'Frustrated' waste energy group offers $3.7bn boost
A waste-to-energy developer proposing a solution that could give the Bahamas a $3.7 billion return over 10 years yesterday said separating the Tonique Williams-Darling Highway landfill from BEC reform was “the wrong way to go”.
Concerns over Polymers trade benefit 'erosion'
The Bahamas has expressed concern over “the erosion of US trade preferences” for its polystyrene industry, largely Polymers International, despite
Ex-February Point staff seek answers over $380k 'owing'
Terminated employees yesterday blasted Exuma’s February Point development for keeping them in the dark over when they would be paid an estimated $380,000 in due severance pay and salaries, as the island’s MP admitted he was “very concerned”.
Missing property taxes over $1/2bn
Almost $95 million in real property taxes went uncollected during the 2010-2011 fiscal year, taking the total sum outstanding to what the Auditor-General described as an “exorbitant” $541.886 million.
Tipping fees cover just 1/6th of landfill costs
Tipping fees at the Tonique Williams-Darling Highway landfill failed to cover even one-sixth of the facility’s $6.491 million operating costs during the 2010-2011 fiscal year, it has been revealed.
Bahamas set to beat $14m revenue goal from sports tourism
REVENUES generated from sports tourism this year could be much more than the initial projections of $14 million, Tourism Minister Obie Wilchcombe said yesterday.
BTC owner announces new chief executive
The Bahamas Telecommunications Company’s (BTC) majority shareholder yesterday unveiled Phil Bentley as its new chief executive, succeeding Tony Rice with effect from January 1, 2014 2014. He will also succeed Mr Rice as BTC’s Board chairman on the same date.
Renewables 'unexploited' via paltry $4.6m spend
The Bahamas was yesterday said to have left its abundant renewable energy resources “almost entirely unexploited to date”, with just $4.6 million invested in the sector over the past seven years.
Business deterrent warning over VAT on commercial property
A top realtor has warned the Government that it will discourage more Bahamians from opening their own businesses if it decides to levy Value-Added Tax (VAT) on commercial real estate sales and leases.
Bahamas targeting ‘novel’ fund vehicle
Legislation is being drafted for the creation of a “novel” fund vehicle that could be ‘married’ to the SMART Fund 7 model, the minister of financial services said yesterday.
$6bn project confident 'approval in principle' coming early next week
The developers behind a $6 billion resort project yesterday said they were confident the Prime Minister will “immediately issue an approval in principle” for the development following their meeting on Monday.
FOCOL energy JV non-participant in BEC tender
The power plant joint venture involving FOCOL Holdings and Grand Bahama Power Company’s majority shareholder has decided not to enter the Bahamas Electricity Corporation (BEC) bidding process, it was confirmed yesterday.
US policy changes give aircraft registry boost
A prominent aviation attorney has praised the Government for moving swiftly to safeguard the Bahamas’ Category One status with the Federal Aviation Administration, adding that US policy changes could boost this nation’s aircraft registry hopes.
SCOTT FARRINGTON: If you claim it, then prove it
You will find in my articles that I am straight to the point; no sugar coating, no smoke and mirrors. So here goes
Ministry revises FATCA agreement 'language'
The Ministry of Financial Services has finalised its proposed revisions to the ‘language’ of the Foreign Account Tax Compliance Act (FATCA) agreement (IGA) that it hopes to sign with the US Treasury, a Cabinet minister said yesterday, touting this nation as being among the first to issue a tender for the development and implementation of a FATCA reporting system.
