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Bermuda learns from Arawak Port project
Arawak Port Development Company (APD) executives recently hosted Bermuda government officials on a tour of the $83 million Nassau Container Port and Gladstone Freight Terminal. Marc A.R. Bean, Bermuda's minister of environment, planning and infrastruct
Florida court blocks $7.59m Bahamas ruling
A contractor’s bid to enforce a $7.59 million Bahamas Supreme Court judgment against a major global hotel chain has been blocked by a Florida appeals court, which ruled the latter was not involved in a $1 billion Bahamian joint venture.
Gov't pushes deficit elimination forecast back three years
The Government has pushed back its original projections for eliminating the fiscal deficit by three full years, and is now pinning its hopes on a $449 million, four-year 'swing' into surplus.
Tax crackdown: Govt hits 6,000 businesses, 5,000 property owners
The Government last night unveiled its promised crackdown on tax defaulters, promising to first pursue the largest, wealthiest delinquents - some 6,000 businesses and 5,000 high-end property owners.
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.
FUND 'BELOW PAR' AFTER 50% VACANCY CUT FAILURE
By NEIL HARTNELL Tribune Business Editor The Bahamas Property Fund's failure to cut the 20 per cent vacancy rate at its flagship Bahamas Financial Centre by half meant its 2011 performance fell "slightly below expectations", although last May's Bahamian
INSURANCE BROKERS: OVER 25% TO 'FALL OFF'
By NEIL HARTNELL Tribune Business Editor More than 25 per cent of all existing Bahamian insurance brokers and agents are unlikely to be licensed under the new Act governing the sector, the Insurance Commission told Tribune Business yesterday. Arvind Bagh
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
COMMISSION URGED TO ACT ON $10M PORT PROSPECTUS
By NEIL HARTNELL Tribune Business Editor A prominent businessman has again urged the Securities Commission to "become involved" and ensure the prospectus for the $10 million Arawak Cay initial public offering (IPO) is amended to confirm that the 20 per c
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
Car Show 'bounce' in 83-100% sales growth
BAHAMIAN new car dealers yesterday revealed that the Car Show "bounce" appeared to have returned in 2012, with April's sales up between 83-100 per cent month-over-month compared to March.
'Missing link' to grow BORCO revenue $20m
'Missing link' to grow BORCO revenue $20m By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) revenues could increase by up to $20 million per annum due to its owner creating "a critical link" between its Bahamian and US
'Missing link' to grow BORCO revenue $20m
'Missing link' to grow BORCO revenue $20m By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) revenues could increase by up to $20 million per annum due to its owner creating "a critical link" between its Bahamian and US
'Missing link' to grow BORCO revenue $20m
'Missing link' to grow BORCO revenue $20m By NEIL HARTNELL Tribune Business Editor The Bahamas Oil Refining Company's (BORCO) revenues could increase by up to $20 million per annum due to its owner creating "a critical link" between its Bahamian and US
Revived Mortgage Plan may assist ‘over 1,000’
The Government yesterday unveiled a revised Mortgage Relief Plan it believes could assist “upwards of 1,000 delinquent borrowers”, via a 20-25 per cent cut to monthly loan payments.
Bahamas ranked in bottom three of finance centres
A FORMER Bahamas Financial Services Board (BFSB) chairman yesterday said a report that ranked the Bahamas a lowly 75th out of 77 global financial centres would "not impact" this jurisdiction's core private wealth management client base, adding that he was "more worried" about G-20 driven regulatory initiatives.
Drug wholesalers yet to feel PHA’s 20% spend rise
Major Bahamian pharmaceutical wholesalers last night said they were yet to feel the benefits of the Public Hospitals Authority’s (PHA) 20 per cent ‘local’ spending increase, with two reporting a decline in government sales this year.
FAMILIES EARNING UNDER $5K YEARLY INCREASE BY 83%
By NEIL HARTNELL Tribune Business Editor The number of Bahamian households surviving on less than $5,000 per year has increased by an "alarming" 83 per cent in the past four years, Department of Statistics data shows, indicating the recession has most im
Bahamas ranked in bottom three of finance centres
By NEIL HARTNELL Tribune Business Editor A former Bahamas Financial Services Board (BFSB) chairman yesterday said a report that ranked the Bahamas a lowly 75th out of 77 global financial centres would "not impact" this jurisdiction's core private wealth
