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ATLANTIS SWITCH 'DOESN'T ADD UP'
By NEIL HARTNELL Tribune Business Editor A former Bahamas Chamber of Commerce president yesterday said the details surrounding Kerzner International's $175 million debt-for-equity swap did not 'add up', questioning how the new owners would see a return o
Colina Holdings profits 'moderated' at $5.6ms
Colina Holdings profits 'moderated' at $5.6ms BISX-listed Colina Holdings (Bahamas) last night said it achieved "moderated" net income of $5.6 million for its 2011 financial year, as its performance was impacted by the slow economy and cut in the Bahamia
IDB: Bahamas needs $560m 'adjustment'
The Bahamas needs a $560 million "adjustment" at present growth rates just to cut its debt-to-GDP ratio to 60 per cent by 2021, amid warnings this nation now lies on the fiscal "dark side".
VAT readiness: PM warned that 'Clock ticking'
Prime Minister Perry Christie has been warned that “the clock is ticking” on the private sector’s Value-Added Tax (VAT) readiness, a Tax Coalition co-chair yesterday calling for the revised legislation and regulations to be published “as soon as possible”.
Baha Mar casino hotel at '20 storeys' by year-end
By NEIL HARTNELL Tribune Business Editor The casino hotel for the $2.6 billion Baha Mar project could "be as high as 20 storeys" by year-end, Tribune Business was told yesterday, with work on the core "superstructure" 50 per cent complete by that point.
Govt told: ‘Stop bragging’ about $852m VAT funds
The Opposition’s finance spokesman yesterday urged the Government to “stop bragging” about its $852 million VAT revenues, as this represented monies sucked away from Bahamian consumers and businesses.
IDB: Baha Mar to up jobless rate 2%
The Bahamas’ unemployment rate will jump by as much as two percentage points due to the 2,000 Baha Mar lay-offs, the Inter-American Development Bank (IDB) is predicting, virtually eliminating the May 2015 decrease.
BTC profits slump 26.4%
The Bahamas Telecommunications Company (BTC) suffered a 26.4 per cent profits slump for the year to end-March 2015, as its revenues and staffing levels came under pressure in the run-up to mobile liberalisation.
SPEED WEEK CHIEF EYES 2,500-3,000 EXTRA ROOM NIGHTS
By NEIL HARTNELL Tribune Business Editor Bahamas Speed Week's president has estimated that the revival event generated between 2,500-3,000 room nights for the Bahamian hotel industry, describing its economic impact as "quite substantial". While Bahamas S
RoyalFidelity predicts ‘double digit millions’ for new fund
RoyalFidelity believes its latest mutual fund will attract “double digit millions” from Bahamian investors through its promise to pay them a 4 per cent annual dividend.
CLICO liquidator saves $670,000 from IRS clutches
CLICO liquidator saves $670,000 from IRS clutches By NEIL HARTNELL Tribune Business Editor CLICO (Bahamas) liquidator has freed up "significant cash" worth some $670,000 by negotiating a settlement of the US Internal Revenue Service's (IRS) tax claim ag
Investor group eyeing $20-$30m water sales
Investor group eyeing $20-$30m water sales By NEIL HARTNELL Tribune Business Editor The investor group that acquired the former Bacardi plant believes its ECH2O bottled water brand can generate $20-$30 million in annual sales in five to six years time,
Gov’t told: Don’t adjust tariffs at ‘last minute’
The Government was yesterday warned it has one month to inform auto dealers about whether the industry’s Excise Tax rates will be lowered to compensate for Value-Added Tax (VAT), otherwise it may see revenue generated by the sector drop-off in the New Year.
BFSB makes Landfall in Miami and Europe
BFSB makes Landfall in Miami and Europe The Bahamas Financial Services Board's (BFSB) main promotional event is set to make Landfall in Europe and Miami in June, as it seeks to educate intermediaries and their high net worth clients on what this jurisdi
Commission names new top regulator
The Securities Commission has named Dave Shannon Smith as its executive director with effect from March 1, 2012. He takes over the post from Commission chairman, Philip Stubbs, who has held it since the departure of former executive director, Hillary Dev
The art of leadership
The art of leadership By Ian Ferguson As we prepare ourselves as a nation to select our political leaders for another term in office, the Chamber Voice begins a series on Leadership. Leadership is probably best defined as the ability a person has to bui
The art of leadership
The art of leadership By Ian Ferguson As we prepare ourselves as a nation to select our political leaders for another term in office, the Chamber Voice begins a series on Leadership. Leadership is probably best defined as the ability a person has to bui
The art of leadership
The art of leadership By Ian Ferguson As we prepare ourselves as a nation to select our political leaders for another term in office, the Chamber Voice begins a series on Leadership. Leadership is probably best defined as the ability a person has to bui
Bahamas’ debt to ‘stabilise’ near 70%
The Bahamas’ debt-to-GDP ratio is expected to hover near the IMF”s 70 per cent ‘danger threshold’ in 2016, although an international credit rating agency believes it has “stabilised”.
Sky Bahamas chiefs deny share allegation
SKY Bahamas' principals yesterday told Tribune Business they completely "deny" allegations by a former executive of the airline that they conspired to squeeze him out of his equity stake in the company, and recorded incorrect shareholdings in the Companies Registry.
