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CWC: BTC ‘lags’ region despite $75m investment
The Bahamas Telecommunications Company’s (BTC) controlling owner yesterday conceded that its network quality “lags” much of the Caribbean and wider world, despite increasing its capital investment by 47 per cent last year.
MP fears Baha Mar impact on sovereign rating
An Opposition MP yesterday warned that the Bahamas’ sovereign creditworthiness could be “very negatively” impacted if the $3.5 billion Baha Mar project fails to open within the next three to six months.
‘Wonderful opportunity’ for Long Island revival
The resolution to a 10-year dispute over Long Island’s one-time largest employer presents “a wonderful opportunity” to revive the island’s economy, its MP yesterday describing the surrounding area as “ghost town”.
QC demands new Port ownership
A well-known QC has called for new ownership and management at the Grand Bahama Port Authority (GBPA), arguing that this is a major reason for Freeport’s “listlessness”.
MSC warns over Customs change shipment delays
The world’s second largest cargo shipper has warned Bahamian companies that their imports will be delayed “until the next sailing” if manifests are not made for compliance with Bahamas Customs’ new requirements.
‘Deceptive indicators’ hurt Budget estimates
The Chamber of Commerce’s chairman believes the use of “misnomers and deceptive indicators” are causing the Government to consistently miss unrealistic Budget and fiscal targets.
BOB two years from profitability
Prime Minister Perry Christie yesterday revealed it will take a further two years for Bank of the Bahamas to return to profitability, as he confirmed plans to recapitalise the troubled institution.
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
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
‘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
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.
