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Hield chosen to represent the Sooners on media day

INDICATIVE of his new leadership role, sophomore guard Buddy Hield was one of three members of the Oklahoma Sooners programme chosen to represent the team when the Big 12 conference hosted media day.

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Companies fearing VAT 'cash flow nightmare'

Bahamian businesses yesterday expressed fears that Value-Added Tax (VAT) will cause “a cash flow nightmare”, warning that they would have to use “profits and working capital” to cover tax payments on sales they never receive.

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$13m campaign targeting 30k Asian visitors

A $13 million independent Bahamas tourism marketing campaign targeting the Asian travel market could net 30,000 visitors within the next three years, its developers said yesterday,

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$45m PHA offering in Gov't approval delay

The $45 million Public Hospitals Authority (PHA) bond issue has been postponed for one week to allow time for government approval, Tribune Business can reveal.

BEC profit margins 'wiped out' in 2010

The Bahamas Electricity Corporation’s (BEC) profit margins had been wiped out as far back as 2010, the Inter-American Development Bank (IDB) has revealed.

Bahamas targeting ‘novel’ fund vehicle

Legislation is being drafted for the creation of a “novel” fund vehicle that could be ‘married’ to the SMART Fund 7 model, the minister of financial services said yesterday.

Trade deficit increases despite 14% export rise

Despite a 14 per cent increase in total exports, the Bahamas’ merchandise trade deficit increased by 5 per cent in 2012 to hit an all-time high of $2.818 billion.

Ex-AG calls for lower VAT rate

A former Attorney General has called on the Government to “consider” implementing Value-Added Tax (VAT) at a lower rate than 15 per cent, warning that consumers would likely have to “bear” increased legal services costs.

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Legal threat to $5m benchmark pref equity

Liquidators for an alleged multi-million dollar ‘Ponzi’ fraud are threatening legal action to force a BISX-listed company to unwind, and return, a $5 million investment that accounts for 100 per cent of its preference share capital.

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Warning of lower growth than forecast

The International Monetary Fund (IMF) yesterday slashed its 2013 economic growth forecast for the Bahamas by 80 basis points, prompting an Opposition MP to urge: “We have to find new ways to grow this economy.”

National debt near $5.5bn by mid-2014

The Bahamas’ total national debt will be close to $5.5 billion by the time the Government’s fiscal year closes on June 30 next year, it was forecast yesterday, having grown at least $419 million in 12 months.

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Waltiea has third double double of season

A PAIR of double doubles from Bahamian players last night in Euroleague action netted different results for Waltiea Rolle and Kino Burrows and their respective clubs.

THE ART OF GRAPHIX: The PC way to speed repairs

Even though everyone wants a faster PC or laptop, computers age and naturally slows down.

FINCO beats the industry despite $107m bad loans

Finance Corporation of the Bahamas (FINCO) yesterday disclosed that despite non-performing mortgage loans totalling $107 million at end-July, as a percentage of total credit this was almost five percentage points below the industry average.

Businesses 'deluding themselves' on VAT black economy fears

Large Bahamian businesses “will be deluding themselves” if they believe Value-Added Tax’s (VAT) introduction will result in consumers deserting them in droves for the ‘black economy’ or non-paying rivals, a top official is arguing.

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Band makes come back with 'Rockalypso'

PURSUING a career in real estate was the best thing to do after he failed to realise his musical aspirations more than a decade ago. Now, Bahamian entertainer Johnnie Christie is taking another shot at music, with the release of an album and the relaunch of the Floating Boats band.

Gov'ts VAT 'level Playing field'

The Government will pay Value-Added Tax (VAT) on goods and services where it competes with the private sector to ensure a “level playing field”, it was recently revealed.

Oceania Heights settle offer 'absolute nuts'

Disgruntled homeowners have rejected a Bahamian attorney’s offer to settle the long-running Oceania Heights dispute, their president describing it as “absolutely nuts” on the grounds that it seeks to dump $2.76 million in liabilities on them.

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Lourawls Nairn heads to Michigan

LOURAWLS Nairn will be taking his talents to East Lansing, Michigan, in the fall of 2014 after he verbally committed to the Michigan State Spartans yesterday.

Abaco business owners 'opened up' to the IRS

The Abaco Chamber of Commerce is aiming to take the lead in informing residents with dual US citizenships about their obligations to the Internal Revenue Service (IRS) under the Foreign Account Tax Compliance Act (FATCA).