Bahamian credit unions have concentrated more than two-thirds of their lending in “small scale consumer purchases”, with the sector’s delinquency ratio ending 2013 some two percentage points higher than international benchmarks.
The Bahamas Petroleum Company’s (BPC) efforts to secure a joint venture exploration partner have been hit by increasing “suspicions” over the Government’s delay in releasing the new regulatory platform for the sector, it was revealed yesterday.
The proposed National Health Insurance (NHI) scheme’s financing mechanism could wipe out Bahamians’ disposable income and “hurt the economy”, the Chamber of Commerce’s chairman warned yesterday.
Web shop owners will be allowed to hold an equity interest in more than one legalised operator, even though the Government wishes to see ownership that is “as broad-based as possible”.
A Bahamian auto dealer said yesterday that a 12 per cent year-over-year increase in sales of his high-end vehicles was likely being driven by a pre-Value-Added Tax (VAT) rush, adding that he was “a little concerned” that trend would be shortlived.
An ex-Deputy Prime Minister has urged the Government to “stop buck passing” and decide final plans for Nassau’s harbourfront boardwalk, a project deemed “critical” to better distributing cruise tourists along Bay Street.
The Opposition’s finance spokesman says the Government is yet to decide whether to levy Value-Added Tax (VAT) on services transactions between Grand Bahama Port Authority licensees, a situation he branded as “crazy”.
A Tax Coalition co-chair has called for apparent differences between the Value-Added Tax (VAT) legislation and ‘guidance notes’ to be “resolved”, agreeing that there was “confusion between the two”.
A Tax Coalition co-chair has expressed concern that Value-Added Tax (VAT) could make Bahamian tour/dive boat operators and charter companies uncompetitive against international rivals and “put them out of business”.
Prime Minister Perry Christie met Royal Bank of Canada (RBC) on Friday to discuss web shop gaming, with a Cabinet Minister pledging the Government “can’t at all compromise” the financial services industry’s integrity.
Genting’s BB Entertainment subsidiary is investing $24.6 million to acquire a 6.6 hectare site upon which it is building a new 307-room hotel in Bimini.
A helicopter tour company is hoping to drive more business by opening a restaurant and bar on Bay Street, a move that will create an initial six to eight jobs.
A senior Grand Bahama Port Authority (GBPA) executive has presented Freeport’s potential advantages as an assembly and distribution hub to a global audience.
The Retail Grocers Association has not abandoned its push for an increase in price control margins, with its members likely to make a renewed reform push once Value-Added Tax (VAT) implementation is behind them.
The Securities Commission of the Bahamas has selected Jarod Fowler as the first recipient of the Timothy B. Donaldson Apprenticeship Programme, which includes a four-year scholarship to the College of the Bahamas (CO) and simultaneous job training with the regulator.