Nassau/PI urged to tackle tourism risks
New product development, climate change and the creation of a cultural and natural heritage mapping data base have been identified as priority risk areas that will be addressed over the next 12-months by the Nassau/Paradise Island tourism industry, in response to a sustainable destination assessment.
FNM deputy queries quality of Baha Mar building materials
The Opposition’s deputy leader yesterday expressed concern over Baha Mar slamming China State Construction, the lead contractor for its $3.5 billion development, and questioned whether there were material quality issues as well.
Companies 'U-turn' over tracking device's benefits
A Bahamas-based vehicle tracking start-up yesterday that apart from the security benefits of its product, it has helped local businesses increase efficiency and significantly reduce fuel costs.
Baha Mar's contractor relations hit new low
Relations between Baha Mar and its Chinese partners hit a new low last night, after it blamed the lead contractor for forcing it to abandon plans to open the $3.5 billion development this Friday.
Slimming the fat linked with FATCA
We are living in a time where the tax landscape facing the Bahamian financial services industry is changing and evolving rapidly. On November 3, 2014, the Government executed a Model 1 Intergovernmental Agreement (IGA) with the US government to implement the latter’s Foreign Account Tax Compliance Act (FATCA).
Financial provider eyes private bank for next purchase
A Bahamas-based financial services provider yesterday said its next target is adding a private bank to its growing family, following the successful completion of two Cayman acquisitions.
'Further concerns' on Scotiabank downsizing
Scotiabank (Bahamas) imminent restructuring was yesterday causing “further concerns” for unemployment and the commercial banking industry, amid suggestions the institution was reviewing the future of up to eight branches.
Bimini Big Game 'going great guns' on $4.4m upgrades
The Bimini Big Game Club is poised for a $4.4 million “complete” renovation, its general manager yesterday telling Tribune Business: “We’re going great guns”.
Bahamas 6.7% tourism growth to lead region
The Bahamian tourism industry will generate the greatest GDP and employment growth of all Caribbean destinations in 2015, a global travel body has forecast, despite Baha Mar’s decision to postpone Friday’s planned opening until May.
Properties taxed on just 40% of value
The average Bahamian property is being taxed on just 40 per cent of its market value, a report warning that this is creating “efficiency and equity distortions” that undermine revenue yields and compliance.
Bay Street’s revival key ‘under contract’
A key waterfront property vital to Bay Street’s revitalisation is now “under contract”, Tribune Business was told yesterday, amid expectations that its purchase will conclude “sooner rather than later”.
Web shop attorney slams banks’ casino ‘double standards’
Attorneys for the domestic gaming industry yesterday questioned why the Canadian-owned commercial banks would happily accept casino-related deposits while rejecting those of web shops, even though the latter faced “more restrictions”.
Follow NIB: Haul property tax delinquents to court
The Bahamas will enjoy a far higher real property tax compliance rate if the Government were to follow the National Insurance Board’s (NIB) lead and prosecute delinquent payers through the courts, a top private sector executive said yesterday.
Bahamas fund is entitled to $191m recovery
The Privy Council yesterday ruled that a Bahamian mutual fund was entitled to recover $191 million from companies associated with one of Ecuador’s wealthiest families, following an asset-stripping exercise that saddled it with all their liabilities.
Cruise executive backs Hawksbill deal benefits for Grand Bahama
WITH Freeport’s key investment incentives set to expire in August, top cruise executive Giora Israel believes that such benefits in the Hawksbill Creek Agreement (HCA) will generate more business and investment activity and keep Grand Bahama competitive.
