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'Substandard value' on govt lease deal
Lease payments between 57 percent to 200 percent above market rate have raised questions of “preferential treatment” and “substandard value for money” at the ministry of finance.A report commissioned by the Auditor General’s Office, and tabled in Par
Port’s Freeport revival ‘all take and no give’
The Grand Bahama Port Authority-commissioned report on Freeport’s revival is “all take and no give” and is “highly unlikely” to be supported by the government, an attorney blasted yesterday.
BTC chief: I won't succumb to dissent
The Bahamas Telecommunications Company’s (BTC) top executive has pledged he will “not give up” in the face of union resistance as he is “convinced” the carrier is now “on the right path”.Garfield “Garry” Sinclair, BTC’s chief executive, told Tribune
Bahamian group seeks landfill LOI
A Bahamian consortium yesterday said it was eagerly hoping to obtain a Letter of Intent (LOI) from the Government so it can proceed with plans to take over the New Providence landfill’s management, where conditions are said to be “getting more dangerous by the day”.
Christmas Party Guide
THE HOLIDAY season has arrived, with just under four weeks before Christmas rolls around. Bahamians are feeling in the spirit at this time to eat, drink and be merry at home, in the office and out on the town.
Confessed fraudster's $8m appeal had 'little merit'
A Bahamas-based financier’s legal action has been blasted for having “little merit”, the Court of Appeal finding it was a ‘last ditch’ bid to seize more than $8 million generated by his fraudulent activities.
No BTC deal 'quid pro quo' on outsourcing
The head of the Government’s negotiating team yesterday “categorically” denied that they agreed “a quid pro quo” that would see hundreds of Bahamas Telecommunications Company (BTC) jobs outsourced in return for regaining majority control.
VAT ‘sucks out’ 33% of new auto sales
New car sales for the 2015 first quarter fell 33 per cent year-over-year, with the Bahamas Motor Dealers Association’s (BMDA) president blaming Value-Added Tax (VAT) for “sucking a lot of potential out of the market.”
Gov't wants IPO to Bahamians by 2nd mobile firm
Prime Minister Perry Christie has indicated his government wants the winning bidder for the second celluar licence to offer shares to the Bahamian public, something that might force it to follow suit with the Bahamas Telecommunications Company (BTC).
Investors ‘get wise’: RF funds up $60m
A Bahamian investment bank yesterday said total assets under management in its local currency mutual funds have increased by $60m year-to-date as investors “get wise” to the negative returns on bank deposits.
Tourism’s ‘perfect storm’ missing out on 15-20%
The hotel industry’s top executive yesterday said that despite “the perfect storm” driving the sector’s recovery he remains concerned about the 15-20 percent of visitor source markets that have yet to re-open.
Financier’s ‘economic survival’ now at stake
A Bahamas-based financier’s “economic survival” is at stake, Tribune Business can reveal, after the Court of Appeal dismissed his applications for leave to appeal an $8 million default judgment against him.
BTC in 'substantial' $1m VAT systems bill
Thousands of Bahamas Telecommunications Company (BTC) pre-paid cellular customers will see their calling costs increase 15 per cent under Value-Added Tax (VAT), with the carrier itself set to incur a “substantial” $1 million bill just to make its systems compliant.
Atlantis cautious but group pace 25% faster
Atlantis’s top executive is remaining cautious despite a group booking pace for 2015 and 2016 that is 25 per cent faster than this year’s, adding of 2014 to-date: “We’re exactly where we thought we’d be.”
CLUBS AND SOCIETIES 12 June 2015
Bahamas Actors & Filmmakers Group. - A meeting was held on Monday of the Bahamas Actors & Filmmakers Group, bringing together members of the Bahamian acting and filmmaking community.
Contract absence exposes resort workers to VAT
Hotel workers are exposed to a Value-Added Tax (VAT) -induced cost of living increase without any prospect of a base salary rise until 2016 at the earliest, a former union presidential contender charged yesterday.
Freeport’s web shops ‘can’t serve 2 masters’
A web shop chain was yesterday given leave to issue Judicial Review proceedings against the Grand Bahama Port Authority (GBPA), its attorney arguing: “We cannot serve two masters.”
DR HUBERT MINNIS: Let’s make Nassau a great Caribbean city
WE the Bahamian people have an historic opportunity and obligation to fix and revitalise the City of Nassau. Its history traces back to the late 17th century.
Balmoral Club’s hotel given history preserver’s go-ahead
Regulators responsible for preserving The Bahamas’ historic buildings have given the go-ahead for the Balmoral Club’s 50-unit condo hotel expansion at the site of the existing clubhouse.
DIANE PHILLIPS: Virginia got her wish, Santa, can I have mine?
Yes, Virginia, there really is a Santa Claus.