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$8K PER MONTH LOSSES CLOSE GB'S 'FAVOURITE EATERY'
By NEIL HARTNELL Tribune Business Editor A well-known Bahamian businessman yesterday told Tribune Business he had closed "Freeport's favourite restaurant" because it had been losing between $6,000-$8,000 per month for the past two years, adding that rent
$8K PER MONTH LOSSES CLOSE GB'S 'FAVOURITE EATERY'
By NEIL HARTNELL Tribune Business Editor A well-known Bahamian businessman yesterday told Tribune Business he had closed "Freeport's favourite restaurant" because it had been losing between $6,000-$8,000 per month for the past two years, adding that rent
Port 'dismayed' by Shenanigan's
The Grand Bahama Port Authority (GBPA) has described itself as "dismayed" by criticisms from a Bahamian businessman who closed his Port Lucaya Marketplace restaurant blaming high rents, arguing that he had been "unresponsive" to attempts to resolve the si
Port 'dismayed' by Shenanigan's
The Grand Bahama Port Authority (GBPA) has described itself as "dismayed" by criticisms from a Bahamian businessman who closed his Port Lucaya Marketplace restaurant blaming high rents, arguing that he had been "unresponsive" to attempts to resolve the si
Bahamas breaks global standards with jet fuel tax
The Bahamas is breaching international standards by levying 7 per cent import duty on jet fuel, warns a report produced for the Caribbean Development Bank (CDB).
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
'Almost $900m' raised on LPIA redevelopment
THE Nassau Airport Development Company (NAD) yesterday told Tribune Business it had now raised "almost $900 million" via six separate financial transactions, having just closed the final $225 million round to fund Lynden Pindling International Airport's (LPIA) $409.5 million redevelopment.
THE 'BAHAMIAN DREAM' HAS SOURED FOR SO MANY
Anyone who reads the local newspapers cannot help but notice the large number of distressed Bahamian homes advertised for sale by banks under their mortgage powers. Never before in the history of the Bahamas have so many families suffered the humiliation,
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?”
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.
Bahamians urged: Show ‘more ‘outrage’ over financial crimes
BAHAMIANS were yesterday urged to show “more outrage” over financial crime and poor business practices, a prominent cleric arguing that these had become “entrenched in our culture”.
Development Bank fund ‘sinking’: Covers 1/3 of $46m bonds
* Just 28.4% of loans ‘performing’ * Accumulated losses over $60m * Solvency deficiency at $31.31m
THE Bahamas Development Bank’s (BDB) ‘sinking fund’ covered just one-third of its $46 million outstanding bond debt at year-end 2016, with only 28.4 per cent of its loans ‘performing’. The BDB’s 2016 financial statements, tabled in the House of Assembly in Wednesday by the Prime Minister, reveal the parlous state of another state-owned enterprise (SOE) that has racked up more than $60 million in losses for the Bahamian taxpayer during its 43-year existence.
SMALL BUSINESS BILL DISCUSSION TARGET BEFORE 2012 ELECTION
By NEIL HARTNELL Tribune Business Editor A government minister says he is "reasonably certain" that broad consultation with stakeholders on the much-awaited Small and Medium-Sized Business (SME) Development Bill can be held prior to the general election,
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.
'Mixed bag': Auto sales 50% off peak
By NEIL HARTNELL Tribune Business Editor A leading auto dealer believes the industry will "eventually" recover to levels comparable to its 2007 peak, despite 2011's new car sales being almost 50 per cent down on that banner period in what was described a
All Bahamians need the energy for conservation
Dear Editor, I am moved to respond to the "dabbling" comment in the article on Renewable Energy in last Thursday's Business Section of The Tribune. Governments are increasingly being asked to do more and be more. Yet individual choices are at the centre
All Bahamians need the energy for conservation
Dear Editor, I am moved to respond to the "dabbling" comment in the article on Renewable Energy in last Thursday's Business Section of The Tribune. Governments are increasingly being asked to do more and be more. Yet individual choices are at the centre
All Bahamians need the energy for conservation
Dear Editor, I am moved to respond to the "dabbling" comment in the article on Renewable Energy in last Thursday's Business Section of The Tribune. Governments are increasingly being asked to do more and be more. Yet individual choices are at the centre
Potential West End investors coming in 'once a month'
By NEIL HARTNELL Tribune Business Editor The owners/developers of some 500 acres at Grand Bahama's West End are bringing potential investors to inspect the site at least "once a month", Tribune Business was told yesterday, and remain optimistic they can
Potential West End investors coming in 'once a month'
By NEIL HARTNELL Tribune Business Editor The owners/developers of some 500 acres at Grand Bahama's West End are bringing potential investors to inspect the site at least "once a month", Tribune Business was told yesterday, and remain optimistic they can
