Bahamas may negotiate own Canada trade deal
The Bahamas could negotiate its own bilateral trade agreement with Canada if CARICOM fails to achieve a regional deal by the June 30 deadline, a Cabinet Minister yesterday reassuring that exporters’ duty-free market access was not under threat.
Mobile card machine gives business boost
Bank of the Bahamas International has launched a mobile credit card machine that allows customers to pay with plastic anywhere, anytime.
$900k contract signed for water regulation
The Water and Sewerage Corporation (WSC) has signed a contract worth over $900,000 with four advisers, including two Bahamian companies, for the overhaul of the water industry’s economic and environmental regulatory framework.
The Bahamas tops region on royalty payments
The Obama administration has praised the Bahamas for being the only Caribbean nation to make royalties payments to TV programming rights holders in 2013, boosting this nation’s reputation as a “responsible trading” partner.
'Special demands' sank $20m project
The Government refused to approve a $20 million agriculture project for North Andros because it did “not warrant” the special treatment it was seeking in the form of investment incentives.
Bahamian firm to penetrate new markets via 'marriage'
A Bahamian software provider believes “a very interesting marriage” will enable it to penetrate Europe and larger clients, and enable it to hire four-five more local staff within the next year.
National Health 'dead on arrival'
National Health Insurance (NHI) is “dead on arrival” unless the Government can develop an affordable contributory plan, an outspoken businessman urging it to “look at itself” before it approaches the private sector.
FamGuard's 36% profit rise meets 'strong expectations'
Family Guardian’s holding company met “strong budgetary expectations” for 2013 with a 26.3 per cent comprehensive income rise, with net assets boosted by over $20 million via the consolidation of its mutual fund family.
GB Power: We missed return target by $5.26m
Grand Bahama Power Company says it undershot its regulator-approved rate of return by $5.26 million for the year to end-December 31, 2013, due to the weak economy and reduced sales.
'What's point of WTO if still uncompetitive?'
A Tax Coalition co-chair has questioned the rationale for the Bahamas becoming a full World Trade Organisation (WTO) member, given that it cannot compete with lower cost Caribbean rivals.
Deposit insurer facing upgrade
The Central Bank has moved to review the “legislative framework” for the Deposit Insurance Corporation, which saw its assets increase by $4.5 million to end 2013 at $32.1 million.
$39m Port builder helps fire relief
China Harbour Engineering Company (CHEC) has teamed up with the Government to provide relief supplies to more than 100 Abaco residents who were left homeless following a fire.
'Key' reserves benchmark off target for 10 months
A “key” external reserve benchmark was below its target threshold for the final 10 months of 2013, the Central Bank of the Bahamas has revealed, dropping more than 10 percentage points below minimum in the Christmas run-up.
Aragonite developer plans factory outside Port area
The manufacturing facility for a proposed $50 million aragonite mining project will be located on Grand Bahama outside the Port area, a spokesperson yesterday saying it was unclear whether Wednesday night’s Town Meeting was truly representative of local community opinion on the project.
Greatest debt ratio cut from spend drop
Increased tax revenues will not by themselves cut the Bahamas’ debt-to-GDP ratio to desired levels, a Tax Coalition co-chair yesterday telling Tribune Business that comprehensive fiscal reform must be this nation’s “mantra”.
