Minister forming team to 'proceed with haste' on FATCA assessment
The MINISTER of Financial Services yesterday said he was in the process of forming a Foreign Account Tax Compliance Act (FATCA) team to“proceed with haste” with an assessment of the second model Intergovernmental Agreement released by the US Treasury Department.
Cable pushes US fast track on 'substantial break-up fee'
Cable Bahamas is seeking ‘fast track’ approval for one of its US acquisitions by December 15, Tribune Business can reveal, on the grounds that it would be exposed to “a substantial financial loss” if the deal failed to close by that date.
Dealer's 'double whammy' via 20% used car decline
A Bahamian auto dealer yesterday told Tribune Business he was facing a ‘double whammy’, with a 15-20 per cent drop in year-over-year used car sales meaning they were unable to compensate for new model woes.
AG's Office asked to 'authenticate' water franchise
The former minister of the environment asked that the Attorney General’s Office “authenticate” the 25-year water franchise agreement between the Government and New Providence Development Company (NPDevCo), Tribune Business can reveal.
BEC chair targets $60m fuel savings
The BAHAMAS Electricity Corporation’s (BEC) executive chairman yesterday said it could save a minimum $60 million annually in fuel costs through the procurement of three new engines for the Clifton Pier power station, telling Tribune Business the benefits would ultimately be passed on to consumers.
Casino reforms can 'double' win
The Bahamian casino industry can “double the size of the win” if proposed reforms are enacted, a senior hotel executive saying it would give this nation “bragging rights” in attracting new and current gamblers.
Water Corp lacks 'capacity' to meet western NP demand
The Water & Sewerage Corporation would incur further losses if it attempted to supply western New Providence, its immediate past president yesterday telling Tribune Business the utility “just doesn’t have the capacity” to meet that extra demand.
THE ART OF GRAPHIX: Design choices an intricate web
Although both web and print designs have a common ancestry, it is necessary to understand that they have many differences and similarities. Recognising these (differences and similarities) can determine the route one takes, skills acquired and the company they choose.
Actuaries attending Nassau conference
THE impact of current trends in risk management and pension governance will be at the forefront of discussions at this year’s Caribbean Actuarial Conference.
Realtor chief at regional summit
NAI BAHAMAS chief executive, Larry Roberts, is attending the organisation’s regional conference in Bogota, Colombia.
RoyalStar eyes 22% Sandy profits cut
RoyalStar Assurance yesterday said Hurricane Sandy would wipe out about 22 per cent of its projected 2012 profits, its managing director estimating total insured claims would come in at $4 million on a “net book” basis.
Total PMH rebuild needs $750m-$1bn
Building a brand-new “world class” hospital to replace the Princess Margaret (PMH) facility demands a $750 million to $1 billion investment, a sum requiring that it be done via a “four-pronged” development strategy.
Insurers projecting $30-$35m Sandy losses
Bahamas First’s president yesterday estimated that Hurricane Sandy would generate $30-$35 million in total insured losses for the Bahamian property and casualty market, with both his company - and the overall industry - looking at sums equivalent to “50-60 per cent” of Irene levels.
$1bn firm's Bahamian CEO has 'big eye' on local developments
The Bahamian chief executive-elect of a $1 billion company yesterday told Tribune Business that it was examining several potential real estate development projects in this nation, adding that his achievement showed “ordinary people can do extraordinary things”.
Minister considers independent auditor over NIB allegations
LABOUR and National Insurance Minister, Shane Gibson, yesterday said any decision on the fate of National Insurance Board (NIB) director Algernon Cargill was “not a Cabinet issue at this time”, adding that he wss considering whether an independent auditor be brought in to investigate the allegations against him.
