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The London-based Privy Council has reiterated concerns that the Bahamas’ Quieting Titles Act can be used to steal land, saying it was “no accident” that it has heard numerous title disputes from this nation.
OUTBOUND passenger traffic from the Lynden Pindling International Airport (LPIA) into the US over the Christmas holiday period decreased 5 per cent year-over year, according to airport operator, the Nassau Airport Development Company (NAD).
BAY Street merchants have described business this past Christmas season as “steady”, several telling Tribune Business they were pleased with sales over the holiday period.
The Bahamas has received a “warning” from Wall Street that it may need to look at its fiscal projections again, a former finance minister adding that until the Mid-Year Budget the “jury is still out” on the Christie administration’s plans.
The Bahamas has suffered “the largest relative increase in government debt levels” in the Caribbean over the past five years, with a Wall Street rating agency predicting central government debt will hit 60 per cent of GDP by 2015.
The US could tip the Bahamian economy back into recession within eight months unless Washington reaches a deal by tonight to avert its so-called ‘fiscal cliff’, a former finance minister has warned.
The Bahamian communications industry saw its total turnover increase 3.7 per cent year-over-year to hit $444 million in 2011, regulators have estimated, despite cellular phone subscribers falling by 90,000 since 2009.
The Bahamas has been “losing stopover market share” to rival Caribbean destinations ever since the recession hit in 2008, its share of the region’s land-based tourists having fallen by more than one percentage point over a four-year period.
It is customary to make resolutions during these last few hours in an outgoing year.
THE Bimini Big Game Resort & Marina will be sold out heading into the New Year’s Day holiday, according to general manager Michael Weber.
The Bahamas and other countries “cannot afford to lose” the economic impact and job creation stemming from family-owned businesses, an expert in the field believes.
A leading Bahamian hotelier yesterday said resorts were looking at a 5-7 per cent year-over-year room rate increase for the peak 2013 Winter season, adding that it was “premature to ring the Doomsday Bell” over the so-called US ‘fiscal cliff’.
The proposed Family Court provides a “model” for the development of a dedicated Commercial Court, a leading QC said yesterday, describing such a move as critical to “the rebranding of the Bahamas as an international business centre”.
Finance Corporation of the Bahamas (RBC FINCO) is giving its shareholders a New Year’s present by paying out a total $2.7 million dividend - the first such capital return to investors for three years.
Atlantis is on track for a “spectacular” 2014 and 2015, its operator revealed yesterday, due largely to the pace of group bookings which were producing “significant” numbers.
Medical tourism could give the Bahamian economy an annual “$100 million-plus” boost, a prominent physician said yesterday, adding that stem cell therapy could be a key part of the nation’s thrust into this industry.
SEVERAL major hotel properties on Nassau/Paradise Island yesterday reporting 100 per cent occupancy heading into the New Year, one general manager telling Tribune Business, however, that the January booking pace was “very much off”.
HEALTH Minister Dr Perry Gomez said yesterday that a report on stem cell research should be before Cabinet early in the New Year, as one leading Bahamian physician yesterday called for “robust” legislation to protect the country’s reputation and promote good science.
It has been my personal experience that a bad salesperson cannot even give away money.
The Bahamian middle class is being “taxed into oblivion” by real property tax bill increases of between 200-500 per cent, a well-known realtor has warned.
Bahamians did not enjoy a “real increase in living standards” in the decade leading up to the 2008 recession, a top accountant arguing that most were instead living above their means on ‘easy credit’.
Excise Tax revenues from the auto industry are down because the rates are too high, a former finance minister believes, as he questioned whether the Bahamas is ready to endure “the pain” of fiscal adjustment.
A realtor has urged the Government to examine whether it should impose real property tax on Bahamian-owned vacation homes in the Family Islands, plus vacant land in New Providence, in a bid to boost revenues.
The FREE National Movement’s (FNM) chairman has criticised the Government for mandating that only a 15 per cent stake in Bahamas Food Services (BFS) be sold to the Bahamian public, telling Tribune Business any initial public offering (IPO) should involve at least 25-30 per cent of the company’s equity.
Finally, the long wait is over, which means that you have ripped open the nicely-wrapped gifts. I trust that you have received the presents you expected.