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NAD READIES FOR 10,000 PASSENGER EASTER PERIOD

The Nassau Airport Development Company (NAD) is gearing up for an Easter weekend when it is likely to process up to 10,000 passengers, this week marking five years since it took over day-to-day operations at the Lynden Pindling International Airport (LPIA

FUND TARGETS $500M-$1BN IN REAL ESTATE INVESTMENTS

By NEIL HARTNELL Tribune Business Editor A Bahamian financial services provider yesterday said it was targeting between $500 million to $1 billion in asset-backed real estate securities investments for its newly-launched mutual fund, and seeking to expan

FNM deputy fears ‘bubble pop’ over infrastructure spend

The Government’s lack of investment in infrastructure will be “a bubble that pops” on the next administration, the Opposition’s finance spokesman warned yesterday, adding that this was contrary to the International Monetary Fund’s (IMF) advice.

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,

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.

'Little chance' to lower high debt, bad loan levels

The Central Bank of the Bahamas has admitted the current economic climate provides "little opportunity" to reduce high consumer debt and loan delinquency levels, with only 'qualified borrowers' able to access credit.

$6.6bn debt ‘well beyond’ the need for stabilisation

The Bahamas is “well beyond” the point where it merely needs to “stabilise” its $6.6 billion national debt, a former Chamber chairman said yesterday, as he warned that the economy was showing “no desire for growth”.

GROWTH FOCUS 'LATITUDE' VIA AML'S $10M PREF RESTRUCTURE

By NEIL HARTNELL Tribune Business Editor AML Foods says its latest preference share restructuring has given it "a tremendous amount of latitude" to focus on growth opportunities, having raised a further $4.28 million in capital and reduced dividend (inte

Engineers chief: Our growth is being ‘stymied’

The Bahamas Society of Engineers (BSE) president yesterday bemoaned how local professionals were frequently being ‘frozen out’ of foreign direct investment (FDI) projects, with work “never touching our soil”.

Gov't 'dragging on everything'

The Tax Coalition’s co-chair yesterday said there ad been no contact with the Government since the Budget’s unveiling more than a month ago, complaining that the Christie administration was “dragging their feet on everything” vital to the private sector.

Insurance recovery may wait until 2017

The Bahamian insurance industry may have to wait until mid-2017 to return to strong growth, with one leading underwriter saying its main goal is to “hold the fort”.

BANK IS FACING 50,000 ACCOUNT PROBE ON FATCA

By NEIL HARTNELL Tribune Business Editor Commonwealth Bank yesterday said it was facing the prospect of 'drilling down' into an estimated 50,000 client accounts to determine if there was any US beneficial ownership connection, while telling Tribune Busin

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.

IMF slashes Bahamas 2016 growth to 1.5%

The International Monetary Fund (IMF) has slashed its 2016 growth forecast for the Bahamas by a further 0.7 percentage points to just 1.5 per cent, due to the Baha Mar impasse.