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A 0.1 per cent increase in the Bahamas' share of global international financial centre (IFC) bank deposits represents "a mixed bag" for this nation, a leading attorney yesterday telling Tribune Business the incoming Christie administration faced a delicate "balancing act" to secure the industry's future.
CITY Markets' principal yesterday told Tribune Business he was aiming to close the sale of its remaining four New Providence stores to Super Value by this Friday "or Monday at the latest", added urgency coming from his attorney likely taking up a post in the new PLP government.
FISCAL prudence must be the "order of the day" for the incoming Progressive Liberal Party (PLP) administration, with one private sector leader warning yesterday: "No one is going to bail the Bahamas out."
THE Bahamas Real Estate Association's (BREA) president yesterday said two tax-related initiatives the Progressive Liberal Party (PLP) has pledged to enact during its first 100 days in office would have a "significant impact" on the Bahamian property market, creating a "win-win" for all parties.
I LOVE to watch the Super Bowl advertisements. These ads cost $4 million to run for 30 seconds, not including production costs, which could also run into hundreds of thousands of dollars. This year did not disappoint. Super Bowl ads had everything from an Eskimo trading in his sled for a new car to the Beckham commercial, which seemed to focus on his tattooed muscular body. Finally, we see he is selling his new line of underwear.
STRONGER regulations to govern the fisheries sector is a key industry priority, Bahamas Commercial Fishers Alliance (BCFA) chief, Adrian LaRoda, said yesterday, adding that the new government would be held accountable for its promises to support the industry.
THE National Insurance Board (NIB) has seen "very satisfactory" returns on its overseas investments, its director, Algernon Cargill, telling Tribune Business yesterday that surplus liquidity in the Bahamian financial system was part of the reason it wanted to invest abroad.
THE private sector's concerns over the proposed National Health Insurance (NHI) initiative have not changed since the first Christie-led administration introduced the scheme in 2006, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive warning on the further added cost burden it would impose.
ST ANDREW'S School is aiming to become recognised as the "leading international school" in the Caribbean region, its principal telling Tribune Business that its newly-unveiled strategic plan would "shape us for the next eight-10 years".
KPMG International's global head yesterday urged the Bahamas to forge "strong" bilateral investment treaty relationships with countries now targeted by global money managers, adding that it was "critical" for this nation to "demonstrate its sophistication" to the world.
BAHAMIAN car buyers are being "excluded" from the high-efficiency diesel auto market due to the "low quality fuel" being imported into this market, one dealer yesterday telling Tribune Business the sulphur content was 70 times' more than US and European regulations permitted.
THE Bahamian BMW dealer yesterday said it had "upped" its sales forecast for the brand's first year by about 30 per cent, and is expecting to close deals for 100 vehicles between that and the Mini this year.
THE National Insurance Board's (NIB) foreign investment portfolio expanded by $21.9 million to hit $59.4 million by year-end 2011, it was revealed yesterday, the social security system having taken up 88 per cent of its annual allocation.
WHILE a Four Seasons hotel on Eleuthera could be prove to be a "shot in the arm" for that island's economy, its Chamber of Commerce president told Tribune Business yesterday that obtaining the 'critical mass' necessary to make properties in the Family Islands successful remains a major challenge.
DEVELOPMENT on the Family Islands can simply be like a "lake in the middle of the desert", a leading Bahamian developer yesterday telling Tribune Business that the bigger picture needed to be assessed on this issue.
BAHAMIAN new car dealers have "a little bit more bounce in our step" after industry sales for the 2012 first quarter increased 10 per cent year-over-year, although they want to see three consecutive quarters of growth before "counting on" a confirmed recovery trend.
THE Bahamas Oil Refining Company (BORCO) has secured a "key commercial win" through a long-term contract that supports a further 1.2 million barrel oil storage capacity expansion, with the Grand Bahama-based facility driving a 24.1 per cent adjusted operating income increase for its parent's international operations.
LEADING real estate developers have warned it is "critical" for the Government to extend the Stamp Tax exemption for first-time buyers beyond its June 2013 expiration date, one telling Tribune Business that such purchasers accounted for 30-40 per cent of his total sales.
THE Bahamian business community has its "work cut out" with more than $302 million worth of loans to it in arrears, a leading private sector official saying this showed companies were "not recovering as we had hoped".
WHILE new regulations governing the scrap metal industry have added paperwork and additional operational costs for dealers, one operator told Tribune Business the price to remove the "band of thieves" stigma was worth it.
The Bahamas International Securities Exchange (BISX) saw trading volumes and values increase during the 2012 first quarter, even though the All-Share Index closed down 4.11 per cent for the year-to-date - a greater decline than the 1.74 per cent seen last
THE Bahamas has for many years been engaged in the conversation of economic and industry diversification. While we all view tourism as our mainstay, and appreciate its great sustained value to us as a nation, we have long feared serious declines in tourist arrivals and the dire consequences of this occurrence. Some understanding of the natural cycle of business, and our observation of regional and global trends in tourism, should certainly hasten us into encouraging entrepreneurs and investors alike to consider primary and secondary industries.
CABLE Bahamas has warned that the proposed Code of Practice regulating TV content places it at "a competitive disadvantage" against satellite TV providers, while arguing that it is impossible for it to control what is shown on the overseas cable channels it purchases.
DESPITE the Bahamas seeing a 45 per cent increase in foreign direct investment (FDI) to $840 million during the first nine months of 2011, a senior private sector official yesterday said this nation needed to divert more capital into industries long "devoid of any focus".
THE Bahamas is better-positioned than the rest of the Caribbean to attract inward investment and financing for resort development, a leading accountant yesterday telling Tribune Business projects such as Baha Mar's would be "a waste of time" without supporting infrastructure "capacity".