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Bahamasair's $120m finance for new fleet
Two major global financial institutions have been hired to raise $120 million for Bahamasair before year-end, Tribune Business can reveal.
Green economy gives ‘opportunities galore’
The Government would help create a “far greater” number of “meaningful” Bahamian jobs if it abandoned its current development approach in favour of the ‘green economy’, a well-known QC believes.
$600m Sarkis claims branded 'hogwash'
An ex-Baha Mar director has slammed as "hogwash" claims that Sarkis Izmirlian lacked the $600 million financing needed to complete the project, accusing the Government of "playing the blame game".
Baha Mar guest: ‘I’ll only return to look at the ruins’
A Houston entrepreneur says he will never return to the Bahamas unless it is to view “the ruins of the Baha Mar disaster”, after the enforced cancellation of his wedding left him $100,000 “out of pocket”.
Atlantis’s 4.5% Xmas rate rise beats hotel norm
Atlantis has seen a “quite substantial” 4.5 per cent year-over-year increase in average daily room rates (ADRs) for the upcoming peak Christmas/New Year season, a growth rate exceeding industry norms.
Gov’t urged: Don’t lose momentum on ‘sole tax panacea’
The Government has been urged to set a date for the Central Revenue Agency’s (CRA) creation, the Tax Coalition’s chair fearing that momentum on a tax compliance “panacea” may be lost.
BIA chair warns on Brexit's potential to impact FDI, banking
The Bahamas Insurance Association's (BIA) chairman yesterday warned it was currently impossible to predict how the UK's European Union (EU) exit will impact the Bahamas, adding: "The only certainty is uncertainty".
S&P: Gov’ts fiscal, economic reforms ‘will take time’ to work
* 1.5% average growth forecast lower than IMF’s * Grand Lucayan closure takes out 7% of rooms * Debt to rise through 2020 to 52% of GDP
THE Government’s fiscal and economic reforms will take time to “pay dividends”, Standard & Poor’s (S&P) warned yesterday, as it took a more ‘bearish’ view of the Bahamas’ growth prospects. The rating agency, in its latest Bahamas country assessment, expressed confidence that the Minnis administration’s fiscal reforms will “arrest the deterioration” in the Government’s deficit and the national debt.
$60m project 'hits the pedal'
By NEIL HARTNELL Tribune Business Editor An eastern New Providence real estate development is set to take its full capital investment to $60 million by year-end, after its weekend 'open house' produced a "phenomenal turnout" of 400 visitors and five prop
$60m project 'hits the pedal'
By NEIL HARTNELL Tribune Business Editor An eastern New Providence real estate development is set to take its full capital investment to $60 million by year-end, after its weekend 'open house' produced a "phenomenal turnout" of 400 visitors and five prop
LANDFILL SOLUTION REMAINS 20-30MW WASTE-ENERGY PLAN
By NEIL HARTNELL Tribune Business Editor The Government is still targeting a waste-to-energy plant that could produce 7-10 per cent of the Bahamas Electricity Corporation's (BEC) installed capacity as the 'end game' solution for the Tonique Williams-Darl
Attorney demands promotional body for Grand Bahama
A leading Freeport attorney yesterday demanded that the Grand Bahama Port Authority (GBPA) and Hutchison Whampoa be required to finance a Professional Marketing Organisation (PMO) to internationally promote what he described as “the forgotten island”.
VAT guidance notes undermine core financial sector policy
The Government’s “inconsistent” Value-Added Tax (VAT) positions are threatening to undermine core financial services policy objectives, a top QC warned yesterday, threatening a loss of competitiveness and high-value business.
BPL pledges: You’ll have ‘soft landing’ on extra charge
BAHAMAS Power & Light’s (BPL) chairman yesterday pledged to make “the landing as soft as possible” for Bahamian consumers when it adds a debt servicing charge to their bills.
VAT readiness: PM warned that 'Clock ticking'
Prime Minister Perry Christie has been warned that “the clock is ticking” on the private sector’s Value-Added Tax (VAT) readiness, a Tax Coalition co-chair yesterday calling for the revised legislation and regulations to be published “as soon as possible”.
ICON-ic product puts Fund administrators 'more on the hook'
While Bahamian fund administrators will be “much more on the hook” than with similar structures, a senior industry executive says the “rewards” from an ICON-ic launch will be worth the risk.
Oil explorer: New fiscal regime does not apply to us
The Bahamas Petroleum Company’s (BPC) chief executive yesterday said the Government’s increased ‘take’ from oil exploration would not apply to its activities, because its fiscal terms were already set.
BAHAMAS URGED: ADDRESS FINANCIAL LAW WEAKNESSES
By NEIL HARTNELL Tribune Business Editor The US government has again urged the Bahamas to strengthen its anti-terror financing laws and make membership of organised criminal gangs a criminal offence, according to a recently-released US State Department r
Telecom provider pledges ‘unheard of’ service levels
A newly-launched telecommunications provider yesterday promised “unheard of” service quality levels for the Bahamian market, as it will incur financial penalties for failing to meet customer expectations.
‘Lots of muscle’ required for $142m toxic BOB pile
The Bank of The Bahamas bail-out vehicle must now employ “lots of muscle” to recover its remaining “toxic” loan collateral valued at $142m, its chairman revealed yesterday.
