-based commercial banks or their customers had suffered a “major fraud” as a result of any external link of their credit card details.

Brewery recycling over 50% of bottles

THE KALIK beer brand is continuing to grow off a strong 2012 performance, Commonwealth Brewery’s managing director said yesterday, adding that it maintains a strong market foothold after 25 years.

MARKETING REVOLUTION: Calls for proper phone behaviour

The other day I was sitting at home relaxing and reading my e-mail on my desktop computer.

Chamber Board eyes 'desperately needed change'

The Grand Bahama Chamber of Commerce’s newly-inducted Board of Directors hope their tenure will act as a catalyst for the change that is “desperately needed” on the island.

Government launches FATCA survey

The Ministry of Financial Services yesterday said it had joined forces with industry regulators to launch a survey that will assess the financial services sector’s readiness for the Foreign Account Tax Compliance Act (FATCA).

Oceania homeowners demand $6.9m refund

Homeowners at the controversy-plagued Oceania Heights project are demanding that the developers repay them a collective $6.95 million, although one yesterday said he expected an offer of nothing better than “50 cents on the dollar”.

Regulator blocks City Markets' investor meeting

City Markets failed to hold its advertised shareholder meeting yesterday after the Securities Commission blocked the now-defunct supermarket chain from doing so, Tribune Business can reveal.

QC urges 'hybrid' IGA for Bahamas FATCA compliance

A leading QC yesterday urged the Government to comply with the US Foreign Account Tax Compliance Act (FATCA) by negotiating a “hybrid agreement best suited to our national interests”, while warning that it would be “very dangerous” for the Bahamas if Europe adopted the same approach.

Arbitration Centre plan 'will not succeed' if Immigration Inflexible

The Bahamas’ International Arbitration Centre ambitions have “no real prospect of being successful” unless this nation adopts a “smart” Immigration policy that allows parties to bring in their own, foreign attorneys, a leading QC warned yesterday.

No trickle down from $1.5 billion FDI

Despite the Bahamas enjoying $1.5 billion in foreign direct investment (FDI) inflows in 2012, a Cabinet Minister yesterday said very little of this had trickled down to small and medium-sized enterprises (SMEs) over the years.

Manufacturers uncertain over VAT's impact

BAHAMIAN manufacturers yesterday said they were uncertain about what the implementation of a Value Added Tax (VAT) system would mean for the ssector, telling Tribune Business it still needed protection.