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$20M FIRE LOSSES 'UNPRECEDENTED'
By NEIL HARTNELL Tribune Business Editor A leading Bahamian general insurer yesterday said the pre-recession 60/40 split in its auto book had been reversed in favour of third party coverage, with 2011 an "unprecedented" year for large fire-related claims
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
Bahamas realtor starring on HGTV
A Bahamian realtor with ERA Dupuch played a starring role on the well-known HGTV channel, helping to find a rental property that satisfied the requirements of a professional expatriate couple. "This couple had just moved from Dubai, and were excited about
BAHAMAS AT 'TOP OF PACK' ON WEALTH MANAGEMENT
By NEIL HARTNELL Tribune Business Editor Revised legislation will leave the Bahamas "at the top of the pack" among Caribbean financial centres when it comes to private wealth management, the Attorney General told Tribune Business yesterday. Lauding amend
Gov’t plans to narrow VAT payment window
The Government yesterday unveiled plans to shrink the Value-Added Tax (VAT) payment window by seven days, and other revenue enforcement measures, amid the numerous tariff rate cuts consistent with a pre-election Budget.
GB Power seeks ‘unique’ energy storage solution
Grand Bahama Power Company is planning to launch a tender for energy storage technology that is “maybe unique to the world”, in a move that could reduce operating time for at least two generation units.
PM 'elated' over 75% Our Lucaya occupancy level
By NEIL HARTNELL Tribune Business Editor The Prime Minister said he was "elated" upon learning that Our Lucaya's current occupancy levels were at 75 per cent, adding that an owner other than Hutchison Whampoa would likely have closed the Freeport resort.
BAHAMAS TOP RETAIL SPOT FOR FIRSTCARIB
By NEIL HARTNELL Tribune Business Editor CIBC FirstCaribbean International Bank (Bahamas) accounted for the largest share of its Barbadian parent's retail banking revenues in the fiscal year ended on October 31, 2011, generating some $90.64 million or 44
FEEDBACK FROM THE FIRM'S KING
By Ian Ferguson We agree that a stronger focus on our customers enhances our ability to grow and expand our businesses, and to deepen our ability to maximise customer satisfaction. We say often that the customer is 'KING', and that they are the driving f
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.
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.
'SERIOUS' CUSTOMS WOES UNDERMINING FDI, TRADE
By NEIL HARTNELL Tribune Business Editor The Customs Department's "serious institutional and operational limitations", particularly an information management system more than 20 years-old, are undermining the Bahamas' trade competitiveness and ability "t
'SERIOUS' CUSTOMS WOES UNDERMINING FDI, TRADE
By NEIL HARTNELL Tribune Business Editor The Customs Department's "serious institutional and operational limitations", particularly an information management system more than 20 years-old, are undermining the Bahamas' trade competitiveness and ability "t
QC slams ‘free lunch’ for Port and Hutchison
A well-known QC has slammed the Government’s Freeport incentive legislation for “giving a free lunch” to those who can most afford it - Hutchison Whampoa and the Grand Bahama Port Authority’s (GBPA) two family shareholders.
TUC chief: Labour law reform ‘unlikely’ before next election
The Trades Union Congress’s (TUC) president yesterday said it was “highly unlikely” that the controversial labour law reforms will be enacted before the upcoming general election, with little progress in negotiations at the National Tripartite Council.
Bahamas 'top of pack' on wealth management
By NEIL HARTNELL Tribune Business Editor Revised legislation will leave the Bahamas "at the top of the pack" among Caribbean financial centres when it comes to private wealth management, the Attorney General told Tribune Business yesterday. Lauding amend
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
'Madness': 90% of loan requests are consumer
The Bahamas' consumer loan "madness" is making sustainable economic development impossible, as more than nine out of every 10 credit applications fall into this category.
Caribbean hotel rivals beat Bahamas' 5% RevPAR rise
By NEIL HARTNELL Tribune Business Editor The Bahamian hotel industry's 5 per cent revenue per room (RevPAR) increase for the first nine months in 2011 was overshadowed by greater rises in many Caribbean competitors, as an industry consultant yesterday to
Caribbean hotel rivals beat Bahamas' 5% RevPAR rise
By NEIL HARTNELL Tribune Business Editor The Bahamian hotel industry's 5 per cent revenue per room (RevPAR) increase for the first nine months in 2011 was overshadowed by greater rises in many Caribbean competitors, as an industry consultant yesterday to
