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Outrage over UK's 8% 'airlift tax' rise for the Caribbean

Outrage over UK's 8% 'airlift tax' rise for the Caribbean Caribbean hoteliers yesterday expressed outrage over the UK's decision not to change its Air Passenger Duty (APD) banding structure, with the 8 per cent increase set to be imposed from April 2012

MSC cruise port: No lease agreement yet

No agreement has yet been reached to transfer the lease of Ocean Cay to Mediterranean Shipping Company (MSC) for its private cruise port, with the current holder saying of the project: "It won't be done overnight."

Services Coalition ‘irony’ over WTO

Lack of private sector involvement has been a key factor in why the Bahamas’ bid for full World Trade Organisation (WTO) membership has lasted 15 years and counting, a former Securities Commission principal believes.

CCA: We’ll ‘be laughed at by world’ if Baha Mar not open

Top executives at Baha Mar’s main contractor voiced fears they would “be laughed at by the world” if the mega resort’s target 2015 opening was missed while admitting to multiple “shortcomings and deficiencies” in its construction.

Bank warns on provisions rise

By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling

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GB Power minimises $4.7m recovery effect

GB Power minimises $4.7m recovery effect By NEIL HARTNELL Tribune Business Editor The Grand Bahama Power Company (GBPC) has received regulatory approval to minimise the consumer impact of recovering a $4.7 million impairment charge by spreading it out o

BCA chief: 'Many smaller builders' oppose regulation

BCA chief: 'Many smaller builders' oppose regulation By NEIL HARTNELL Tribune Business Editor Many smaller Bahamian contractors do not support the Bahamian Contractors Association (BCA) or its push for legislation to regulate the industry, the latter's

Bank warns on provisions rise

By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling

BREAK FINANCIAL 'STATUS QUO' VIA 23% GDP GOAL

By NEIL HARTNELL Tribune Business Editor The financial services industry's direct GDP contribution could grow to 22-23 per cent within five-seven years if the Bahamas was bold enough to break with the "status quo" position it has maintained for the past

Bahamas can’t afford ‘another five years’ of secretive governance

The Bahamas cannot afford “another five-year cycle” of unaccountable government spending, a governance reformer warned yesterday, arguing that a Fiscal Responsibility Act should have “preceded” Value-Added Tax (VAT).

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Governor to ‘bridge gap’ between banks, web shops

The Central Bank’s governor has reaffirmed his commitment to “bridge the gap” between the commercial banking industry and web shop operators, and help ease his licensees’ compliance concerns.

Sixty-day termination notice ‘recipe for woe’

The National Tripartite Council’s co-chairman has branded the proposed ‘60-day advance notice’ that employers must give of impending redundancies as “a recipe for putting your business in trouble”.

12 union-saving law creates a ‘win-win’

The Government’s recent 12 union-saving legislation helped produce what one labour executive yesterday described as a “win-win” in the Court of Appeal, with a Harbour Island resort and its opposition both achieving their main objectives.

TUC chief: ‘jury still out’ on union-saving legislation

A trade union leader said yesterday that “the jury is still out” on whether the Government’s recent union-saving had truly “cured the mischief”, as one attorney confirmed he had filed for a Judicial Review over the issue.

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‘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.

Banks: SWITCH 'decision likely' by end-April

By NEIL HARTNELL Tribune Business Editor The commercial banking industry will "likely make some decisions" by end-April 2012 on the establishment of a local SWITCH network, something that will allow Bahamians debit card access to funds in their chequing

Banks: SWITCH 'decision likely' by end-April

By NEIL HARTNELL Tribune Business Editor The commercial banking industry will "likely make some decisions" by end-April 2012 on the establishment of a local SWITCH network, something that will allow Bahamians debit card access to funds in their chequing

Banks: SWITCH 'decision likely' by end-April

By NEIL HARTNELL Tribune Business Editor The commercial banking industry will "likely make some decisions" by end-April 2012 on the establishment of a local SWITCH network, something that will allow Bahamians debit card access to funds in their chequing

SPEED WEEK CHIEF EYES 2,500-3,000 EXTRA ROOM NIGHTS

By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week's president has estimated that the revival event generated between 2,500-3,000 room nights for the Bahamian hotel industry, describing its economic impact as "quite substantial". While Bahamas S

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‘No guarantees’ for web shops

Web shop operators were yesterday said to be “very concerned” over the uncertainty and lack of any guarantees surrounding the industry’s impending legalisation.