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Arawak Port warns of 48% profits fall
Arawak Port Development Company (APD) has effectively delivered a profits warning to shareholders, projecting that net income for its 2016 financial year is likely to fall almost 48 per cent year-over-year.
Port purchaser targeted 2,000 hotel room boost
A Grand Bahama Port Authority (GBPA) purchaser wanted to double the island’s hotel room inventory by 2,000 rooms, and was even interested in negotiating with the Government to privatise Bahamasair.
Wind-up delay gives Baha Mar resolution time
The Attorney General yesterday suggested the three-week delay to Baha Mar’s winding-up hearing was intended to give all parties more time to reach a “hoped for” commercial resolution to the $3.5 billion dispute.
YOUNG MAN'S VIEW: The storm that tore away the pretence of competence
HURRICANE Joaquin has not only made broad swaths of our people homeless refugees within their own country, but the storm is daily exposing the failed planning and incompetency of our government.
Wilson, Scotia eyeing Mexico bad loan JV
Businessman Franklyn Wilson last night declined “to confirm or deny” whether he is in talks with a Mexican company over a joint venture partnership that would acquire, then restructure, delinquent Bahamian mortgage loans.
A ‘Trojan Horse’ for legal liberalisation
The casual reader may be puzzled by the amount of media coverage concerning transforming the Bahamas into an international arbitration centre. Why the pomp and ceremony concerning such a mundane legal area as arbitration? Arbitration is not a game changer, a life saver, or an economic powerhouse for the Bahamas’ financial services industry. In the purest sense, arbitration is a secret trial without judges, little more.
Gov’t urged: ‘Be mindful of law’ on FML licence
The Government was last night urged to be “mindful of its own legislation” after it seemingly rejected protests not to issue a web shop gaming licence to Craig Flowers’ FML Group of Companies.
AML back in line with 2014 via 5% Q3 rise
AML Foods believes the anticipated 5 per cent year-over-year sales increase for its third quarter may bring its top-line back in line with last year’s, with 2015 to-date performance beating budgeted expectations.
Property Fund’s ‘long, hard slog’ on vacancies
The BISX-listed Bahamas Property Fund yesterday said its $12.5 million debt refinancing had boosted annual profits by $200,000, as it a`dmitted filling vacant space at its two flagship properties will be “a long, hard slog”.
Gov’t set to launch $100m BGS bonds
The Government will next week launch the first $100 million Bahamas Government Stock (BGS) offering of its 2015-2016 fiscal year, with the interest yields on offer “slightly lower” than the inaugural programme.
RICHARD COULSON: Foreign lawyers needed to reverse offshore drop
In a recent speech, Hope Strachan, minister of financial services, reported that we block the entry of foreign, specialised lawyers needed to kick-start our financial industry. The Bar Association’s president, Elsworth Johnson, retorted that we let foreigners in whenever needed, and our objective should be to hire more Bahamian lawyers anyway.
Bleeding gums
Do you get bleeding from your gums? Does it happen occasionally? Does it happen daily? Does it happen with pain?
The web shop gaming and banking paradox
As the marketplace continues to ponder the implications of regulating web shop gaming in the Bahamas, the Board of the Grand Bahama Chamber of Commerce (GBCC) joins in the ongoing conversation that is no doubt being held at water coolers, dinner tables and lunch rooms across the archipelago.
McMinns and Williams help Axemen to 2-1 record
TWO games into their inaugural season with the Acadia Axemen of the Canadian Interuniversity Sport (CIS) and Atlantic University Sport (AUS) a pair of Bahamian players took to the field this weekend.
Don’t gamble away the legal profession
Do you consider yourself a gambler? Opening the Bahamian legal system to foreign law firms is just that: A gamble. There is only a small chance (20 per cent, give or take) that opening the legal system to foreign law firms will drastically increase offshore financial services bsiness for the Bahamas.
Who is the governing body for American football in Bahamas?
THE war of words between local football organisations continues with the Commonwealth American Football League (CAFL), the latest to weigh in on the controversy.
Govt collects $150m in new net revenue from VAT
Preliminary results show that, up until June, the government collected $150 million in new net revenue from VAT, State Finance Minister Michael Halkitis said yesterday.
Call for foreign attorneys to practice in the Bahamas
Financial Services Minister Hope Strachan yesterday reiterated the call for international attorneys to be allowed to establish business operations in The Bahamas to facilitate cross border business and arbitral maters, arguing that this would in no way harm the Bahamian legal profession but instead expose local attorneys for employment opportunities abroad.
International arbitration centre plans moving ‘full steam ahead’
Plans towards the establishment of The Bahamas as an international commercial arbitration centre are moving “full steam ahead”, Minister of Financial Services Hope Strachan said yesterday.
Paradise Island Open all set for Ocean Club this weekend
THE Atlantis resort on Paradise Island is proud to present The Paradise Island Open Golf Tournament at the Ocean Club Golf Course on Saturday and Sunday.
