Minimum wage rise plan 'dangerous, ludicrous'
Private sector leaders yesterday branded the Government’s plans to increase the minimum wage as “dangerous” and “ludicrous”, warning that it risked increasing unemployment and further undermining the Bahamas’ cost competitiveness.
Private sector: We'll withdraw VAT consent if no wider reforms
The Bahamian private sector yesterday warned it will withdraw its consent to Value-Added Tax (VAT) “at any percentage” if the Government fails to follow through with wide-ranging fiscal reform, saying of the latter: “It’s not an if; it’s a must.”
Baha Mar promises no $10m draw down
Baha Mar has pledged not to ‘draw down’ a $10 million Letter of Credit posted by Morgans Hotel Management Group, as it bids to end their court dispute following termination of the latter’s 20-year operating deal.
BTC goes ‘back to the future’ with Williams
The Bahamas Telecommunications Company (BTC) yesterday confirmed it had gone ‘back to the future’ with the long-awaited return of Leon Williams as its chief executive, its controlling shareholder denying there had been “pressure” from the Prime Minister or Board for his appointment.
BTC share deal close 'imminent'
CABLE & Wireless Communications (CWC) chief executive, Phil Bentley, said yesterday that the conclusion of the ‘2 per cent of shares’ in the Bahamas Telecommunications Company (BTC) deal with the Government was “imminent”.
Economist urges education, not minimum wage, focus
INCREASING the minimum wage could ultimately reduce employment and limit the ability of the economy to grow, a top Bahamas-based economist warned yesterday, urging the Government to instead focus on increasing the skills and productivity of the workforce.
Bank says E-Alert gaining traction
Bank of the Bahamas (BOB) says its eNotifier service, which keeps customers in touch with their accounts at all times, is gaining increasing customer acceptance.
Gov't urged: Direct privatise proceeds to debt reduction
The Government was yesterday urged to “restrict” all proceeds derived from public asset sales, such as the impending Bahamas Electricity Corporation (BEC) privatisation, solely to paying down the $5.567 billion national debt.
Out Island hotels in 15% occupancy boost
Family Island hoteliers believe an aggressive marketing approach has helped increase tourist arrivals by 14.7 per cent year-over-year for the 2014 first quarter.
VAT real estate 'game changer'
Value-Added Tax’s (VAT) impending implementation may give buyers “the push” to secure properties before January 1, one realtor suggesting: “It may be better to do it now rather than seven months from now.”
Resorts World in local hiring
Resorts World says it hired dozens of Biminites following a Career Fair held on the island last Wednesday.
BFSB announces five Landfall promotions
The Bahamas Financial Services Board (BFSB) has teamed with its Ministry of Financial Services co-sponsor to schedule five Bahamas Landfall events between August and October, as it targets business opportunities in Latin America and China.
BISX chief in $15m Bargain City deal
The Bahamas International Securities Exchange’s (BISX) chief executive is a principal in a $15 million deal to acquire the well-known Bargain City Shopping Plaza on Carmichael Road.
Heads of Agreement 'like an AIDS virus'
The lead attorney for opponents of Bimini’s cruise ship terminal yesterday likened Heads of Agreement deals with major developers to “an AIDS virus in the body politic” of the Bahamas.
Wilson: Income tax the 'most equitable'
A leading businessman believes there “is no question” that income tax is the most equitable fiscal reform option, but the Bahamas has run out of time to implement it.
