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Excise Tax snafu stymies start-up's 60 hires plan
A Bahamian-owned tobacco manufacturing start-up said yesterday it would pursue legal action as a “last resort” if it is unable to obtain an Excise Tax exemption on domestic sales, adding that its business model had been thrown “totally out of whack”.
'Internal brain drain'costs Bahamas $3.5bn
The Bahamas is losing nearly $3.5 billion to the “internal brain drain” caused by low worker productivity, a well-known eye doctor yesterday arguing this was having a greater economic impact than the loss of 61 per cent of tertiary-educated Bahamians to jobs abroad.
Atlantis owner eyes 'significant' 5-year investment programme
The Atlantis resort’s owner is looking to invest a “significant sum” in a five-year capital expenditure plan for the Paradise Island resort, having pronounced itself “quite excited” to have completed the $1.9 billion refinancing.
'Seven digit' Atlantisinvestment delayed bygaming reform wait
Atlantis’s top executive yesterday said its planned multi-million dollar, “seven digit” investment in private gaming rooms was being delayed by the wait for casino gaming reforms to be passed.
Maritime marriage revenues beating forecasts by 20%
Maritime mariages on Bahamian-registered vessels have generated 20 per cent more revenue than projected for 2014 to-date, the Attorney General telling Tribune Business that this nation has been approached by all the major cruise lines over this venture.
Call for orderly behaviour during elections
POLITICIANS have renewed calls for civil and orderly behaviour during elections after a supporter spit at the wife of a party leader.
Union: City Markets behind over payroll
Union: City Markets behind over payroll By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE union representing City Markets workers has said it would welcome the sale of the struggling food store chain if it meant saving jobs, o
GDP boost from raising Bahamas' 60% net access
GDP boost from raising Bahamas' 60% Net access By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net LESS than 60 per cent of Bahamian homes have Internet access, the Bahamas Telecommunications Company's (BTC) chief executive has said
$10m Port IPO hits the road
The roadshow for Arawak Cay Port Development's (APD) $10 million initial public offering (IPO), which kicked off last week, has received significant public interest, the company says. APD began the meetings at the Harry C Moore Library in Nassau, and the
Bahamas could get marketplace again in 2013
By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Bahamas could play host to the Caribbean Hotel and Tourism Association's (CHTA) Caribbean Marketplace summit again next year, the organisation's president, Josef Forstmayr told
GOVT LIKELY TO SELL 40% PORT EQUITY STAKE
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net PRIME Minister Hubert Ingraham yesterday said he expects the Government to eventually sell its 40 per cent stake in Arawak Cay Port Development Company (APD), allowing the Nassau Co
'LOT OF ABUSE' IN WELFARE SYSTEM
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net The Bahamas' social security system has been subjected to "a lot of abuse", the minister responsible has admitted, acknowledging that welfare assistance was not always being given t
Business to take roadworks battle to Privy Council
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net BUSINESS owners who took the Government to court over Baillou Hill Road and Market Street's transformations into one-way streets say they plan on taking their case to the Privy Coun
Airline '90% complete' on $4.5-$5M project
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net WESTERN Air chief executive, Rex Rolle, said yesterday that construction on the airline's new terminal and maintenance facility in Freeport is "about 90 per cent" complete, telling
Worker productivity concerns businesses
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net WORKER productivity is a growing concern for employers, the Bahamas Chamber of Commerce and Employers Confederation (BCCEC) chairman telling Tribune Business yesterday this was vita
MINISTER ADMITS NEED FOR NATIONAL FISCAL 'REBALANCE'
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A government minister yesterday acknowledged that the Bahamas needed a fiscal"rebalancing" given its $4.25 billion national debt, with the Ingraham administration trying to nurture
BAHAMAS 'PUNCHING WELL ABOVE WEIGHT' IN SHIPPING
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Bahamas "punches well above its weight" in the global maritime industry, the Bahamas Maritime Authority's (BMA) chairman saying yesterday that through its involvement with the I
NIB 1% RATE IS RISE PROPOSED
By NEIL HARTNELL Tribune Business Editor and NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A recommendation to increase the National Insurance Board (NIB) contribution rate by one percentage point to 10.8 per cent has been lodged
BAHAMAS EYES 15% Q1 GROUP TOURISM RISE
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Bahamas is set to experience a "robust" 2012 first quarter in the tourism sector, Vincent Vanderpool-Wallace said yesterday, attributing this to an expected 15 per cent uptick
Minister admits need for national fiscal 'rebalance'
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A government minister yesterday acknowledged that the Bahamas needed a fiscal"rebalancing" given its $4.25 billion national debt, with the Ingraham administration trying to nurture
