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$1bn pension assets 'not heavily regulated'

A SENIOR accountant believes closer regulation and supervision of pension funds in the Bahamas is critically important, telling Tribune Business that just over $1 billion in pension assets were for the most part “not heavily regulated”.

Bahamas 'not getting paid for' airspace usage

THE government needs to demonstrate the political will to take control of its sovereign airspace, a leading airline executive telling Tribune Business: “It belongs to us and we’re not getting any money for it.”

BTC's $91m boost 'all the uplift for' parent

The Bahamas Telecommunications Company's (BTC) $91 million operating income (EBITDA) performance generated "pretty much all of the uplift" for Cable and Wireless Commu

Cape Eleuthera closure claims 'totally Untrue'

The Cape Eleuthera Resort & Yacht Club's property manager yesterday shot down claims the hotel was closing in two months as "totally not true", although its owners w

CWC: 'No major problems' with Gov't over BTC

The Bahamas Telecommunications Company's (BTC) majority owner yesterday said it did not "anticipate significant problems" with the newly-elected Progressive Liberal Pa

Concerns over BISX-listed firm's $14m water JV with NPDevCo

BISX-listed Consolidated Water yesterday said its $14 million joint venture water supply deal with New Providence Development Company (NPDevCo) would ul

Regulator: Why didn't broker take us to court?

The Securities Commission yesterday said its decision to share information on a Bahamian broker/dealer's clients with a Canadian regulator was fully "in compliance"

Acquire firms that match your taste

As the only business broker in Nassau, I come across many different models for small businesses. Some work, and some do not. Others nest themselves neatly in a particular niche and are succe

Customs 'frustrates' renewable importer

The Customs Department yesterday said it was seeking a global body's decision on the appropriate import tariff for lightbulbs and fixtures,

No wind-up petition link to Aquapure

AQUAPURE executives yesterday allayed concerns that the company was in financial distress following the publication of a winding-up petition, e

Penalised broker 'trampled on' by the Commission

A Bahamas-based broker/dealer yesterday said it had been left "vulnerable" and "exposed to liability" from Canadian sanctions as a result of the Securities Commis

Food retailer's sales up 21-22%

A leading Grand Bahama-based food retailer yesterday said its sales were up 21-22 per cent for 2012 to-date, but warned that "no one can do any business here" given the island's re

'Assured' WTO challenge to Freeport's foundation

The Bahamas "can be assured" that Freeport's very foundation, the Hawksbill Creek Agreement, will be challenged under the World Trade Organisation (WTO) regime, a

Owner unveils more BORCO growth plans

The Bahamas Oil Refining Company's (BORCO) owner is targeting a 'crude oil topping unit' and 'bunker filling station' as new growth opportunities for the Grand Bahama-based s

Butterfield 'regroups'; has 'no plans to exit'

Butterfield Bank (Bahamas) has "regrouped" with "no plans to exit" this jurisdiction, despite downsizing its balance sheet considerably through the transfer of its m

Facial surgery without the knife

The Art of Graphix Face lift surgery has been around in its current form for about 100 years. During that time, virtually every permutation of the procedure has been attempted, leaving some with success and some witho

Gold standard reads for our policymakers

Every Bahamian who thinks about our public policies should read these two recent books - short, punchy, and written in non-academic style that anyone can appreciate. The first one is In Gold We

Lot prices 'prohibitive' via 20-30% infrastructure costs

INFRASTRUCTURE prices related to housing developments must be addressed, a well-known contractor telling Tribune Business y

Engineers unveil new Board line-up

THE Bahamas Society of Engineers (BSE) yesterday announced that in March 2012, Robert Reiss and Ray McKenzie resigned as president and secretary respectively. It added that it had selected a new Board that will govern t

BTC promises quality upgrade

The Bahamas Telecommunications Company's (BTC) has promised customers they will experience improved quality, speed and consistency of cellular service when it completes critical milestones in an 18-month, $42 million upgrade

Education key to alternative tax

EDUCATION and implementation will be key in the Bahamas' move to an alternative system of taxation, the Bahamas Chamber of Commerce and Employers C

'More than $40m' recovery target on key CLICO asset

CLICO (Bahamas) liquidation team is hoping to recover "considerably more" than $40 million from the liquidation of the Florida-based real estate project that accounts for 63 per cent of its assets, Tribune Business was told yesterday, with "huge interest" having been expressed in its remaining 283 acres.

Bahamas provider: 'Timing 100% right' for Swiss office

A BAHAMAS-based financial services provider that supervises $1.5 billion in client assets yesterday said "the timing is 100 per cent right" to open its new Switzerland office, and urged other local institutions to "seriously consider" expanding into their target markets.

$225m World Mart principals 'very encouraged' over Chinese meetings

ONCE of the principals behind the proposed $225 million trade market proposed for Freeport yesterday told Tribune Business they were "very encouraged" by the outcome of meetings with China-based strategic partners, and hoped to engage the new PLP government over a Heads of Agreement for the project shortly.

Implement VAT as 'matter of urgency'

THE Bahamas needs to be "well on its way within the next two years" to implementing a VAT/sales tax regime, the Ministry of Finance's leading consultant said yesterday, adding that this nation's tax revenues - as a percentage of GDP - were 10 points below the Western Hemisphere average.