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Banks face 169% tax burden rise
The Bahamian commercial banking is facing an estimated 169 per cent increase in its total tax burden to $43 million, Tribune Business can reveal, a development that could result in further lending and economic contractions.
Aviation tax rises ‘absolute insanity’
The Opposition’s shadow tourism spokesman yesterday described the increased Customs fees/taxes levied on the aviation industry as “absolute insanity”, and called on the Government to “urgently” revisit its policy.
Airlines threaten cut backs over tax rises
Airlines representing 90 per cent of US airlift into the Bahamas have warned they may cut their services due to the Budget’s tax increases, a move that will undermine the tourism industry and threaten plans for a 400,000 seat capacity increase.
'Crazy' aviation taxes may cost tourism $20m
The Bahamas will “conservatively” lose $20 million in tourism revenues if it maintains the new and increased taxes on the private aviation sector, an industry expert yesterday slamming the Government’s policy as “crazy”.
Bahamas 'strained' to hit 2.7% growth target
The Bahamas will be “strained” to hit the Government’s and IMF’s projected 2.7 per cent GDP growth rate for 2013, a former finance minister yesterday warning this nation may never again hit the 2007-2008 heights.
Port's $21m offer 'fully subscribed' a week early
The Arawak Port Development Company’s (APD) $21 million preference share offering was “pretty much” fully subscribed one week before it was due to close, Tribune Business was told last night.
FNM deputy leader demands explanation for new NIB audit
LORETTA Butler-Turner, FNM Deputy leader has demanded a full explanation of the grounds on which the government has approved another forensic audit of the National Insurance Board.
Realtor shifting model to 40% foreign clients
A well-known realtor yesterday revealed he was shifting his business model from near-total reliance on the Bahamian market to one with a 40 per cent international share, as he urged the sector to “get off our butts”.
Latin American slip 'no cause for alarm'
The 2012 decline in Latin America’s high net worth statistics is “no cause for alarm” in the Bahamian financial services industry, with overall global growth presenting “more opportunities” for this nation.
FamGuard closes on Freeport HQ purchase
FamGuard (Bahamas) is closing on the acquisition of a new headquarters for its Freeport operations, while also gearing up for the “imminent” launch of its ‘simplified issue’ life product.
McCartney off to good start in Stampeders' 44-32 victory
KARL McCartney opened the Canadian Football League season where he left last year, as a special teams ace for the Calgary Stampeders.
Majority investor 'seriously concerned' over BISX listee
The majority shareholder of a BISX-listed company yesterday said it was “seriously concerned” that the value of its multi-million dollar investment is being steadily eroded, following a $2.607 million net loss for the year to end-September 2012.
Companies registry upgrades to boost Asian penetration
Online incorporations at the Companies Registry will give the Bahamas “much more of an upbeat message” to use when it begins “concentrated” efforts to penetrate the Asian financial services market in 2014, Tribune Business was told yesterday.
'Strong Bahamian connection' for university basketball programme
The University of Houston’s Basketball programme will have a strong Bahamian connection this fall after the transfer of LJ Rose to the Cougars.
Rewards for bad behaviour
EDITOR, The Tribune.
Port in 2.5% tariff rate rise forecast
The Arawak Cay port’s tariff rates are expected to increase by 2.5 per cent per year from 2016 onwards, it has been revealed, matching the Bahamas’ long-term inflation rate.
Dealer's expansion put 'on the shelf'
A leading Bahamian auto dealer yesterday disclosed he had placed western New Providence expansion “on the shelf” as a result of the Budget’s tax increases, as some in the industry reported losing up to $800,000-$1 million per year.
Paving success with kindness
As the Bahamas’ first National Women’s Month wound down, a female pioneer in business, financial services and civic life ramped up her advice to women.
Wilson questions Cash over BTC comments
FNM chairman Darron Cash’s comments about BTC prove he “doesn’t know what he is talking about” according to Frankie Wilson, the lead negotiator in the government’s efforts to regain majority shares in the company.
40-50% energy cost 'slash' via production privatisation
The Bahamas Renewable Energy Association’s president has hailed proposals to privatise electricity generation as having the potential to slash energy costs by 40-50 per cent and make this nation a regional leader.
