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MORE than 60 per cent of the Bahamas Electricity Corporation's (BEC) 102,444 customers were over 90 days past due in paying their bills at the recession's peak, it has been revealed, with the monopoly power provider seeing a major decrease in its current solvency deficiency to $17.75 million at the end of its 2010 financial year.
A BAHAMIAN broker/ dealer has been forced to "pull back" on potential expansion plans following a Canadian regulatory ruling against it, telling Tribune Business it has to-date refrained from legal action against the Securities Commission of the Bahamas because the "horse was already out of the gate".
A WELL-known businessman yesterday said it would cost his company between $150,000-$200,000 to tie five locations into the new roads created by the New Providence Transportation Programme, describing the issue as "a substantial burden" for many Bahamian-owned businesses.
KERZNER International is earning base management fees equivalent to 2 per cent and 3 per cent of gross revenues generated, respectively, by the Atlantis and One & Only Ocean Club under the terms of its $2.5 billion debt restructuring, Tribune Business can reveal.
A MARKETING agency which recently launched in the Bahamas yesterday said it was offering companies maximum exposure with no upfront costs, an executive telling Tribune Business it could cater to "90 per cent of businesses" in this nation.
THIS article seeks to explain the broad concept of the Value Added Tax (VAT) and detail the process of its implementation in the particular case of Barbados.
BAHAMIAN farmers on the Family Islands say marketing their produce continues to pose a major challenge, one telling Tribune Business: "You have to fight to get your stuff sold."
THE Bahamas is losing competitiveness in the investment funds sector, but the minister of financial services yesterday said that this nation can still ascend to the market forefront as it is "ripe" for reentry.
A leading Bahamas-based satellite TV provider says it will have no problem being regulated by the Utilities Regulation and Competition Authority (URCA), telling Tribune Business it welcomed fair competition but could not compete with ‘rogue’ operators undercutting on price.
FORMER Mail Boxes Etc chief executive, Gershan Major, has joined the Bahamas Telecommunications Company (BTC) as its vice-president for channels and marketing.
THE Grand Lucayan resort has stunned many in the hotel/tourism industry by withdrawing from the Grand Bahama Island Tourist Board, Tribune Business can report, with the Ministry of Tourism locked in talks to resolve the situation "between now and June 13".
A BAHAMIAN general insurer has told Tribune Business it would probably have generated $3-$4 million in net income for 2011 had it not been for Hurricane Irene and fire-related claims, its bottom line finishing 71.8 per cent down on the previous year's results.
ATLANTIS'S May 2012 occupancy levels were "seven percentage points" higher than those achieved in the comparative period last year, with the Memorial Day weekend generating "record revenue" for the Paradise Island resort,
A WELL-KNOWN businessman has confirmed to Tribune Business that he paid a $5,000 fine after being found in Contempt of Court, describing as "unfortunate" the situation he and a former business partner now found themselves in due to a dispute over a $1.1 million Old Fort Bay home.
A LEADING businessman has warned Bahamians to brace for "substantial increases in taxes over the next five years", arguing that the Christie administration could not avoid this if it was to slash "mind boggling" $500 million-plus fiscal deficits.
A MAJOR importer believes the high 200 per cent tariff on tobacco imports is encouraging smugglers, telling Tribune Business that while proper controls were necessary the Government should look at reducing the tax rate.
CUTTING spending "is not a priority" for the Government based on its 2012-2013 Budget statements, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive noting the absence of any measures to reduce the public sector's costs.
EVERY Bahamian has experienced some kind of poor service as we bought goods and services in various business establishments. Some might even argue that most of the experiences in local companies are either average or substandard, with very few being magical ones. So few of us can share experiences where, locally, we would have witnessed or experienced service that was truly 'blow away'.
THE Prime Minister's stated intent to reclaim majority ownership of the Bahamas Telecommunications Company (BTC) sends a "very concerning message" to the Bahamian and international business community about the "validity of contracts" they enter into with the Government, a senior private sector official has warned.
The BAHAMAS Public Service Union's (BPSU) president feels the Government should move to pass legislation providing for every employee in the Bahamas to have health insurance and some form of pension benefit at the end of their careers.
The Government’s decision to yesterday reinstate duty exemptions on imported building materials and costs for Exuma could reduce construction costs by around 16 per cent, a former Bahamian Contractors Association (BCA) president told Tribune Business.
The Bahamas' national debt will breach the $5 billion mark before the end of the upcoming 2012-2013 fiscal year, the Government's Budget projections disclosed yesterday, w
A Bahamian broker/dealer yesterday produced documents it said showed the Securities Commission was "bullied" into passing information on its clients over to Canadia
The Government is targeting an "almost 100 per cent", or near doubling, of real property tax revenues over the next five years, Prime Minister Perry Christie said yesterday, w
The Bahamas must establish a mortgage registry and remove the 10 per cent Stamp Duty on planes coming into this nation if it is to create a successful aircraft