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PLP mortgage plan 'a ploy'

THE Progressive Liberal Party's 10-point plan to assist struggling homeowners is nothing more than a political ploy, Bahamas Mortgage Corporation chairman Dr Duan

Mitchell hits back at PM on City Markets

PRIME Minister Hubert Ingraham's public condemnation of the PLP for allowing City Markets to be sold a second time sparked an irate response from Fox Hill MP Fred Mitchell yesterday.

Parties pledge to tackle foreclosures

By CELESTE NIXON Tribune Staff Reporter cnixon@tribunemedia.net ALL three political parties have pledged to address the worrying rate of home foreclosures over the past several years. Over the weekend Progressive L

BAHAMAS FIRST CHIEF: BISXLISTING 'PROBABLE' IN 2012

By NEIL HARTNELL Tribune Business Editor Bahamas First Holdings' chief executive yesterday told Tribune Business he personally believed the general insurance holding company would list on the Bahamas International Securities Exchange (BISX) in 2012 "if i

PM vow to city markets staff

PRIME Minister Hubert Ingraham has promised City Markets workers the government will ensure they are treated fairly. On Friday, the owners of the supermarket chain confirmed they were in talks with Super Value about the possibility of selling the remaining five stores to their biggest competitor.

Bank warns on provisions rise

BANK of the Bahamas International has warned investors it may have to increase loan loss provisions further during its financial year's second half, its managing director telling Tribune Business it was "grappling" with the inability to rapidly sell distressed real estate assets.

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 pressured by 18.5% cost rise

Cable Bahamas last night unveiled a 2.5 per cent net income increase for 2011 to $20.483 million, as it warned that rising costs continued to "challenge" its financial performance. Unveiling an improvement upon its 2010 bottom line of $19.991 million, the

City Markets name 'should have died'

THE City Markets name was what ultimately caused the struggling supermarket chain to fail to recover, a rival food retailer believes, telling Tribune Business that the Finlayson family "should have let the name die" when they acquired the 78 per cent majority stake back in 2010.

Lawyer E Dawson Roberts dies age 85

PROMINENT Bahamian lawyer E Dawson Roberts died at 11am yesterday at his Eastern Road home. He was 85. Mr Roberts was a direct descendant of Loyalist Wyannie Malone, who founded Hope Town, Abaco, in 1783 after moving from Charleston, South Carolina.

City Markets job fear

TENSIONS remain high as 400 City Market employees are still unsure about the future of their jobs. According to Rosalie McKenzie, Bahamas Commercial Stores, Supermarkets and Warehouse Workers Union (BCSWWU) administrator, as talk persists of the impending closure of City Market's four remaining stores, employees are worried they will be left without compensation - especially as some of them have not been paid for three weeks.

Colina General had $2m asset deficiency

COLINA General Insurance Agency had an almost-$2 million balance sheet solvency deficiency when it was acquired by its sister company, BISX-listed Colina Holdings (Bahamas), in early December 2011 for just $1, Tribune Business can reveal.

Where are the sidewalks?

KEMP ROAD is a main thoroughfare that stretches from Shirley Street to Wulff Road. It is comprised of a diverse group of people and many children reside on this road and the accompanying side streets.

Probe by Bannister good for the Bahamas

FREE National Movement (FNM) candidate for North Andros and the Berry Islands, Desmond Bannister initiated a probe into illegal voter registration in this constituency. Reports indicated that at least 30 voters were being challenged in a court of law.

Answers soughton City Markets

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net The trade union representing City Markets' line staff is urgently seeking clarification from the Finlayson family over claims that the embattled fiv

Union: City Markets behind over payroll

Union: City Markets behind over payroll By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE union representing City Markets workers has said it would welcome the sale of the struggling food store chain if it meant saving jobs, o

Bahamasair eyes 'break even' despite $21m loss

Bahamasair eyes 'break even' despite $21m loss By NEIL HARTNELL Tribune Business Editor Despite being on target for a $21 million loss in its 2011-2012 financial year, Bahamasair's chairman says the airline is trending in the right direction and eventua

FINCO in profit boost as bad loans hit $100m

FINCO in profit boost as bad loans hit $100m By NEIL HARTNELL Tribune Business Editor The $5.4 million boost from changes to its loan loss provisioning calculation enabled Finance Corporation of the Bahamas (FINCO) to enjoy a 3.18 per cent net income in

GDP boost from raising Bahamas' 60% net access

GDP boost from raising Bahamas' 60% Net access By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net LESS than 60 per cent of Bahamian homes have Internet access, the Bahamas Telecommunications Company's (BTC) chief executive has said

PM urges five more years

ANOTHER five years in office for the Free National Movement would mean further social, economic and infrastructural advancements, Prime Minister Hubert Ingraham said. Revealing the party's Manifesto 2012-2017 pl

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