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BANK IS FACING 50,000 ACCOUNT PROBE ON FATCA
By NEIL HARTNELL Tribune Business Editor Commonwealth Bank yesterday said it was facing the prospect of 'drilling down' into an estimated 50,000 client accounts to determine if there was any US beneficial ownership connection, while telling Tribune Busin
Payroll tax unable to cover NHI
A 3 per cent payroll tax will not be sufficient to cover the proposed National Health Insurance (NHI) scheme’s total costs, the private sector yesterday warning that sticking to a January 2016 implementation will create a “challenging sprint to the finish”.
Gov’t renews oil explorer’s four licences
A Bahamas-based oil explorer last night said it had obtained “hugely significant clarity” from the Government renewing its key licences for a further three years, removing a potential obstacle to finding a joint venture partner and drilling its first exploratory well.
'WHAT'S CHANGED' ON BAHAMASAIR GB AIRLIFT PLANS?
By NEIL HARTNELL Tribune Business Editor The head of a Bahamian privately-owned airline has expressed scepticism over plans to solve Grand Bahama's tourism woes via Bahamasair servicing five US markets, asking Tribune Business: "What's changed?" Acknowle
'WHAT'S CHANGED' ON BAHAMASAIR GB AIRLIFT PLANS?
By NEIL HARTNELL Tribune Business Editor The head of a Bahamian privately-owned airline has expressed scepticism over plans to solve Grand Bahama's tourism woes via Bahamasair servicing five US markets, asking Tribune Business: "What's changed?" Acknowle
'WHAT'S CHANGED' ON BAHAMASAIR GB AIRLIFT PLANS?
By NEIL HARTNELL Tribune Business Editor The head of a Bahamian privately-owned airline has expressed scepticism over plans to solve Grand Bahama's tourism woes via Bahamasair servicing five US markets, asking Tribune Business: "What's changed?" Acknowle
Superwash chief: VAT bites 12-14% off key products
A leading businessman says the Bahamian economy is stuck "in a funk" as Value-Added Tax's (VAT) full impact starts to bite, with sales in two of his key product categories down 12-14 per cent. Dionisio D'Aguilar, Superwash's president, told Tribune Business that the Bahamas desperately needed to change its attitude towards "rebooting the economy" and making it easier to conduct business.
BAHAMAS TO BECOME 'CRUISE NO.1' IN 2012
By NEIL HARTNELL Tribune Business Editor The Bahamas is expected to "exceed" and surpass Cozumel as the Caribbean's leading cruise destination if it maintains its current growth rate, the minister of tourism said, with 2011 stopover visitors to this nati
PRIVATISATION CAN 'HOLD BAHAMAS TO RANSOM'
By NEIL HARTNELL Tribune Business Editor A leading activist yesterday urged the Government not to privatise the energy and water industries on the grounds that foreign buyers could "hold the Bahamas to ransom", adding that this nation had "not begun to s
Gov’t ‘won’t ruin’ economy revival with labour laws
* Minister reassures private sector on changes * No move on ‘controversial’ issues yet * Will only proceed if business/union ‘consensus’
THE Government “will not do anything to ruin” efforts to revive the Bahamian economy, a Cabinet Minister pledged yesterday, as he sought to reassure businesses over labour law reforms. Dion Foulkes, the Minister of Labour, told Tribune Business that the Minnis administration had yet to move on “contentious” election commitments to raise the 12-year redundancy pay ‘cap’ and increase the notice period for terminated employees.
QC: VAT rejected if no ‘value for money’
The Bahamian people will not accept Value-Added Tax (VAT) unless the Government convinces them they will receive “value for money” in return, a top QC warned yesterday.
'Unsustainable' costs drive Old Fort Club's 67% fee rise
By NEIL HARTNELL Tribune Business Editor The exclusive Old Fort Bay club yesterday warned members it had "no alternative" but to implement the first ever increase in annual membership dues, raising them by 67 per cent to $5,000 per year, given that costs
'UNSUSTAINABLE' COSTS DRIVE OLD FORT CLUB'S 67% FEE RISE
By NEIL HARTNELL Tribune Business Editor The exclusive Old Fort Bay club yesterday warned members it had "no alternative" but to implement the first ever increase in annual membership dues, raising them by 67 per cent to $5,000 per year, given that costs
Hotels target 'modest increase' for 2012 Q1
By NEIL HARTNELL Tribune Business Editor The Nassau/Paradise Island hotel industry is hoping to enjoy "a modest increase in all key metrics" for January and the 2012 first quarter, the Bahamas Hotel Association's (BHA) president last night pointing out t
GB Power urged: Don’t seek quick $25m recovery
Grand Bahama Power Company (GBPC) and its majority owner were yesterday urged not to target “the shortest period of time” to recover their $25 million in Matthew restoration costs from storm-devastated consumers.
'STRAW THAT BREAKS THE CAMEL'S BACK'
By NEIL HARTNELL Tribune Business Editor Failure to implement crime-prevention methods "could be the straw that breaks the camel's back" for many struggling Bahamian companies, private sector leaders warned yesterday, with "slack" businesses more suscept
'STRAW THAT BREAKS THE CAMEL'S BACK'
By NEIL HARTNELL Tribune Business Editor Failure to implement crime-prevention methods "could be the straw that breaks the camel's back" for many struggling Bahamian companies, private sector leaders warned yesterday, with "slack" businesses more suscept
Port 'dismayed' by Shenanigan's
The Grand Bahama Port Authority (GBPA) has described itself as "dismayed" by criticisms from a Bahamian businessman who closed his Port Lucaya Marketplace restaurant blaming high rents, arguing that he had been "unresponsive" to attempts to resolve the si
Port 'dismayed' by Shenanigan's
The Grand Bahama Port Authority (GBPA) has described itself as "dismayed" by criticisms from a Bahamian businessman who closed his Port Lucaya Marketplace restaurant blaming high rents, arguing that he had been "unresponsive" to attempts to resolve the si
BAHAMAS AT 'TOP OF PACK' ON WEALTH MANAGEMENT
By NEIL HARTNELL Tribune Business Editor Revised legislation will leave the Bahamas "at the top of the pack" among Caribbean financial centres when it comes to private wealth management, the Attorney General told Tribune Business yesterday. Lauding amend
