"%EB%AA%A8%EB%85%B8%EC%B9%B4%EC%A7%80%EB%85%B8%EB%A8%B9%ED%8A%80%E3%80%8Ctrrt2%E2%80%A4com%E3%80%8D%20%EB%AA%A8%EB%91%90%EB%B0%94%EB%91%91%EC%9D%B4%20%EB%AA%A8%EB%B0%94%EC%9D%BC%EB%A3%B0%EB%A0%9B%E2%96%B3%EB%AA%A8%EB%B0%94%EC%9D%BC%EB%B0%94%EB%91%91%EC%9D%B4%E2%92%B5%EB%AA%A8%EB%B0%94%EC%9D%BC%EB%B0%94%EB%91%91%EC%9D%B4%EA%B2%8C%EC%9E%84%20VNR/" | Search

Bahamas ‘falls off map’ on Caribbean hospitality lending

The Bahamas has ‘dropped off the map’ among traditional bank lenders to the hotel/tourism industry, with this nation failing to feature among the top 10 Caribbean destinations for new lending.

BEC managerial talks start today

The Government will today begin negotiations with PowerSecure International over the five-year Bahamas Electricity Corporation (BEC) management contract, amid pledges that the deal will be overseen by “a non-partisan” Board.

Gov’t agrees ‘few hundred thousand’ in VAT credits

The Government has approved “several hundred thousand dollars” of Value-Added Tax (VAT) credit refunds, a top official yesterday promising that businesses would not endure “a protracted wait” to receive them.

BEC manager-elect slams 'fraud by hindsight' claim

The Bahamas Electricity Corporation's (BEC) prospective manager has dismissed as "fraud by hindsight" claims that it artificially inflated its stock price prior to a one-day wipe-out that erased $250 million in shareholder value.

Litigation concern on Baha Mar delays

Fears were mounting yesterday that the continued delays to Baha Mar’s opening could spark litigation between the parties involved, a Caribbean tourism expert warning they had “better get their act together” to avoid lasting damage to the project and the Bahamas.

‘Lessons must be learnt’ from Baha Mar’s chinese woe

Lessons must be learned from Baha Mar’s construction woes to ensure other Chinese-led investment projects avoid similar delays, a leading contractor yesterday noting the same company is poised to begin the British Colonial Hilton’s $200 million redevelopment.

Attorney demands promotional body for Grand Bahama

A leading Freeport attorney yesterday demanded that the Grand Bahama Port Authority (GBPA) and Hutchison Whampoa be required to finance a Professional Marketing Organisation (PMO) to internationally promote what he described as “the forgotten island”.

CIBC: Bahamas worst for ‘bad’ mortgages

CIBC’s top Caribbean executive yesterday revealed that the “magnitude” of non-performing home loans in the Bahamas was “greater than anywhere else” in the region, this nation accounting for 50 per cent of the bank’s ‘bad’ mortgages.

Ryan’s employer: Financial sector’s ‘great opportunity’

Ryan Pinder’s new employer believes the Bahamas has “a tremendous opportunity” in financial services if it is innovative, with its current recruitment drive intended to position the institution “for the next 20 years”.

Atlantis’s 4.5% Xmas rate rise beats hotel norm

Atlantis has seen a “quite substantial” 4.5 per cent year-over-year increase in average daily room rates (ADRs) for the upcoming peak Christmas/New Year season, a growth rate exceeding industry norms.

Nassau world’s 5th most expensive city for hotel vacations

Nassau’s was yesterday ranked as the fifth most expensive city in the world for hotel accommodation, a finding that will further raise concern that this nation is slowly pricing itself out of the global tourism market.

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?”

RoyalFidelity predicts ‘double digit millions’ for new fund

RoyalFidelity believes its latest mutual fund will attract “double digit millions” from Bahamian investors through its promise to pay them a 4 per cent annual dividend.

Illegal netting threatens $1.5m bonefish investment

A Long Island bonefishing lodge owner says his $1.5 million investment and six jobs are being jeopardised by illegal netting, which threatens to “wipe out” the industry within the next five years.

Atlantis eyes 100k extra room nights in Marriott tie-up

Atlantis is hoping its 10-year franchise deal with Marriott International will generate an extra 50,000-100,000 room nights per year, its top executive describing the agreement as “the most significant tourism stimulus for the Bahamas this decade”.

Atlantis 'savours' $1.9bn refinance

Atlantis was yesterday said to be “savouring” its completed $1.9 billion debt refinancing, its owner having invested some $500 million in the property since taking control two years ago.

‘No doubt over VAT chaos’ on January 1

A well-known businessman yesterday said he had “no doubt” the Government will be unable to seamlessly implement Value-Added Tax (VAT) come January 1, suggesting “chaos” would result from failing to promptly educate the private sector.

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.

'No doubt over VAT chaos' on January 1