S&P: Hit 3% VAT goal to escape credit downgrade
The Bahamas was yesterday warned that hitting Value-Added Tax (VAT) revenue targets equivalent to 3 per cent of GDP is “key” to avoiding another credit downgrade, with Wall Street also “watching” the Bank of the Bahamas situation.
Arawak port eyes 40% profit growth
The Arawak Port Development Company (APD) is projecting a 40.2 per cent net income increase for its 2015 financial year, while raising security and tax evasion concerns over Potter’s Cay and Family Island ports.
Gov't urged: Move 'hastily' on $30m CLICO guarantee
A leading clergyman yesterday urged the Government to move “hastily” on providing the long-awaited $30 million CLICO (Bahamas) guarantee, adding that it was hard to avoid the contrast with the Bank of the Bahamas ‘rescue’.
Fidelity's 46% profit growth aided by $1m affiliate boost
Fidelity Bank (Bahamas) yesterday unveiled a 45.8 per cent net income increase for the year to end-September 2014, aided by a $1 million contribution from the 50 per cent equity stake it holds in its merchant bank affiliate.
Oil price drop set to 'counter balance' VAT
The Central Bank of the Bahamas believes Value-Added Tax’s (VAT) inflationary impact will be partially “counterbalanced” by declining global oil prices.
Vacation rental managers fear VAT business loss
Abaco-based property management firms fear Value-Added Tax (VAT) will cost them business by driving visitors to book vacation rentals via foreign sources, thereby avoiding the tax.
ART OF GRAPHIX: Learning from a carpenter's craft
Darius Kazemi once asked if there was a difference between carpentry and art? If you ask me, I firmly believe that carpentry is altogether art, as it creates something out of nothing.
Atlantis chief warns on hotel 'casualties'
Atlantis’s top executive yesterday warned there will be “casualties” among New Providence’s resorts if the island keeps adding hotel rooms without a matching increase in airlift.
Capital breaches 'did not warrant' bank's closure
Bank of the Bahamas’ breaches of Central Bank-mandated capital ratios did “not warrant” its closure because it was still in compliance with international regulatory requirements.
US attempts to seize Bahamian duo's $1.4m
US authorities are attempting to seize $1.4 million belonging to a brokerage firm run by two indicted Bahamians, alleging that bank activity was “consistent with the layering of criminal proceeds”.
Conch verdict preserves $3.3m fisheries exports
BAHAMIAN fishermen yesterday hailed as “welcome news” the US’s decision not to place the Queen Conch on its endangered species list, and blamed harvesting shortfalls on “destructive” methods by foreign poachers.
Wilson: 'Silver lining' to $100m bank rescue
A leading businessman yesterday said there was a potential “silver lining” to the $100 million Bank of Bahamas ‘rescue’, adding that the case for the Government retaining majority ownership had “diminished”.
MARKETING REVOLUTION: Flexibility key to business survival
Most people in a business have a fixed and inflexible attitude towards how a business makes money. But it is important that you as a member of the Marketing Revolution have flexibility. Because it may be the case that you have to change your model, especially if you have some major interruption that stops you from being able to pay your bills. For example, let us say you have some major roadworks that stop people from being able to come to your business.
Logistics provider targets expansion
A Fort Lauderdale-based logistics provider, which has been offering concierge services to Bahamian businesses and residents for more than a decade, is aiming to expand its service offering.
Bahamas to lead European charge
The Bahamas is looking to stand out among the 200 countries that are all seeking a greater share of the UK and European tourist markets at World Travel Market (WTM) in London.
