Association holds its first education event
THE Bahamas Investment and Securities Business Association (BISBA) has held its first Continuing Professional Education Seminar under the topic ‘New Products and Regulations in the Bahamian Financial Services Industry’.
The more complex we are, the worse the fall
It’s rumoured that the first thing mankind did after they stumbled into caves was to invent wicker doors, and to apportion space for different uses. This culminated in the huge, polluting cities that threaten our sanity and health. Ironically, for many city dwellers the perfect holiday has become time spent outdoors (and, perhaps, sometimes with no clothes on).
Fresh Market's 15-20% sales fall beats expectation
AML Foods yesterday told Tribune Business that sales at its western New Providence Solomon’s Fresh Market store had dropped 15-20 per cent below their peak over the last six months, although this was less than the summer norm for businesses in that area.
AML: 148% profit increase aided by same store sales
AML Foods yesterday said an 8-9 per cent same-store sales increase helped to grow its second quarter profits by 148.4 per cent before pre-opening costs, as it braces for an anticipated “banner year” in 2013.
$105m power plant 'a bloody nightmare'
BEC’s $105 million Wilson City power plant was yesterday described as an “exercise in bad governance”, Progressive Liberal Party (PLP) chairman Bradley Roberts telling Tribune Business that no rational reason had been given for the plant’s removal from the preferred Snake Cay site.
FATCA's huge 'cost burden' for Bahamian institutions
While the US Foreign Account Tax Compliance Act (FATCA) represents a “huge cost burden” for Bahamas-based financial institutions, a well-known attorney said the industry can remain competitive by focusing on “quality service” and responding quickly to client needs.
Gov’t ‘more strict’ over work permits
THE Immigration Department has reduced average work permit processing times by 50 per cent, the minister responsible said yesterday, telling Tribune Business that while the Government will be stricter than its predecessor in granting approvals it had “no intention of crippling the business community”.
Business owners: ‘Don’t fear risk’
THE willingness to take risks and using attorneys as “confidants” were among the points stressed as keys to creating a successful business during Scotiabank’s Small Business Seminar, which featured a panel of successful Bahamian female entrepreneurs.
Airline to slash $280k from maintenance spend
WESTERN Air’s chief executive, Rex Rolle, said yesterday that $4.6 million had been invested in the airline’s new terminal and maintenance facility on Grand Bahama, telling Tribune Business it would cut the firm’s costs by just over $250,000 a year.
Bay Street property up for $17.9m sale
A property critical to Bay Street’s revitalisation is on the market for $17.9 million, its realtor telling Tribune Business: “We want to bring life back into the city”.
From start-up to 'A1 rated'
A Bahamian microfinance lender is aiming to progress his entrepreneur/start-up clients through the developmental stages necessary to transform them into “A1 rated companies”, creating loan products for small and medium-sized enterprises (SMEs).
BTC: 50% client growth belies bottom ranking
The Bahamas Telecommunications Company (BTC) yesterday charged that this nation’s joint last ranking on mobile Internet penetration was based on “dated” data, telling Tribune Business it had enjoyed 50 per cent subscriber growth to 30,000 mobile broadband clients over the last year.
BEC plant verdict: 'We got everything we wanted and more'
A leading opponent of the Bahamas Electricity Corporation’s (BEC) $105 million Wilson City power plant yesterday said “we got everything and more that we wanted” from Monday’s Court of Appeal ruling, suggesting it would force the Government to end the “secrecy” that surrounded major investment and public works projects.
BTC unveils its internet upgrades
THE Bahamas Telecommunications Company (BTC) will spend another $60 millionplus to upgrade its land-line service in a bid to win back residential users and create the fastest Internet service in the country. Fresh off the heels of a $40 million-plus investment that netted an 800 per cent increase in data usage following transformation of its mobile network, BTC’s chief executive said the company is spending another $60-plus million to upgrade landline service.
Compliance officers meet with Commission
THE Bahamas Association of Compliance Officers (BACO) last week paid a courtesy call on the Securities Commission of tThe Bahamas (SCB) to continue talks on regulatory reforms and the critical role its members play.
