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Baha Mar becoming ‘huge white dinosaur’

A former Baha Mar director yesterday warned that the Government will soon “have a huge white dinosaur on their hands”, despite the project’s secured creditor promising that a solution is being developed.

Miller denies running own BEC bid process

Leslie Miller has denied running his own bidding process for the Bahamas Electricity Corporation (BEC), even though one energy group says he encouraged them to submit a proposal after they were kicked out of the official tender.

Bank payment charges need ‘legitimate redress’

THE Central Bank yesterday appeared to concede that fees for payment services were too high and “require legitimate redress”, a view shared by 78 per cent of Bahamians.

Corporate redress regime upheld with $33m verdict

The Supreme Court has prevented the Bahamas being perceived as “a parochial, quirky jurisdiction” for international business through its recent ruling on a $33 million insolvency dispute, a former attorney general said yesterday.

‘Farcical’: Govt picks up ‘entire’ $40m BOB issue

Bank of the Bahamas’ 3,000 minority shareholders have demonstrated their “complete lack of confidence” in the bank after forcing the Government to pick up its “entire” $40 million rights offering.

Pensioners left with 30% in City Markets HQ sale

* Claim trustees ‘not acting in our best interest’ * Trustees retain 27% of $3m sale to AML Foods * And lawyer paid almost one-third of proceeds

City Markets pensioners have been “kept in the dark” over the $3 million sale of the plan’s main asset, with just 30 per cent of the proceeds seemingly left for their benefit.

IDB TO BAHAMAS: RUN 2.5% PRIMARY SURPLUS

By NEIL HARTNELL Tribune Business Editor The Bahamas was yesterday warned to "pick up the pace" of fiscal reform, the Inter-American Development Bank's (IDB) top Caribbean economist saying this country needed to achieve primary Budget surpluses equivalen

NO 'OPEN DOORS' FOR $8BN-$10BN INDUSTRY

By NEIL HARTNELL Tribune Business Editor A potential $8-$10 billion industry lies beneath Bahamian waters if its development is handled correctly, a local archaeological salvage expert yesterday warning against an 'Open Doors' policy that would allow for

NO 'OPEN DOORS' FOR $8BN-$10BN INDUSTRY

By NEIL HARTNELL Tribune Business Editor A potential $8-$10 billion industry lies beneath Bahamian waters if its development is handled correctly, a local archaeological salvage expert yesterday warning against an 'Open Doors' policy that would allow for

'Level playing field' urged over Freeport bonded good reform

By NEIL HARTNELL Tribune Business Editor A leading wholesaler yesterday urged that any reforms to Freeport's 'bonded goods' economy create a "level playing field", and not place his firm and others at "a competitive disadvantage" by sucking money out of

Shareholder outrage over ‘no change’ BOB

Bank of the Bahamas shareholders yesterday reacted with outrage over the decision to nominate the existing Board of Directors for re-election, one demanding: “Where does the buck stop?”

Baha Mar avoids damages on $10m 'credit letter'

Baha Mar has reached a legal settlement that prevents a former hotel partner seeking specific damages against it for trying to draw down a $10 million Letter of Credit, although arbitration proceedings remain alive.