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Deloitte to collect $100m in ‘bad’ BOB commercial loans
The Government yesterday confirmed Tribune Business’s disclosure earlier this week that Deloitte & Touche has been selected as the accounting firm charged with collecting on $100 worth of ‘bad’ commercial loans formerly belonging to Bank of the Bahamas.
Airline's 18% fee cost rise in three years
Airline's 18% fee cost rise in three years By NEIL HARTNELL Tribune Business Editor A leading Bahamian-owned airline yesterday said its fee costs had increased by a cumulative 18 per cent over the past three years, saying the charges levied by various a
Hotel industry 'holds its own'
The Bahamas' hotel industry generated a 6.2 per cent increase in room occupancy for the year to end-October 2011, something the Bahamas Hotel Association's (BHA) president said showed the sector was "holding its own". Stuart Bowe, senior vice-president at
Ansbacher in $2myacht lien battle
Ansbacher (Bahamas) is seeking to recover more than $2 million owed by a delinquent borrower by foreclosing on, and selling, his multi-million dollar yacht.
Bahamas faces major tax, exchange control shake-up
The Bahamas may have to completely overhaul its corporate and taxation structure to escape European Union/OECD ‘blacklisting’ threats, the Attorney General revealed yesterday.
‘Get out of dark ages’, Gov’t and unions told
* Reformer urges end to worker benefits focus * Calls for more productivity ‘to lift GDP growth’ * And wants wages ‘held’ at current levels
The Department of Labour must “get out of the dark ages” and focus on improved worker productivity if the Bahamas is to enjoy higher GDP growth, a governance reformer urged yesterday. Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tribune Business that the Labour Department and trade unions needed to stop pushing for increased worker benefits “if we are to lift ourselves out of this socio-economic recession”. Arguing that both were still “singing the same old song”, Mr Myers called for wages and benefits to be “held” at present levels until the Bahamian economy generated improved GDP growth rates.
Governor: Data, privacy regimes may need reform
The Bahamas may have to reform its data and confidentiality regimes to mitigate the threat posed by the loss of correspondent banking relationships to the financial sector and wider economy, the Central Bank’s governor has warned.
KFC forces unions to put 'house in order'
KFC forces unions to put 'house in order' By NEIL HARTNELL Tribune Business Editor The Kentucky Fried Chicken (KFC) franchise's decision to cancel voluntary recognition of the Bahamas Hotel, Catering and Allied Workers Union (BHCAWU) will have "far reac
STOP 'DABBLING' IN RENEWABLE ENERGY
By NEIL HARTNELL Tribune Business Editor Rising oil prices could dampen the pace of Bahamian economic recovery, the Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) warned yesterday, emphasising the need for this nation to have "a true,
Colina Holdings profits 'moderated' at $5.6ms
Colina Holdings profits 'moderated' at $5.6ms BISX-listed Colina Holdings (Bahamas) last night said it achieved "moderated" net income of $5.6 million for its 2011 financial year, as its performance was impacted by the slow economy and cut in the Bahamia
BTC unveiling changes to directory assistance
BTC unveiling changes to directory assistance The Bahamas Telecommunications Company (BTC) yesterday unveiled plans to transform its 916 directory assistance calls service from July 1, 2012, with charges after the first three free calls said to be below
BTC unveiling changes to directory assistance
BTC unveiling changes to directory assistance The Bahamas Telecommunications Company (BTC) yesterday unveiled plans to transform its 916 directory assistance calls service from July 1, 2012, with charges after the first three free calls said to be below
IDB: Bahamas needs $560m 'adjustment'
The Bahamas needs a $560 million "adjustment" at present growth rates just to cut its debt-to-GDP ratio to 60 per cent by 2021, amid warnings this nation now lies on the fiscal "dark side".
GB Power seeks ‘unique’ energy storage solution
Grand Bahama Power Company is planning to launch a tender for energy storage technology that is “maybe unique to the world”, in a move that could reduce operating time for at least two generation units.
Baha Mar remains Gov’ts economic ‘Achilles heel’
THE Bahamas Chamber of Commerce’s (BCCEC) chief executive yesterday said he was “sceptical on the timelines” for a Baha Mar resolution, describing the $3.5 billion project as the Government’s economic “Achilles heel”.
Physician fears NHI care ‘dumbing down’
A well-known physician yesterday expressed concern that National Health Insurance (NHI) could create “a dumbing down” in healthcare quality in the Bahamas, and likened the gap between the Government and private sector to “a chasm”.
Freeport suggestions to Gov’t ‘in 2 weeks’
The Government will likely receive recommendations on Freeport’s short and long-term future within the next two weeks, the Opposition’s deputy leader yesterday calling for “quid pro quos” in return for extending the city’s tax breaks.
US gives Cable growth ‘4 times’ that in Bahamas
Cable Bahamas yesterday said its US expansion had generated growth that would take three-four years to achieve in this market, having enjoyed an “immediate” 26 per cent top-line boost.
Realtors targeting $40m sales to wake ‘sleeping giant’
Bahamian realtors yesterday said they were targeting “$40-odd million” in total sales as they bid to awaken the ‘sleeping giant’ that is the Lyford Hills project, which is being developed by ex-Cabinet minister Tennyson Wells.
All Govt’s ‘committed sins’ managing nation
A Cabinet Minister yesterday admitted that successive governments had “committed some sins” in failing to properly manage the Bahamas, as he warned: “The world is leaving us behind.”
