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Port 'dismayed' by Shenanigan's

The Grand Bahama Port Authority (GBPA) has described itself as "dismayed" by criticisms from a Bahamian businessman who closed his Port Lucaya Marketplace restaurant blaming high rents, arguing that he had been "unresponsive" to attempts to resolve the si

BAHAMAS AT 'TOP OF PACK' ON WEALTH MANAGEMENT

By NEIL HARTNELL Tribune Business Editor Revised legislation will leave the Bahamas "at the top of the pack" among Caribbean financial centres when it comes to private wealth management, the Attorney General told Tribune Business yesterday. Lauding amend

Bimini Bay facing homeowners revolt

The Bimini Bay Resort is facing a homeowners revolt in the Supreme Court, with multiple purchasers voicing concerns over how their properties and multi-million dollar maintenance fee sums are being managed.

Bahamas ranked in bottom three of finance centres

By NEIL HARTNELL Tribune Business Editor A former Bahamas Financial Services Board (BFSB) chairman yesterday said a report that ranked the Bahamas a lowly 75th out of 77 global financial centres would "not impact" this jurisdiction's core private wealth

Contractor loses ‘millions’ in 4-year BEC theft fight

A former Bahamian Contractors Association (BCA) president yesterday said his business had lost “millions of dollars” during his four-year fight against electricity theft charges, and he was now trying “to put the pieces together again”.

Insurer sees 38% fall from Summit

Summit Insurance blamed reduced real estate valuations for a 38.2 per cent year-over-year profits slump, as it focuses on “defending our book” in a year that will have “negative growth”.

Miller confident on Robin Hood replacement

By NEIL HARTNELL Tribune Business Editor Robin Hood's landlord yesterday told Tribune Business he is extremely confident about finding a replacement tenant for the closing retailer, describing the Summerwinds Plaza location as "second to none" and "the b

'Missing link' to grow BORCO revenue $20m

'Missing link' to grow BORCO revenue $20m By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) revenues could increase by up to $20 million per annum due to its owner creating "a critical link" between its Bahamian and US

'Missing link' to grow BORCO revenue $20m

'Missing link' to grow BORCO revenue $20m By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) revenues could increase by up to $20 million per annum due to its owner creating "a critical link" between its Bahamian and US

'Missing link' to grow BORCO revenue $20m

'Missing link' to grow BORCO revenue $20m By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) revenues could increase by up to $20 million per annum due to its owner creating "a critical link" between its Bahamian and US

Bahamas ‘shooting ourselves in foot’ on insurance regulation

* Bahamas ‘going beyond’ AML standard * AG: ‘We’ll give general insurers one year’ * Fears captive revival undermined

FEARS were raised again yesterday that the Bahamas could be “shooting ourselves in the foot” by including general and captive insurers within its anti-money laundering regime. Emmanuel Komolafe, the Bahamas Insurance Association’s (BIA) chairman, urged the Government to provide the “benchmarking” studies and data to support its decision to define both market segments as financial institutions under the Financial Transactions Reporting Act (FTRA).

TAX RETURNS PAY FOR $44M DREDGE IN JUST '1.5 YEARS'

By NEIL HARTNELL Tribune Business Editor The $44 million Nassau Harbour dredging costs will be paid back in full within one-and-a-half years in taxes alone, the minister of tourism yesterday telling Tribune Business that any impact on the Bahamas' cruise

S&P: Gov’ts fiscal, economic reforms ‘will take time’ to work

* 1.5% average growth forecast lower than IMF’s * Grand Lucayan closure takes out 7% of rooms * Debt to rise through 2020 to 52% of GDP

THE Government’s fiscal and economic reforms will take time to “pay dividends”, Standard & Poor’s (S&P) warned yesterday, as it took a more ‘bearish’ view of the Bahamas’ growth prospects. The rating agency, in its latest Bahamas country assessment, expressed confidence that the Minnis administration’s fiscal reforms will “arrest the deterioration” in the Government’s deficit and the national debt.