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BISX urges: Drive the business to us
Fresh from the listing of its first SMART Fund, the Bahamas International Securities Exchange (BISX) yesterday urged local financial services practitioners to drive clients to it, adding: “The business comes here and lists somewhere else.”
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.
Ministry adviser slams 'ridiculous' Institute VAT study
A leading Ministry of Finance consultant yesterday blasted the Nassau Institute’s Value-Added Tax (VAT) study as “one of the most extreme, ridiculous and exaggerated” reports he had ever seen.
FamGuard unveils 15% profit growth
FamGuard Corporation has unveiled a 15 per cent year-over-year net income increase for the 2013 first half, driven by a total revenue increase and expenses that remained largely flat.
YOUR SAY: Time for a Christie shuffle
PRIME Minister Perry Christie has announced that he does not intend to shuffle his cabinet at this time. We think that there is compelling evidence that he should reconsider that decision.
Stocks to match 10% upside in '14
A top investment banker yesterday predicted that the Bahamian stock market will next year “at least” match the 10 per cent upside he anticipates for 2013, telling Tribune Business: “New Providence needs to get out of a hole.”
Fund targets 'definite Improvement' for 2014
The BISX-listed Bahamas Property Fund yesterday said it expects a “definite improvement” in earnings for 2014, amid hopes that “at least three outstanding lease requests” materialise into firm deals.
Bahamas 'bullish' on Latin America
MIAMI, FL - The Bahamian financial services industry remains “very bullish” on the Brazilian market, a Cabinet Minister telling this newspaper yesterday that the Smart Fund 7 model could be used as leverage to create other products.
Gov't urged: Put VAT 'cards on the table'
The think-tank behind a controversial study on the new Value-Added Tax (VAT) yesterday urged the Government to “put the cards on the table and be more transparent” over its tax reform plans, suggesting it was itself unsure about the impact on the wider economy.
Regulators must account for 'serious consequences'
A leading businessman has warned that the level of due diligence required to open a bank account in the Bahamas is having “serious consequences” for the Bahamas’ attempts to position itself as an international business centre.
PM accuses critics of VAT 'distortion'
PRIME Minister Perry Christie yesterday hit back at critics of the Government’s proposed Value-Added Tax (VAT), accusing them of “distortion” and urging the International Monetary Fund (IMF) to publicly back his administration’s plans.
AML profits fall 62% on consumer spending decline
AML Foods yesterday unveiled a 61.8 per cent profit decline for its second quarter, blaming a combination of internal issues and a 5-6 per cent decline in per head consumer spending from mid-year 2013.
TOUGH CALL: Government in a rush to reform the energy sector
ENERGY sector reform is in the air. The government wants to split the state-owned, loss-making Bahamas Electricity Corporation into two separate companies by the end of this year, and several private sector management bids are now being evaluated.
Island's 'all-time low' via 30 per cent aviation slump
Long Island yesterday became the second Bahamian island to declare private aviation visits were at “an all-time low”, with Stella Maris’s fixed-based operation (FBO) owner revealing fuel sales had slumped to their worst level since he acquired the business 15 years ago.
Over 1,000 firms escape mandatory VAT registration
The Government yesterday estimated it would lose over 1,000 mandatory Value-Added Tax (VAT) payers in increasing the registration threshold to $100,000, but would still “capture” almost 98 per cent of economic activity.
Gov't gets 'F' for VAT implementation
The Government is losing the public relations battle over Value-Added Tax (VAT) through its “cloak and dagger” tactics, a leading businessman warning yesterday he had to believe the Nassau Institute study’s conclusions in the absence of other evidence.
VAT's $165m revenue slump 'far off range'
The Government yesterday slammed as “far off range” a study suggesting Value-Added Tax (VAT) implementation would produce a $165 million decline in its total annual revenue intake.
Aviation fuel supplier sees 40% sales fall
A leading aviation fuel supplier yesterday said its sales had slumped 30-40 per cent year-over-year, and warned that private pilot flights into Abaco were “at an all-time low”.
Central Bank more bearish on 'significant headwinds'
A leading Bahamian realtor has seen a strong pick-up in private island sales this year, revealing that a $29 million deal for a private cay in the Exumas is set to close imminently.
VAT 'uncertainty' puts bank hires, projects on hold
A top banker has warned that the uncertainty created by the proposed Value-Added Tax (VAT), and other government initiatives facing the sector, has caused institutions to place new hires and capital expansion projects on hold.
