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Freeport investment law blasted as ‘anti-business’
Freeport’s new tax incentives law was yesterday branded an “abomination” and “anti-business” by an FNM Senator, who argued that it will undermine both the city’s founding agreement and economic growth.
Baha Mar remains Gov’ts economic ‘Achilles heel’
THE Bahamas Chamber of Commerce’s (BCCEC) chief executive yesterday said he was “sceptical on the timelines” for a Baha Mar resolution, describing the $3.5 billion project as the Government’s economic “Achilles heel”.
Don’t make Moody’s a ‘political football’
The Bahamas will have “no one to blame but ourselves” if Moody’s follows through with its threat of a potential ‘junk’ downgrade, the Chamber of Commerce’s chief executive yesterday urging all politic
Broker ‘in peril’ if it meets US demands
A Bahamian broker/dealer will “act at its peril” should it comply with US federal regulators’ demands to produce thousands of documents relevant to their ongoing New York legal battle.
Gov’t urged: Don’t lose momentum on ‘sole tax panacea’
The Government has been urged to set a date for the Central Revenue Agency’s (CRA) creation, the Tax Coalition’s chair fearing that momentum on a tax compliance “panacea” may be lost.
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”.
Freeport: Further uncertainty over VAT TIN demand
Fears are mounting that Freeport’s commercial environment is being further stifled by a new Customs edict that all Grand Bahama Port Authority (GBPA) licensees must obtain a VAT TIN number.
Leading importers face ‘major’ VAT uncertainty
Major importers were yesterday said to be facing “major” uncertainty over how Customs will calculate duty rates post-January 1, a factor that is preventing them from making essential computer system adjustments.
Air cargo pull-out threat result of ‘ill thought-out policy’
The threat of a Bahamas boycott by Florida-based air cargo operators was yesterday branded as “the unintended consequences of ill-thought out policy” by the Opposition’s deputy leader. K P Turnquest warned that as an import-dependent economy, reliant on international transportation links, the Bahamian economy could only suffer if freight companies reduced or eliminated services to this nation.
Second mobile operator begins launch process
Cable Bahamas yesterday said the clock had started running on the aggressive roll-out timetable for the second mobile operator to launch services to 99 per cent of New Providence within three months, after the Government approved its licensing.
Gov’t told: Don’t adjust tariffs at ‘last minute’
The Government was yesterday warned it has one month to inform auto dealers about whether the industry’s Excise Tax rates will be lowered to compensate for Value-Added Tax (VAT), otherwise it may see revenue generated by the sector drop-off in the New Year.
Bahamasair's $120m finance for new fleet
Two major global financial institutions have been hired to raise $120 million for Bahamasair before year-end, Tribune Business can reveal.
Shareholder outrage over ‘no change’ BOB
Bank of the Bahamas shareholders yesterday reacted with outrage over the decision to nominate the existing Board of Directors for re-election, one demanding: “Where does the buck stop?”
‘Deceptive indicators’ hurt Budget estimates
The Chamber of Commerce’s chairman believes the use of “misnomers and deceptive indicators” are causing the Government to consistently miss unrealistic Budget and fiscal targets.
Rival Bahamian bidders in fight for last Gov’t hotel
Rival Bahamian-led bids with strong Andros connections are battling to acquire the last government-owned hotel, Tribune Business can reveal, with at least one proposal focusing on eco-tourism. Prescott Smith, owner of Stafford Creek Lodge, confirmed to Tribune Business that he was heading one group seeking to buy the Fresh Creek-based Lighthouse Club from the Government-owned Hotel Corporation of the Bahamas.
‘No doubt over VAT chaos’ on January 1
A well-known businessman yesterday said he had “no doubt” the Government will be unable to seamlessly implement Value-Added Tax (VAT) come January 1, suggesting “chaos” would result from failing to promptly educate the private sector.
Baha Mar delay: ‘We’re all losers’
A leading businessman yesterday rounded on the “despicable critics” of Baha Mar’s principals, and said of the $3.5 billion project’s delayed opening: “We are all losers.”
BREA ‘emergency’ on ex-minister’s legal win
The Bahamas Real Estate Association’s (BREA) Board will tomorrow hold “an emergency meeting” to determine its response to losing a legal battle with a former Cabinet Minister.
Landfill chief: ‘Don’t read anything’ into our CEO transition
Renew Bahamas’ principal shareholder yesterday said “nothing can be read” into his stepping down as the New Providence landfill manager’s chief executive, as concerns persist over its financial health.
