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Business

 
BEC did not install 50% of proposed generation
In the lead-up to the opening of Baha Mar, less than 50 percent of the new power generation capacity which a 2012 Bahamas Electricity Board report called on to be installed "on an expedited basis" has been put in place, Guardian Business can confirm....
 
 
Grocery retailers could ‘shut down’ to prepare for VAT
Plans for local food stores to temporarily shut down operations in the days leading up to, or after, value-added tax (VAT) implementation are “not off the table”, according to the president of the Retailer Grocers Association (RGA). RGA Presiden...
 
 
Baha Mar ‘working diligently’ on power issue
A Baha Mar senior official has responded to recent concerns over the Bahamas Electricity Corporation’s (BEC) ability to adequately power the upcoming mega resort, stating that Baha Mar continue​s to “work diligently” with BEC to meet its elec...
 
 
BTC to offer TV package by spring 2015
Bahamas Electricity Corporation (BTC) expects to have a television service on offer by the end of March 2015, which will “be better and give better coverage” to customers than that offered by Cable Bahamas, Cable and Wireless Communications (CW...
 
 
Coalition: Act to address ‘sinister side’ of campaign promises
A tax coalition official has called for renewed efforts in establishing a Fiscal Responsibility Act (FRA) in an attempt to reign in government spending and the “sinister side” of unfeasible campaign promises. Coalition for Responsible Taxation (...
 
 
Port: New technology will drive competitiveness
The Arawak Port Development Limited (APD) is “leading the way” with new technology after it became the first company in the Caribbean to implement the top software for marine terminals. Navis, which is considered the Microsoft of the marine indu...
 
 
Palm Cay appoints dockmaster
Palm Cay Marina & Beach Club has announced the appointment of Demaro Demeritte as dockmaster with responsibility for its active 194-slip marina on New Providence’s southeast coast. A veteran of the water sports industry and holder of three cla...
 
 
Contractors ‘marginalized’ by government contract deals
The government has been urged by the head of the Bahamian Contractors Association (BCA) to be “more transparent” with the awarding of contracts for government-funded construction projects, with the organization arguing that the majority of contra...
 
 
Bowe: Education efforts ‘moving too slowly’
The government’s delayed efforts to educate Bahamian businesses about the upcoming value-added tax (VAT) are “moving too slowly” and are making a January 1 start date for the tax increasingly difficult, according to a leading tax coalition offi...
 
 
Motor dealer:  Sector ‘in dark’ over duty-rate decision
The operations manager of an automotive dealership is claiming that the vehicle sector was “in the dark” over the government’s decision not to reduce duty rates for vehicles sold locally, despite assurances from a government official that negot...
 
 
Chamber: S&P impressed by ‘maturity’ of VAT debate
A Wall Street credit ratings agency has welcomed the “level of maturity” seen in the debate over the introduction of value-added tax (VAT), but has questioned the level of readiness to implement the tax in January, according to the Bahamas Cham...
 
 
Spike in workers’ strike inquiries prompts govt warning
The government has moved to warn employees to exercise caution after seeing a spike in the number of employees questioning if they are legally protected if they go on strike. The Ministry of Labour issued a public notice yesterday warning employees ...
 
 
‘ICON’ makes ‘Landfall’ in Brazil before 200
ICON, the latest innovation in fund structures created by The Bahamas, was introduced to more than 200 Brazilian fund advisors at BFSB Bahamas Landfall: Destination Brazil events in Rio de Janeiro and Sao Paolo. The attendance at the event made it t...
 
 
Chinese tourism company meets with ambassador
The CEO of a Bahamian tourism company has pledged to develop a “rich system of strategic relationships” between China and The Bahamas after meeting Chinese Ambassador to The Bahamas Yuan Guisen. During a recent meeting with Guisen, Bahamaren CEO ...
 
 
Port chief points to unregulated activity ‘threats’
Government revenue from Arawak Port Development (APD) could increase significantly if the business of shipping is managed exclusively through the Nassau Container Port (NCP), the port’s top executive has argued. Chief Executive Officer at APD Mike...
 
 
Crawfish haul ‘worst in years’
Early signs are that this year’s crawfish haul is “the worst in years” and The Bahamas’ worsening poaching problem is a “time bomb” threatening to push local fishermen to violence, according to the president of a national fishermen’s al...
 
 
AML Foods: VAT spending impact ‘a big unknown’
The impact of the introduction of value-added tax (VAT) on consumer spending habits was yesterday described as a remaining “big unknown” by a major grocery retailer and restaurant operator. Suggesting that VAT will lead to a fall-off in consum...
 
 
Construction statistics show continued upswing
The construction sector continued to show signs of an upswing through the second quarter of 2014, with new construction permits issued up 13 percent and the value of the projects with which they are associated rising by 25 percent when compared with ...
 
 
Exuma Chamber and resort pushing for hospital opening
A major Exuma resort is taking matters into its own hands, seeking to “drive forward” the opening of the island’s long-awaited hospital by hosting an event intended to help solve some of the issues which may be holding up the launch of the faci...
 
 
Road Traffic Dept. addressing license plate bottleneck
A Road Traffic Department (RTD) official has stated that the department has taken steps to fix a major bottleneck that had negatively impacted Bahamian auto dealerships and is on the way to providing “a more efficient way of doing business”. Spe...
 
 
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