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Gov'ts $300m bond finance demands 'extraordinary'
A leading investment advisor yesterday said he could not “readily recall” the Government ever seeking $300 million in bond financing in such a short times period, as the administration launched its latest $100 million Bahamas Government Registered Stock (BGRS) issue.
Cable Bahamas needs competition
I would like to take some time to address the issue of Cable fees being raised.
BFS purchase by Sysco ‘best thing that can ever happen’
A leading retailer yesterday backed any potential acquisition of Bahamas Food Services (BFS) by the multi-billion dollar Texas-based giant, Sysco, as potentially “the best thing that ever happened to the food services industry in the Bahamas”.
Ex-Robin Hood chief targets $1.75m revival
Robin Hood’s former principal is aiming literally to ‘rise from the ashes’ by re-opening his former Prince Charles Drive store before Christmas 2012, a move he yesterday said would require a $1.75 million investment and create around 170 jobs immediately.
Bahamas still suffering ‘negative’ real growth
The Bahamian economy is still contracting in real terms, a key Ministry of Finance adviser said yesterday, adding that the Government’s Air Fare Credit policy was “unsustainable” and had failed to generate compensating returns.
Chamber chair ‘not disturbed’ by lower consumer borrowing
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman said yesterday he was “not disturbed” by lower levels of consumer borrowing, with June’s $5.6 million expansion in debt consolidation loans showing many were making “last ditch efforts” to restructure their affairs.
Fiscal deficit up 24% to end-May '12
The Government’s fiscal deficit for the first 11 months in its 2011-2012 fiscal year rose 24 per cent year-on-year to $293.8 million, as spending - and the size of government - outpaced a 4.5 per cent improvement in tax revenues.
BFS chief 'unaware' of any purchase deal
BAHAMAS Food Services’ (BFS) top executive has told Tribune Business he is ‘unaware’ of any potential deal to acquire the leading food distributor, despite market talk that a purchase offer was being discussed.
BFS may have a perspective buyer
THE Gladstone Road based food wholesaler Bahamas Food Services (BFS) may have a perspective buyer as some in the business community have suggested, although BFS manager Don Carnine told Tribune Business that he had no knowledge of such developments.
Cable still facing 'shortfall' despite 27% rate increase
Cable Bahamas believes its proposed 27% basic cable TV rate increase is the only way to “safeguard the product’s financial viability”, having predicted that the shortfall below its 10.86 per cent capital return target would “double” for 2011.
Tax justice and what it would mean for the Bahamian economy
IN July, the Observer newspaper in Britain published an exhaustive study by the Tax Justice Network asserting that at least $21 trillion of unreported private financial wealth was hidden in secret tax havens by the global super-rich elite at the end of 2010 – a sum equal to the combined size of the American and Japanese economies.
Gulf Union recovery 'not less' than 45%
Liquidators for Gulf Union Bank (Bahamas) are predicting that depositors/creditors will recover “not less” than 45 per cent of what is owed to them, having reduced its insolvency by $5.836 million over the past 14 years.
Albany: Bahamians to get 95% of 650 new construction jobs
ALBANY’s developers yesterday said its newly-launched Marina Residences would create 650 construction jobs over the next 18-24 months, telling Tribune Business that approximately $370 million in economic activity had been generated from lot sales.
The Bahamas is becoming increasingly unequal
Nellie Day – remember her? She wrote an article claiming that the majority of Bahamians live in shacks made of straw and wood, while a wealthy elite can afford mansions made of concrete, strong enough to withstand a hurricane.
IDB: Road overruns 'exceed expectations'
The size of the $239 million New Providence Road Improvement Project’s cost overruns “exceed usual expectations”, the Inter-American Development Bank (IDB) has admitted, agreeing that Bahamian contractor capacity needs to be assessed when drawing up major infrastructure contracts.
Deputy PM backs Arawak Cay improvements for Speed Week
WITH less than three months to go before the familiar cry of “Gentlemen, start your engines”, Deputy Prime Minister Philip Davis threw government’s support behind Bahamas Speed Week and pledged to accelerate improvements to the site of the prestigious event at Arawak Cay.
Miller: Ex-Robin Hood store 'must open' before Christmas
MARIO’S Bowling and Entertainment Palace chief, Leslie Miller, said that despite earlier setbacks he expects to have the former Robin Hood store open by Christmas, telling Tribune Business: “We have to catch Christmas season.”
Virginia game officials survey snapping turtles
CHARLES CITY, Va. AP — In water to his waist and mud to his calves, Ben Colteaux pulled up a net and found a stinky monster.
FINCO goes 'organic' through 2013 with $98m problem loans
FINCO is relying on existing borrowers to “carry us through” to the end of its 2013 financial year, having suffered a “bit of a spike” in accounts over 90 days past due during the 2012 third quarter.
Bermuda institutions find going in Bahamas tough
The Bahamian subsidiaries of two Bermuda-headquartered financial institutions have found 2012 tough going to-date, due to a mix of losses, redundancy and reduced working hours.
