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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.
PRIVATE SECTOR LOAN DEFAULTS HIT $301M
By NEIL HARTNELL Tribune Business Editor Almost one-third of commercial bank loans to Bahamian businesses are in arrears, something the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman described as a sign that economic recovery
$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.
CHAMBER CHIEF 'VERY CONCERNED' AT $300M BAD BUSINESS LOANS
By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday described as "very concerning" the almost-$300 million worth of 'bad loans' to the private sector, with January's $10.6 mill
CHAMBER CHIEF 'VERY CONCERNED' AT $300M BAD BUSINESS LOANS
By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday described as "very concerning" the almost-$300 million worth of 'bad loans' to the private sector, with January's $10.6 mill
2,000 homeowners 'non-performing'
2,000 homeowners 'non-performing' By NEIL HARTNELL Tribune Business Editor An estimated 1,500-2,000 Bahamian homes have mortgage loans that are more than 90 days past due, the Clearing Banks Association (CBA) told Tribune Business yesterday, with the se
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."
De-risk 'client migration' to benefit larger banks
Correspondent bank 'de-risking' could drive another wave of Bahamian financial services consolidation by sparking "client migration" to larger institutions, a former finance minister has warned.
$150M TRUST URGED TO RESCUE HOUSING MARKET
By NEIL HARTNELL Tribune Business Editor The Government was yesterday urged to invest $100-$150 million into a Foreclosure Trust as a way to solve this nation's mortgage/housing crisis, a well-known businessman telling Tribune Business that the returns g
Hotel union on gratuity ‘red alert’
The Bahamas Hotel Catering & Allied Workers Union (BHCAWU) yesterday said it had placed its members on ‘red alert’, amid fears that other New Providence hotels will attempt to follow Baha Mar’s lead and eliminate the 15 per cent gratuity enjoyed by hotel employees.
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
'ENTHUSIASTIC' FAMILY ISLAND IPO RESPONSE
The Arawak Port Development Company (APD) said the response from potential Family Island investors to its $10 million initial public offering (IPO) had been enthusiastic, after its principals undertake a nationwide roadshow to tout the offering's prospect
'ENTHUSIASTIC' FAMILY ISLAND IPO RESPONSE
The Arawak Port Development Company (APD) said the response from potential Family Island investors to its $10 million initial public offering (IPO) had been enthusiastic, after its principals undertake a nationwide roadshow to tout the offering's prospect
'ENTHUSIASTIC' FAMILY ISLAND IPO RESPONSE
The Arawak Port Development Company (APD) said the response from potential Family Island investors to its $10 million initial public offering (IPO) had been enthusiastic, after its principals undertake a nationwide roadshow to tout the offering's prospect
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.
$30m Town Centre 'shooting' for Xmas 2012 completion
$30m Town Centre 'shooting' for Xmas 2012 completion By NEIL HARTNELL Tribune Business Editor New Providence Development Company is "aggressively shooting" to have its $30 million Old Fort Bay Town Centre fully operational by Christmas 2012, Tribune Bus
$30m Town Centre 'shooting' for Xmas 2012 completion
$30m Town Centre 'shooting' for Xmas 2012 completion By NEIL HARTNELL Tribune Business Editor New Providence Development Company is "aggressively shooting" to have its $30 million Old Fort Bay Town Centre fully operational by Christmas 2012, Tribune Bus
$30m Town Centre 'shooting' for Xmas 2012 completion
$30m Town Centre 'shooting' for Xmas 2012 completion By NEIL HARTNELL Tribune Business Editor New Providence Development Company is "aggressively shooting" to have its $30 million Old Fort Bay Town Centre fully operational by Christmas 2012, Tribune Bus
