‘Shakeout’ fears for auto dealers
The Bahamian new auto industry will eventually suffer “a shakeout” unless the business environment improves, one dealer yesterday warning: “You can’t keep fighting City Hall forever.”
Treasury to gain 79% of dormant accounts in reform
The Central Bank is mulling legislative reforms that would transfer 79 per cent of existing dormant account balances to the Treasury within two months of receiving them.
Bahamas to lead region’s ‘growth momentum’
The International Monetary Fund (IMF) believes the Bahamas will lead the Caribbean’s “better growth momentum” over the next two years, with this nation’s GDP projected to expand by 2.8 per cent next year.
World Relays a 'resounding success' says Sands
LOCAL organisers of the IAAF World Relays at the weekend are claiming it was a “resounding success”, even though it may be a few weeks before a full assessment of the event’s impact is known.
Environmentalists welcome legislation as 'a victory'
A LEADING environmentalist yesterday lauded the government for introducing its draft Environmental Protection and Planning legislation, calling it “a significant victory for environmental protection, due process and the rule of law in the Bahamas”.
RoyalStar ‘in position’ for IPO by year’s end
A leading Bahamian insurer yesterday said it “will be in position” by year’s end to become a public company should its Board decide to move in this direction.
Rubis’s ‘desperate attempt to thwart’ $15m verdict bid
Cable Bahamas is alleging that Rubis is making “a desperate attempt to thwart” its $15 million summary judgment bid over the Robinson Road gas leak by continuing to argue that key evidence cannot be used at trial.
Insurer: 10% rate fall to ‘soften VAT blow’
A leading insurer yesterday expressed hope that a 10 per cent year-over-year fall in property and casualty premiums will “soften the blow” from Value-Added Tax (VAT) for Bahamian consumers.
Baha Mar open will ‘put to bed’ negative fallout
The negative publicity stemming from Baha Mar’s delayed opening will be “put to bed” once a firm opening date is set and the $3.5 billion destination resort lives up to its billing, the Ministr of Tourism said yesterday.
Hotels: ‘Any progress’ on BEC reform good
The Bahamian hotel industry yesterday said “any progress” towards cheaper and more reliable energy would benefit the sector, with guests finding it “difficult to comprehend” why there were so many blackouts.
Eleuthera awaits Cove deal details
The Eleuthera Chamber of Commerce’s president yesterday said he did not know enough about the Enchantment Group’s purchase of The Cove to determine its impact on the island’s economy.
Union: BEC bidders eyed 50% staff cuts
Several bidders envisaged slashing the Bahamas Electricity Corporation’s (BEC) workforce by 50 per cent, with its management union yesterday voicing fears that up to seven executives might be axed.
Fidelity: 45% profit increase shrugs off licence fee tripling
Fidelity Bank (Bahamas) yesterday shrugged off a “near tripling” of its Business Licence fees to deliver a 45 per cent year-over-year net income increase for 2014.
Family Guardian braces for $400k VAT cost impact
Family Guardian is bracing for $400,000 in extra costs that will be incurred during the 2015 second half as a result of Value-Added Tax’s (VAT) imposition on the insurance industry from July 1.
Renewables seek grid tie-in impetus through BEC deal
Renewable energy firms want the Bahamas Electricity Corporation’s (BEC) prospective new manager to create the grid stability that will facilitate tie-ins with their technology, with one warning: “We’re way behind the 8-ball.”
