Broker 'caused' to supply false financial details
The mastermind behind a $340 million Ponzi fraud allegedly “caused” a BISX-listed firm’s broker/dealer affiliate to issue “fabricated financial information” that resulted in the value of investors’ holdings being overvalued by almost $149 million.
VAT alternatives 'don't generate revenue we need'
The private sector’s proposed Value-Added Tax (VAT) alternatives will not generate “the revenues we need” for a fiscal turnaround, a former finance minister argued yesterday, warning: “We’re running out of time.”
VAT 'uncertainty' may halt insurer savings pass-on
Uncertainties related to Value-Added Tax (VAT) may prevent Bahamian insurers from passing reinsurance savings on to consumers via reduced property and casualty insurance premiums.
RoyalStar on target to hit $4m profits
RoyalStar Assurance’s 2013 performance is on target to match last year’s $4 million bottom line, its managing director yesterday telling Tribune Business its new JFK Drive headquarters showed the firm was “here to stay”.
Business environment 'deters investment'
Cumbersome property registration and business licensing requirements are “deterring private investment”, the Inter-American Development Bank (IDB) has warned, while court costs associated with contract enforcement are equivalent to almost 30 per cent of claim value,
Baha Mar providing an art export 'springbroad'
WHILE the local market for Bahamian art work is still relatively small but “growing”, the National Art Gallery’s director said there was the potential for “exponential growth outside these borders”.
RUBIS tying up 'loose ends' on $1.3m rebrand
RUBIS is set to complete its aggressive $1.3 million network re-branding in the Bahamas by year’s end, a company executive said yesterday, as it moves to tie-up some “loose ends” in the Family Islands.
Gov't fiscal plans are 'bearing fruit'
THE Government’s fiscal turnaround plans are starting to “bear fruit”, the minister of state for finance yesterday pointing to the almost 50 per cent cut in its first quarter deficit year-over-year.
ART OF GRAPHIX: Crafting the perfect work
What is the difference between art and craft? This question is not new, as the boundaries between craft and art have long been contested. I believe that to define anything as either art or craft may seem iniquitous when, in fact, both are on a spectrum that can be described as ‘skill’ or ‘Talent’.
SIMON COOPER: Foreign examples show Bahamas the way on VAT
With the draft Value-Added Tax (VAT) Bill out for consultation, it is appropriate to consider the experience of other countries on the subject.
S&P: downgrade if no tax ‘follow through’
The Bahamas will suffer another credit rating downgrade within the next six-nine months unless it “follows through” on Value-Added Tax (VAT) or some other structural revenue reform following the 2014-2015 Budget.
IDB blasts Gov’t debt management strategy
The Inter-American Development Bank (IDB) has criticised the Government’s debt management strategy, warning that its reliance on domestic investors to cover a $1.2 billion financing gap would “likely be more expensive” and create an increased fiscal burden.
Johnny Canoe chief creates 20 jobs through new eatery
Johnny Canoe’s principal has returned to the restaurant business with venture that has created 20 jobs, telling Tribune Business he aimed to make it “just as good and hopefully better” than the well-known eatery where he made his name.
Sandals rep planning 100 jobs via new HQ
UNIQUE Vacations, the New Providence-based sales and marketing company, will create up to 100 jobs when it opens its new corporate headquarters in summer 2014.
Bahamas fails to enact 27% energy demand cut plan
The Bahamas has yet to implement efficiency and conservation measures that could slash hotel and residential energy demand by 27 per cent, the Inter-American Development Bank (IDB) has revealed.
