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Bahamasair eyes 'break even' despite $21m loss

Bahamasair eyes 'break even' despite $21m loss By NEIL HARTNELL Tribune Business Editor Despite being on target for a $21 million loss in its 2011-2012 financial year, Bahamasair's chairman says the airline is trending in the right direction and eventua

DPM: Bahamas must ‘prove’ itself to S&P

* ‘Not at all’ upset nation still ‘junk’ * Blames former Govt’s failure to deliver * Nation has 12-24 months to execute

The Government must “prove” it can deliver on its fiscal and economic turnaround strategy, the Deputy Prime Minister admitted yesterday, after Standard & Poor’s (S&P) kept the Bahamas at ‘junk’ status. K P Turnquest told Tribune Business he was “not at all” disappointed at the outcome of S&P’s annual review of the Bahamas’ sovereign creditworthiness, despite having previously expressed optimism that the Government could make the case to be upgraded to ‘investment grade’ status.

RoyalFidelity's fund with 'different angle'

RoyalFidelity is planning to launch an “alternative” US$ fund this summer that aims to minimise market volatility risk, a move coinciding with the maturing of another product forecast to generate 50 per cent investor returns.

Atlantis 'savours' $1.9bn refinance

Atlantis was yesterday said to be “savouring” its completed $1.9 billion debt refinancing, its owner having invested some $500 million in the property since taking control two years ago.

FIRSTCARIB MARKET CAP SHRINKS 44% DURING RECESSION

By NEIL HARTNELL Tribune Business Editor CIBC FirstCaribbean International Bank (Bahamas) has seen its market capitalisation plummet by 44.4 per cent since the recession started, its 2011 annual report disclosing that return on equity (RoE) had also drop

FIRSTCARIB MARKET CAP SHRINKS 44% DURING RECESSION

By NEIL HARTNELL Tribune Business Editor CIBC FirstCaribbean International Bank (Bahamas) has seen its market capitalisation plummet by 44.4 per cent since the recession started, its 2011 annual report disclosing that return on equity (RoE) had also drop

FIRSTCARIB MARKET CAP SHRINKS 44% DURING RECESSION

By NEIL HARTNELL Tribune Business Editor CIBC FirstCaribbean International Bank (Bahamas) has seen its market capitalisation plummet by 44.4 per cent since the recession started, its 2011 annual report disclosing that return on equity (RoE) had also drop

Pinder moves one year after ‘amazing’ deal

One year after receiving a “mind blowing” offer he was unable to turn down, former financial services minister Ryan Pinder yesterday confirmed his career is on the move again - this time to the Graham, Thompson & Co law firm as partner.

BTC TARGETS 30-40 STORES BY END-2012

By NEIL HARTNELL Tribune Business Editor The Bahamas Telecommunications Company (BTC) is aiming to expand its retail network to between 30-40 stores at 2012 year-end, an executive yesterday telling Tribune Business it hoped to have a national 4G network

OUTRAGE OVER UK'S 8% 'AIRLIFT TAX' RISE FOR THE CARIBBEAN

Caribbean hoteliers yesterday expressed outrage over the UK's decision not to change its Air Passenger Duty (APD) banding structure, with the 8 per cent increase set to be imposed from April 2012 increasing airlift (access) costs to the Bahamas for Europe