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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.
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).
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.
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.”
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 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”.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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”.
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.
The Gaming Board is moving to address Bahamian casino industry concerns over “a decline in the professionalism and performance quality” of some personnel.
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.
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.
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.
Callenders & Co has named three new partners, bringing the total number to eight between its two New Providence offices and Freeport .
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.
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.