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Realtor in property management division
Mario CareyRealty has announced the launch of its property management division, headed by a multi-lingual property management specialist and staffed by a veteran professional with 15 years’ experience in the US, Europe and South America.
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.
35% profit fall spells no dividend at Property Fund
THE Bahamas Property Fund’s directors have decided not to pay its scheduled $0.20 per share dividend for the 2012 second half, after profits for the first six months slumped 34.7 per cent due to continuing high vacancy rates at its two main properties.
FamGuard to make agent acquisition
FamGuard Corporation’s insurance agency subsidiary is expanding via the acquisition of a rival Nassau-based agent, Tribune Business has been told, with the BISX-listed insurer shrugging off a sharp 64.8 per cent annuity decline to post a slight half-year profit increase.
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.
Bahamas waste 'off 26%' despite profits tripling
Despite almost tripling its 2012 half-year profits Bahamas Waste yesterday said its bottom line came in 26 per cent below projections, with the second half outlook clouded by a 40 per cent reduction in its government residential garbage collection rates.
Executive entity can be Bahamas 'second most-used product'
A Nassau-headquartered provider that supervises $1.5 billion in client assets yesterday expressed optimism that Executives Entities could become “the second most used product” from the Bahamian financial services menu, having already beaten its own pre-Christmas expectations.
$100M Gov't bond 'oversubscribed'
The Central Bank of the Bahamas’ governor last night confirmed that the Government’s latest $100 million bond issue was “oversubscribed”, with a portion of the funds raised potentially funding its share of Baha Mar’s infrastructure works.
North Abaco candidates show assets in declarations
THE official declaration of candidate assets and liabilities revealed quite a range between the three North Abaco by-election hopefuls in terms of financial standing.
‘The hottest place in the Out Islands’
Developers behind Abaco’s Schooner Bay community yesterday expressed confidence it would become “the hottest place to be in the Out Islands” within five years, telling Tribune Business all infrastructure/utilities work would be completed by December 2012.
S&P goes ‘negative’ on Bahamas as debt ratio rises 11% pts
Wall Street last night forecast that the Bahamas’ net government debt would hit 45-47 per cent of GDP by 2013-2014, a double digit rise in three years, as one rating agency slashed its economic outlook on this nation to ‘negative’.
BFS deal: Require 25% stake sale to Bahamian investors
THE Government must ensure a minimum 25 per cent equity stake in Bahamas Food Services (BFS) is sold to the Bahamian public if it approves the company’s purchase by Sysco, a prominent businessman also warning it to guard against a food wholesale monopoly.
Construction mortgages slump 25% during Q2
A 25 per cent contraction in mortgage disbursements during the 2012 second quarter has further highlighted the weak construction and local real estate market, although the Central Bank of the Bahamas said there were signs of a modest uptick.
Leslie Miller vows to reduce energy costs
WHILE THE West desperately searches for ways to reduce its fuel cost and thus its reliance on Middle East oil, it seems that despite its efforts, OPEC members plan to have the last laugh.
Rival wholesalers to ‘strive and survive’ despite Sysco/BFS deal
RIVAL BAHAMIAN wholesalers can survive competition from US distribution giant Sysco, one local wholesaler/retailer telling Tribune Business: “There’s room for everybody.”
$10 million Fidelity Flagship fund sees redemptions 'slow down considerably'
RoyalFidelity’s flagship $10 million mutual fund has seen redemption requests “slow down considerably” in recent months, a senior executive yesterday telling Tribune Business there were numerous ongoing projects that would see “the rubber hit the road” on equities market recovery.
PM facing 'judgement call' over BFS sale
PRIME Minister Perry Christie yesterday said the Government was not close to making a final decision on the potential acquisition of Bahamas Food Services (BFS) by the multi-billion dollar US food distribution giant, Sysco, telling Tribune Business his administratio was having detailed discussions with rival Bahamian wholesalers on the deal’s likely impact.
Aircraft registry committee to be formed this month
A joint private-public sector committee is due to be formed by end-September to pursue the development of a Bahamian aircraft registry, the attorney spearheading the project yesterday saying its creation would “open the doors to the realms of all possibilities”.
Tax and poverty in the Bahamas
TOUGH CALL: THE current debate over more and different taxes to pay for an expanding public sector has focused fresh attention on our economy and standard of living.
Rival wholesalers fear price ‘undercut’ from BFS/Sysco deal
Bahamian-owned food wholesalers would inevitably be “undercut” on price if Bahamas Food Services (BFS) were to be acquired by the multi-billion dollar Texas giant, Sysco, one warning yesterday that he could not see the deal getting government approval without Bahamian participation.
