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Mega hotels must collaborate to hit 'even keel' state

The Government and major hotels need to collaborate on a “brand Bahamas” strategy to prevent ‘cannibalisation’ and ensure the industry remains on “an even keel”, a former tourism minister urged yesterday.Obie Wilchcombe told Tribune Business that the

Watson: No party has advantage ahead of election

THE 2017 general election will be a measure of pitch-perfect campaigns rather than base support or popularity, according to former Deputy Prime Minister Frank Watson, who yesterday projected that no political party held any “real” advantage going into the polls.

Bahamas not ready for exchange control end

The Bahamas is not ready for any “outright removal” of exchange controls, the Central Bank’s governor said yesterday, adding that it sees “significant room” for the targeted liberalisation of capital flows.

Matthew ‘doubles, trebles’ Fidelity fund withdrawals

RoyalFidelity has seen withdrawals from its investment funds “double, sometimes treble” above normal levels in recent months after Hurricane Matthew sent investors scrambling for funds to effect repairs.

Cut spending 5% per year, Govt is urged

The Bahamas needs to cut spending by 5 per cent a year during the Minnis administration’s five-year term in office unless economic growth suddenly picks up, a governance reformer believes.

Gov’t contains early 2017 deficit growth to $27.9m

The Christie administration contained the fiscal deficit’s February 2017 increase to just $7.6 million, putting it on course to close 2016-2017 near its $350 million target.

Chinese fraud suit alleges Bahamas bank ‘conflicted’

A Bahamian bank has now become embroiled as a “third-party defendant” in a lawsuit that alleges it may have had a ‘conflict of interest’ in its dealings over a purported Chinese real estate investment fraud.

Fiscal woe ‘daunting task’ for next Govt

The Democratic National Alliance’s (DNA) leader yesterday warned that the next government faces “a daunting task” to arrest the Bahamas’ fiscal decline, suggesting it start with reforming the Finance Ministry and associated agencies.

Residency change ‘great plan to stop investors coming’

Bahamian realtors have branded the Government’s proposal to increase the ‘fast track’ residency threshold to $1 million as “a great plan if we want to stop people and investment coming here”.

Developer moves on 'alarming' 5% mortgage buyers

A New Providence real estate developer yesterday said a newly-launched in-house financing initiative was “getting good traction”, as it bids to solve an “alarming” situation where just 5 per cent of its buyers are obtaining mortgages.

Teaching yourself is the real world

Do you have the ability to self-teach?

Jamaica first, Bahamas second, Trinidad third

THE debut of the Thomas A Robinson Stadium saw Bahamian athletes earn 31 medals - including eight golds - as the Bahamas hosted the 2013 Carifta Track and Field Championships.

Ex-Robin Hood boss 'rises from the ashes' with $10m re-opening

BUSINESSMAN Sandy Schaefer said around $10 million has been invested to re-open both of his former Robin Hood outlets, a development he said will create 250 jobs.

$21m border taxes fall 'very serious' for impending VAT

THE Government has been urged to establish a ‘national land bureau’ for the management of Crown Land, a well-known doctor arguing that its sale and lease was being “misused and abused”.

VAT clarity sought over commercial property sales

A top realtor has urged the Government to clarify whether it plans to levy 15 per cent Value Added Tax (VAT) on commercial real estate transaction prices, after this was dropped as an ‘exempt’ item in the latest draft Bill.

IDB blasts Gov’t debt management strategy

The Inter-American Development Bank (IDB) has criticised the Government’s debt management strategy, warning that its reliance on domestic investors to cover a $1.2 billion financing gap would “likely be more expensive” and create an increased fiscal burden.

BEC to pay $540k trespass damages

The Bahamas Electricity Corporation (BEC) was yesterday ordered to pay more than $540,000 in damages to a western New Providence developer for trespassing on its land.

Middle class 'under threat'

The Opposition’s finance spokesman yesterday warned that the Bahamian middle class was “under serious threat” from business downsizing and tax increases, as Scotiabank (Bahamas) became the latest institution to inform impacted staff of its outsourcing plans.

FINANCIAL FOCUS: The looming pension gap

Last Monday, both daily newspapers carried stories about our looming pension crisis which seemingly continue to fall on deaf ears. This is a topic which I, and others, have been warning of for years… yet nothing tangible has been done.

Bahamian broker facing SEC lawsuit

A BAHAMIAN broker/dealer and its principal were last night hit with a second Securities & Exchange Commission (SEC) lawsuit in two months, with regulators alleging they had operated “unlawfully” in the US in selling $100 million worth of stocks.

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