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SCOTIA'S $59M REVERSAL OF 'FIRST EVER NET LOSS'
By NEIL HARTNELL Tribune Business Editor Scotiabank (Bahamas) exceeded its 2011 internal projections through an almost $59 million reversal of its first-ever annual loss, its managing director telling Tribune Business it is targeting a "better year" for
Bahamian realtor at 'Google' conference
Bahamian realtor at 'Google' conference A Bahamian real estate firm participated with worldwide affiliates in a May 9, 2012, marketing seminar at Google's New York offices. Damianos Sotheby's International Realty, along with marketing professionals from
‘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.
Enterprises Bill compared to ‘fighting cancer with band-aid’
A well-known businessman has compared the Government’s Commercial Enterprises Bill to “fighting cancer with a band-aid”.
Consumer chief set to investigate BPL bill spike
The Consumer Protection Commission’s chairman last night promised to investigate the “double” and “triple” energy bill increases many consumers are now experiencing as a result of Bahamas Power & Light’s (BPL) post-Matthew billing practices.
Moody’s to make Govt ‘come clean’
Moody’s downgrade threat will force the Government “to come clean”, the DNA’s leader said yesterday, and be more accountable and transparent than it has been with the Bahamian people on the nation’s fiscal crisis.
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.
Despite 42% productivity rise, BTC off on 'efficiency'
By NEIL HARTNELL Tribune Business Editor Despite beating many countries via a 42 per cent improvement in a key productivity benchmark between 2006-2009, the sector regulator last night suggested the Bahamas Telecommunications Company's (BTC) 2010 account
Title questions raised over $3m AML deal
CITY Markets pension fund trustees have no legal standing to sell the defunct supermarket chain’s former head office to AML Foods for $3 million, it was alleged yesterday.
‘Lots of muscle’ required for $142m toxic BOB pile
The Bank of The Bahamas bail-out vehicle must now employ “lots of muscle” to recover its remaining “toxic” loan collateral valued at $142m, its chairman revealed yesterday.
CREDIT BUREAU TARGET FOR END 2012/START 2013
By NEIL HARTNELL Tribune Business Editor A Bahamian credit bureau should be established by "the latter part of this year or early 2013", the Central Bank's governor has told Tribune Business, with its activation designed to prevent the almost-20 per cent
BAHA MAR'S OCCUPANCIES 3-4% ABOVE FORECAST LEVEL
By NEIL HARTNELL Tribune Business Editor While occupancies at Baha Mar's two existing Cable Beach resorts are trending 3-4 per cent ahead of 2012 forecasts, the resort developer yesterday said they had yet to reach "levels considered acceptable", followi
Ex-AG: Don’t let ‘proper’ FTX collapse probe slide
A former attorney general yesterday warned The Bahamas against letting a “proper probe” into FTX’s implosion slide because of its perfect score in the financial crime fight and Sam Bankman-Fried’s departure.
Ex-Miss Bahamas accuses Tourism on copyright, $130k
* Khiara Sherman claims song used with no say-so * Copyright infringed in promoting Bahamas to guests * And Ministry ‘breached’ three-year employment deal
A former Miss Bahamas Universe winner-turned-songstress is suing the Ministry of Tourism for allegedly breaching a $130,000 employment contract and violating her copyright. Khiara Sherman, who once represented the Bahamas at the global pageant then-controlled by US president, Donald Trump, is claiming the Ministry failed to obtain permission to use her song, Fly Away With Me, in its multi-million dollar marketing campaigns.
$1.23M PREFERENCE PAYOUT CAUSES BOB INVESTORS Q1 LOSS
By NEIL HARTNELL Tribune Business Editors Bank of the Bahamas International's ordinary shareholders suffered a minor $141,676 loss during the institution's fiscal 2012 first quarter, as timing issues related to $1.231 million in preference share dividend
Love Beach development enjoys solid Open House
Love Beach development enjoys solid Open House Damianos Sotheby's International Realty has reported a successful open house at the Columbus Cove development on Nassau's Love Beach. The realtor linked with the project's developer to sponsor the event with
FDI fails to match $804m oil imports
By NEIL HARTNELL Tribune Business Editor A well-known former banker yesterday expressed concern over how the more than $800 million spent on oil imports in 2011 had depleted the Bahamas' foreign exchange reserves, arguing that foreign direct investment (
FAILED BROKER IN '16 REGULATORY BREACHES'
By NEIL HARTNELL Tribune Business Editor The Securities Commission uncovered 16 alleged regulatory breaches during an on-site inspection of Caledonia Corporate Management less than one year before its $25 million collapse, Tribune Business can reveal, th
FINCO non-accruals strike 11.84% mark
FINCO non-accruals strike 11.84% mark By NEIL HARTNELL Tribune Business Editor Finance Corporation of the Bahamas (FINCO) saw its non-performing loans increase by less than 1 per cent or $519,000 during the first quarter of its 2012 financial year, hitt
FINCO non-accruals strike 11.84% mark
FINCO non-accruals strike 11.84% mark By NEIL HARTNELL Tribune Business Editor Finance Corporation of the Bahamas (FINCO) saw its non-performing loans increase by less than 1 per cent or $519,000 during the first quarter of its 2012 financial year, hitt
