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Pilot sees 'accelerated' private aviation decline

Revenues from the private aviation sector will continue to decline at an “accelerated pace” if the Government does not roll-back “wrong headed fees” on the sector, an industry expert warned yesterday, calling on it to offer more incentives instead.

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PM: Economy poised for growth

DESPITE increased austerity measures for the public service, Prime Minister Perry Christie yesterday reassured businessmen that the economy is poised for sustained economic growth in 2014 and for the remainder of his government’s term.

VAT does 'not hit the rich'

Value-Added Tax (VAT) is not the best fiscal reform option for the Bahamas because “it does not hit the rich”, a leading financial analyst is arguing.

Deposit insurer facing upgrade

The Central Bank has moved to review the “legislative framework” for the Deposit Insurance Corporation, which saw its assets increase by $4.5 million to end 2013 at $32.1 million.

'Citizenship should be earned, not paid for'

A developer believes the Bahamas does not need an Investor Citizen programme because permanent residency is sufficient, adding: “Citizenship should be earned for who you are, not what you pay.”

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Harvest for the world

THE second decade of the 21st century has brought new challenges and opportunities for agriculture in the hemisphere, with the sector and the region increasingly being viewed as the next global breadbasket, a challenge as big as feeding the estimated world population in 2050: nine billion.

Bahamians urged: Don't comply with VAT until banks, web shops taxed

Bahamians have been urged not to comply with Value-Added Tax (VAT) until “the politicians pay their dues”, and the banks and web shops have been made ‘VAT-able’.

OPINION: Bank of Bahamas investors to enjoy bail-out boost

Let’s not mince words: Everyone in the commercial banking industry knew that Bank of the Bahamas has been in trouble for some time. The only questions were the size of the damage, and how the Government would fill the ‘hole’.

Developer claims residents were ‘inciting confrontation’

The Abaco Club’s principal has accused some Little Harbour residents of seeking to “incite confrontation” against him over its controversial 44-slip marina planned for that community.

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$4.4bn economic blow: 'Playbook out window'

The coronavirus and Hurricane Dorian are threatening to deal The Bahamas an “unprecedented” $4.4bn blow, with the deputy prime minister revealing yesterday: “The playbook is out the window.” K Peter Turnquest, speaking to Tribune Business after reve

Broker admits ‘improper use’ of $4m client monies

A Bahamian broker/dealer has admitted to using almost $4 million in client monies without permission to fund its own operating costs and business development initiatives, with regulators now moving to finally shut it down.

PM ‘20-30 years’ too late on legal opening demand

The Prime Minister’s call for the Bar Association to ‘open up’ to specialised foreign attorneys is 20-30 years past its sell-by date, a Bahamian financial services practitioner said yesterday.

Chamber readies Business Licence fee reform plans

The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) yesterday said it was preparing recommendations for “across the board” changes to the Business Licence fee regime, which will “benefit” both the Government and private sector.

AML back in line with 2014 via 5% Q3 rise

AML Foods believes the anticipated 5 per cent year-over-year sales increase for its third quarter may bring its top-line back in line with last year’s, with 2015 to-date performance beating budgeted expectations.

Port purchaser targeted 2,000 hotel room boost

A Grand Bahama Port Authority (GBPA) purchaser wanted to double the island’s hotel room inventory by 2,000 rooms, and was even interested in negotiating with the Government to privatise Bahamasair.

Gov’t to break $200m Treasury Notes mark

The Government is hoping to next week breach the $200 million mark for funds raised via its new Treasury Note security, with advisers confident the latest $25 million offering will be fully subscribed.

Gov’t targets $246m BEC reform ‘windfall’

The Government yesterday revealed a $246 million energy reform ‘windfall’ that will temporarily arrest the national debt’s increase, amid new revelations about BEC’s dire financial straits.

Aircraft registry can ‘parallel’ civil aviation reforms

The Government was yesterday urged by an aviation law specialist to develop a Bahamian international aircraft registry “in parallel” to its overhaul of the local industry’s regulatory oversight regime.

Bahamasair ‘like spoiled child’ on Business Licence

Bahamasair has been accused by a rival of “acting like a spoiled child” over having to pay Business Licence fees for the first time, a development that helps ‘level the playing field’.

Sports notes

THE Bahamas Association of Athletic Associations has announced that the final registration for the Open National Championships is today.