Gov't can use 75% 'no show' mandate to legalise gaming
The Government can use the fact that 75 per cent of the electorate failed to vote in Monday’s referendum as “a mandate” to legalise web shop gaming, a leading businessman said yesterday, although it is apparently willing to risk potential “turmoil” from shutting the sector down.
Referendum leaves Bahamas exposed to laundering sanctions
THE Bahamas remains exposed to potential international sanctions over illegal web shop gaming as a result of Monday’s referendum, the ‘Yes’ vote campaign co-ordinator wartned yesterday.
Bimini developer invests $2m in ferry faclities
RAV Bahamas, parent company of the Bimini Bay Resort & Marina, has invested $2 million in infrastructure to accommodate Balearia Ferry Group’s Bahamas Express ferry service between Bimini and South Florida.
Minister: Web shop money laundering fear 'not very high'
A Cabinet Minister yesterday said money laundering concerns stemming from a banned/underground web shop gaming industry were “not very high”, but others said it would be “naive” not to think the situation may attract international attention.
Fishermen enduring hard lobster season
THE 2012-13 crawfish season has been rough, according to Bahamas Commercial Fishers Alliance (BCFA) president Adrian LaRoda, who yesterday said bad weather, market prics and poaching were all to blame for the downturn.
Bahamas is facing FATCA 'trade-offs'
The Bahamas will have “to make some trade-offs” in negotiating an Intergovernmental Agreement (IGA) with the US, a leading accountant said yesterday, adding that his clients were “more comfortable” taking this route to meet Foreign Tax Compliance Act’s (FATCA) requirements.
BFSB summit focuses on tax, regulatory demands
The global focus on taxation, anti-money laundering and demands for greater transparency will be discussed at this week’s International Business & Finance Summit (IBFS).
'Mergers' boost Fidelity funds' assets by $8m
RoyalFidelity Merchant Bank & Trust yesterday said it had used ‘mergers’ to increase the asset bases of its two oldest mutual funds by $8 million apiece, adding that a net $1 million subscriptions inflow into its equities fund indicated renewed demand for listed stocks.
Top realtor firm says 2012 sales volumes up 14%
A prominent Bahamian real estate firm told Tribune Business yesterday that its 2012 sales volumes were up 14 per cent year-over-year, its president adding: “We have started 2013 on the right foot.”
AID sees record Xmas with 8.6% sales rise
AUTOMOTIVE Industrial Distributors (AID) yesterday said it had regained the momentum lost when fire destroyed its Wulff Road headquarters, as it comes off a record December performance where sales were up year-over-year by 8.6 per cent.
RoyalFidelity targets $10-$15m for new fund as 'sales highlight'
RoyalFidelity Merchant Bank & Trust is aiming to grow its newly-launched mutual fund to $10-$15 million in assets under management by year-end, telling Tribune Business yesterday this would be the “sales highlight for 2013”.
Bahamas 'leaps and bounds' behind rivals on renewable energy
RIVAL Caribbean nations are “leaps and bounds ahead of the Bahamas” on renewable energy implementation, although one local provider is aiming to close the gap by investing in development of a trained installation workforce.
Bahamas ‘leaps and bounds’ behind rivals on renewable energy
RIVAL Caribbean nations are “leaps and bounds ahead of the Bahamas” on renewable energy implementation, although one local provider is aiming to close the gap by investing in development of a trained installation workforce.
Minister slams G-20's 'unprecedented assault' on financial industry
The Minister of Foreign Affairs has used a regional summit with the European Union (EU) to hit out at “the unprecedented assault” on the Bahamas’ financial services industry, arguing that the sector was subject to regulatory standards that matched those in developed countries.
Oceania dispute threatens Bahamas investor standing
THE Bahamas’ reputation as a prime destination for foreign direct investment (FDI) is being threatened by the dispute over the controversial Oceania Heights project, a homeowner at the devlopment believes.
