Cat Island project nearly 'off to races'
THE Government is considering a proposal for Cat Island that could potentially create hundreds of new jobs, Prime Minister Perry Christie said yesterday.
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Current account widens by 1/3
The Bahamas’ current account deficit widened by “one-third” to $1.46 billion in 2012, due to the fuel import bill.
Renewable energy duty slashes 'long overdue'
The Government’s plan to eliminate import duties on solar panels and associated inverters was yesterday described as “long overdue”, sending the signal it was serious about facilitating renewable energy and reducing the Bahamas’ reliance on fossil fuels.
Contractor chief warns on fee rises
BUILDING permit fee increases could adversely impact the level of construction activity, going forward the head of the Bahamian Contractors Association (BCA) warned yesterday, arguing that the sector was not able to bear any additional costs at this time Come July 1, the Government intends to increase building permit fees and introduce new fees, but Godfrey Forbes said the Bahamian construction sector was only just beginning to rebound and that he did not endorse any additional burdens on the consumer.
PM unveils Bahamas ‘Mardi Gras’ plans
PRIME Minister Perry Christie said yesterday that the Government has allocated $1 million for the development of a week-long Bahamian Carnival or ‘Mardi Gras-style festival’ that will kick off in 2015.
Gov’t urged: Learn why farmers ‘catching hell’
THE Government was yesterday urged to create a sustainable development plan for the Bahamian agricultural sector, after stating its planned agriculture school could “dent” the Bahamas’ $500-$600 million food import bill by 15 per cent.
Smuggling fears over tobacco tax
A tobacco retailer yesterday expressed concern that the Government’s plan to impose a ‘per stick’ duty rate on cigarettes and cigarillos could cause persons to bring them in “under the table”.
Gulf Union creditors to get '5-15 per cent extra'
Creditors of the long-defunct Gulf Union Bank (Bahamas) could receive “anywhere from 5-15 per cent extra” in dividend distributions, its liquidator said yesterday, as a result of a recent Supreme Court ruling.
Stopover visitor share off 7% pts
The all-important stopovers market has seen its share of total visitors to the Bahamas drop by seven percentage points since the financial crisis, reaching the point where it accounts for just one out of every four tourists.
Ninety per cent of small firmsto 'forego' new finance market
Ninety per cent of Bahamian small and medium-sized businesses will likely miss out on the financing opportunities offered by BISX’s proposed commercial paper market due to “indiscipline”, a leading consultant warned yesterday.
Long insolvencies 'reflecting badly on the Bahamas'
The lengthy time taken to complete corporate liquidations “reflects badly on the Bahamas as a jurisdiction”, a senior attorney warned yesterday, adding that a “significant” court ruling should help speed up insolvency processes.
Venture Fund eyes six start up approvals
The Government-sponsored venture capital fund is preparing six start-up prospects for approval at its June 13 Board meeting, as it switches its focus “away from New Providence”.
Growing sports, entertainment tourism 'seed'
TOURISM Minister Obie Wilchcombe said yesterday that his Ministry was working on attracting more top sporting and entertainment events to the Bahamas, adding that the success of recent events such as the Pure-Silk Bahamas Ladies Professional Golf (LPGA) tournament had set the platform for growth.
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