IAN FERGUSON: Forgoing growth can be major profit boost
Growth is a long-term objective for most businesses. However, some firms never grow and remain as small businesses forever. Here are a few factors that explain why some businesses do not have growth as the main objective.
Lyford Cay condo developer to move on ‘final approval’
The developer behind a controversial Lyford Cay condominium project yesterday said it will move forward to obtain “final approval” despite planning authorities requiring that the number of units be slashed by 30 percent.
Developer’s Abaco project in ‘high eight-figure’ sales
A Nassau-headquartered developer yesterday confirmed it is investing hundreds of millions in Abaco and the surrounding cays via two projects that are progressing “quite well”.
DPM hails Hurricane Hole developer for ‘uplifting’ PI
The deputy prime minister yesterday hailed Sterling Global’s multi-million dollar Hurricane Hole redevelopment for “uplifting Paradise Island” and the wider Bahamian tourism product.
Port row owners in residency woe
The US family battling the Grand Bahama Port Authority (GBPA) has cause for further Bahamian frustration - the Government’s failure to process three separate permanent residency applications despite their $41m investment in this nation.
Lyford Cay condo has to slash units by 30%
Planning authorities have given the go-ahead for a controversial Lyford Cay condo project provided its height is reduced by one-third - and the number of units slashed by 30 percent - to address “overdevelopment” concerns.
Cigarette supplier loses multi-million tax battle
A Freeport-based cigarette manufacturer’s claim that it was “unlawfully compelled” to pay millions of dollars in Excise Tax to Bahamas Customs was yesterday dismissed in its entirety by a Supreme Court judge.
‘Misguided’ focus over corporate income tax
The Government’s approach to corporate income tax has been branded “misguided” by a prominent banker because the focus is largely on ensuring compliance with international demands.
‘Shoulder’ hotel occupancies 5-10% pts higher than norm
Bahamian hotels are eyeing occupancies between five to ten percentage points higher than the norm for the industry’s slowest months, it was revealed yesterday, as it “nudges closer every day” to pre-COVID levels.
Top revenue collector eyes 2/3 expansion to 500 staff
The Government’s main revenue agency is targeting a further two-thirds expansion of its workforce to around 500 staff, a top official revealed yesterday, adding: “We have no staff in the Family Islands.”
Union leader: Minimum wage to jump to $260
A trade union leader last night forecast the Government will likely approve a 24 percent hike in the private sector minimum wage to $260 per week after a presentation was made to the Davis Cabinet on the issue yesterday.
Treasure Cay owners ‘hate’ buyer’s new bid
Treasure Cay property owners yesterday said they “hated” the latest development proposal submitted by the project’s potential purchaser, which includes plans for a 350-room hotel and 216-slip marina.
‘Can’t have cake and eat it’ on taxation rise
A well-known banker yesterday said the Government has to “increase the tax rate” to hit its revenue and overall fiscal consolidation goals, adding: “You can’t have your cake and eat it too.”
‘COME CLEAN’ ON $90M PUBLIC SERVICE FEE HIKE: FNM asserts Gov’t trying to ‘sneak’ increase through
The Opposition yesterday urged the Davis administration to “come clean” over plans to raise an extra $90m from increasing user fees paid by the Bahamian people to access multiple public services.
Grand Bahama airport bids range from $50m to $150m
Three shortlisted bidders are offering to invest between $50m to $150m in redeveloping Grand Bahama International Airport (GBIA), the deputy prime minister said yesterday, with the latter’s new Board charged with selecting the winner.
