Investment funds 'ripe for re-entry'
THE Bahamas is losing competitiveness in the investment funds sector, but the minister of financial services yesterday said that this nation can still ascend to the market forefront as it is "ripe" for reentry.
Satellite provider backs regulation
A leading Bahamas-based satellite TV provider says it will have no problem being regulated by the Utilities Regulation and Competition Authority (URCA), telling Tribune Business it welcomed fair competition but could not compete with ‘rogue’ operators undercutting on price.
Ex-Mail Boxes chief joins BTC
FORMER Mail Boxes Etc chief executive, Gershan Major, has joined the Bahamas Telecommunications Company (BTC) as its vice-president for channels and marketing.
Grand Lucayan's Board pull-out
THE Grand Lucayan resort has stunned many in the hotel/tourism industry by withdrawing from the Grand Bahama Island Tourist Board, Tribune Business can report, with the Ministry of Tourism locked in talks to resolve the situation "between now and June 13".
$6.5m Irene claims push Summit off peak
A BAHAMIAN general insurer has told Tribune Business it would probably have generated $3-$4 million in net income for 2011 had it not been for Hurricane Irene and fire-related claims, its bottom line finishing 71.8 per cent down on the previous year's results.
Atlantis up 7% pts for May's occupancies
ATLANTIS'S May 2012 occupancy levels were "seven percentage points" higher than those achieved in the comparative period last year, with the Memorial Day weekend generating "record revenue" for the Paradise Island resort,
Businessmen pay $5k fines for Contempt
A WELL-KNOWN businessman has confirmed to Tribune Business that he paid a $5,000 fine after being found in Contempt of Court, describing as "unfortunate" the situation he and a former business partner now found themselves in due to a dispute over a $1.1 million Old Fort Bay home.
Businessman warns: Big taxincreases over next 5 years
A LEADING businessman has warned Bahamians to brace for "substantial increases in taxes over the next five years", arguing that the Christie administration could not avoid this if it was to slash "mind boggling" $500 million-plus fiscal deficits.
Gov't urged: Reduce 200% tobacco taxes
A MAJOR importer believes the high 200 per cent tariff on tobacco imports is encouraging smugglers, telling Tribune Business that while proper controls were necessary the Government should look at reducing the tax rate.
Spending cuts 'not a priority'
CUTTING spending "is not a priority" for the Government based on its 2012-2013 Budget statements, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chief executive noting the absence of any measures to reduce the public sector's costs.
Recovering the way to success
EVERY Bahamian has experienced some kind of poor service as we bought goods and services in various business establishments. Some might even argue that most of the experiences in local companies are either average or substandard, with very few being magical ones. So few of us can share experiences where, locally, we would have witnessed or experienced service that was truly 'blow away'.
Chamber chief: PM's BTC intent 'very concerning'
THE Prime Minister's stated intent to reclaim majority ownership of the Bahamas Telecommunications Company (BTC) sends a "very concerning message" to the Bahamian and international business community about the "validity of contracts" they enter into with the Government, a senior private sector official has warned.
Union chief seeks mandatory health, pension benefits
The BAHAMAS Public Service Union's (BPSU) president feels the Government should move to pass legislation providing for every employee in the Bahamas to have health insurance and some form of pension benefit at the end of their careers.
Exemption can reduce Exuma construction costs by 16%
The Government’s decision to yesterday reinstate duty exemptions on imported building materials and costs for Exuma could reduce construction costs by around 16 per cent, a former Bahamian Contractors Association (BCA) president told Tribune Business.
National debt to exceed $5bn by mid-2013
The Bahamas' national debt will breach the $5 billion mark before the end of the upcoming 2012-2013 fiscal year, the Government's Budget projections disclosed yesterday, w
