‘Mind blowing’: Under 4,000 firms face paying VAT
Under 4,000 Bahamian companies would likely face having to pay a Value-Added Tax (VAT), a Cabinet Minister describing as “mind blowing” the fact over 85 per cent of businesses might be exempt.
Logistics provider targets 35% saving
A Bahamas-based logistics provider yesterday said its new supply chain management product could save local businesses “up to 35 per cent” of their current import costs, pledging that it would “open up their horizons”.
Bahamas 40% pts behind on pension participation
The Bahamas has to increase its pension plan participation rate by at least 40 percentage points to catch up with developed economies, a leading industry executive yesterday urging that mandatory retirement savings was “where we must be”.
Insurer targets ‘doubling’ of its Turks business book
J. S. Johnson is aiming to “double” its Turks & Caicos islands book of business within the next two years, its managing director telling Tribune Business that it had to be “mindful” that foreign insurers were entering the Bahamian market.
Occupancy rise to lower Air Fare Credit dependency
With hotel occupancies slowly returning to pre-recession levels, a top industry executive believes the sector could start to “wean itself off” promotions such as the Air Fare credit, agreeing that the $14 million pumped annually into the initiative was unsustainable.
Gov’t revenue ‘unsustainable’
Dubbing the Government’s current revenue collection methods as “unsustainable”, the Financial Services Minister yesterday announced public consultations on tax reform will begin shortly.
‘Follow ups’ vital to sales generation
While driving last night I was listening to another ‘I Love Marketing’ podcast.
Intelligence provider to address BFSB’s Summit
A leading intelligence provider for the private banking industry is a featured speaker at the upcoming International Business & Finance Summit (IBFS).
Gov’t pushed NIB’s City Markets HQ acquisition
The Government pushed the National Insurance Board (NIB) to examine acquiring the former City Markets head office on the East-West Highway, it was revealed yesterday, with appraisal values for the property gyrating between $7.2 million and $9.9 million.
BEC union makes ‘no response’ to outages threat
The union representing the Bahamas Electricty Corporation’s (BEC) line staff yesterday said it would not “take any more” attacks by its executive chairman over overtime pay, and threatened that its members would refuse to respond to emergencies such as major power outages.
Gov’t to tackle ‘huge’ unfunded public pensions
The Government is moving to tackle its “huge” unfunded pension liability to the public sector, a Cabinet Minister telling Tribune Business that the general lack of retirement savings was “a social timebomb” for the Bahamas.
Insurer: 2013 Profits increase ‘for sure’
J. S. Johnson is targeting a “modest single digit” bottom line increase for 2013, its managing director yesterday saying profits would increase “for sure” given reduced claims losses last year.
BEC pension, medical plan ‘unfair’ to Bahamian taxpayers
The BAHAMAS Electricity Corporation’s (BEC) executive chairman yesterday said it was “unfair” for the cash-strapped utility monopoly to continue paying 100 per cent of all employee pensions and medical benefits, claiming that the medical plan alone had cost it $30 million over the past five years without employees paying “a single dime”.
BISX targets Brazil following ‘huge win’
The Bahamas International Securities Exchange (BISX) is heading to Brazil “to solicit recognitions” from that jurisdiction’s major regulators, after Latin America’s “doors were opened” by this nation attaining the top international securities industry ranking.
Baha Mar dismisses fear of Atlantis ‘cannibalisation’
Baha Mar has emphatically rejected concerns that it will “cannibalise” Atlantis’s room rates and labour market when it opens in 2015, a senior executive telling Tribune Business the project would increase the Bahamas’ GDP by “at least 10 per cent” that year.
