'Onerous' demands revive Business Licence outsource
The private sector is set to “re-engage” the Government over its proposal to take over the Business Licence process, amid renewed business cries about the “onerous” requirements they must meet.
Financial sector not growing enough to cope with 100 job losses
The Bahamian financial services industry is not growing at a fast enough rate to absorb the more than 100 job losses announced year-to-date, the Opposition’s finance spokesman fears.
FINCO consolidation hits BISX-listed fund
FINCO’s planned consolidation has hit a BISX-listed fund’s ambitions of reducing the vacancy rate at its flagship property, its administrator conceding this would now increase to almost one-third of available space.
Auto industry fears taxation 'realignment'
The Bahamian automotive industry has warned that it will have to “realign” due to the combined impact of Business Licence fee increases and the proposed Value-Added Tax (VAT), a development that could result in job losses and reductions in business size.
Port chief: Tropical's sale to benefit Bahamas
TROPICAL Shipping’s $220 million sale to Seattle-based transportation provider, Saltchuk, will provide the company with much stronger capabilities within the US and a capital base for investment in new ships and services, the Arawak Port Development Company’s (APD) chief executive believes.
Manufacturers 'out of business' with no tariff guards
Domestic Bahamian manufacturers and their 15,000-strong workforce will be “out of business” without tariff protection, a senior industry executive agreeing this had to be balanced with consumers’ needs.
VAT to impact 'acute' Out Island cash flows
THE proposed Value-Added Tax (VAT) regime will likely exacerbate the more “acute” cash flow issues facing Family Island businesses, a well-known attorney has warned.
Gov't urged to 'level investment incentives'
THE Government needs to “level the playing field” and offer Family Island business operators the same concessions and incentives as those granted to foreign developers, the Eleuthera Chamber of Commerce’s president has argued.
Radio spectrum fees $500k below target
Radio spectrum fees are generating almost $500,000 less than they should be, due to the existence of “legacy arrangements” with certain operators.
Did Gov't just issue $300m in junk bond debt?
The Government recently borrowed $300 million in the form of a US dollar bond issue. The minister of state for finance, Michael Halkitis, announced that the bond issue was oversubscribed and that institutional investors were willing to lend Government up to $6 billion. He further stated that the Government was pleased, and somewhat surprised, by the relatively low coupon rate (rate of interest that has to be paid on the bond) of 5.75 per cent instead of the expected 6.5 per cent rate. Mr Halkitis implied that this demonstrated the faith that investors have in the creditworthiness of the Bahamian government.
Renewed Ginn interest ‘breath of fresh air’
A Cabinet Minister yesterday described renewed investor interest in acquiring the former $4.9 billion Ginn sur mer project as “a breath of fresh air”, confirming to Tribune Business that activity had “spiked” in the past three months.
Stamp Tax policy 'opens the doors' to dishonesty
THE Bahamas Real Estate Association’s (BREA) newly-elected president yesterday said it was “grossly unfair” for the Government to levy Stamp Tax based on on appraisal values rather than the instant property transaction’s sales price.
Taxi sector independence: Gov't 'standing in way'
The Government is “standing in the way” of an independent taxi industry, a union leader charged yesterday, renewing his call for it to provide a ‘comfort letter’ that would unlock multi-million dollar financial backing.
BREA chief blasts part-time realtors
THE hiring of part-time realtors “should not be the norm”, the Bahamas Real Estate Association’s newly elected president said yesterday, suggesting the court ruling that paved the way for this practice had been misinterpreted.
Cable 'uniquely positioned' for cellular offer
Cable Bahamas has effectively confirmed it will bid on this nation’s second cellular licence whenever the auction process begins, its $350 million network investment making it “uniquely positioned to offer first class mobile services to the Bahamian people”.
