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ALL key Bahamian communications industry players are opposed to using the Bahamas Telecommunications Company’s (BTC) historical cost data as the basis to set its future interconnection charges, with the newly-privatised carrier admitting auditors were unable to give its 2010 separated accounts a clean bill of health.
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SEVERAL major Nassau-based hotel properties are expecting a successful fall 2012 season, with an Atlantis executive telling Tribune Business its bookings for the season were expected to be 8 per cent ahead of 2011 numbers.
COCONUT Grove Business League (CBGL) spokesman, Ethric Bowe, has estimated that the overall financial “hit” from the Blue Hill Road and Market Street roadworks could ultimately exceed $50 million.
The Bahamas Telecommunications Company (BTC) fears proposals to lower its mobile call termination rate will slash its international revenues by up to $1.5 million annually, reducing its ability to invest in infrastructure and benefit Bahamians.
Bahamian accountants yesterday expressed concern over the Securities Commission’s decision to stop using them as its anti-money laundering (AML) inspection agents from 2014, a former BICA president describing the move as “incomprehensible”.
A Bahamas-based logistics and supply chain management firm yesterday said it is “opening up the eyes” of local firms to major freight and transportation savings, having reduced a “major hotel’s” costs by 23 per cent.
A 25 per cent contraction in mortgage disbursements during the 2012 second quarter has further highlighted the weak construction and local real estate market, although the Central Bank of the Bahamas said there were signs of a modest uptick.
The Government was yesterday urged to “do a Margaret Thatcher” on the Bahamas Electricity Corporation (BEC) and its workforce, a former Board member telling Tribune Business this was “the only way” to slash its $12 million annual overtime bill.
ENHANCING commercial and technical cooperation, and increasing trade between the Bahamas and Brazil, topped the discussions between minister of financial services, Ryan Pinder, and his Brazilian counterpart yesterday.
AVOIDING any adverse impact on the Bahamian tourism and financial services industries will be the “real challenge” for policymakers in implementing a Value Added Tax (VAT), a financial executive said yesterday, while also noting that the business culture “will need to change”.
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The Bahamas could create “hundreds, potentially thousands” of new jobs if it promotes itself as a logistics/distribution hub to major US multinationals, a Nassau-based specialist in the field saying this nation could become “as wealthy as the ancient empires” that sat astride major trading routes.
Transfer Solutions Providers (TSP), the Mango Card operator, will open its first retail location at the Mall at Marathon next month, its principals telling Tribune Business yesterday that after a more than $3 million investment to-date they were set to “ramp up” activities.
NUA Insurance Agents and Brokers yesterday said it had added 3,000 policies, and between $1.5-$2 million in annual written premium, to its business book by acquiring a portfolio held by one of its Eleuthera sub-agents.
Several of the Bahamas’ leading accounting firms have reacted furiously to a perceived snub by the Securities Commission’s executive director, something they believe is symptomatic of how they are discriminated against when it comes to bidding on major audit contracts.
A 5 per cent GDP contribution from the Bahamas’ agriculture sector is an “attainable goal”, Bahamas Agricultural Producers Association (BAPA) president, Dr Keith Campbell said yesterday, acknowledging that the sector was definitely under producing.
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BAHAMAS Telecommunications Company (BTC) crews are working around the clock to restore services to more than 2,000 customers affected when heavy equipment operated by Jose Cartellone Construction Company for the New Providence Road Improvement Project cut through a major cable on Wulff Road on Tuesday afternoon.
RIVAL BAHAMIAN wholesalers can survive competition from US distribution giant Sysco, one local wholesaler/retailer telling Tribune Business: “There’s room for everybody.”
The Bahamas Electricity Corporation’s (BEC) former executive chairman said yesterday that during his tenure some staff worked seven-day weeks, and 12 hours per day, to cope with the Clifton Pier power plant’s maintenance backlog.
BAHAMAS National Trust (BNT) executive director Eric Carey will reveal its concept plan for the sustainable development of business opportunities in the national parks designated by the Government at this year’s Abaco Business Outlook (ABO).
The Bahamas is among the Western Hemisphere countries most vulnerable to global food price rises because it imports more than 40 per cent of its rice and wheat, with a leading food retailer warning Bahamians to brace for cost increases of at least “a couple of percentage points”.
THE Bahamian petroleum retail industry remains “challenged”, several dealers said yesterday, suggesting it was time for the Government to look at the additional $0.05 per gallon margin increase contemplated under the previous administration.
RoyalFidelity’s flagship $10 million mutual fund has seen redemption requests “slow down considerably” in recent months, a senior executive yesterday telling Tribune Business there were numerous ongoing projects that would see “the rubber hit the road” on equities market recovery.