No Property Fund dividend until 80% occupancy rate hit
The BISX-listed Bahamas Property Fund will not pay shareholder dividends until its overall occupancy rate improves into the 80 per cent range, its administrator has told Tribune Business.
Small business ‘cannot wait another 5 minutes’
A small business adviser is pledging to “knock on the door” of the new government as early as today, arguing that “we can’t wait another five minutes” for the sector’s long-promised legislation.
FNM deputy: OECD ‘preying on the weak’
The FNM’s deputy leader has branded the latest threats to the Bahamian financial services industry as “a very serious matter”, describing the situation as “the strong preying on the weak”.
Baha Mar gains over 18,000 job applicants
Baha Mar has attracted more than 18,000 job applicants since it kicked-off its recruitment campaign in mid-January a senior executive said yesterday, describing the response as “overwhelming”.
Appeal Court criticised on $700k Insurance Claim
The Privy Council yesterday expressed “the strongest reservations” over the Bahamian Court of Appeal’s failure to properly interpret an insurance contract in overturning a verdict that required RoyalStar Assurance’s predecessor to pay out a $700,000 claim.
Don’t increase VAT rate, Chamber chair tells Govt
THE incoming administration must provide immediate certainty on its tax plans, the Chamber of Commerce’s chairman urging it to maintain the 7.5 per cent Value-Added Tax (VAT) rate for at least 12 months.
Junior doctors listed for NHI without consent
The Medical Association of the Bahamas (MAB) president yesterday said he had been informed that junior doctors in the public clinics were signed-up for National Health Insurance (NHI) without their permission, with the scheme’s development thrown into doubt by yesterday’s general election.
Govt revenues off $110m despite VAT
The Government’s deficit for the year to end-June 2016 was 123 per cent higher than projected because revenues, despite Value-Added Tax’s (VAT) arrival, came in $110.2 million below the Christie administration’s projections.
Next Govt’s term ‘pivotal’ to revive economic growth
The next administration’s five-year term is “pivotal” for reviving the Bahamian economy, the Chamber of Commerce’s chief executive yesterday expressing hope it will pick up talks on revising the National Investment Policy.
Minister: ‘Do not mess’ with National Development Plan
The Investments minister has urged the next government not to interfere with the National Development Plan’s (NDP) crafting, warning: “There’s no sustainable future without it.”
Next Govt warned: ‘Immediate’ decision required over BOB
FNM politicians, including former prime minister Hubert Ingraham, yesterday warned that the next government will have to “immediately” decide how to resolve the crisis at Bank of the Bahamas (BOB).
Central Bank eyes reform as dormant accounts hit $95m
The Central Bank is pursuing reforms to legislation governing dormant bank accounts, which grew in volume by 10.2 per cent in 2016 to $95.3 million by year-end.
Reservations ‘exceed’ early Baha Mar hopes
Baha Mar’s top executive yesterday said reservations at its Grand Hyatt property have “exceeded our expectations” to-date, with overall demand for summer travel “extremely strong”.
Growth, fiscal ‘reality’ will strike on May 11
“Immediate focus” must be given to economic growth and development by the incoming administration, the Chamber of Commerce’s chairman said yesterday, adding that there must be clear communication of its fiscal and economic strategy.
BOB’s Central Bank row ‘very troubling’
Bank of the Bahamas (BOB) shareholders yesterday said it was “very, very troubling” that it was resisting the Central Bank’s regulatory demands, warning this would only further undermine confidence in the troubled BISX-listed institution.
