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Brewery unveils'strong Q1' with44% profits rise
Commonwealth Brewery is today unveiling a "strong first quarter" for 2012 with net income up 44.2 per cent year-over-year, its management team telling Tribune Bus
$150M TRUST URGED TO RESCUE HOUSING MARKET
By NEIL HARTNELL Tribune Business Editor The Government was yesterday urged to invest $100-$150 million into a Foreclosure Trust as a way to solve this nation's mortgage/housing crisis, a well-known businessman telling Tribune Business that the returns g
1,200 room loss left Bahamas as 'most exposed' in Caribbean
1,200 room loss left Bahamas as 'most exposed' in Caribbean By NEIL HARTNELL Tribune Business Editor The Royal Oasis and Nassau Beach Hotel closures left the Bahamas as the "most exposed destination by far" in the Caribbean when the recession hit, the
Next two years 'great time' for capital raising
Next two years 'great time' for capital raising By NEIL HARTNELL Tribune Business Editor The next two years will be "a great time" for Bahamas-based companies to seek equity or debt capital, a leading investment banker yesterday urging the $35 million s
Next two years 'great time' for capital raising
Next two years 'great time' for capital raising By NEIL HARTNELL Tribune Business Editor The next two years will be "a great time" for Bahamas-based companies to seek equity or debt capital, a leading investment banker yesterday urging the $35 million s
Next two years 'great time' for capital raising
Next two years 'great time' for capital raising By NEIL HARTNELL Tribune Business Editor The next two years will be "a great time" for Bahamas-based companies to seek equity or debt capital, a leading investment banker yesterday urging the $35 million s
2,000 homeowners 'non-performing'
2,000 homeowners 'non-performing' By NEIL HARTNELL Tribune Business Editor An estimated 1,500-2,000 Bahamian homes have mortgage loans that are more than 90 days past due, the Clearing Banks Association (CBA) told Tribune Business yesterday, with the se
‘Wild Wild West’ web shop oversight hits Gaming Board
* AG: ‘Difficulty’ undermines ‘blue ribbon’ status * Gov’t ‘seconding’ anti-money launder specialists * Will ‘address forthwith’ web shop money transfers
THE Gaming Board’s “blue ribbon” reputation has been hurt by taking on regulation of the “Wild Wild West” web shop sector, the Attorney General said yesterday. Carl Bethel QC told Tribune Business that the Government was now seconding more experienced anti-money laundering regulators from other agencies to the Gaming Board in a bid to get to grips with a sector deemed “high risk”.
AML chief: ‘Size of pie yet to be seen’
* Uncertainties over Xmas spending * Hopes December ‘uptick’ will persist * All retailers see October/November fall-off
BISX-listed AML Foods has warned that “the size of the pie” remains unknown when it comes to Bahamian consumer spending this Christmas. Gavin Watchorn, the group’s president and chief executive, told Tribune Business that while it was “very confident” of gaining its due share, the extent of holiday expenditure was difficult to predict given continued economic uncertainty and fragile confidence.
HOPE 8.7% FISCAL DEFICIT DECLINE A 'SUSTAINABLE TREND'
By NEIL HARTNELL Tribune Business Editor A former finance minister yesterday expressed hope that the 8.7 per cent decline in the fiscal deficit for the 2011-2012 Budget year's first quarter represented the start of a "sustainable trend", even though the
SMALL BUSINESS BILL DISCUSSION TARGET BEFORE 2012 ELECTION
By NEIL HARTNELL Tribune Business Editor A government minister says he is "reasonably certain" that broad consultation with stakeholders on the much-awaited Small and Medium-Sized Business (SME) Development Bill can be held prior to the general election,
QC: Don’t reward $35m Nygard ‘law breaking’
The Government was yesterday urged not to reward two decades of alleged law-breaking by approving Peter Nygard’s new development applications, a well-known QC suggesting he had seized land worth $35 million without permission.
BTC slammed with $1.581m fine over network outage
The Bahamas Telecommunications Company (BTC) was last night hit with a $1.581 million fine for last March’s network outage, the sector regulator finding it did not take action to maintain a “functioning” communications system.
Union chief seeks 100-133% increase in minimum wage
The Trade Union Congress’s (TUC) president yesterday backed a 100-133 per cent increase in the Bahamas’ minimum wage, describing this as “reasonable”.
IDB: Baha Mar to up jobless rate 2%
The Bahamas’ unemployment rate will jump by as much as two percentage points due to the 2,000 Baha Mar lay-offs, the Inter-American Development Bank (IDB) is predicting, virtually eliminating the May 2015 decrease.
Gov’t braces for tax breaks legal battle
The Government was last night bracing for an outspoken QC’s latest Judicial Review salvo, after it missed his deadline to provide “an undertaking” that no decisions will be taken on Freeport’s tax and economic regime.
Governor: ‘Credible’ growth plan key to satisfying Moody’s
The Central Bank’s governor yesterday said it was “within the Government’s reach” to lay out an economic growth strategy that convinces Moody’s not to further slash the Bahamas’ credit rating.
Bran: 'Very dodgy' to interfere with business pricing
The Government will be "in very dodgy territory" should it seek to interfere with how Bahamian businesses price their goods and services, the DNA leader has warned.
Provider: We can support asset ‘doubling’ to $900m
A Bahamian financial services provider yesterday said it has the infrastructure to support a “doubling” in size to over $900 million in assets under administration, as it seeks to avoid being “pigeon-holed” in the corporate market.
IDB brands price controls ‘poorly targeted subsidy’
The Government’s price controls are a poorly-targeted mechanism to counter soaring 16 percent food inflation as they benefit the rich as much as low income and vulnerable families, a multilateral lender is arguing.
