All results / Stories / Neil Hartnell
PHA: 20% local spend rise rebuts ‘wipe out’ fears
The Public Hospitals Authority (PHA) yesterday said the 20 per cent increase in spending with Bahamian pharmaceutical wholesalers over a two-year period proves that fears it is intent on “wiping out” the industry are groundless.
$20M FIRE LOSSES 'UNPRECEDENTED'
By NEIL HARTNELL Tribune Business Editor A leading Bahamian general insurer yesterday said the pre-recession 60/40 split in its auto book had been reversed in favour of third party coverage, with 2011 an "unprecedented" year for large fire-related claims
CREDIT BUREAU TARGET FOR END 2012/START 2013
By NEIL HARTNELL Tribune Business Editor A Bahamian credit bureau should be established by "the latter part of this year or early 2013", the Central Bank's governor has told Tribune Business, with its activation designed to prevent the almost-20 per cent
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
Bahamas ‘falls off map’ on Caribbean hospitality lending
The Bahamas has ‘dropped off the map’ among traditional bank lenders to the hotel/tourism industry, with this nation failing to feature among the top 10 Caribbean destinations for new lending.
Bahamas faces major tax, exchange control shake-up
The Bahamas may have to completely overhaul its corporate and taxation structure to escape European Union/OECD ‘blacklisting’ threats, the Attorney General revealed yesterday.
FUND 'BELOW PAR' AFTER 50% VACANCY CUT FAILURE
By NEIL HARTNELL Tribune Business Editor The Bahamas Property Fund's failure to cut the 20 per cent vacancy rate at its flagship Bahamas Financial Centre by half meant its 2011 performance fell "slightly below expectations", although last May's Bahamian
‘No doubt over VAT chaos’ on January 1
A well-known businessman yesterday said he had “no doubt” the Government will be unable to seamlessly implement Value-Added Tax (VAT) come January 1, suggesting “chaos” would result from failing to promptly educate the private sector.
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
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.
‘Unenviable balancing act’ confronting The Bahamas
The Bahamas “faces an unenviable balancing act between food security and fiscal discipline”, the Inter-American Development Bank (IDB) warned yesterday, with global financial developments proving “particularly concerning”.
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
