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'Mixed bag': Auto sales 50% off peak
By NEIL HARTNELL Tribune Business Editor A leading auto dealer believes the industry will "eventually" recover to levels comparable to its 2007 peak, despite 2011's new car sales being almost 50 per cent down on that banner period in what was described a
Tax break may help 41,000 homeowners
Prime Minister Perry Christie yesterday said more than 41,000 homeowners could benefit from the Government’s decision to waive real property tax arrears for owner-occupied homes valued at less than $250,000.
BORCO: 58% OF STORAGE MONIES FROM 3 CLIENTS
By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) parent has listed the Grand Bahama-based facility's narrow customer base among its material risks, with 58 per cent of its core oil storage revenues coming from just its
BORCO: 58% OF STORAGE MONIES FROM 3 CLIENTS
By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) parent has listed the Grand Bahama-based facility's narrow customer base among its material risks, with 58 per cent of its core oil storage revenues coming from just its
BORCO: 58% OF STORAGE MONIES FROM 3 CLIENTS
By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) parent has listed the Grand Bahama-based facility's narrow customer base among its material risks, with 58 per cent of its core oil storage revenues coming from just its
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.
Just 12% of mortgages finance 'new buildings'
New Central Bank of the Bahamas date has provided a further insight into the sluggish home construction market, with just 12 per cent of mortgage applications involving 'new builds'.
‘Breath of fresh air’: 150k cruise arrivals over Xmas
The Downtown Nassau Partnership’s (DNP) co-chair yesterday hailed the increase in cruise ship traffic as a “breath of fresh air” for business with close to 150,000 passenger arrivals forecast for Christmas week.
$112m spent with 'no due process'
$112m spent with 'no due process' By NEIL HARTNELL Tribune Business Editor With more than $112 million in public monies spent "without any evidence of due process", the Bahamian Contractors Association's (BCA) president has urged the Government to use t
$112m spent with 'no due process'
$112m spent with 'no due process' By NEIL HARTNELL Tribune Business Editor With more than $112 million in public monies spent "without any evidence of due process", the Bahamian Contractors Association's (BCA) president has urged the Government to use t
Labour quality 'compromised' roads project
Labour quality 'compromised' roads project By NEIL HARTNELL Tribune Business Editor The Public Accounts Committee (PAC) yesterday accused the main contractor working on the $113 million New Providence Road Improvement Project (NPRIP) of using "poorly tr
Trade deficit narrows 9.7%
The Bahamas experienced a 9.7 per cent drop in its trade deficit to $2.554 billion in 2013, largely due to an almost-$300 million fall in its import bill.
Bahamasair reduces staff 12% in 5 years
Bahamasair reduces staff 12% in 5 years By NEIL HARTNELL Tribune Business Editor Bahamasair has reduced staff levels through "natural attrition" by more than 12 per cent over the past five years, Tribune Business was told yesterday, while improving its
$112m spent with 'no due process'
$112m spent with 'no due process' By NEIL HARTNELL Tribune Business Editor With more than $112 million in public monies spent "without any evidence of due process", the Bahamian Contractors Association's (BCA) president has urged the Government to use t
BTC to complete Abaco cell overhaul in mid-May
THE Bahamas Telecommunications Company (BTC) is set to complete its wireless system overhaul on Abaco and the northern Bahamas by mid-May, giving customers improved cellular service, including faster speeds for downloads and browsing on smart phones.
Developer seeks $10m in new equity finance
The developers behind Eleuthera’s French Leave Resort and Marina yesterday said they were “cautiously optimistic” about securing an additional $10 million in equity financing to fund the build-out of 20 more villas.
BAHAMAS URGED: ADDRESS FINANCIAL LAW WEAKNESSES
By NEIL HARTNELL Tribune Business Editor The US government has again urged the Bahamas to strengthen its anti-terror financing laws and make membership of organised criminal gangs a criminal offence, according to a recently-released US State Department r
Investor group eyeing $20-$30m water sales
Investor group eyeing $20-$30m water sales By NEIL HARTNELL Tribune Business Editor The investor group that acquired the former Bacardi plant believes its ECH2O bottled water brand can generate $20-$30 million in annual sales in five to six years time,
BREAK FINANCIAL 'STATUS QUO' VIA 23% GDP GOAL
By NEIL HARTNELL Tribune Business Editor The financial services industry's direct GDP contribution could grow to 22-23 per cent within five-seven years if the Bahamas was bold enough to break with the "status quo" position it has maintained for the past
Bimini Bay facing homeowners revolt
The Bimini Bay Resort is facing a homeowners revolt in the Supreme Court, with multiple purchasers voicing concerns over how their properties and multi-million dollar maintenance fee sums are being managed.
