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Baha May delay’s 50% cut to growth

Baha Mar’s delayed opening could potentially slash 50 per cent off the Bahamas’ 2015 economic growth forecast, a well-known businessman has warned.

Competition fears on Super Value's City Markets 'deal'

By NEIL HARTNELL Tribune Business Editor Rival food retailers have voiced fears that allowing Super Value to acquire City Markets' remaining stores would create a "virtual monopoly" in the New Providence supermarket business, with an estimated 60-80 per

Competition fears on Super Value's City Markets 'deal'

By NEIL HARTNELL Tribune Business Editor Rival food retailers have voiced fears that allowing Super Value to acquire City Markets' remaining stores would create a "virtual monopoly" in the New Providence supermarket business, with an estimated 60-80 per

Mortgage finance 'biggest hurdle' to housing recovery

Mortgage financing access remains "the biggest hurdle" to reviving the domestic real estate market, causing up to three deals for the same property to fall through.

CIBC: Bahamas worst for ‘bad’ mortgages

CIBC’s top Caribbean executive yesterday revealed that the “magnitude” of non-performing home loans in the Bahamas was “greater than anywhere else” in the region, this nation accounting for 50 per cent of the bank’s ‘bad’ mortgages.

Tax delinquents warned to brace for ‘shock treatment’

Major tax defaulters were yesterday warned to brace for “shock treatment” from the Government’s recently-unveiled tax crackdown, the Bahamas Chamber of Commerce’s (BCCEC) chairman giving his “strong support” to the initiative.

Bahamians urged: Show ‘more ‘outrage’ over financial crimes

BAHAMIANS were yesterday urged to show “more outrage” over financial crime and poor business practices, a prominent cleric arguing that these had become “entrenched in our culture”.

Gas station warning of New Year lay-offs

A gas station operator yesterday warned the 24 percent minimum wage increase will “almost certainly” force the sector to cut staffing levels unless the Government grants a long-awaited margin increase.

$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.

BTC to complete Abaco cell overhaul in mid-May

THE Bahamas Telecommunications Company (BTC) is set to complete its wireless system overhaul on Abaco and the northern Bahamas by mid-May, giving customers improved cellular service, including faster speeds for downloads and browsing on smart phones.

74% 'PERSONAL' CREDIT IMPEDES DEVELOPMENT

By NEIL HARTNELL Tribune Business Editor The Bahamas' development is being "seriously impacted" because its citizens are unable to invest in key productive areas, such as energy and transportation, due to almost 74 per cent of credit going on 'personal'

OIL EXPLORER UNVEILS 'BAHAMIANISE' PLAN

By NEIL HARTNELL Tribune Business Editor A Bahamas-based oil exploration company's Environmental Impact Assessment (EIA) is expected to be released for public consultation on January 23 next year, the company also unveiling plans to "Bahamianise" through