Importers to 'pay the price' over shipping oligopoly
By NATARIO McKENZIE
VAT could grow 'black economy'
Value-Added Tax (VAT) could result in the expansion of the ‘black economy’, a leading chief executive has warned, plus undermine consumer spending and the retail economy.
Crowley exit '110%' driven by competition
Crowley’s decision to exit the Bahamian shipping market was driven “110 per cent by competition”, the Arawak Port Development Company’s (APD) chief executive said yesterday, while revealing that the collective cargo capacity to Nassau was currently 52 per cent empty.
APD chief: 'fair concerns' over ship rate rise
The Arawak Port Development Company’s (APD) chief executive yesterday admitted that Bahamian importers had a “fair concern” about an increase in shipping rates following Crowley’s pull-out, but maintained that there were still “sufficient” carriers serving the market.
Gov't delays Cable deal 'related party' payouts for 30 months
Philip Keeping and Troy d’Arville, the Furniture Plus chief, will have to wait 30 months to be paid for their collective 37 per cent stake in an Orlando communications firm, due to government-imposed conditions on its acquisition by Cable Bahamas.
Cable growth triples with $100m US deals
Cable Bahamas is predicting that its almost $100 million worth of US acquisitions will triple annual revenue and operating income growth rates beyond what it would achieve if its activities remain confined to this nation.
Legitimate business boost from smuggling crackdown
CRACKING down on smuggling and counterfeit goods will boost sales volumes for legitimate retailers, the Minister of Financial Services said yesterday.
Credit Bureau Bill set for summer issue
THE CENTRAL BANK intends to issue its draft Credit Reporting Bill for public consultation before the end of summer 2013, its governor has confirmed.
Counterfeits undercut market prices by 50%
THERE is a “tangible” link between the smuggling of tobacco products and organised crime, it was stated yesterday, with one executive claiming that smugglers were likely to sell at prices 50 per cent below legitimate vendors as they are not paying taxes.
Ex-Barbados PM to speak on VAT
Former Barbados prime minister, Owen Arthur, will address the Grand Bahama Chamber of Commerce this Monday on his country’s experience with Value-Added Tax (VAT).
Gov’t gives initial backing to taxi deal
The Government has agreed “in principle” to a Heads of Agreement (HOA) with the nation’s taxi drivers, which will allow the industry to be owned and controlled entirely by franchise holders and potentially enable it to access $250 million in funding.
Crowley confirms Bahamas pull-out
Contractors are bracing for a further 10 per cent increase to construction material prices after the only shipping company providing direct service to the Bahamas from Jacksonville last night confirmed it would pull out come early August.
Water Corp's $8m defaults protected supplier 'breaches'
The Water & Sewerage Corporation was unable to hold Consolidated Water accountable for “numerous contractual breaches” because it owed the BISX-listed firm more than $8 million in defaulted payments.
Gov't will not 'relinquish landfill control'
The Government will “not be relinquishing control” of the Tonique Williams-Darling Highway landfill, a Cabinet Minister has confirmed, although private sector involvement in waste-to-energy is going to be allowed.
Atlantis targets new restaurant 'concept'
ATLANTIS is aiming to expand and upgrade at least three of its existing eateries, and potentially introduce a new restaurant concept, within the next 12-18 months.
