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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.”
QC: Legalisation of web shops has defied the critics
The web shop industry’s legalisastion has produced the opposite effect to the predictions of many critcs, a well-known QC has argued.
$1.23M PREFERENCE PAYOUT CAUSES BOB INVESTORS Q1 LOSS
By NEIL HARTNELL Tribune Business Editors Bank of the Bahamas International's ordinary shareholders suffered a minor $141,676 loss during the institution's fiscal 2012 first quarter, as timing issues related to $1.231 million in preference share dividend
SECOND BAHAMIAN JOINS NAD TOP RANK
A second Bahamian has joined the Nassau Airport Development Company's (NAD) top executive ranks. Kevin McDonald has been appointed to the position of vice-president of maintenance and engineering, with effect from January 1, 2012. He will also become an
Freeport consultation ‘a matter of survival’
The negotiations over Freeport’s expiring tax breaks are “very much a matter of survival” for the Grand Bahama Port Authority’s (GBPA) 3,500 licensees, an outspoken QC arguing that these incentives are among the few “not completely breached” yet.
Sky Bahamas chiefs deny share allegation
SKY Bahamas' principals yesterday told Tribune Business they completely "deny" allegations by a former executive of the airline that they conspired to squeeze him out of his equity stake in the company, and recorded incorrect shareholdings in the Companies Registry.
THE 'BAHAMIAN DREAM' HAS SOURED FOR SO MANY
Anyone who reads the local newspapers cannot help but notice the large number of distressed Bahamian homes advertised for sale by banks under their mortgage powers. Never before in the history of the Bahamas have so many families suffered the humiliation,
Wilson: Ingraham responsible for Sth. Eleuthera’s ‘demise’
The developer adjacent to a newly-announced $100 million resort project believes they will together make Cotton Bay “the Caribbean’s premier destination”, as he blasted former Prime Minister Hubert Ingraham for decisions that caused South Eleuthera’s “demise”.
'Mixed bag': Auto sales 50% off peak
By NEIL HARTNELL Tribune Business Editor A leading auto dealer believes the industry will "eventually" recover to levels comparable to its 2007 peak, despite 2011's new car sales being almost 50 per cent down on that banner period in what was described a
Ex-minister: Dingman case 'waste of judicial resources'
Trying the $1.1 million damages claim against Jamie Dingman's failed Nassau restaurant empire in New York will be "a waste of judicial resources", a former Cabinet minister is arguing.
Baha Mar delay: ‘We’re all losers’
A leading businessman yesterday rounded on the “despicable critics” of Baha Mar’s principals, and said of the $3.5 billion project’s delayed opening: “We are all losers.”
Minister to activists: Don’t deny us jobs
A Cabinet Minister yesterday urged environmental activists to be “balanced and responsible” when launching legal actions against legitimate developers, warning that these could deny Bahamians much-needed “economic benefits”.
CLICO liquidator saves $670,000 from IRS clutches
CLICO liquidator saves $670,000 from IRS clutches By NEIL HARTNELL Tribune Business Editor CLICO (Bahamas) liquidator has freed up "significant cash" worth some $670,000 by negotiating a settlement of the US Internal Revenue Service's (IRS) tax claim ag
City Markets sale may close 'within 2 weeks'
City Markets sale may close 'within 2 weeks' By NEIL HARTNELL Tribune Business Editor City Markets' weekend 'Blow Out' sale was designed to clear all existing inventory prior to the supermarket chain's purchase, its current majority owner revealing a de
Unions’ strike threat ‘like child’s tantrum’
Trade unions have been urged not to “throw a child’s tantrum” over the Sandals situation, the Chamber of Commerce’s chairman warning against any strike action that would “cripple” businesses.
Mayaguana deal 'tremendous coup' for government
Mayaguana deal 'tremendous coup' for government By NEIL HARTNELL Tribune Business Editor The Hotel Corporation's chairman has described the revised Heads of Agreement for the I-Group's Mayaguana development as "a tremendous political coup" for the Ingra
LAND PURCHASERS URGED: DON'T USE VENDOR'S ATTORNEY
By NEIL HARTNELL Tribune Business Editor Arawak Homes executives yesterday warned Bahamians not to use the same attorney as the seller when purchasing real estate, given the potential for 'conflicts of interest' to arise. Speaking after the developer won
AML Foods closes Carl’s Jr franchise
AML Foods has decided to pull the plug on its Carl’s Jr franchise and close all three outlets, Tribune Business confirmed yesterday, although no job losses will result.
Contractors Association: No Baha Mar woe reports yet
Senior Bahamian Contractors Association (BCA) executives say they have yet to receive reports of local construction companies not getting due payments for work done on the $3.5 billion Baha Mar project.Senior Bahamian Contractors Association (BCA) executives say they have yet to receive reports of local construction companies not getting due payments for work done on the $3.5 billion Baha Mar project.
Financial service executive settles on $615k 'offer'
By NEIL HARTNELL Tribune Business Editor A Bahamian financial services executive has settled an action brought against him by Canadian regulators over a "false, misleading" $615,000 securities offering, agreeing to accept "the reduced charge of acting ag
