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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
Court urged to halt BEC 'runaway train'
By NEIL HARTNELL Tribune Business Editor Opponents of the $105 million Wilson City power plant argued before the Court of Appeal that their Judicial Review action still has merit in preventing the Bahamas Electricity Corporation (BEC) from behaving "as a
LANDFILL SOLUTION REMAINS 20-30MW WASTE-ENERGY PLAN
By NEIL HARTNELL Tribune Business Editor The Government is still targeting a waste-to-energy plant that could produce 7-10 per cent of the Bahamas Electricity Corporation's (BEC) installed capacity as the 'end game' solution for the Tonique Williams-Darl
LAW FIRM BLASTS CUSTOMS OVER 'WHIMSICAL FANCY'
By NEIL HARTNELL Tribune Business Editor A leading Bahamian law firm yesterday blasted as "almost unbelievable" Customs' second effort within two years to allegedly disrupt Freeport's $70-$120 million 'bonded goods' economy, arguing that arbitrary requir
Ryan’s employer: Financial sector’s ‘great opportunity’
Ryan Pinder’s new employer believes the Bahamas has “a tremendous opportunity” in financial services if it is innovative, with its current recruitment drive intended to position the institution “for the next 20 years”.
RoyalFidelity funds enjoy $10m injection
RoyalFidelity Merchant Bank & Trust yesterday said investors had injected a collective $10 million into its three-strong domestic mutual fund family for the year to end-May 2014, aided by the low interest rate “perfect storm”.
SEC moving for sanctions against broker’s principal
US federal regulators are seeking sanctions and a default judgment against the Bahamian principal of a broker/dealer for failure to comply with a New York court’s order.
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 increasing airlift (access) costs to the Bahamas for Europe
Finlaysons eye JV partner for City Markets
By NEIL HARTNELL Tribune Business Editor The Finlayson family is seeking a joint venture partner that would acquire a majority equity stake in the City Markets supermarket chain from it, high-level sources have told Tribune Business, with talks being hel
Govt told: ‘Cut inefficient taxes across the board’
The Government was yesterday urged by a leading governance reformer to reduce “inefficient taxes across the board” so that it could make room for potential Value-Added Tax (VAT) rate increases.
FINCO in profit boost as bad loans hit $100m
FINCO in profit boost as bad loans hit $100m By NEIL HARTNELL Tribune Business Editor The $5.4 million boost from changes to its loan loss provisioning calculation enabled Finance Corporation of the Bahamas (FINCO) to enjoy a 3.18 per cent net income in
Cable blasts 'unfair advantage' for BTC
Cable blasts 'unfair advantage' for BTC By NEIL HARTNELL Tribune Business Editor Cable Bahamas has blasted the proposed licensing plan for a key wireless spectrum band for giving an "unfair advantage" to the Bahamas Telecommunications Company (BTC), urg
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.
OECD attacks like ‘unofficial blacklisting’ of the Bahamas
A former finance minister says the recent OECD-inspired media onslaught against the Bahamas is akin to an “unofficial blacklisting” of its financial services industry, describing the situation as “a new form of international colonialism”.
Mortgage Corp loan provisions $71m off norm
Mortgage Corp loan provisions $71m off norm By NEIL HARTNELL Tribune Business Editor The Bahamas Mortgage Corporation's (BMC) existing policy underestimates loan loss provisioning by more than $71 million, it was disclosed yesterday, its chairman unveil
Mortgage Corp loan provisions $71m off norm
Mortgage Corp loan provisions $71m off norm By NEIL HARTNELL Tribune Business Editor The Bahamas Mortgage Corporation's (BMC) existing policy underestimates loan loss provisioning by more than $71 million, it was disclosed yesterday, its chairman unveil
Mortgage Corp loan provisions $71m off norm
Mortgage Corp loan provisions $71m off norm By NEIL HARTNELL Tribune Business Editor The Bahamas Mortgage Corporation's (BMC) existing policy underestimates loan loss provisioning by more than $71 million, it was disclosed yesterday, its chairman unveil
Receivables over three times' Water Corporation target
By NEIL HARTNELL Tribune Business Editor Just how far the Water & Sewerage Corporation has to go to achieve financial viability has been highlighted by several key financial performance indicators, which show it currently enjoys a -44 per cent operating
Graycliff's Garzaroli honoured by CTO
Graycliff's Garzaroli honoured by CTO Roberta Garzaroli, president of The Atrebor Group, was last week honoured with the Jerry Award at the Caribbean Marketing Conference and Awards Luncheon. The 'Jerry' recognises Allied Members of the Caribbean Touris
