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Receivables over three times' Water Corporation target
By NEIL HARTNELL Tribune Business Editor Just how far the Water & Sewerage Corporation has to go to achieve financial viability has been highlighted by several key financial performance indicators, which show it currently enjoys a -44 per cent operating
CWC: BTC ‘lags’ region despite $75m investment
The Bahamas Telecommunications Company’s (BTC) controlling owner yesterday conceded that its network quality “lags” much of the Caribbean and wider world, despite increasing its capital investment by 47 per cent last year.
CHAMBER CHIEF 'VERY CONCERNED' AT $300M BAD BUSINESS LOANS
By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday described as "very concerning" the almost-$300 million worth of 'bad loans' to the private sector, with January's $10.6 mill
CHAMBER CHIEF 'VERY CONCERNED' AT $300M BAD BUSINESS LOANS
By NEIL HARTNELL Tribune Business Editor The Bahamas Chamber of Commerce and Employers Confederation's (BCCEC) chairman yesterday described as "very concerning" the almost-$300 million worth of 'bad loans' to the private sector, with January's $10.6 mill
RoyalFidelity's fund with 'different angle'
RoyalFidelity is planning to launch an “alternative” US$ fund this summer that aims to minimise market volatility risk, a move coinciding with the maturing of another product forecast to generate 50 per cent investor returns.
Miller confident on Robin Hood replacement
By NEIL HARTNELL Tribune Business Editor Robin Hood's landlord yesterday told Tribune Business he is extremely confident about finding a replacement tenant for the closing retailer, describing the Summerwinds Plaza location as "second to none" and "the b
Broker severs ties with ex-investor over $1m ‘misuse’
A Bahamian broker/dealer yesterday said it had severed all ties with a former shareholder after he allegedly misappropriated $1 million that was intended to be an equity investment in the firm.
‘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.
Property Fund ‘gap’ as PwC to vacate Providence House
THE BISX-listed Bahamas Property Fund is preparing for temporary vacancy at its last fully-occupied property, following a $2.206 million third quarter hit caused by a timing adjustment.
'Early summer' start on $100m B Mar power plant
'Early summer' start on $100m B Mar power plant By NEIL HARTNELL Tribune Business Editor Some 75 persons will be employed at peak construction on Baha Mar's $100 million Seawater District Cooling (SDC) plant, Tribune Business was told yesterday, with bu
'Early summer' start on $100m B Mar power plant
'Early summer' start on $100m B Mar power plant By NEIL HARTNELL Tribune Business Editor Some 75 persons will be employed at peak construction on Baha Mar's $100 million Seawater District Cooling (SDC) plant, Tribune Business was told yesterday, with bu
Landfill chief: ‘Don’t read anything’ into our CEO transition
Renew Bahamas’ principal shareholder yesterday said “nothing can be read” into his stepping down as the New Providence landfill manager’s chief executive, as concerns persist over its financial health.
DPM: Bahamas must ‘prove’ itself to S&P
* ‘Not at all’ upset nation still ‘junk’ * Blames former Govt’s failure to deliver * Nation has 12-24 months to execute
The Government must “prove” it can deliver on its fiscal and economic turnaround strategy, the Deputy Prime Minister admitted yesterday, after Standard & Poor’s (S&P) kept the Bahamas at ‘junk’ status. K P Turnquest told Tribune Business he was “not at all” disappointed at the outcome of S&P’s annual review of the Bahamas’ sovereign creditworthiness, despite having previously expressed optimism that the Government could make the case to be upgraded to ‘investment grade’ status.
15 CANDIDATES FOR BRAND AMBASSADOR
Fifteen representatives from various Bahamas Financial Services Board (BFSB) member firms are participating in the Bahamas Brand Ambassador programme, which is attempting to identify professionals who exhibit the industry's best qualities. Three Bahamas B
Liquidator targeting Govt’s $720k oil fee
Some $720,000 in oil exploration license fees that were paid to the Bahamas Government are being targeted by a Cayman-based liquidator, who has written to two Cabinet ministers seeking their assistance in recovering the funds.
Union chief: ‘No way’ would I breach law and Bar regulations
A trade union leader yesterday said there was “no way” he would have agreed to an illegal ‘contingency fee’ in taking on Sandals Royal Bahamian all the way to the Privy Council.
‘No cause for celebration’ over S&P breathing room
* Bahamas ‘still has to climb out of hole’ * But Chamber chief ‘fully expects’ 2018 upgrade * Many Bahamians don’t realise reform ‘gravity’
PRIVATE sector executives yesterday said the Bahamas has “no cause for celebration yet” after Standard & Poor’s (S&P) elected not to further downgrade its sovereign creditworthiness.
GETTING TO GRIPS WITH IMMIGRATION REALITIES
By Larry Gibson The recent visit by President Martelly of Haiti, and comments he made to a gathering mostly of Haitian nationals and Bahamians of Haitian origin, continue to provoke much highly-charged discussion. No matter where you fall on the immigrat
PHA exceeds bond target with $26-$27m
The Public Hospitals Authority's (PHA) $25 million bond issue closed slightly oversubscribed, its financial advisers estimating that between $26-$27 million has been raised from investors.
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
