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Business

 
Govt hit with third injunction over Nygard applications
The government has been hit with yet another injunction after an environmental group complained that it has moved ahead with a second “flawed” public consultation over Peter Nygard’s development-related applications. The move on the part of t...
 
 
Attorney: Send records dispute to arbitration
An attorney has argued that the legal profession and the public are being disadvantaged by a continuing court battle between a company hired to digitalize court records and the government, suggesting that the case should go to arbitration to avoid fu...
 
 
Family Guardian dispute heads to Privy Council
The Court of Appeal has granted a man in a $50,000 life insurance dispute leave to appeal to the Privy Council after a second legal defeat. In an oral judgment delivered July 25, Justice Anita Allen granted John McPhee, husband and life insurance po...
 
 
Rolle: Charities ‘largely shielded’ under VAT
Government officials within the Ministry of Finance have claimed that charitable organizations will be “largely shielded” against value-added tax (VAT), amid concerns from local charities that the tax would cause them to “suffer tremendously”...
 
 
Culinary team pays visit to governor general
The national culinary team, Bahamas Hotel and Tourism Association representatives and sponsor companies paid a visit to Governor General Dame Marguerite Pindling at Government House last week. The governor general thanked the team for their participa...
 
 
Bank gives $10,000 to two local students
CIBC FirstCaribbean International Bank has awarded two new $10,000 scholarships for Bahamian nationals and continues to support two previous scholarship winners through its partnership with the Caribbean Hotel and Tourism Association Education Founda...
 
 
Baha Mar appoints top marketing executive
Baha Mar has appointed a new executive vice president for international marketing for the Baha Mar Casino and Resort. The Baha Mar Casino and Hotel, which will feature the largest casino in the Caribbean with 100,000 square feet of gaming space and ...
 
 
Court documents overhaul caught up in legal wrangling
The government is presently in a court battle with a company over an alleged breach of a contract that was designed to enable the establishment of a searchable digital database of the Supreme Court cause lists, documents and files. Further Guardian...
 
 
Banker: Give tax chief security of tenure and incentives
A top banker has called on the government to establish an independent official “who the politicians can’t touch” who would be charged with overseeing the government’s tax collection and who would be paid based on how much revenue he or she ra...
 
 
‘Substandard’ post office in service ‘death spiral’
The General Post Office has been condemned as in a “death spiral”, amid ongoing criticism of inefficient service and lingering structural concerns. Dionisio D’Aguilar, Superwash president and CEO and former president of the Bahamas Chamber of ...
 
 
FS outlines VAT education steps
The government has revealed some of the first details of its value-added tax (VAT) educational programs, which aim to provide both local businesses and consumers with “expansion and clarification” of the government’s VAT policies as the tax’s...
 
 
Wilson: ‘Multi-fuel’ approach to power most strategic
Franklyn Wilson, chairman of FOCOL Holdings, has thrown his support behind the government selecting a company which will implement a “multi-fuel” approach to electricity generation as part of its efforts to reform the Bahamas Electricity Corporat...
 
 
RBC branch closure to lead to job losses
A planned relocation and consolidation of the Paradise Island branch of the Royal Bank of Canada (Bahamas) will lead to staff redundancies, the bank has stated. The branch will be consolidated with RBC’s main branch on Bay Street as part of RBC’...
 
 
GBPC seeking to improve reliability
The Grand Bahama Power Company (GBPC), as part of its transmission and distribution (T&D) infrastructure investments, has launched a preventative maintenance program in communities across the island. The program focuses on specific areas with a ...
 
 
Minister: ‘ICON’ to make Bahamas ‘dominant’
Minister of Financial Services Ryan Pinder has argued that the proposed Investment Condominium (ICON) Bill will cause The Bahamas to become “dominant” in the funds sector, while attracting substantial investment from Latin America. Presenting th...
 
 
Hotel occupancy up ‘tremendously’ in Grand Bahama
Grand Bahama has seen growth in hotel occupancy levels over the past six months, the Ministry of Tourism has confirmed. According to the latest data released by the Department of Statistics, between January and July 2013, 136,262 rooms were occupied...
 
 
Chinese firm out to buy British Colonial Hilton
The board and ownership of the British Colonial Hilton are in advanced stages of negotiations with a Chinese state-owned firm over a potential purchase of the hotel in downtown Nassau, Guardian Business can confirm. Sources familiar with the sale pr...
 
 
Costs of BEC reform delay ‘too significant’ to continue
A leading businessman has argued that the consequences of any further delay in a decision on reforming the Bahamas Electricity Corporation are “too significant” to justify prolonging action, arguing that “anyone would agree” that any alternat...
 
 
Bahamian brothers to open four Baha Mar restaurants
A Bahamian-owned company has been selected to open four restaurants within the Baha Mar Casino and Hotel. The move is set to lead to the hiring of as many as 400 people and the raising of tens of millions of dollars locally, Guardian Business unde...
 
 
Retailers: Govt ‘setting itself up for failure’ over VAT
Retailers across the country accused the government yesterday of "setting itself up for failure" and leaving The Bahamas in a "precarious and dangerous" position by implementing value-added tax (VAT) without also moving ahead with greater duty reduct...
 
 
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