All results / Stories / Neil Hartnell
‘No way’ Bahamas can be cut to junk
There is “no way” that Moody’s can cut the Bahamas to ‘junk’ status because it is still meeting all its debt obligations as they become due, a former finance minister argued yesterday.
CIBC: Bahamas worst for ‘bad’ mortgages
CIBC’s top Caribbean executive yesterday revealed that the “magnitude” of non-performing home loans in the Bahamas was “greater than anywhere else” in the region, this nation accounting for 50 per cent of the bank’s ‘bad’ mortgages.
‘Farcical’: Govt picks up ‘entire’ $40m BOB issue
Bank of the Bahamas’ 3,000 minority shareholders have demonstrated their “complete lack of confidence” in the bank after forcing the Government to pick up its “entire” $40 million rights offering.
Bimini Bay facing homeowners revolt
The Bimini Bay Resort is facing a homeowners revolt in the Supreme Court, with multiple purchasers voicing concerns over how their properties and multi-million dollar maintenance fee sums are being managed.
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.
Chamber chief ‘tired’ of sour economic reports
The Bahamas Chamber of Commerce’s (BCCEC) chief executive is “tired” of receiving repeated negative economic reports on this nation, which needs to become “more agile” to reverse course.
‘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.
Ex-minister pledges to battle $2.57m reversal
An ex-Cabinet minister has pledged "to fight on principle" a $2.57 million damages award against himself and his law firm, which the Court of Appeal last week backed as enforceable.
Bahamasair loses $3.5m crash monies
The Court of Appeal yesterday overturned a $3.5 million damages award to Bahamasair, finding that the airline had failed to install an upgraded part that may have prevented a 2007 crash landing.
Litigation concern on Baha Mar delays
Fears were mounting yesterday that the continued delays to Baha Mar’s opening could spark litigation between the parties involved, a Caribbean tourism expert warning they had “better get their act together” to avoid lasting damage to the project and the Bahamas.
Contractor loses ‘millions’ in 4-year BEC theft fight
A former Bahamian Contractors Association (BCA) president yesterday said his business had lost “millions of dollars” during his four-year fight against electricity theft charges, and he was now trying “to put the pieces together again”.
Ex-BCA chief may not have obtained ‘fair trial’
Prosecutors “singularly failed” to prove that a former Bahamian Contractors Association (BCA) president stole electricity at a prominent downtown Nassau property that he managed, the Court of Appeal ruled.
QC: Port requires ‘economic Viagra’
An outspoken QC yesterday urged the Grand Bahama Port Authority (GBPA) to “take a shot of Economic Viagra”, arguing that it had become a mere “collection agency” as opposed to a quasi-governmental developer.
US govt blasts Bar Association
The US government has criticised the Bahamas Bar Association for failing to pursue complaints about the conduct of member attorneys, disclosing that several of its citizens had suffered “significant losses” on flawed real estate deals.
‘Light at end of tunnel’ on Govt mobile buyout
Between 40,000-50,000 Bahamians could own a stake in the second mobile operator’s majority shareholder, with efforts to buy out the Government now glimpsing “light at the end of the tunnel”.
Fiscal hawk fears politicians won’t ‘face the music’
The Government yesterday asked Moody’s to ‘take a bet’ that its economic growth and Budgetary initiatives will succeed, as a well-known fiscal hawk said: “They’re not going to have to face the music.”
Gov’t renews oil explorer’s four licences
A Bahamas-based oil explorer last night said it had obtained “hugely significant clarity” from the Government renewing its key licences for a further three years, removing a potential obstacle to finding a joint venture partner and drilling its first exploratory well.
Provider: We can support asset ‘doubling’ to $900m
A Bahamian financial services provider yesterday said it has the infrastructure to support a “doubling” in size to over $900 million in assets under administration, as it seeks to avoid being “pigeon-holed” in the corporate market.
Governor to ‘bridge gap’ between banks, web shops
The Central Bank’s governor has reaffirmed his commitment to “bridge the gap” between the commercial banking industry and web shop operators, and help ease his licensees’ compliance concerns.
Sixty-day termination notice ‘recipe for woe’
The National Tripartite Council’s co-chairman has branded the proposed ‘60-day advance notice’ that employers must give of impending redundancies as “a recipe for putting your business in trouble”.
