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ATLANTIS TAKEOVER 'BEST THING THAT EVER HAPPENED'
By NEIL HARTNELL Tribune Business Editor Brookfield Asset Management's ownership takeover at Atlantis and the One & Only Ocean Club has been described by a leading accountant as "the best thing that ever happened for the Bahamas". Raymond Winder, managin
ATLANTIS TAKEOVER 'BEST THING THAT EVER HAPPENED'
By NEIL HARTNELL Tribune Business Editor Brookfield Asset Management's ownership takeover at Atlantis and the One & Only Ocean Club has been described by a leading accountant as "the best thing that ever happened for the Bahamas". Raymond Winder, managin
'Five Baha Mars' needed to solve jobless crisis
The Bahamas needs “five Baha Mars going on” simultaneously to achieve the 5.5 per cent GDP growth necessary to slash existing unemployment by 50 per cent and absorb thousands of annual school leavers into the workforce.
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
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.
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
MSC cruise port: No lease agreement yet
No agreement has yet been reached to transfer the lease of Ocean Cay to Mediterranean Shipping Company (MSC) for its private cruise port, with the current holder saying of the project: "It won't be done overnight."
CCA: We’ll ‘be laughed at by world’ if Baha Mar not open
Top executives at Baha Mar’s main contractor voiced fears they would “be laughed at by the world” if the mega resort’s target 2015 opening was missed while admitting to multiple “shortcomings and deficiencies” in its construction.
Bank warns on provisions rise
By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling
GB Power minimises $4.7m recovery effect
GB Power minimises $4.7m recovery effect By NEIL HARTNELL Tribune Business Editor The Grand Bahama Power Company (GBPC) has received regulatory approval to minimise the consumer impact of recovering a $4.7 million impairment charge by spreading it out o
BCA chief: 'Many smaller builders' oppose regulation
BCA chief: 'Many smaller builders' oppose regulation By NEIL HARTNELL Tribune Business Editor Many smaller Bahamian contractors do not support the Bahamian Contractors Association (BCA) or its push for legislation to regulate the industry, the latter's
Bank warns on provisions rise
By NEIL HARTNELL Tribune Business Editor Bank of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling
Bahamas can’t afford ‘another five years’ of secretive governance
The Bahamas cannot afford “another five-year cycle” of unaccountable government spending, a governance reformer warned yesterday, arguing that a Fiscal Responsibility Act should have “preceded” Value-Added Tax (VAT).
Governor to ‘bridge gap’ between banks, web shops
The Central Bank’s governor has reaffirmed his commitment to “bridge the gap” between the commercial banking industry and web shop operators, and help ease his licensees’ compliance concerns.
Sixty-day termination notice ‘recipe for woe’
The National Tripartite Council’s co-chairman has branded the proposed ‘60-day advance notice’ that employers must give of impending redundancies as “a recipe for putting your business in trouble”.
CAR DEALERS SUFFER $75M REVENUE HIT
By NEIL HARTNELL Tribune Business Editor Bahamas Motor Dealers Association (BMDA) members saw their collective sales revenues fall by more than $75 million over the first 10 months of the years between 2009-2011, one dealer suggested yesterday, although
CAR DEALERS SUFFER $75M REVENUE HIT
By NEIL HARTNELL Tribune Business Editor Bahamas Motor Dealers Association (BMDA) members saw their collective sales revenues fall by more than $75 million over the first 10 months of the years between 2009-2011, one dealer suggested yesterday, although
