Bahamas urged to ‘modernise’ retail pricing
The Bahamas needs to “modernise” its entire retail pricing system, a senior Chamber of Commerce executive said yesterday, arguing that this nation should fall into line with major jurisdictions by using ‘shelf pricing’ as opposed to ‘item pricing’.
Bahamasair eyes 80-90% loads
BAHAMASAIR’S load factors into Florida this weekend are in the high 80 and low 90 per cents, the airline’s deputy general manager, Van Diah, revealed yesterday, adding that the carrier was tapping into a good share of tourist traffic this Christmas.
Cuban oil exploration ‘good news’ for Bahamas
While the Bahamas prevaricates over a possible 2013 referendum, Cuba is stealing a march on it when it comes to oil exploration.
Banks restructure $606m in loans over 12 months
Commercial banks have restructured $606 million worth of troubled loans within the last 12 months, a leading accountant said yesterday, warning that the sector could not be expected to stimulate the Bahamian economy through “aggressive lending” as long as credit kept falling into arrears.
‘Dogmatic’ Price Control threat to Fresh market
AML Foods chairman yesterday blasted the “dogmatic” approach taken by the Government’s Price Control Department for damaging its Solomon’s Fresh Market brand, warning that profits were being threatened by an insistence that all products in certain categories be regulated.
Wholesalers hope Sysco leaves food retail for locals
WITH the Bahamas Food Services/Sysco deal moving forward, one Bahamian wholesaler yesterday expressed hope that Bahamian-owned suppliers could survive if the Texas-based distribution giant stuck to serving the hotel industry.
‘Bottom up’ growth call over $12bn GDP target
The Government was yesterday urged to grow the Bahamian economy from the ‘bottom up’ through small business development, a leading consultant suggesting this nation needed to increase annual GDP to $12 billion to escape its looming fiscal crisis.
Realtors: ‘wow impact’ from Duty cut to 6%
Top realtors have urged the Government to cut Stamp Duty rates to 6 per cent “across the board” in order to have a “wow impact” in stimulating the housing market and wider Bahamian economy.
Task Force to study Genting energy report
PRIME Minister Perry Christie yesterday said the Government would appoint a Task Force to assess the recommendations from a free energy feasibility study by Genting Energy Group, its head noting that some reforms to the sector were needed.
Economic awakening from the ‘bottom up’
Bahamian policymakers have long focused on ‘top down’ economic strategies to improve tourism, financial services and construction for almost 40 years.
THE ART OF GRAPHIX: How to lead the design charge
Have you often scratched your head repeatedly just because you didn’t know what to charge a potential client?
Hotel booking pace ‘behind’ for 2013 Q1
The Bahamas Hotel and Tourism Association (BHTA) yesterday warned that the resort booking pace for the 2013 first quarter was currently “behind” 2012 comparatives, although average occupancies for the Christmas/New Year period are expected to be 2-3 per cent up.
PM confirms approval for Sysco’s BFS deal
PRIME Minister Perry Christie yesterday confirmed that the Government had decided to approve Bahamas Food Services’ (BFS) takeover by multi-bilion US giant, Sysco, promising his administration would ensure that Bahamian wholesalers were not “unduly impacted” by the sale.
Fiscal woes require more than ‘band aid’
The Bahamas needs “substantially more than a band-aid” to address its fiscal problems, a leading businessman yesterday questioning whether ongoing maintenance/operating costs for new infrastructure projects had been factored into future Budgets.
Bahamas ‘20 years behind’ Canada on Payment systems
Private sector leaders yesterday hailed the Central Bank’s planned 2013 electronic payments initiatives as “long overdue”, adding that the Bahamian commercial banking system was 20 years behind Canada in the adoption of such technology.
