Commercial court can become reality ‘within one year’
The Bahamas could have a functioning commercial court within a year of the Cabinet deciding to establish it, a senior QC told Tribune Business yesterday, adding that such an investment “would more than pay for itself in a very short time period”.
Contractor earns $5-$6m from ‘way of the future’
A Bahamian contractor yesterday said he had used an alternative construction method to build $5-$6 million worth of homes in the past two years, reducing client costs by 20-30 per cent through “the way of the future”.
Contractors Bill ‘next hot topic’ after gaming
The pending Contractors Bill will become “the next hot topic” in the Bahamas once the gaming referendum is over, a leading industry executive said yesterday, pledging to get the legislation to Parliament by April.
BREA chief: ‘I can’t explain’ Stamp exemption’s importance
The private sector is developing suggested amendments to the Stamp Act and first-time home buyer exemption “on the basis” that the latter will be extended beyond June 30, a leading developer yesterday saying he “can’t begin to explain” how important that is.
Homeowners Association ‘solution’ for Oceania
Control of the controversial Oceania Heights project should be handed over to a self-governing Homeowners Association, one purchaser yesterday saying this would help “clear up” all disputed issues and enable the development to “become what it should be”.
Real estate market ‘far stronger’ from Duty exemption talks
“Productive” discussions between the Government and real estate-related professions over the ‘first-time buyer’ Stamp Duty exemption should stimulate “a far stronger and more active market”, Tribune Business was told yesterday.
Suppliers hammer PHA over multi-million bid exclusion
Bahamian medical equipment and pharmaceutical suppliers yesterday blasted the alleged continued refusal to include them in the bidding process for multi-million dollar contracts related to the Princess Margaret Hospital expansion, arguing that “none of this investment will be recycled” in the local economy.
Chamber chief ‘astounded’ by 4,000 VAT payers
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chief executive yesterday said he was “astounded” by government figures showing less than 4,000 companies would be liable to pay Value Added Tax (VAT), adding that this emphasised the urgency of passing legislation designed to strengthen the small business sector.
GB Power offering 35% oversubscribed
Grand Bahama Power Company (GBPC) yesterday announced that its $32 million preference share issue had closed a week earlier than planned, after it was oversubscribed by more than 35 per cent.
Gov’t ‘victim’ in Oceania dispute
The Government is also “a victim” in the dispute raging at the controversial Oceania Heights development, one homeowner telling a Cabinet Minister that the situation is “jeopardising the Bahamas reputation as a stable country and investment destination”.
BFSB Summit ‘opens arms’ to innovation
Creativity and innovation will determine the future viability of international financial services centres, the Paul Winder, the Bahamas Financial Services Board’s (BFSB) chairman believes.
Bahamas officials aid WTO accession
Two Bahamian officials have attended the 25th Geneva Week, where they participated in consultations that will help this nation in its accession to the World Trade Organisation (WTO).
Ocean Club gains new general manager
The One&Only Ocean Club has appointed John Conway as its general manager, with responsibility for operations at the resort.
Teaching yourself is the real world
Do you have the ability to self-teach?
RoyalStar: ‘Significant’ $4m profit despite Sandy
A leading Bahamian insurer yesterday said it generated a “significant profit” of around $4 million for 2012 despite Hurricane Sandy, adding that its conservative “philosophy” had been vindicated by an ‘outlook upgrade’ from the sector’s top rating agency.
