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Business

 
U.S. conch ban decision looming
The National Oceanic and Atmospheric Administration (NOAA) of the United States is expected to deliver a ruling on November 3 on a petition by the environmental non-governmental organization (NGO) WildEarth Guardians for queen conch to be declared a ...
 
 
Downtown boardwalk planning underway
Co-chair of the Downtown Nassau Partnership (DNP) Charles Klonaris – the public/private partnership jointly shepherding the redevelopment of the city of Nassau – confirmed that the planning for a boardwalk stretching from downtown Nassau east t...
 
 
Bahamas supports Somalia on maritime borders
The Bahamas has thrown its support behind Somali President Hassan Sheikh Mohamoud, whose proclamation of his nation’s maritime borders in June stirred up tensions between Somalia and some of its neighbors, including Yemen and Kenya. Foreign Affair...
 
 
Consumer protection guidelines for VAT
Cheryl Bazard, chairman of the Consumer Protection Commission (CPC), said yesterday that the CPC was juggling “a number of initiatives” since forming last November, including education and protection initiatives regarding the impact of value-adde...
 
 
BISX index up for first nine months of 2014
The Bahamas International Securities Exchange (BISX) All-Share Index recorded a 7.4 percent increase for the nine-month period ending September 30, 2014, closing at 1,577.47. BISX yesterday issued its January to September 2014 Statistical Report, wh...
 
 
Osborne cautious on mandatory pensions
Morneau Shepell (Bahamas) boss Derek Osborne tells Guardian Business that he has mixed feelings about mandating private sector pension. Still, Osborne – who worked for a time as an actuary at the National Insurance Board (NIB) – said he strongly...
 
 
Cross & Mosko assists in the sale of British Colonial Hilton hotel
The sale of the British Colonial Hilton Hotel property in Downtown Nassau was confirmed at an official signing ceremony in the hotel on October 27. The property is being purchased by China Construction America Inc. (CCA) from its present owners base...
 
 
Pompey Museum to reopen downtown
Kim Outten-Stubbs, chief curator for the Antiquities, Monuments and Museums Corporation (AMMC), told Guardian Business that the reopening of the historic Pompey Museum in Downtown Nassau represents a significant step in the rejuvenation of Downtown N...
 
 
VAT penalties severe
The government has indicated that it will not shift from January 1, 2015 as the date to institute the value-added tax (VAT) regime, and, with the November 31, 2014 deadline for registration looming, the possibility of hundreds of thousands of dolla...
 
 
Real property tax collection rate still uncertain
Months after launching a nationwide collection initiative, neither government officials nor private debt collectors have provided an update on the government’s efforts to collect outstanding real property taxes (RPT). Anthony Kikivarakis, chairman...
 
 
Low pension participation must improve
With fewer than 30 percent of Bahamian workers participating in so-called employer-linked pension plans, according to The Central Bank of The Bahamas, pension fund advisor Derek Osborne said it is clear that worker participation in pension plans must...
 
 
Bethel says balance foreign investment with local involvement
Bahamas Society of Engineers (BSE) Director DaCosta Bethel said yesterday that fears over expanding Chinese investment in Downtown Nassau are “not irrational at all” as the country seeks further public-private partnerships (PPPs). Speaking at a ...
 
 
Govt has new maritime policy
Transport Minister Glenys Hanna-Martin has fleshed out the government’s intentions for a new maritime policy, which she said is a product of stakeholder consultation led by consultants from the Commonwealth secretariat. “That consultation has le...
 
 
New business development in Bimini
Resorts World Bimini’s ongoing development is having a positive spin-off effect – the opening of several new business ventures on the twin islands. Among them are the 1 2 3 Floor Sports Bar – a joint venture between a Biminite and an investor ...
 
 
BCCEC: Follow the law, forget side deals
Value-Added Tax (VAT) Education Task Force member and Fidelity Bank President Gregory Bethel yesterday urged businesses to avoid “side deals” after reports that some businesses may plan on paying lump sums in order to avoid costly VAT preparati...
 
 
Minister promotes symbiosis between public, private sector shipping
The Bahamas has launched its bid for re-election to the board of the International Maritime Organization (IMO) and just recently opened an office in Piraeus, Greece. These developments are proof of the vitality of the Bahamian ship registry, accordin...
 
 
Investment Condominium goes live on Nov. 3
The Investment Condominium (ICON) will effectively go live November 3, according to the CEO of the Bahamas Financial Services Board (BFSB). In an interview with Guardian Business, BFSB CEO Aliya Allen confirmed the rollout date for the country’s n...
 
 
Architect: Time to implement EDAW plan
The government has retained a local architect to establish guidelines and a framework for the redevelopment of Downtown Nassau, but that architect has chosen not to disclose a timeline for establishing the guidelines. Michael Foster – who consul...
 
 
Bahamas gender gap closing, but not in politics
The Bahamas ranks fifth for equality between men and women for economic participation and opportunity among 142 surveyed countries, according to a recently released report from the World Economic Forum (WEF). The WEF published its most recent Global...
 
 
LPIA ranks high in ASQ survey
For the third consecutive quarter, an Airport Service Quality (ASQ) survey ranked Lynden Pindling International Airport in the top three airports serving 2 million to 5 million passengers each year. Clean terminals and overall improved ambience at th...
 
 
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