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'Fundamental concern' over $1bn current account deficit

The Bahamas must develop a long-term plan to address the “structural imbalance in its balance of payments”, a former finance minister describing this as his “most fundamental concern”.

BTC in 'substantial' $1m VAT systems bill

Thousands of Bahamas Telecommunications Company (BTC) pre-paid cellular customers will see their calling costs increase 15 per cent under Value-Added Tax (VAT), with the carrier itself set to incur a “substantial” $1 million bill just to make its systems compliant.

Realtor: VAT 'sell' critical to foreign buyer confidence

A leading realtor yesterday said he would “love” for his firm to beat 2013’s 35 per cent increase in total transaction value, but warned that much depends on how the Bahamas “sells” Value-Added Tax (VAT) to foreign investors.

Freeport Harbour in major redevelopment

A proposed oil recovery plant has agreed to expand its footprint by 20 per cent as part of a major redevelopment of Freeport Harbour, Tribune Business can reveal.

Bahamas faces recession if consumer 'can't absorb' VAT

The Bahamas will fall back into economic recession if consumers are unable to absorb Value-Added Tax’s (VAT) inflationary impact, a co-chair for the private sector’s Tax Coalition warned yesterday.

Tax Coalition urges price control end

The private sector’s Tax Coalition has added its voice to those urging that Price Controls be abolished, warning that food store overheads would have increased by between 7.5-12 per cent under a 15 per cent Value-Added Tax (VAT).

400 jobs may go, warns store owner

Super Value’s owner has warned that a 400 person lay-off may be “coming down the pipeline” across his various food retail interests unless the Government relents over its Value-Added Tax (VAT) proposal, plus Price Control and other recent tax increases.

Chris Brown officially opens One Eleuthera Primary School Meet

SOUTH Eleuthera — Officially opening the One Eleuthera Primary School Meet on Thursday, Chris ‘Fireman’ Brown said he’s disappointed that the athletes are still competing on the grass track at his alma mater at the Preston Albury High School.

FINCO consolidation hits BISX-listed fund

FINCO’s planned consolidation has hit a BISX-listed fund’s ambitions of reducing the vacancy rate at its flagship property, its administrator conceding this would now increase to almost one-third of available space.

'Severely hampered' over legal action against Alliance

Liquidators for an alleged multi-million dollar Ponzi scheme have been “severely hampered” by a lack of financing in their efforts to recover a $5 million investment, and pursue legal action, against a BISX-listed company’s main affiliate.

Firm's $1.1m ramp up for alternative energy 'explosion'

A Bahamian-owned company has invested $1.1 million over the past year to ‘ramp up’ its business ahead of a renewable energy “explosion” that will meet the Government’s 2030 alternative supply target.

Broker/dealer's 'strong case' for vindication

Attorneys for Gibraltar Global Securities and its principal, Warren Davis, yesterday expressed confidence they would be totally cleared of all charges, and accused US regulators of employing “bullying tactics” against their clients.

DNA chief: I couldn't get into business now

The Democratic National Alliance’s (DNA) leader yesterday said today’s economy would prevent him from entering business in the manner he did 20 years ago, describing the Budget as lacking vision and providing “no light at the end of the tunnel”.

'VAT should be part of broader economic reform'

FREEPORT – Former Prime Minister of Barbados Owen Arthur says the introduction of a Value Added Tax should be viewed as an essential part of the broader sweep of economic reforms in the Bahamas.

Clubs and societies: Road cycling series continues

Bahamas Cycling Club. - New Providence continues its road cycling race series this Sunday, starting and finishing at The Cove, West Bay Street.

Oil explorer targets 50 per cent well cost cut

The Bahamas Petroleum Company (BPC) is hoping to slash costs associated with drilling its first exploratory well by up to 50 per cent “without compromising” health and environmental safety standards.

Insurer: Contractor premiums down 50%

A Bahamian insurer yesterday said premium income from its contractor all-risk business had declined almost 50 per cent over the past four years, as it predicted “another flat year” for 2014 overall.

Cool 96's Ed Fields signs off for the last time

AFTER TWO decades on air as one of the country’s best-known radio personalities, Ed Fields, known for his provocative remarks and wit, is set to sign off for the last time.

Gov't seeks $100m 'bridge financing'

The Government has hired CIBC FirstCaribbean to raise a $100 million “bridge financing” facility for it, with an initial interest coupon some 160 basis points below the Prime lending rate.

Junior stars in Tennis-A-Thon

IT was a domino effect as Jacobi Bain set the pace, breaking William ‘JJ’ Fountain’s nine-year-old record for the most consistent rally in the Bahamas Lawn Tennis Association.

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