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Credit union member growth expands 29%

By NEIL HARTNELL Tribune Business Editor Bahamian credit unions have outpaced commercial banks through an average total asset growth rate of 9.25 per cent over the past five years, the Central Bank's governor said yesterday, their collective membership h

RENEWABLE ENERGY 'AMAZING CHANCE' FOR DIVERSIFICATION

By NEIL HARTNELL Tribune Business Editor The Bahamas has an "incredible opportunity" to diversify its economy by becoming a renewable energy exporter, a leading Caribbean expert yesterday saying it could emulate Israel's 92 per cent penetration rate if i

Gov’t plans to narrow VAT payment window

The Government yesterday unveiled plans to shrink the Value-Added Tax (VAT) payment window by seven days, and other revenue enforcement measures, amid the numerous tariff rate cuts consistent with a pre-election Budget.

SKY'S THE LIMIT FOR $270K ROUTE INVESTMENT

By NEIL HARTNELL Tribune Business Editor Sky Bahamas expects to start seeing a return on its $270,000 investment in building its Marsh Harbour-West Palm Beach route in three months' time, telling Tribune Business it cost Bahamian-owned airlines twice as

Florida court blocks $7.59m Bahamas ruling

A contractor’s bid to enforce a $7.59 million Bahamas Supreme Court judgment against a major global hotel chain has been blocked by a Florida appeals court, which ruled the latter was not involved in a $1 billion Bahamian joint venture.

Gov't pushes deficit elimination forecast back three years

The Government has pushed back its original projections for eliminating the fiscal deficit by three full years, and is now pinning its hopes on a $449 million, four-year 'swing' into surplus.

$500M REVENUE RISE NO FISCAL GAP BRIDGE

By NEIL HARTNELL Tribune Business Editor The Government's annual fiscal deficit averaged more than $170 million during the 2002-2008 'economic boom' years despite an almost $500 million rise in revenues over that period, showing that reining in out-of-co

Tax crackdown: Govt hits 6,000 businesses, 5,000 property owners

The Government last night unveiled its promised crackdown on tax defaulters, promising to first pursue the largest, wealthiest delinquents - some 6,000 businesses and 5,000 high-end property owners.

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.

Atlantis eyes 100k extra room nights in Marriott tie-up

Atlantis is hoping its 10-year franchise deal with Marriott International will generate an extra 50,000-100,000 room nights per year, its top executive describing the agreement as “the most significant tourism stimulus for the Bahamas this decade”.