Freeport's $500m fiscal boost at critical mass
Freeport’s contribution to the Public Treasury could increase five-fold to $500 million if the city reaches its planned population size, with the private sector arguing that it could help solve both the Bahamas’ fiscal and ‘free trade’ issues.
Insurers fear VAT 'tax on top of a tax'
Bahamian insurers yesterday expressed concern that Value-Added Tax (VAT) would be levied on top of the existing 3 per cent premium tax, fearing this will increasingly drive consumers to “opt out” of renewing their policies.
Chamber: Split off Port Authority into 'independent trust'
The Grand Bahama Port Authority’s (GBPA) ownership should be transferred to an independent trust as a way to eliminate perceived conflicts of interest, “minimise investor risk” and boost the organisation’s transparency/accountability.
Nygard slams 'utterly irrelevant attacks'
Peter Nygard yesterday blasted the “incessant and utterly irrelevant personal attacks” made against him by Louis Bacon and the Coalition to Protect Clifton Bay, dismissing them as lacking “any factual basis”.
Web shops possess financial licences
Several existing web shop operators already possess Financial and Corporate Service Provider licenses that allow them to conduct legal lending activities, their attorney revealed yesterday, blasting what he described as “pandering” to the commercial banks.
Cat Island trip targeting Illinois investment boost
A Bahamian delegation from Cat Island is forging a mutually beneficial ‘Sister Cities’ relationship with Richton, Illinois, in a move that could lead to increased foreign direct investment (FDI).
Top realtors given Baha Mar grounding
Thirty of the top performing sales brokers at Sotheby’s International Realty have been given an insider’s view of the luxury residential offerings at Baha Mar.
Bahamas aims to be Asia's finance centre of choice
By NATARIO McKENZIE
Credit Bureau would have cut $800m loan restructures
The Central Bank governor believes the almost-$800 million worth of loan restructurings over the past five years could have been significantly reduced had a Credit Bureau existed to prevent excessive borrowing.
‘No work permit, no tax but Nygard got my camera back’
A ‘whistleblower’ has alleged that Peter Nygard intervened to secure the release of his camera equipment, which had been seized by Bahamas Customs, even though he had neither paid due taxes nor possessed a valid work permit.
Bahamas urged: 'Knock down med tourism barriers'
The Bahamas must “knock down all the barriers that threaten the viability” of a medical tourism industry, a well-known surgeon warning there was a “disconnect” between rhetoric and reality.
'No deal close' on City Markets real estate sale
City Markets’ former principal says “no agreement is close” on a potential real estate deal that would have settled the pension obligations owed to one group of former employees.
Web shops need financial provider licence to lend
Legalised web shops will have to obtain a Financial and Corporate Services Provider’s Licence to continue their lending activities, bringing them under the proposed Credit Bureau.
BTC launches Long Island flagship store
The Bahamas Telecommunications Company (BTC) will today launch of a new flagship store in Deadman’s Cay, Long Island.
Gov't urged: Be realistic on VAT social spending
By NATARIO McKENZIE
