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Freeport investment law blasted as ‘anti-business’
Freeport’s new tax incentives law was yesterday branded an “abomination” and “anti-business” by an FNM Senator, who argued that it will undermine both the city’s founding agreement and economic growth.
IMF fiscal reform delays 'may jeopardise recovery'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
Atlantis 'savours' $1.9bn refinance
Atlantis was yesterday said to be “savouring” its completed $1.9 billion debt refinancing, its owner having invested some $500 million in the property since taking control two years ago.
Income-type tax ‘likely inevitable’, warns ex-minister
A FORMER financial services minister believes it is “probably inevitable” that the Bahamas will have to introduce some form of low-rate income tax, warning: “We’re not in the clear yet.”
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.
CAR DEALERS SUFFER $75M REVENUE HIT
By NEIL HARTNELL Tribune Business Editor Bahamas Motor Dealers Association (BMDA) members saw their collective sales revenues fall by more than $75 million over the first 10 months of the years between 2009-2011, one dealer suggested yesterday, although
CAR DEALERS SUFFER $75M REVENUE HIT
By NEIL HARTNELL Tribune Business Editor Bahamas Motor Dealers Association (BMDA) members saw their collective sales revenues fall by more than $75 million over the first 10 months of the years between 2009-2011, one dealer suggested yesterday, although
Bermuda learns from Arawak Port project
Arawak Port Development Company (APD) executives recently hosted Bermuda government officials on a tour of the $83 million Nassau Container Port and Gladstone Freight Terminal. Marc A.R. Bean, Bermuda's minister of environment, planning and infrastruct
CHAMBER CHIEF 'VERY CONCERNED' AT $300M BAD BUSINESS LOANS
By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday described as "very concerning" the almost-$300 million worth of 'bad loans' to the private sector, with January's $10.6 mill
CHAMBER CHIEF 'VERY CONCERNED' AT $300M BAD BUSINESS LOANS
By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday described as "very concerning" the almost-$300 million worth of 'bad loans' to the private sector, with January's $10.6 mill
Ex-Hard Rock franchisee queries transfer to ex-MP
Hard Rock Cafe's former Nassau franchisee has questioned why the business was so readily handed to its Bahamian landlord, when a decade earlier he had been "forced" to pay $1 million to end their partnership.
$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".
$40M 'CIVIL WAR' RAGES IN PARADISE
By NEIL HARTNELL Tribune Business Editor A full-scale civil war is raging between the developers and numerous residents of a $40 million Exuma-based real estate project, Tribune Business can reveal, the latter alleging there are difficulties with obtaini
$40M 'CIVIL WAR' RAGES IN PARADISE
By NEIL HARTNELL Tribune Business Editor A full-scale civil war is raging between the developers and numerous residents of a $40 million Exuma-based real estate project, Tribune Business can reveal, the latter alleging there are difficulties with obtaini
$40M 'CIVIL WAR' RAGES IN PARADISE
By NEIL HARTNELL Tribune Business Editor A full-scale civil war is raging between the developers and numerous residents of a $40 million Exuma-based real estate project, Tribune Business can reveal, the latter alleging there are difficulties with obtaini
Port's 25% growth hides missed trade potential
Freeport is failing to attract “a wider range” of businesses and become a true logistics/distribution hub, despite the Container Port outstripping all Caribbean rivals with 25 per cent cargo throughput growth.
Tourism ‘softness’ exposed with 7% room revenue fall
Tourism “softness” resulted in a 7 per cent year-over-year decline in peak winter room revenues for Nassau’s major hotels, with both occupancies and pricing coming under pressure.
Engineers chief: Our growth is being ‘stymied’
The Bahamas Society of Engineers (BSE) president yesterday bemoaned how local professionals were frequently being ‘frozen out’ of foreign direct investment (FDI) projects, with work “never touching our soil”.
CWC: BTC ‘lags’ region despite $75m investment
The Bahamas Telecommunications Company’s (BTC) controlling owner yesterday conceded that its network quality “lags” much of the Caribbean and wider world, despite increasing its capital investment by 47 per cent last year.
Car Show 'bounce' in 83-100% sales growth
BAHAMIAN new car dealers yesterday revealed that the Car Show "bounce" appeared to have returned in 2012, with April's sales up between 83-100 per cent month-over-month compared to March.
