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Multi-million bidding war erupts for Hilton

A bidding war has erupted for downtown Nassau’s British Colonial Hilton resort, with at least two rival groups - one said to have Bahamian involvement - emerging to challenge the $74 million offer submitted by a multi-billion New York asset manager.

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$102m plant's timetable missforces Baha Mar to 'Plan b'

Plans to reduce Baha Mar’s air conditioning-related energy demand by 90 per cent have been thrown into severe jeopardy, the $2.6 billion resort developer yesterday confirming it had moved “on to Plan B” after a renewable energy firm failed to meet agreed timelines.

Briland hotelier: ‘Will bubble pop?’

A prominent Briland hotelier yesterday said tourism operators “don’t know whether a bubble is going to pop” with resorts continuing to enjoy “unheard of” bookings for the summer months.

Gov’t told: ‘Nationalise’ Port Authority shares

An outspoken QC has urged the Government to speedily “nationalise” the Grand Bahama Port Authority (GBPA), arguing: ‘We’re dealing with a $100 billion, not $3.5 billion, investment here.”

Bahamas cannot let crime ‘tarnish brand’

Atlantis’s top executive yesterday warned that the Bahamas could not afford “anything that tarnishes the brand”, conceding that the US government’s latest crime report “certainly doesn’t help” the tourism industry.

First VAT returns: ‘Much comfort’ on $300m goal

The first-ever Value-Added Tax (VAT) returns have given the Government “a lot of comfort” that it will generate the forecast $300 million in annual revenues, Tribune Business has been told.

IMF: Deficit will be $100m above forecast

The International Monetary Fund (IMF) has warned the Government that its fiscal consolidation projections are “too optimistic”, and that the deficit for the just-closed 2015-2016 year will be around $100 million higher than forecast.

Freeport hotelier backs Gov’ts push for change

A hotel operator has backed the Government’s Grand Bahama Port Authority (GBPA) stance as evidence of its “commitment to Freeport”, and asked: “When was the last time the Port Authority did a major investment?”

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Bahamas ‘can’t sit on laurels’ over digital assets regulation

The Securities Commission’s top executive has warned that The Bahamas “cannot sit on our laurels” as she disclosed that further reforms to tighten digital assets regulation will be unveiled “in the next few months”.

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Water staff fear more heads to roll

THE termination of Glen Laville from the post of general manager of the Water and Sewerage Corporation could be the “tip of the iceberg,” insiders told The Tribune yesterday, adding there are fears others may be fired in the aftermath of Ernst and Young’s audit of the water provider.

Abaco resorts: 'We must know what we're facing'

Abaco resorts yesterday called for more clarity around the COVID-19 travel protocols as they seek to rebound from the combined devastation of Hurricane Dorian and the global pandemic.

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Port chief: Nassau won't see cruise ships till 2021

The cruise lines will resume calling on The Bahamas' major ports in the 2021 first quarter, Nassau Cruise Port's top executive predicted yesterday, while warning: "We won't see anything in 2020."

Unlicensed dealers seize 40% auto market share

The Government was yesterday urged to crack down on “out of control” roadside auto vendors, a leading dealer estimating they now accounted for 40 per cent of the total market.

Dingman comes to Bay Street

An investor group headed by Jamie Dingman has leased 25 per cent of the units in a major Bay Street shopping plaza, Tribune Business can reveal, with plans to create a restaurant destination unmatched “except for Marina Village”.

Low cost carrier adds 55,00 seats

A ‘low cost’ US airline will bring almost 55,000 seats into the Nassau market annually once it launches service by July 1, its officers yesterday describing this nation as “the jewel in the Caribbean”.

Dive guru 'devastated' over threat to Bimini

A world-renowned dive guru yesterday said he was personally “devastated” by the potential damage Resorts World’s cruise terminal will inflict on the diving and fishing industries, which generate 90 per cent of Bimini’s hotel occupancies and “millions” for its economy.

Bimini developer in 90% occupancy goal

BIMINI Bay's principal expects to see occupancy levels at the multi-million dollar resort and marina reach 85-90 per cent through the addition of its $24 million luxury boutique casino and the imminent Balearia ferry service, telling Tribune Business: "We have survived."

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Exchange rate was 'never in jeopardy'

The Bahamas’ $838 million foreign currency reserves “are in line” with both their internationally-recognised adequacy benchmarks, the Central Bank of the Bahamas governor yesterday saying the one:one US dollar peg was “never in jeopardy” over the past decade.

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McCuin and Rebels win NCAA season opener

The 2019-20 NCAA Division I basketball season tipped off Tuesday night and Bahamians were figured prominently for their respective programmes both on the sidelines and on the floor in various conferences across the United States.

LATEST HURRICANE JOAQUIN ALERT FROM BAHAMAS DEPARTMENT OF METEOROLOGY

ALERT #9 ON HURRICANE JOAQUIN ISSUED BY THE BAHAMAS DEPARTMENT OF METEOROLOGY THURSDAY 1ST OCTOBER, 2015 AT 3AM EDT.