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Baha Mar facing 'lot of pressure'

Baha Mar faces “a lot of pressure” to drive economic and fiscal recovery, a Moody’s analyst yesterday questioning whether there was enough tourist demand to fill the net 2,100 room increase at Cable Beach.

Realtor calls for stamp, real property tax 'double win'

A leading realtor believes the Government could achieve a “double win” if it implements creative policies to bolster Stamp Duty and real property tax revenues, while also stimulating the ‘investment property’ market.

Over $1m tax rise wipes out Port’s tariff cut plans

A more than $1 million tax burden increase, combined with a delayed Baha Mar-related upswing in container volumes, has forced the Arawak Port Development Company (APD) to postpone plans to reduce its tariffs.

'Too early to celebrate the recession end'

Value-Added Tax (VAT) will likely increase costs for each commercial bank by “several million dollars” annually, a top banker yesterday warning: “It’s still too early to celebrate the end of the recession.”

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.

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”.

Halkitis: Change is needed to save the economy

SEEKING support from accountants for the government’s Value Added Tax plan, the Ministry of Finance said a change is needed to save the Bahamian economy.

BISX chief in $15m Bargain City deal

The Bahamas International Securities Exchange’s (BISX) chief executive is a principal in a $15 million deal to acquire the well-known Bargain City Shopping Plaza on Carmichael Road.

$5bn-plus deficit creating economy 'realignment' fear

The Bahamas is facing a “troublesome realignment” of its external accounts, a former finance minister has warned, noting this nation has amassed a collective $5 billion-plus current account deficit over the past four years.

AML 'not terribly excited' despite 106% profit rise

AML Foods yesterday said it was “not terribly excited” about its first quarter net income more than doubling to $1.346 million, a result aided by a further 20 per cent reduction in shrinkage during that period.

BEC anticipating $3m monthly from Baha Mar

The Bahamas Electricity Corporation (BEC) anticipates receiving $2.5-$3 million in monthly payments from the Baha Mar development once it fully opens, it executive chairman has disclosed.

Grand Bahama tourism grows via air and sea, says Wilchcombe

TOURISM Minister Obie Wilchcombe says that tourism growth in Grand Bahama is moving in the right direction, with positive results in both air and cruise arrivals.

Fears hard-hit consumers may drop insurance cover

THE insurance industry in the Bahamas is concerned that it may see its customer base shrink, an industry executive noting that the high cost of living, the impact of Value Added Tax (VAT) and stagnant wages may lead many consumers ultimately to drop their coverage.

Energy subsidies cost Bahamas 1% of GDP

The Bahamas is giving away a sum equivalent to 1 percentage point of gross domestic product (GDP) in pre-tax subsidies to its petroleum and energy sectors, the second-highest number among Caribbean oil importers.

BFSB plans briefing on insurance sector

The Bahamas Financial Services Board (BFSB) will later this month host a half-day Insurance Industry briefing that includes a ‘Captives 201’ component.

Best Buddy scheme helps disabled to graduate at Baha Mar

FIVE students with developmental or intellectual disabilities have been offered jobs at Cable Beach mega-resort Baha Mar after graduating from the resort’s Leadership Development Institute yesterday.

Next stop New York for Grand Bahama students

TWO Grand Bahama students will be off to New York this August to attend the French Woods Performing Arts Camp.

Chris Brown ready for Rio - minus his luggage

RIO de Janeiro, Brazil: While he should be focusing on his race strategy against an anticipated field of quality quarter-milers at the Olympics, veteran Chris 'Fireman' Brown is more concerned about his luggage.

Central Bank forecasts mildly positive growth

THE Bahamian economy will maintain its mildly positive growth path over the near term according to the Central Bank, which has noted that the fiscal sector outlook will continue to depend on the success of government measures to strengthen revenue collections and restrain expenditure growth.

‘The proper action was taken not to land those persons in our country’

KEITH Bell says immigration officials correctly denied two Moldovan models entry to The Bahamas in a case that has sparked international headlines.

The Tribune

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