The Bahama Journal – Jones Communications Network

Businessman Franklyn Wilson has been elected chairman of Focol Holdings Limited (FOCOL) and reappointed director – a post he has held for 31 years. Mr. Wilson succeeds Sir Albert Miller, who has served as chairman since 1988. During FOCOL’s annual general meeting, which was held in Grand Bahama on Wednesday, March 26, Mr. Wilson thanked […]

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The government is confident that adopting Value Added Tax (VAT) will lead to a significant reduction in cases of tax fraud, according to a legal expert in the Ministry of Finance. “VAT will reduce fraud because it creates more transparency at every stage from production, to importation, to point of sale,” attorney Renee Fisher told […]

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Baha Mar VP of External Affairs Robert Sands said if Value Added Tax (VAT) is introduced at any percentage higher than five, its effects could be detrimental to the tourism industry. According to Mr. Sands, the future of the country’s tourism industry may be put in jeopardy if the government decides to implement a tax […]

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RBC Finco’s Managing Director Tanya McCartney will step down from her position in May, the company has announced. Ms. McCartney has worked with the Royal Bank of Canada (RBC) for eight years. She has served as RBC Finco’s Managing Director and Vice President for the past six years. The announcement came at the bank’s Annual […]

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Construction teams are expected to commence a $250 million expansion to Freeport’s Container Port this summer, Prime Minister Perry Christie announced Monday. Mr. Christie said his government is now working on a Memorandum of Understanding that he hopes to present to Cabinet sometime soon. “As we move resolutely on the revival of Grand Bahama’s economy, […]

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Retired Baptist Bishop Simeon Hall said Saturday that while he commends National Security Minister Dr. BJ Nottage’s recent announcement to roll out new crime fighting initiatives, he believes this plan is “too soft” and does not go far enough. In a press release sent out this weekend, Bishop Hall said he is disappointed that this […]

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Okyanos Heart Institute, whose mission it is to bring a new standard of care and a better quality of life to patients with coronary artery disease (CAD) using adult stem cell therapy has raised $8.9 million in its Series B offering. Passion Group founder Ali Shawkat led the round and is a visionary entrepreneur-investor with […]

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Officials at the Freeport Harbour Company (FHC) on Tuesday sought to set the record straight about port safety concerns raised by a number of its employees. In a press statement issued yesterday, FHC CEO Godfrey Smith said the port’s safety record is supported on many levels despite the “ill-informed remarks purely on the basis of […]

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Construction at Palm Cay has created nearly 100 jobs as a result of the project’s executives seeing the need for an expansion in the beachfront and marina property. The jobs created are either directly for the development or for contractors and subcontractors on the job. Having already quadrupled its full time local team in sales, […]

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The Bahamas and the Federative Republic of Brazil are seeking to forge closer ties in the areas of trade and investments. Governor General Sir Arthur Foulkes said as much during the Occasion of the Presentation of Letters of Credence by His Excellency Carlos Eduardo Sette Camara Da Fonseca Costa, Ambassador of the Federative Republic of […]

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