Rubis to re-brand 31 former Texaco sites by September
RUBIS plans to “ramp up” its brand promotion in the next two to three weeks, as it gets set to re-name 31 Texaco locations beginning this August.
Manufacturer: 66% Licence rise offset by duty exemption
A Bahamian manufacturer is eyeing a “significant” 66 per cent Business Licence fee rate increase as a result of the proposed 2013-2014 Budget changes, although this is more than offset by the sector’s continued import duty exemptions.
MasterCard initiative sees 55% Bahamian merchant increase
The number of Nassau/Paradise Island retailers participating in MasterCard’s Priceless Bahamas programme has increased by 55 per cent since it started in 2008, this year’s version featuring 56 merchants with 70 locations.
Yacht registry to boost Out Islands
MINISTER of Financial Services, Ryan Pinder, yesterday said his ministry was heavily involved in the development of a Bahamian yacht registry, in a bid to create jobs and develop the Family Islands.
Gov't raises subsidies for BCB and B'air
The Government has actually increased taxpayer subsidies for some state-owned corporations despite previous indications these could be cut by up to 10 per cent for the 2014-2015 fiscal year.
Baha Mar facing 'lot of pressure'
Baha Mar faces “a lot of pressure” to drive economic and fiscal recovery, a Moody’s analyst yesterday questioning whether there was enough tourist demand to fill the net 2,100 room increase at Cable Beach.
BTC deal 'way beyond' 129% dividend growth
The “national interest” means the Government has no reason to leave the Bahamas Telecommunications Company (BTC) alone, despite its projections of a 129 per cent increase in the dividends it will earn from the carrier.
S&P demands $162m spend cut details
Standard & Poor’s (S&P) yesterday urged the Government to detail the $162 million in recurrent spending cuts that will enable it to beat 2012-2013 deficit projections, questioning how it had achieved this when revenues under-performed by 11 per cent.
‘Poised for growth’ with $176m market wealth rise
A top businessman yesterday said the Bahamian economy was “poised to have a good inning”, with stock market investors having seen a collective $176 million increase in the value of their investments year-to-date.
Moody's: Budget 'hit right notes'
The Government’s 2013-2014 Budget “hit a lot of the right notes” for one Wall Street analyst, who yesterday told Tribune Business the plans should prevent the Bahamas’ debt metrics “spiralling out of control”.
$1bn borrowing pushing nation to 67% debt mark
The Christie administration is set to smash the $1 billion borrowing mark for its first two years in office, it was revealed yesterday, with the Bahamas likely to hit a 67 per cent total debt-to-GDP ratio by end-June 2014.
Gov't 'right to penalise' Canada banks via taxes
A leading businessman yesterday backed the Government’s move to “hit the banks hard” with new and increased taxes, arguing that the Canadian-owned institutions had helped to bring this upon themselves.
BREA chief 'over the moon' on duty exemption extend
The Bahamas Real Estate Association’s (BREA) president yesterday said he was “over the moon” due to the Government’s decision to extend the first-time buyer Stamp Duty exemption for another five years, telling Tribune Business: “It’s Christmas.”
Auto dealer worry over 'dramatic price' rises
Bahamian new car dealers yesterday warned that the Government’s latest tax proposals would further drive consumers towards used autos, with the constant reforms creating “turmoil” in the market.
Gov'ts 'devil in the details' with 44-strong reform slate
The Government yesterday unveiled a “devil’s in the detail” Budget for the 2013-2014 fiscal year, unveiling a 44-strong package of tax reductions and increases that will impact a wide cross-section of the private sector.
