Local Business


Duo’s securities fraud conviction is quashed

An ex-bank manager and former trader yesterday saw their securities fraud convictions quashed by the Court of Appeal, which found that a magistrate’s earlier ruling “fatally fell into error”.

Bahamas ‘Back to drawing board’ on aviation oversight

The Bahamas was yesterday urged to “go back to the drawing board” on aviation regulation, after the Government’s own agencies effectively admitted that unauthorised charter flights were a lawless ‘Wild Wild West’.

Firms ‘getting VAT a lot more’

Businesses are “getting it a lot more” in terms of how Value-Added Tax (VAT) works, the tax’s Comptroller praising the private sector for “tremendous progress” during the transition period.

French push money laundering, fraud charges against RBC Trust Bahamas

Royal Bank of Canada’s (RBC) Bahamian trust subsidiary is fighting a French prosecutor’s recommendation that it be charged with tax fraud “complicity” and “aggravated money laundering”.

January push for NHI ‘discomfiting’

The Government’s push to implement National Health Insurance (NHI) by January 2016 is “discomfiting” to the private sector because most of the key details are still unknown, Tribune Business was told yesterday.

Training strategies to empower employees

The level and quality of training provided to employees serving at varying levels is vital to a company’s success.

‘Don’t bite off more than we can chew’ with NHI

THE Government must consider the Bahamas’ economic recovery progress as it moves to implement initiatives such as National Health Insurance (NHI), a leading private sector representative warning: “We have to be careful we don’t bite off more than we can chew.”

BTC chief tells fellow utilities: Go pre-paid

The Bahamas Telecommunications Company’s (BTC) chief executive says both the Bahamas Electricity Corporation (BEC) and Water and Sewerage Corporation (WSC) could significantly reduce their receivables by introducing a pre-paid system similar its own. 

Taxi union chief fears Baha Mar ‘exclusion’

A taxi union leader yesterday said all drivers should be eligible to do business with Baha Mar, adding that he has been arguing for the same reforms proposed by the resort developer for the past 20 years.

VAT returns ‘flowing’, but just 13% are in

The first Value-Added Tax (VAT) returns are “flowing in”, even though just 12.7 per cent of the anticipated 550 January filers had submitted their documents by Tuesday this week.

Bank unable to recover 95% of VAT ‘inputs’

Commonwealth Bank yesterday predicted it would be unable to recover 95 per cent of its Value-Added Tax (VAT) input payments, given that ‘exempt’ revenue streams form the bulk of its income.

B’air, Water Corp eat up $55m in subsidies

Bahamasair and the Water & Sewerage Corporation will collectively consume $55 million in taxpayer subsidies in 2014-2015, the Deputy Prime Minister yesterday revealing that the latter has been allocated a further $15 million for this fiscal year.

BTC fearing $25-$30m roaming revenue loss

The  BAHAMAS Telecommunications Company (BTC) is looking at a potential $30 million roaming revenue loss in its upcoming financial year after foreign carriers threatened to block their customers from using their phones in the Bahamas.

DPM says planning application rises show ‘turning economy’

A leading contractor yesterday said it would be three-four months before the sector gained a “true appreciation” for how it would be impacted by signs of an improving economy, amid increases in planning permit applications.

ART OF GRAPHIX: Bridging the technical gap

Have you ever tried explaining technical matters to ‘not-so-technical’ people? Was it a treat? Maybe, but then again, maybe not. Yet it is safe to say that most persons in technical posts are, at some point, faced with the challenge of communicating with persons who know little about technology.