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Realtors: ‘wow impact’ from Duty cut to 6%

Top realtors have urged the Government to cut Stamp Duty rates to 6 per cent “across the board” in order to have a “wow impact” in stimulating the housing market and wider Bahamian economy.

Task Force to study Genting energy report

PRIME Minister Perry Christie yesterday said the Government would appoint a Task Force to assess the recommendations from a free energy feasibility study by Genting Energy Group, its head noting that some reforms to the sector were needed.

Economic awakening from the ‘bottom up’

Bahamian policymakers have long focused on ‘top down’ economic strategies to improve tourism, financial services and construction for almost 40 years.

THE ART OF GRAPHIX: How to lead the design charge

Have you often scratched your head repeatedly just because you didn’t know what to charge a potential client?

Hotel booking pace ‘behind’ for 2013 Q1

The Bahamas Hotel and Tourism Association (BHTA) yesterday warned that the resort booking pace for the 2013 first quarter was currently “behind” 2012 comparatives, although average occupancies for the Christmas/New Year period are expected to be 2-3 per cent up.

PM confirms approval for Sysco’s BFS deal

PRIME Minister Perry Christie yesterday confirmed that the Government had decided to approve Bahamas Food Services’ (BFS) takeover by multi-bilion US giant, Sysco, promising his administration would ensure that Bahamian wholesalers were not “unduly impacted” by the sale.

Fiscal woes require more than ‘band aid’

The Bahamas needs “substantially more than a band-aid” to address its fiscal problems, a leading businessman yesterday questioning whether ongoing maintenance/operating costs for new infrastructure projects had been factored into future Budgets.

Bahamas ‘20 years behind’ Canada on Payment systems

Private sector leaders yesterday hailed the Central Bank’s planned 2013 electronic payments initiatives as “long overdue”, adding that the Bahamian commercial banking system was 20 years behind Canada in the adoption of such technology.

Property Tax bills ‘going through roof’

Middle class Bahamian homeowners yesterday complained that their real property tax bills were “going through the roof”, in some cases doubling, as the Government moves to collect every cent it believes due to it.

PM: No ‘headway’ in BTC control talks

PRIME Minister Perry Christie yesterday indicated that the Government was making little to no headway in wresting back majority control of the Bahamas Telecommunications Company (BTC), saying a conclusion had to be reached in talks between itselfand Cable and Wireless Communications (CWC) “sooner rather than later”.

Crowley unveils new executive shake-up

Crowley Maritime Corporation’s liner services division yesterday announced that Tony Otero has been named vice-president of Caribbean services, which includes the Bahamas.

Bank awards $5,000 Child Institute grant

Royal Bank of Canada (RBC) has recently awarded a $5,000 grant to the Bahamas Institute for Child and Adolescent Mental Health (BICAMH) as part of the RBC Children’s Mental Health Project.

MARKETING REVOLUTION: Advertising that leads a generation

Not too long ago I was having a conversation with the parent of one of my Judo students.

Big Game 'smack down' 2nd fishing tournament

BIMINI’S Big Game Club Resort & Marina is holding its second Wahoo Smackdown II Tournament in February.

Benchmark denies 'material impact' via client's liquidation

BENCHMARK (Bahamas) yesterday said the Supreme Court-supervised liquidation of one of its key clients would “not have a material impact” on its financial position or “long-term development”, expressing confidence that it would achieve long-term business development goals.

Retailers hope for Christmas pick-up

BAHAMIAN retailers yesterday expressed optimism that shoppers would pick up the pace this week with Christmas just days away, several telling Tribune Business they were expecting to see a rush of last minute customers.

Tourism instructor receives key honour

RECOGNISING her longstanding support for programmes that bring business and education together, the Bahamas Hotel and Tourism Association (BHTA) and Prime Minister Perry Christie have presented educator Ruth Gardiner with the annual Business-Education Partnership Award.

‘SWITCH’ turn on target for 2013

The Central Bank of the Bahamas is targeting 2013 for implementation of a SWITCH payments infrastructure, its Governor yesterday telling Tribune Business this was part of a drive to “modernise” the financial system and bring “greater efficiencies” for the public and private sector.

Bank predicts 2013 ‘tapering down’ for loan loss provisions

While expressing hope that Commonwealth Bank’s loan loss impairments would “taper down” in 2013, its managing director yesterday conceded that persistent unemployment meant it faced “a challenging three-six months ahead” in this area.

‘Crazy’ tourism strategy ignores 98% of bahamas

The Bahamas has taken a “crazy” approach to tourism marketing that has effectively ignored 98 per cent of its land mass, a former minister arguing that this nation has more growth potential than “any other Caribbean country”.

‘Dismay’ over lengthy CLICO liquidation

A member of CLICO (Bahamas) creditors committee yesterday said he was “very dismayed at the length of time” required to wind-up the insolvent insurer, and expressed hope that it would not take as long as the Gulf Union Bank and Banco Ambrosiano liquidations.

Royal Bank stages directors summit

Royal Bank of Canada (RBC) has hosted a Directors’ Forum in Nassau for top executives from its Bahamas, Cayman Islands and Turks & Caicos operations, with corporate governance the central theme.

GB Power operators in 20-week training plan

Grand Bahama Power Company (GBPC) has invested in a comprehensive, 20-week training programme for its plant operators that started on November 19, 2012.

$30m Gov’t guarantee delays CLICO wind-up

The transfer of CLICO (Bahamas) 14,000-strong insurance policy portfolio to a new underwriter is being held up by the protracted delay in obtaining the long-promised $30 million Government guarantee, Tribune Business can reveal.

Real Property tax reforms can ‘double’ revenues to $200m

The Government has been advised that it could double real property tax collections to almost $200 million per year through better enforcement and ensuring all eligible properties are on the roll, a Cabinet minister has disclosed.