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KERZNER FORECLOSE WOULD COST $230M
By NEIL HARTNELL Tribune Business Editor Some $230 million in costs would be incurred just to foreclose on Kerzner International's Paradise Island properties, a Delaware judge questioning why Brookfield Asset Management should be the only one to potentia
PRIVATISATION CAN 'HOLD BAHAMAS TO RANSOM'
By NEIL HARTNELL Tribune Business Editor A leading activist yesterday urged the Government not to privatise the energy and water industries on the grounds that foreign buyers could "hold the Bahamas to ransom", adding that this nation had "not begun to s
ATLANTIS OWNER 'OUT OF MONEY AT $2.3BN PI SALE
By NEIL HARTNELL Tribune Business Editor The Atlantis resort's potential new owner could lose the entire $175 million it is owed if the proposed debt-for-equity swap with Kerzner International fails to go through, a lawsuit seeking to block the deal is a
ATLANTIS OWNER 'OUT OF MONEY AT $2.3BN PI SALE
By NEIL HARTNELL Tribune Business Editor The Atlantis resort's potential new owner could lose the entire $175 million it is owed if the proposed debt-for-equity swap with Kerzner International fails to go through, a lawsuit seeking to block the deal is a
NEXT GOV'T 'CANNOT IGNORE' TAX REFORM
By NEIL HARTNELL Tribune Business Editor The next Government cannot "ignore the need" for tax reform and moving towards a sales/Value Added (VAT" tax regime, the minister of state for finance telling Tribune Business there was still "a reasonable enough
Sarkis loss ‘over $3bn’ if Baha Mar hit targets
Sarkis Izmirlian would so far have “lost more than $3bn” in potential profits alone if the Baha Mar resort from which he was ousted hit his financial projections, an analyst’s report has calculated.
$500M REVENUE RISE NO FISCAL GAP BRIDGE
By NEIL HARTNELL Tribune Business Editor The Government's annual fiscal deficit averaged more than $170 million during the 2002-2008 'economic boom' years despite an almost $500 million rise in revenues over that period, showing that reining in out-of-co
Price controls ‘out window’ with WTO
The Bahamas Motor Dealers Association’s (BMDA) president yesterday expressed hope that WTO membership will result in price controls “going out the window” to be scrapped.
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 MOVES TO AVOID EARLY 'MISS' AT EX-GINN PROJECT
By NEIL HARTNELL Tribune Business Editor The Canadian-based developer for the former $4.9 billion Ginn project's real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the developm
DEVELOPER MOVES TO AVOID EARLY 'MISS' AT EX-GINN PROJECT
By NEIL HARTNELL Tribune Business Editor The Canadian-based developer for the former $4.9 billion Ginn project's real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the developm
DEVELOPER MOVES TO AVOID EARLY 'MISS' AT EX-GINN PROJECT
By NEIL HARTNELL Tribune Business Editor The Canadian-based developer for the former $4.9 billion Ginn project's real estate component yesterday said it would suffer "a very severe blow" if it did not get the next phase right, having shifted the developm
Bahamas ‘on probation’: 17-step action plan cure
The Government has detailed a 17-step ‘action plan’ to strengthen the Bahamas’ anti-money laundering regime, with a top regulator describing this nation as “on probation” over increasing weaknesses.
RoyalFidelity's fund with 'different angle'
RoyalFidelity is planning to launch an “alternative” US$ 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.
Broker ‘in peril’ if it meets US demands
A Bahamian broker/dealer will “act at its peril” should it comply with US federal regulators’ demands to produce thousands of documents relevant to their ongoing New York legal battle.
Ex-Hard Rock franchisee queries transfer to ex-MP
Hard Rock Cafe's former Nassau franchisee has questioned why the business was so readily handed to its Bahamian landlord, when a decade earlier he had been "forced" to pay $1 million to end their partnership.
800 job applications for new mobile player
Cable Bahamas had received around 800 applications for jobs with the nation's second mobile provider by end-last week, it was revealed yesterday, and is confident the new operator can beat its financial targets.
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