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Union gives praise to ministers

IMMIGRATION Minister Fred Mitchell and Grand Bahama Minister Michael Darville received high praise from the Industrial Union for the role they played in resolving a long-standing labour dispute between the management of Quality Services and its unionised employees.

What about SC McPherson?

In recent days, much has been said about the politicians who contributed to the achievement of Majority Rule Day – January 10. Names have been called, but no one has mentioned Samuel C McPherson, MP whose efforts saved Government High School (GHS) from closure.

GB mortgage lending in 90%-plus slump

Mortgage lending on Grand Bahama has declined by more than 90 per cent, in both volume and value, compared to the pre-recession ‘boom’ years, data obtained yesterday by Tribune Business shows.

April creditors meeting urged over major fraud

The Bahamian liquidators of an alleged multinational fraud that has ensnared a BISX-listed firm’s affiliate have applied to the Supreme Court for an Order that the first creditors meeting be held during April 2013.

Star Performers Track Classic results

Results from the 10th Star Performers Track Classic held on Saturday at the Thomas A. Robinson National Stadium.

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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.

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Gov't unveils $250m BEC bond

The Government yesterday unveiled a planned $250 million bond to refinance the troubled Bahamas Electricity Corporation (BEC), saying it was “the first step to rehabilitate” its financial position.

BISX-listed firm’s affiliate in $75.5m ‘discrepancy’

There is a $75.5 million discrepancy over the sum allegedly held by a BISX-listed firm’s broker/dealer affiliate for a claimed multinational fraud, Tribune Business can reveal, with regulators having seized computers and a server from its downtown Nassau offices.

No matching Customs duty fall from VAT

Wall Street is not anticipating that the introduction of a Value-Added Tax (VAT) will lead to a matching drop in revenues generated from Customs Duties, a prominent Bahamian accountant believes.

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‘Mind blowing’: Under 4,000 firms face paying VAT

Under 4,000 Bahamian companies would likely face having to pay a Value-Added Tax (VAT), a Cabinet Minister describing as “mind blowing” the fact over 85 per cent of businesses might be exempt.

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BISX-listed fund targets 50% cut to vacancy rates

The BISX-listed Bahamas Property Fund is aiming to slash vacancy rates by around 50 per cent at both its flagship properties over the next two years, after seeing its net income for the first nine months last year fall 28 per cent.

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Gov’t urged: ‘Outsource’ property tax collection

The Government was yesterday urged to ‘outsource’ real property tax collection to the private sector, a well-known businessman suggesting it was almost ‘uncollectable’.

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Rockets, Cleaners get wins

THE Pyramid Food Rockets and the Double R Services Limited Cleaners were the latest victors in the New Providence Basketball Association as the league continued its regular season at the CI Gibson Gym on Monday night.

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Sports in brief

THE New Providence Basketball Association resumed its regular season play at the CI Gibson Gym over the weekend after taking a break for the Christmas holiday.

Communications sector rebounds through 3.7% growth in turnover

The Bahamian communications industry saw its total turnover increase 3.7 per cent year-over-year to hit $444 million in 2011, regulators have estimated, despite cellular phone subscribers falling by 90,000 since 2009.

Hotelier concern on ‘very much off’ January bookings

SEVERAL major hotel properties on Nassau/Paradise Island yesterday reporting 100 per cent occupancy heading into the New Year, one general manager telling Tribune Business, however, that the January booking pace was “very much off”.

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‘Bahamians are natural athletes...I think we can start at a later age and still excel’

AS MORE and more Bahamians explore the path to football stardom in Canada, one player that has reached the pinnacle of the sport reflected on his third and perhaps best season to date.

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Bahamasair eyes 80-90% loads

BAHAMASAIR’S load factors into Florida this weekend are in the high 80 and low 90 per cents, the airline’s deputy general manager, Van Diah, revealed yesterday, adding that the carrier was tapping into a good share of tourist traffic this Christmas.

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Bahamian abroad rests after years of noble service

ALTHOUGH the loved ones of Edwin Percival Minnis are sadden he will not spend Christmas or any other day with the family, a smile will always surface on their faces when they reflect on the life he lived and the precious memories he left behind.

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Concern over residences of Ambassadors

THE Bahamian Ambassador’s residence in London is in need of “substantial repairs,” as are the residences in New York and Washington, DC, according to Foreign Affairs Minister Fred Mitchell.