DPM: 'Don't bully' Tax Department
THE Deputy Prime Minister has pledged to review the property tax valuation system’s accuracy, while warning Bahamians and residents: “Don’t bully the taxman.”K P Turnquest told Tribune Business that aggrieved taxpayers needed to use the appeals proce
'Amazed' at auto imports 29% higher than budget
THE Nassau Container Port’s (NCP) operator is “amazed” at auto import volumes that are 29 per cent above forecast, as it unveiled half-year profits slightly ahead of expectations.Michael Maura, Arawak Port Development Company’s (APD) chief executive,
Fidelity targeting 10% profits rise
FIDELITY Bank (Bahamas) is targeting 10 per cent profits growth for 2018, following a year in which the “cost of business” exceeded staff payroll and benefits.Gowon Bowe, the BISX-listed institution’s chief financial officer, told Tribune Business th
$25m PPP given 'Cabinet approval'
THE public-private partnership (PPP) project subject to a $25 million capital raising has received “Cabinet approval”, the Attorney General has confirmed.Carl Bethel QC told Tribune Business that the new Eight Mile Rock administrative complex had bee
Blockchain solution for land registry woe
BLOCKCHAIN technology could provide the solution for an efficient, digitised Bahamian land registry, an attorney and technology entrepreneur suggesting it could also transform the Crown Land application process.Marvin Coleby, co-founder of the blockc
Developer seeks $25m for ‘election’ PPP deal
A government complex now subject to a $25 million capital raising was approved just 24 hours before last year’s general election, its developer yesterday branding the timing “unfortunate”.
Gov't eyes 'short-term' work permit reforms
THE Government is proposing to exempt “certain categories of people” from needing short-term work permits when entering the Bahamas in a bid to eliminate border mishaps.Brent Symonette, minister of financial services, trade and industry, and Immigrat
Island Luck sees 90% money transfer drop
ISLAND Luck yesterday said it has seen a 90 per cent reduction in money transmission activity across its system, as it bids to position itself in the “vanguard” on ‘Know your Customer’ (KYC) requirements.Neil Major, Island Luck’s chief compliance off
Gov't to pay $34min 10-year PPP lease
THE Government will pay a gross $34.089 million over 10 years to rent the Eight Mile Rock administrative complex being constructed through a Public-Private Partnership (PPP) agreement.Details of the deal struck by the Christie administration with PPP
Minister to renegotiate cruise ship incentives
The Minister of Tourism has served notice of his intention to change tax ‘rebates’ for all cruise lines to a system based on passengers that “come off the boat and spend money”.Dionisio D’Aguilar said he has scheduled meetings with all the major crui
DPM urges Bahamians: Exploit raw conch shell
The Deputy Prime Minister yesterday called on Bahamians to capitalise on the true value of conch shell raw material and generate more revenue for the country.K P Turnquest, speaking at a signing ceremony for a grant from the Inter-American Developmen
Accountability culture key to business wins
WORKPLACE accountability is vital to success. Accountability is where a person is expected to take ownership of their actions or decisions. It is particularly important for corporate leaders to have a high degree of accountability as they manage huma
Hope Town 'won't settle' for property tax 'floor'
Hope Town is warning the Government it “will not settle” for the ‘floor’ on its real property tax collection deal, which could prove a “model” for the entire Bahamas if better structured.Jeremy Sweeting, the district’s chief councillor, told Tribune
'Seeing is believing: Lucayan hotel buyer urged to reassure
THE Grand Lucayan’s prospective buyer must next week confirm the deal will close imminently to rescue Freeport “from the intensive care unit”, a prominent attorney warned yesterday.Carey Leonard told Tribune Business that the Wynn Group’s chief execu
DPM: $4bn refinery to help eastern GB reach 'full potential'
THE Deputy Prime Minister yesterday said the $4 billion oil refinery that the Government plans to approve on Monday will help his constituency “reach its full potential”.K P Turnquest, the east Grand Bahama MP, urged his constituents to equip themsel
