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Realtor: 2% office vacancy increase 'not encouraging'
Vacancy rates for ‘Class B’ office space on New Providence have increased by 2 per cent since 2011, a leading realtor yesterday saying: “It’s not an encouraging outlook.”
Exuma resort stages world hockey first
Grand Isle Resort & Spa and the Bahamas shared an unusual world first last week when professional hockey players, decorated Olympians and hotel guests faced off in a road hockey game on the island of Farmer’s Cay.
CIBC: ‘No choice’ but to cut 66 jobs
CIBC First Caribbean International Bank (FCIB) yesterday confirmed plans to cut 66 jobs from its Bahamian workforce, revealing that those posts would be outsourced to Jamaica.
Governor to Gov't: Act quickly on web shop 'vulnerability'
The Central Bank’s governor last night effectively urged the Government to get a move on in addressing the “vulnerability” caused by unregulated web shop gaming, warning it threatened to undermine plans for a Bahamian Credit Bureau.
Realtor demands $220k over Davis & Co HQ sale
A well-known realtor has slammed several attorneys for “jerking me around” over his $220,000 commission for the sale of a prominent East Bay Street building, telling Tribune Business: “They’re treating me like a step child.”
Cable's $100m issue to slash debt costs
Cable Bahamas is aiming to slash interest costs by up to two percentage points via its $100 million preference share restructuring, revealing to Tribune Business yesterday that its Florida and local growth initiatives are “on plan”.
Why VAT is 'most attractive' option
By John S. Bain Managing partner at UHY, Bain & Associates
Hotels set to 'surpass banner years' by 2015
The Bahamian hotel industry believes it will approach its pre-recession “banner years” in 2014 and “surpass” them next year, its president said yesterday, with the sector’s confidence levels reaching 97 per cent.
'Too early to celebrate the recession end'
Value-Added Tax (VAT) will likely increase costs for each commercial bank by “several million dollars” annually, a top banker yesterday warning: “It’s still too early to celebrate the end of the recession.”
FINCO: Bad loans six times' higher than pre-08 crash
RBC FINCO yesterday said that while its non-performing loan portfolio had “stabilised” at a total $104 million, this represented a sum up to six times’ the worth of pre-recession bad loans.
$29m GB subsidy claim 'misleading'
The GOVERNMENT’S claims that it has had to subsidise Freeport economy to the tune of $29 million were described yesterday as “a bit disingenuous” and “misleading”, a Free National Movement (FNM) MP stating that Grand Bahama was “no charity case”.
Realtor: Bahamas must 'get on map' in Dubai
The Bahamas needs to establish a physical commercial, as well as diplomatic, presence in the United Arab Emirates (UAE) if it is to make further inroads into attracting investment and high-end Middle East investors, a leading realtor said yesterday.
Realtor: VAT 'sell' critical to foreign buyer confidence
A leading realtor yesterday said he would “love” for his firm to beat 2013’s 35 per cent increase in total transaction value, but warned that much depends on how the Bahamas “sells” Value-Added Tax (VAT) to foreign investors.
Saints are champions
The St Augustine’s College Big Red Machine captured two of the Bahamas Association of Independent Secondary Schools’ basketball championship titles. The other two went to the Kingsway Academy Saints and the Queen’s College Comets.
Payroll tax to have 1/5 of VAT inflation impact
A 5 per cent payroll tax would have just ‘one-fifth’ of Value-Added Tax’s (VAT) price inflation impact, a leading businessman suggesting it would protect consumers and “not throw the economy into recession”.
BTC in 'substantial' $1m VAT systems bill
Thousands of Bahamas Telecommunications Company (BTC) pre-paid cellular customers will see their calling costs increase 15 per cent under Value-Added Tax (VAT), with the carrier itself set to incur a “substantial” $1 million bill just to make its systems compliant.
Wilson: Gov't 'unwise' to ignore VAT fears
The Government’s biggest private sector supporter believes it would be “unwise” to ignore the “widespread opposition” to Value-Added Tax (VAT), as he appeared to back the merits of a payroll tax alternative.
Video highlights fears for dolphins at Blackbeard's Cay facility
ENVIRONMENTALISTS are continuing their opposition to the dolphin facilities at Blackbeard’s Cay with the release of a YouTube video documenting a fact finding exhibition to the development led by Re-Earth’s Sam Duncombe.
Tourism labels 2014 VAT 'unacceptable'
The Bahamian hotel industry yesterday urged the Government to push the Value-Added Tax (VAT) implementation deadline back into 2015, warning this had to be got right first time to avoid “killing the goose that lays the golden egg”.
Renewable energy fearing 'significant harm' from VAT
Bahamian renewable energy providers yesterday warned of “significant harmful effects” if the sector is subject to 15 per cent Value-Added Tax (VAT), adding that it would undermine a key aspect of government policy.
