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PM: ‘No time to rest on laurels’ over EU
THE Prime Minister yesterday said the Bahamas has “no time to rest on our laurels”, given the European Union’s (EU) concerns over the absence of corporate income taxation. Dr Hubert Minnis told the House of Assembly that the EU’s Code of Conduct group had written to the Government expressing concerns that this nation’s tax system did not comply with its ‘blacklisting’ criteria.
Harbour Island ‘thrilled’ at BPL energy resolution
Tourism stakeholders on Harbour Island yesterday hailed Bahamas Power and Light’s (BPL) plan to provide a 6 Mega Watt (MW) power plant to address long-standing energy concerns as “very encouraging”, one executive telling Tribune Business: “We’re thrilled.”
Govt targets extra $40-$80m revenue from enforcement
The Government is targeting an extra $40-$80 million in additional revenue over the next six to 12 months as it pursues an enhanced enforcement/compliance strategy, a Cabinet minister said yesterday.
Land registration still ‘stuck in 18th century’
The Bahamas’ land registration system remains “stuck in the 18th century, an Abaco realtor believes, while calling on this country to develop a proper Land Use Plan (LUP).
Natural resources: New fiscal regime under development
The Government is working with the Commonwealth Secretariat to finalise a new fiscal regime for the mining of sand, aragonite and other Bahamian natural resources, the Minister of the Environment and Housing said yesterday.
PI condo complex beats sale forecast
The owner of the former Ocean Place condominium complex on Paradise Island yesterday said it plans to bring 32 units to market by March 2016, telling Tribune Business initial sales had been “better than anticipated”.
'Internal brain drain'costs Bahamas $3.5bn
The Bahamas is losing nearly $3.5 billion to the “internal brain drain” caused by low worker productivity, a well-known eye doctor yesterday arguing this was having a greater economic impact than the loss of 61 per cent of tertiary-educated Bahamians to jobs abroad.
Atlantis owner eyes 'significant' 5-year investment programme
The Atlantis resort’s owner is looking to invest a “significant sum” in a five-year capital expenditure plan for the Paradise Island resort, having pronounced itself “quite excited” to have completed the $1.9 billion refinancing.
GOVT LIKELY TO SELL 40% PORT EQUITY STAKE
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net PRIME Minister Hubert Ingraham yesterday said he expects the Government to eventually sell its 40 per cent stake in Arawak Cay Port Development Company (APD), allowing the Nassau Co
Airline '90% complete' on $4.5-$5M project
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net WESTERN Air chief executive, Rex Rolle, said yesterday that construction on the airline's new terminal and maintenance facility in Freeport is "about 90 per cent" complete, telling
NIB 1% RATE IS RISE PROPOSED
By NEIL HARTNELL Tribune Business Editor and NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A recommendation to increase the National Insurance Board (NIB) contribution rate by one percentage point to 10.8 per cent has been lodged
NIB 1% rate is rise proposed
By NEIL HARTNELL Tribune Business Editor and NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A recommendation to increase the National Insurance Board (NIB) contribution rate by one percentage point to 10.8 per cent has been lodged
POST OFFICE HIT BY COMPLAINTS
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE BAHAMAS Postal Service is testing the efficiency of its local mail delivery service, acting Postmaster General, Leslie Cartwright, told Tribune Business yesterday, acknowledging
Second shipping firm in fee rise
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net A SECOND shipping company yesterday announced fee increases to offset the costs associated with its move to the new Arawak Cay port, with retailers telling Tribune Business any fre
Five-day course trains Bahamian mediators
TEN Bahamians were trained to international mediation standards following a five-day course conducted for the first time ever in the Bahamas by the London School of Mediation. The training course was held between February 6-10 at the British Colonial Hilt
Law forces some scrap dealers out
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net NEW legislation governing the scrap metal industry has proven to be too onerous for at least one dealer who has quit the business, telling Tribune Business yesterday: "It was costin
Water Corp's threat to roads contractor
Water Corp's threat to roads contractor By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Water and Sewerage Corporation (WSC) had threatened to remove Jose Cartellones Construcciones Civiles Company (JCCC), the main contracto
AIRLINE '90 PER CENT COMPLETE' ON $4.5-$5 MILLION PROJECT
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net WESTERN Air chief executive, Rex Rolle, said yesterday that construction on the airline's new terminal and maintenance facility in Freeport is "about 90 per cent" complete, telling
CHAMBER HEAD SAYS RESORT'S EXPANSION SIGN OF 'CONFIDENCE'
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE Grand Isle Resort and Spa's expansion plans demonstrate a confidence in Exuma, the island's Chamber of Commerce president said yesterday, telling Tribune Business various infras
RENEWABLE ENERGY FIRM UNVEILS BAHAMAS HEAD
OCEAN Thermal Energy (OTE) has appointed of Susan Larson as senior vice-president and executive director to head up its Bahamas operations. OTE Corporation is building the world's largest seawater district cooling system (SDC) for the $3.4 billion Baha Ma
