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Work permits: 90% of applications come from Bahamians

Ninety per cent of work permit applications come from Bahamian businesses and individuals, a former Immigration Minister telling Tribune Business that the Government did not understand the need to “run the Bahamas as a business”.

Fund's 'flagship' targets 10% pts occupancy growth

The Bahamas Property Fund is targeting a 10 percentage point increase in occupancy rates at its flagship downtown Nassau building to 80 per cent by year-end, having successfully leased “a couple thousand square feet” for 2013 to-date.

Licence fee rises 'will not break' private sector

The “marginal” Business Licence fee increases are “unlikely to be the proverbial straw that breaks the camel’s back”, a former finance minister said yesterday, praising the 2013-2014 Budget for “hitting more than the right notes”.

Cutting 1,000 companies to maximise VAT revenues

A top accountant yesterday backed the Government’s plans to slash mandatory Value-Added Tax (VAT) registrants by 1,000 firms, telling Tribune Business this would help to “maximize” revenues from the new tax.

Public Hospitals Authority targets $100m from investors

The Public Hospitals Authority (PHA) is seeking to ultimately raise $100 million from investors via a series of bond issues, despite its financials showing it is ‘technically insolvent’ without the Government’s annual subsidy.

Gated communities fearing VAT fee rises of up to 32%

Fears were expressed last night that home/property owners fees in gated communities and condo complexes could rise as much as 32 per cent with Value-Added Tax’s (VAT) implementation, one management company warning it would have “a big impact”.

$45m PHA offering fully subscribed in first day

By NEIL HARTNELL

Bimini developer: No twice-daily trips till April

Resorts World has alleged it cannot return to its “original business model” of twice daily cruises to Bimini until April 2014, due to high winter seas and the absence of its controversial terminal/jetty.

Broker targeting 3,000 clients for cyber cover

NUA Insurance Agents & Brokers is targeting up to 3,000 clients with its newly-launched cyber liability insurance coverage, a product designed to give businesses protection from online exposures such as e-theft.

Cable's $114.5m sets 'Markets milestone'

Exuma’s February Point project is aiming to hire a further 120-140 persons when construction work ramps up within the next two months, its owners yesterday telling Tribune Business the project was “moving a little faster than we anticipated”.

Broker blasts SEC's 'fraud' re-pleading

A Bahamian broker/dealer has blasted attempts by US regulators to re-plead previously dismissed fraud allegations against, arguing that its “boilerplate claims” would only create “a pointless burden and expense” for all.

VAT consultants call for 'doubtful debt allowance'

The Bahamas should include a ‘doubtful debts allowance’ in its Value-Added Tax (VAT) legislation, the two Zealand consultants suggesting that this “seems necessary” to alleviate “significant cash flow difficulties”.

Health insurance sector 'shock' at VAT reversal

Bahamian health insurers were yesterday said to be “shocked” that the Government chose to impose 7.5 per cent Value-Added Tax (VAT) on their clients’ premiums, with its view that the sector will be better off reclaiming its input taxes currently untested.

‘My $1m investments don’t fit in Bahamas’

An ex-MP whose entire $1 million investment has been endangered by the never-ending wait for Government approvals says: “The system has decided I don’t fit in the Bahamas.”

Bahamian battles FTX chief on $28m aircraft

A BAHAMIAN aviation entrepreneur yesterday launched legal action against FTX’s US chief to safeguard his ownership interest in two aircraft valued at a combined $28m

RICHARD COULSON: Foreign lawyers needed to reverse offshore drop

In a recent speech, Hope Strachan, minister of financial services, reported that we block the entry of foreign, specialised lawyers needed to kick-start our financial industry. The Bar Association’s president, Elsworth Johnson, retorted that we let foreigners in whenever needed, and our objective should be to hire more Bahamian lawyers anyway.

Spartans top Pacers to win Varsity Boys Spring Classic

THE Noble Academy Spartans avenged their only defeat during the round robin play to hand the RM Bailey Pacers their only loss when it counted the most in the championship game of the inaugural Varsity Boys Spring Classic that concluded at Kendal Isaacs Gymnasium on Friday night.

Liberty’s ‘future plans’ for BTC key to Gov’t

Liberty Global’s “future plans” for the Bahamas Telecommunications Company (BTC) will weigh heavily on the Government’s decision over whether to approve its arrival in this nation, a Cabinet Minister said yesterday.

Redundancy pay cap ‘totally inequitable’

The Trade Union Congress’s (TUC) leader yesterday backed Government proposals to lift the redundancy ‘ceiling’, arguing it was “ totally inequitable” for workers who had given decades of service to receive the same pay-off as colleagues with the same firm for 12 years or less.

VIDEO: Close finishes set the tone for Hugh Campbell

The 33rd Hugh Campbell Tournament tipped off Monday night at the AF Adderley Gymnasium with a trio of close finishes to set the tone for this year’s event right away.

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