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Baha Mar: Contractor action ‘disrupts’ talks
Baha Mar yesterday slammed its contractor for trying to “undermine and disrupt” negotiations to settle their dispute by seeking a speedy hearing of its bid to ‘freeze’ all Chapter 11-related actions.
Sarkis: ‘Impossible’ to run Baha Mar through liquidator
Sarkis Izmirlian has warned the Government that its plan to appoint a provisional liquidator will “make it impossible” to immediately open and operate a completed Baha Mar, since it will jeopardise key hotel and retail/restaurant tenant relationships.
Kingdor National Parkinson Foundation making moves in the Bahamas
AS with any other non-profit organisation, the Kingdor National Parkinson Foundation relies heavily on the generosity of others. To thanks its sponsors as well to continue to raise awareness of Parkinson’s disease, the foundation recently hosted a meet and greet.
Bank asset returns decline below 1%
Bahamian commercial banks have seen their collective return on assets slump below 1 per cent due to the ‘bad loan’ crisis, which has seen them turn increasingly to Government bond investments.
Gov’ts $100m homes scheme slammed as ‘fiscal schizophrenia’
The Government’s plan to finance the construction of 1,000 new homes through a $100 million Bahamas Mortgage Corporation (BMC) bond issue was yesterday described as “fiscal schizophrenia” by its immediate past chairman.
Farewell to the man who kept the lights on
ABACO’s lighthouse “lifeline” Everette Roberts died last weekend after a long battle with illness.
Web shop chief backs delay in licence bid deadline
THE head of the country’s largest web shop chain has confirmed that the government’s decision to extend the deadline for web shops to submit their bids for licences was due to a “discrepancy on the back taxes and the interpretation of what turnover is”.
PM slams VAT ‘doomsday prophets and pundits’
Prime Minister Perry Christie yesterday slammed the “doomsday prophets and pundits” over Value-Added Tax (VAT), lauding its implementation as “remarkably smooth” and suggesting it would serve as a model for reforming other existing taxes.
S&P ‘closely monitoring’ Bank of Bahamas situation
Standard & Poor’s (S&P) says it is still “closely monitoring” the $100 million Bank of the Bahamas ‘bailout’ to ensure this is an isolated event, describing the situation as a “downside risk” for this nation.
An odd start on the track, field
Sarah Hepburn, Megan Moss, Doneisha Anderson, Charisma Taylor, Alexis Gray and Otto Laing were double winners of events as the Bahamas Association of Athletic Associations kicked off its 2015 season with the Odd Distance Track Classic at the Thomas A Robinson Stadium on Saturday.
Automatic tax exchange 'fundamentally flawed'
A Cabinet Minister yesterday said current proposals for the global automatic exchange of tax information are “fundamentally flawed”, and would impose “impossible obligations” on the Bahamas.
US billionaire in Walker’s Cay talks
The Government is hoping that Walker’s Cay will return to its “boater’s paradise heyday” if its purchase by a US real estate billionaire successfully closes.
Gov’t pushing MSC, Hutchison on MoU
The Government is pushing for Mediterranean Shipping Company (MSC) and Hutchison Whampoa to sign a Memorandum of Understanding (MoU) this week, which some observers believe deals with the Grand Bahama Port Authority’s (GBPA) acquisition.
Collie predicted to win race for FNM chairman
FORMER Deputy Prime Minister Frank Watson yesterday forecast that former MP Sidney Collie would emerge as the new chairman of the Free National Movement.
Rejection of NHI model ‘curious’ says secretariat
THE recent rejection of the proposed National Health Insurance model by industry stakeholders is “curious” considering the government had consultations and “fruitful discussions” with them about the scheme, NHI Secretariat Permanent Secretary Peter Deveaux-Isaacs said yesterday.
Baha Mar: Bahamian creditors owed $170m
The continuing uncertainty surrounding the $3.5 billion Baha Mar project is “jeopardising the Bahamas’ fragile growth prospects”, Standard & Poor’s (S&P) believes, with local companies owed a collective $170 million.
INSIGHT: The truth about the Baha Mar payouts
In debating the pending Baha Mar payouts, let’s recognise one good thing amidst the surrounding sea of errors and deception: former Baha Mar employees (about 2,000 of them) will soon be paid what is owed to them.
Southern Bahamas islands warned weather system will bring flooding
TRANSPORT and Aviation Minister Glenys Hanna Martin has urged residents living in areas affected by Hurricane Joaquin last year to pay attention to weather warnings, as severe flooding is expected in those islands from Thursday morning.
Cable shareholders suffer $14.37m loss over US writedown
Cable Bahamas shareholders suffered a collective $14.371 million net loss for 2015, driven by a one-off $20.5 million accounting ‘write down’ associated with its US operations.
Primary School Track and Field Championships start next week
THE TOP primary school track and field athletes in the country will have an opportunity to showcase their skills and compete for a national championship next week.
