Local Business


Private aviators told: ‘Stop bashing Bahamas’

Private pilots were yesterday urged to stop “bashing the Bahamas” over their increased tax burden, one of its Flying Ambassador’s describing this nation as “still the number one destination” for the industry.

Union: Make worker severance benefits 'priority' creditor

A leading union body has called for changes to the Employment Act that would make employees, and their severance pay/benefits, priority or secured creditors of Bahamas-based companies that went into liquidation.

Coalition 'somewhat miffed' over Gov'ts payroll tax model

The Tax Coalition is “somewhat miffed” at the Government’ seemingly conducting ‘closed doors’ economic modelling to debunk its payroll tax proposal, its co-chair yesterday hitting back by arguing the was Jamaica’s “most efficient” form of taxation.

Bahamas First makes 'major' fraud dent

Bahamas First believes it has made a “significant” dent in the fraudulent use of insurance ‘cover notes’, having received no Road Traffic Department queries since its new system was launched last September.

Superwash invests $3m in 10th outlet

SUPERWASH is investing $3 million in a new “state-of-the-art” laundromat off the Charles Saunders Highway, its president telling this newspaper yesterday that the new location would likely create 10 jobs when it opens in September 2014.

Make widespread tax rises 'last resort'

The Bahamas Hotel and Tourism Association’s (BHTA) president has warned that “across the board tax increases should be a last resort” when it comes to fiscal reform, with this nation’s relatively high prices driving lower resort occupancy levels.

Palm Cay marina in 'major success'

Palm Cay’s marina has “enjoyed amazing success”, its dockmaster attributing this to a southern New Providence ocation that makes it a ‘jumping off point’ for boaters heading to the Exumas.

Broker to launch cyber insurance

A Bahamian insurance broker will next week launch a cyber liability product that can offer $1 million worth of coverage for just a $%400 premium.

Businesses 'damaged' by 35-40% freight cost rise

A well-known manufacturer has warned that all Bahamian businesses have been “damaged” by a 35-40 per cent increase in ocean freight rates in the past 18 months, with fiscal reform uncertainties also undermining employment prospects.

'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.

Blackbeard's Cay 'opened four months' before key dolphin licence filed

Environmental activists yesterday alleged that the multi-million dollar Blackbeard’s Cay project opened its doors more than four months before it applied for a ‘premises licence’ for its captive dolphin encounter.

Bahamas First 'fully expecting better' 2014

Bahamas First yesterday said it was “fully expecting this year will be better” than 2013, when total comprehensive income rose 13.2 per cent despite an almost-$2 million hit from May’s floods.

Bahamian students win arbitration competition

Two Bahamian students won a trip to Miami for an arbitration event, where they gained expertise from the world’s leading practitioners.

BFSB, regulators to attend captive forum

Representatives from the Bahamas Financial Services Board (BFSB) and the Insurance Commission of the Bahamas (ICB) will attend the annual Risk & Insurance Management Society (RIMS) Conference, which takes place in Denver from April 27 – 30.