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Bahamas is facing FATCA 'trade-offs'

The Bahamas will have “to make some trade-offs” in negotiating an Intergovernmental Agreement (IGA) with the US, a leading accountant said yesterday, adding that his clients were “more comfortable” taking this route to meet Foreign Tax Compliance Act’s (FATCA) requirements.

BFSB summit focuses on tax, regulatory demands

The global focus on taxation, anti-money laundering and demands for greater transparency will be discussed at this week’s International Business & Finance Summit (IBFS).

'Mergers' boost Fidelity funds' assets by $8m

RoyalFidelity Merchant Bank & Trust yesterday said it had used ‘mergers’ to increase the asset bases of its two oldest mutual funds by $8 million apiece, adding that a net $1 million subscriptions inflow into its equities fund indicated renewed demand for listed stocks.

Top realtor firm says 2012 sales volumes up 14%

A prominent Bahamian real estate firm told Tribune Business yesterday that its 2012 sales volumes were up 14 per cent year-over-year, its president adding: “We have started 2013 on the right foot.”

AID sees record Xmas with 8.6% sales rise

AUTOMOTIVE Industrial Distributors (AID) yesterday said it had regained the momentum lost when fire destroyed its Wulff Road headquarters, as it comes off a record December performance where sales were up year-over-year by 8.6 per cent.

RoyalFidelity targets $10-$15m for new fund as 'sales highlight'

RoyalFidelity Merchant Bank & Trust is aiming to grow its newly-launched mutual fund to $10-$15 million in assets under management by year-end, telling Tribune Business yesterday this would be the “sales highlight for 2013”.

Bahamas 'leaps and bounds' behind rivals on renewable energy

RIVAL Caribbean nations are “leaps and bounds ahead of the Bahamas” on renewable energy implementation, although one local provider is aiming to close the gap by investing in development of a trained installation workforce.

Bahamas ‘leaps and bounds’ behind rivals on renewable energy

RIVAL Caribbean nations are “leaps and bounds ahead of the Bahamas” on renewable energy implementation, although one local provider is aiming to close the gap by investing in development of a trained installation workforce.

Minister slams G-20's 'unprecedented assault' on financial industry

The Minister of Foreign Affairs has used a regional summit with the European Union (EU) to hit out at “the unprecedented assault” on the Bahamas’ financial services industry, arguing that the sector was subject to regulatory standards that matched those in developed countries.

Oceania dispute threatens Bahamas investor standing

THE Bahamas’ reputation as a prime destination for foreign direct investment (FDI) is being threatened by the dispute over the controversial Oceania Heights project, a homeowner at the devlopment believes.

Shipyard adds eight graduates

Grand Bahama Shipyard (GBS) has added another eight new graduates, bringing to 46 the number of young Bahamians who have passed its rigorous training programme.

Satellite provider refunds 5% of base over axed service

A LEADING Bahamian satellite TV provider said it was in “wait and see” mode over the restoration of Direct TV’s US feed to some 500 account holders, confirming that the service was not officially authorised.

Caribbean targets greater wellness tourism share

CARIBBEAN nations such as the Bahamas are moving to increasetheir share of the $40-$60 billion global health and wellness market, the region’s Spa Association leading the push by aiming to increase the sector’s visitor arrivals and revenues by as much as 10 per cent by 2015.

RBC's regional operation wins private bank award

Royal Bank of Canada’s (RBC) Caribbean Wealth Management business has been recognised as the ‘Caribbean Private Bank of the Year’ at the Citywealth International Financial Centre Awards, held in London.

Bank deal targets top green energy 'hurdle'

A Bahamian renewable energy provider believes it has achieved an industry first through its financing tie-up with Commonwealth Bank, a move designed to overcome “the biggest hurdle” to the industry’s expansion.

Bahamas faces 'disadvantage' if no FATCA IGA

The Bahamas would be “at a competitive disadvantage” if it chose not to comply with the US Foreign Account Tax Compliance Act (FATCA) via an Intergovernmental Agreement (IGA), the Minister of Financial Services believes.

Theft rates raise auto insurance costs 15-20%

Bahamian auto insurance premium costs are 15-20 per cent higher “across the board” due to a relatively high vehicle theft rate, one industry executive telling Tribune Business the situation was being exacerbated by government processes that were still “in the Stone Age”.

Laing slams 'reckless, crazy' Gov't spending

The Government is using alleged commitments left behind by the former Ingraham administration as “cover for its reckless, crazy” spending since the May 2012 general election, an ex-FNM finance minister has charged.

Casino concerns over Gaming Board staff

The Gaming Board is moving to address Bahamian casino industry concerns over “a decline in the professionalism and performance quality” of some personnel.

Satellite provider refunds 5% of base over axed service

A LEADING Bahamian satellite TV provider said it was in “wait and see” mode over the restoration of Direct TV’s US feed to some 500 account holders, confirming that the service was not officially authorised.

CHAMBER VOICE: Making the most of what we have

WHILE registered voters in the Bahamas make their way to the polls today to decide whether or not to accept, and support, local gambling, businesses make similar decisions daily.

Oceania homeowners ‘come out of the mud’

HOMEOWNERS embroiled in the long-standing dispute with developers at the controversial Oceania Heights project believe they have finally “come out of the mud” following their meeting with Deputy Prime Minister Philip Davis on Friday.

Law firm adds three partners

Callenders & Co has named three new partners, bringing the total number to eight between its two New Providence offices and Freeport .

Arbitration takes centre stage at BFSB's summit

Bahamian and international experts will be part of a featured panel at the upcoming International Business and Finance Summit (IBFS) that is being hosted by the Bahamas Financial Services Board (BFSB) in Bimini this weekend.

Shipyard adds eight graduates

Grand Bahama Shipyard (GBS) has added another eight new graduates, bringing to 46 the number of young Bahamians who have passed its rigorous training programme.