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Insurer eyes expansion into ‘big boys’ territory’

A Bahamian insurer yesterday said it will decide within the next five years whether “to venture into big boys’ territory” via US expansion, saying: “We cannot rest on our laurels.”

Bahamasair's 'unpleasant' year despite 7.4% loss cut

By NEIL HARTNELL

Fidelity ‘overwhelmed’ via 75% fund growth

RoyalFidelity Merchant Bank & Trust yesterday said it had seen “overwhelming” 75 per cent growth in its fixed income mutual fund for 2012 to-date, adding that it was “having a hard time” keeping up with the pace of new subscriptions.

Concern over S&P rating

THERE is “at least a one in three chance” that Standard & Poor’s (S&P) will downgrade the Bahamas’ sovereign credit rating within the next 24 months, with Wall Street ruling tax reform out as a major difference maker in the short-term.

Bahamas faces 'one in three chance' of downgrade in two years

THERE is “at least a one in three chance” that Standard & Poor’s (S&P) will downgrade the Bahamas’ sovereign credit rating within the next 24 months, with Wall Street ruling tax reform out as a major difference maker in the short-term.

Arawak Port 'right in line' via 31,000 volume

Arawak Port Development Company’s (APD) potential $45 million private placement is unlikely to take place until the New Year, Tribune Business was told yesterday, with the 31,000 twenty-foot equipment units (TEUs) handled since April putting its container volumes ahead of projections.

G-20 tax intent a 'serious threat' to financial sector

THE continued G-20/OECD push towards the automatic exchange of tax information poses "a serious threat" to the Bahamian financial services industry, a senior attorney urging this nation to "get ahead of the curve" in responding to their demands

Customs inefficiency costing Gov't $66m

The Government is losing $66 million in revenues annually due to inefficiencies at Bahamas Customs alone, the situation also placing tourism industry profitability and foreign direct investment (FDI) inflows “at risk”.

Kerzner gains 2-3% fees for Atlantis and Ocean Club

KERZNER International is earning base management fees equivalent to 2 per cent and 3 per cent of gross revenues generated, respectively, by the Atlantis and One & Only Ocean Club under the terms of its $2.5 billion debt restructuring, Tribune Business can reveal.

Realtor encourages 'moratorium' over 2% commercial tax

A LEADING realtor yesterday encouraged the Government to further stimulate the Bahamian real estate market through initiatives such as a "three-year moratorium" on commercial real property tax, and "incentivising" the development of vacant Family Island land.

Baha Mar plant eyes $13m from local investors

THE developer of Baha Mar's proposed renewable energy plant is seeking to part-finance the project through raising $13 million in capital from Bahamian investors via a preference share issue, Tribune Business can reveal.

Minority investors 'clearly abused' in absence of Takeover Code

Leading institutional investors and brokers have backed plans to implement a Takeover Code as “absolutely essential” to orderly Bahamian capital markets, its absence having led to situations where minority investors were “clearly abused”.

Taxing times require some serious reform

After years of desultory chat about a new tax structure, the Symposium on Tax Reform, scheduled for October 25-26 at the College of the Bahamas, may actually propel us towards a specific programme of change.

'Remarkable change' inlatin views of Bahamas

A Bahamian financial services provider yesterday said he had seen a “remarkable” turnaround in Latin American client perceptions of this nation, adding that “there’s never been a bigger opportunity” to attract new private banking/financial services business.

Roderick A. Simms: Multiple measures must be used for NIB reform

The National Insurance Board (NIB) is the government agency responsible for managing the country’s social security system. The NIB provides various social security benefits, including pensions, disability benefits, maternity benefits, funeral benefits and unemployment benefits.

'Not out of the woods' despite consecutive Budget surpluses

The Government cannot interpret two consecutive monthly Budget surpluses "as a sign we are out of the woods", its top finance official warned last night.

‘Credibility problem’ over deficit revision

The Opposition yesterday charged that the Prime Minister has “a very big credibility problem” after he gave conflicting reasons for revising the fiscal deficit downwards just a week after unveiling the mid-year Budget.

City Markets chief hoping deal 'imminent'

CITY Markets' principal believes the acquisition of the struggling five-store supermarket chain by Super Value's owner and president, Rupert Roberts, is "imminent", telling Tribune Business: "He's a very serious man, and he's very serious about this deal."

Cable Bahamas says: 'Expect great things'

Cable Bahamas says: 'Expect great things' By NEIL HARTNELL Tribune Business Editor Cable Bahamas yesterday warned Bahamians to "expect great things" in 2012, as it targets "significant upside" from its newly-launched fixed-line voice services that alrea

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

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