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Arawak Port beats its volume target by 1,000

The Nassau Container Port’s throughput volumes were 1,000 ahead of expectations during its 2012 fourth quarter, Tribune Business was told yesterday, with shipping companies reporting up to a 30 per cent improvement in vessel turnaround time from the new facility.

Bank deal targets top green energy 'hurdle'

A Bahamian renewable energy provider believes it has achieved an industry first through its financing tie-up with Commonwealth Bank, a move designed to overcome “the biggest hurdle” to the industry’s expansion.

Moody’s: Hotel ‘enclaves’ lower economic impact

The “enclave” nature of large-scale Bahamian resorts is limiting their impact on the rest of the economy, a leading Wall Street analyst believes, with the ‘jury still out’ on whether Baha Mar will grow or split the high-end visitor market come 2015.

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.

Moody's: Tourism, domestic demand woe make Budget too 'optimistic'

A Wall Street rating agency yesterday effectively warned the Christie administration its Budget sums were unlikely to add up, with the tourism industry - down 18 per cent from its pre-recession visitor spending peak - set to lag the overall economic recovery.

Attorneys: Real estate legal work down 90%

Two leading attorneys yesterday said real estate-related legal work in Freeport was down by “more than 90 per cent” compared to pre-recession levels, with an Albany or Baker’s Bay-style development vital to a market turnaround.

YOUNG MAN'S VIEW: Selling off Bahamian oil

ADMITTEDLY, the discovery of oil in the Bahamas can have gargantuan returns, fostering self-sufficiency and increasing prosperity among Bahamians, if the massive amounts earned is properly managed and used for the national good.

Oceania homeowners bid for $1.5m 'seed capital'

Property owners at Oceania Heights are hoping to raise $1.5 million to finance the construction of long-promised amenities and “recover some of our investment”, after the controversial project was finally transferred to their control.

YOUNG MAN'S VIEW: National anxiety over VAT

TODAY, as national anxieties are being expressed about Value Added Tax (VAT) and our country faces uncertain times, I’ve decided to take a cursory glance at this hot button topic with a view to expanding the discussion from various angles, from the local and international perspectives to more technical and scientific points of view, in a series of columns in the next week and thereafter.

Under 3% support Gov'ts VAT plan

Less than 3 per cent of Bahamians would be prepared to pay Value-Added Tax (VAT) at its initially proposed 15 per cent rate it if was introduced on July 1, a survey of New Providence residents has found.

Car dealers need 40% sales rise for 'healthy profit'

New car dealers generally need “at least a 30-40 per cent” increase in sales to return to healthy profit levels, the Bahamas Motor Dealers Association’s (BMDA) president yesterday saying 2014 to-date had produced some initial recovery signs.

YOUNG MAN'S VIEW: VAT roll-out will be a mess

THE rollout of the new Value Added Tax regime is seemingly setting up to become an unholy mess!

Oceania Owners 'busting our ass' on turnaround

A LEADING homeowner at Exuma’s controversy-torn Oceania Heights project yesterday expressed disappointment that just 27 per cent of property owners had to-date paid their 2014 maintenance fees, telling Tribune Business he and several others were “busting our ass to turn this around”.

Civil service pension deficit may 'explode'

The Government’s unfunded civil service pension liabilities will “explode” unless urgent reform action is taken, a senior accountant suggesting these could mean the national debt is really as high as $6.5 billion.

Financial sector not growing enough to cope with 100 job losses

The Bahamian financial services industry is not growing at a fast enough rate to absorb the more than 100 job losses announced year-to-date, the Opposition’s finance spokesman fears.

$5m Blackbeard's Cay upgrade eyes 100 jobs

More than $5 million has been invested in redeveloping Blackbeard’s Cay into an upscale visitor experience that will create 100 jobs, one of its principals said yesterday, arguing that Bay Street “no longer represents the Bahamas”.

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.

AML Foods eyes dividend restart on 'improved' Q1

AML Foods is aiming to resume investor dividends based on “significantly improved results” for its first quarter to-date, after yesterday unveiling a 45 per cent year-over-year profit increase for the final period of its 2014 financial year.

Many exemptions making VAT 'too damn complicated'

The Government’s proposed 150 exemptions risk making Value-Added Tax (VAT) “too damn complicated”, a well-known businessman yesterday warning this would result in increased tax rates and non-compliance.

No 'empowerment for jobs' trade-off on $50m aragonite plan

East Grand Bahama’s MP yesterday said he would have “difficulty” with a proposed $50 million aragonite mining project if it forced his constituents to trade their self-empowered lifestyle for jobs, given its potential impact on the area’s main fisheries source.

The Tribune

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