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DON'T SETTLE FOR A SURVIVAL 'RUT'
By Ian Ferguson A paradigm is defined as a mindset or pattern of behaviour that appears to be the established norm. A paradigm shift, though, is the force driving individuals and organisations out of that prevailing mindset, propelling them towards a bri
Air freight operators in Bahamas boycott threat
Florida-based air cargo companies are threatening to boycott the Bahamas over the new Customs fees and fines set to be introduced tomorrow, with this newspaper told: “It’s D-Day time.”
Bank braces for $2.4m tax impact
Bank of the Bahamas is bracing for a $2.4 million fourth quarter hit from the 3 per cent ‘bank tax’ unveiled in the 2013-2014 Budget, its managing director yesterday expressing “cautious optimism” it would return to profitability in its 2015 financial year.
US gov't report 'tremendous blow' to FDI attraction
US government criticisms have dealt “a tremendous blow” to the Bahamas’ prospects of attracting increased foreign direct investment (FDI) at a time when this nation most needs it, the Democratic National Alliance’s (DNA) leader said yesterday.
HOME BUYERS LOSE $81K OVER STAMP DUTY 'LOOPHOLE'
By NEIL HARTNELL Tribune Business Editor Some 32 first-time Bahamian home buyers have collectively lost almost $81,000 because there is nothing in statute law to allow the refund of Stamp Duty mistakenly paid on their real estate purchases, it was reveal
HOME BUYERS LOSE $81K OVER STAMP DUTY 'LOOPHOLE'
By NEIL HARTNELL Tribune Business Editor Some 32 first-time Bahamian home buyers have collectively lost almost $81,000 because there is nothing in statute law to allow the refund of Stamp Duty mistakenly paid on their real estate purchases, it was reveal
HOME BUYERS LOSE $81K OVER STAMP DUTY 'LOOPHOLE'
By NEIL HARTNELL Tribune Business Editor Some 32 first-time Bahamian home buyers have collectively lost almost $81,000 because there is nothing in statute law to allow the refund of Stamp Duty mistakenly paid on their real estate purchases, it was reveal
BEC survives a fuel ‘emergency’
The Bahamas Electricity Corporation (BEC) suffered an “emergency situation” on Wednesday night after it almost ran out of fuel due to bad weather disrupting shipping.
BAHAMAS 'UNAWARE' OF FINANCIAL 'WATCH LIST' PLACEMENT
By NEIL HARTNELL Tribune Business Editor A government minister last night said the Ingraham administration "was not aware of any international concerns" relating to the Bahamian financial services industry, after reports surfaced that this nation had bee
Baha Mar becoming ‘huge white dinosaur’
A former Baha Mar director yesterday warned that the Government will soon “have a huge white dinosaur on their hands”, despite the project’s secured creditor promising that a solution is being developed.
Miller denies running own BEC bid process
Leslie Miller has denied running his own bidding process for the Bahamas Electricity Corporation (BEC), even though one energy group says he encouraged them to submit a proposal after they were kicked out of the official tender.
Corporate redress regime upheld with $33m verdict
The Supreme Court has prevented the Bahamas being perceived as “a parochial, quirky jurisdiction” for international business through its recent ruling on a $33 million insolvency dispute, a former attorney general said yesterday.
‘Farcical’: Govt picks up ‘entire’ $40m BOB issue
Bank of the Bahamas’ 3,000 minority shareholders have demonstrated their “complete lack of confidence” in the bank after forcing the Government to pick up its “entire” $40 million rights offering.
Pensioners left with 30% in City Markets HQ sale
* Claim trustees ‘not acting in our best interest’ * Trustees retain 27% of $3m sale to AML Foods * And lawyer paid almost one-third of proceeds
City Markets pensioners have been “kept in the dark” over the $3 million sale of the plan’s main asset, with just 30 per cent of the proceeds seemingly left for their benefit.
IDB TO BAHAMAS: RUN 2.5% PRIMARY SURPLUS
By NEIL HARTNELL Tribune Business Editor The Bahamas was yesterday warned to "pick up the pace" of fiscal reform, the Inter-American Development Bank's (IDB) top Caribbean economist saying this country needed to achieve primary Budget surpluses equivalen
NO 'OPEN DOORS' FOR $8BN-$10BN INDUSTRY
By NEIL HARTNELL Tribune Business Editor A potential $8-$10 billion industry lies beneath Bahamian waters if its development is handled correctly, a local archaeological salvage expert yesterday warning against an 'Open Doors' policy that would allow for
NO 'OPEN DOORS' FOR $8BN-$10BN INDUSTRY
By NEIL HARTNELL Tribune Business Editor A potential $8-$10 billion industry lies beneath Bahamian waters if its development is handled correctly, a local archaeological salvage expert yesterday warning against an 'Open Doors' policy that would allow for
'Level playing field' urged over Freeport bonded good reform
By NEIL HARTNELL Tribune Business Editor A leading wholesaler yesterday urged that any reforms to Freeport's 'bonded goods' economy create a "level playing field", and not place his firm and others at "a competitive disadvantage" by sucking money out of
Kerzner couldn't get 'unqualified' 2010 accounts
By NEIL HARTNELL Tribune Business Editor Kerzner International defaulted on its $2.5 billion loan agreement in May 2011, a lawsuit has alleged, with auditors unable to provide a set of 2010 'unqualified' financial statements for the Atlantis and One & On
Kerzner couldn't get 'unqualified' 2010 accounts
By NEIL HARTNELL Tribune Business Editor Kerzner International defaulted on its $2.5 billion loan agreement in May 2011, a lawsuit has alleged, with auditors unable to provide a set of 2010 'unqualified' financial statements for the Atlantis and One & On
