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A world-renowned dive guru yesterday said the Bahamas was sacrificing “quality for quantity” with its tourism development policies for Bimini, adding that he was “heartbroken” the Court of Appeal had failed to halt Resorts World’s dredging.
The Government has moved to restructure tourism management as the country bids to increase its market share by 4-5 per cent.
The Deep Water Cay (DWC) resort has helped to showcase the Bahamas to the world after being featured on Fox Sun Sports Network last weekend via ScubaNation, reaching five million households.
Bahamas Insurance Association (BIA) executives have met with Michael Halkitis, minister of state for finance, and his officials to discuss key industry concerns.
A key Cabinet minister said yesterday that while security services was an area primarily reserved for Bahamians, the Government has seldom raised objections to Bahamians joint venturing with foreign firms to improve their offering.
The popular Hooters International Calendar, which sells nearly 500,000 copies annually, will feature the historic Big Game Club Resort and Marina and the beauty of Bimini as part of its 2015 edition.
More than 150 students will next week participate in the first graduation exercise for Baha Mar’s Leadership Development Institute (LDI), a non-profit training organisation supported by the resort developer.
A top US real estate/infrastructure investment firm with $14.7 billion in assets under management has been revealed as one of the groups exploring the potential purchase of the former Ginn project in Grand Bahama’s West End.
CIBC FirstCaribbean’s capital market-record $174 million net loss is unlikely to be repeated and represents the final stage in a “three-phase approach to revive our business”, its Bahamian managing director told Tribune Business.
RoyalStar Assurance is aiming to leverage its $44 million net equity and “become one of the premier players in the Caribbean” within the next five years, its managing director saying: “We want to be the hunter, not the prey.”
CIBC FirstCaribbean’s $174 million net loss is a warning signal to Bahamian trade unions not to make unrealistic demands or engage in the threatened three-day national strike, a leading businessman believes.
A leading investment house has doubled the number of brokerage accounts it opens monthly, its president likening increased capital market interest to “a snowball rolling down a hill”.
It is often stated by foreign attorneys, and recently by some Bahamian attorneys, that the Bahamas suffers from not opening its doors to foreign law firms in an increasingly interconnected and global world.
THE Bahamas Financial Services Union (BFSU) does not foresee any redundancies at CIBC FirstCaribbean International Bank (Bahamas) before September 30, its president expressing concern over the outsourcing of decision-making authority in the commercial banking industry.
Colina Holdings (Bahamas) yesterday said a strong 2014 first quarter had generated a 27.2 per cent increase in net income attributable to ordinary shareholders, with total assets growing $14.8 million in three months.
BAHAMIAN employers who do not offer staff company-sponsored pension plans are ultimately “hurting their own bottom-line”, a world-renowned personal finance expert has warned.
Fidelity Bank (Bahamas) shrugged off a “tripling” of its licence fees to post a 46 per cent year-over-year comprehensive income increase for the 2014 first quarter, and enjoy “a big boost” in its return on equity.
Cable Bahamas’s financial adviser yesterday expressed “disappointment” that institutional asset managers had failed to deliver on indications they would place between $10-$18 million US dollars into the company’s private placement, having invested a paltry $100,000 to-date.
The Tax Coalition’s co-chairs yesterday warned that fiscal constraints meant it was an inappropriate time to consider building a new Parliament, and said: “We’ve got bigger fish to fry.”
BAHAMAS Customs said yesterday it will start to phase-out the manual submission of importer and broker documents as of June 1, its Comptroller adding that it hoped to implement electronic duty payments by year-end.
More than 100 Abaconians attended China Harbour Engineering Company’s (CHEC) Tuesday job fair that sought recruits to work on the construction of North Abaco’s $39 million port.
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BAHA Mar has hosted Tez Tour, one of Russia’s leading tourist companies, at its Royal Blue Golf Clubhouse.
Grand Bahama’s East End should be “promoted as a green economy” rather than an aragonite mining centre, a top QC yesterday arguing that this would “sustain an historic way of life”.
MINISTER of State for Finance Michael Halkitis said yesterday that the government initiated Value Added Tax (VAT) report was consistent with other reports in identifying VAT as second only to real property tax for supporting economic growth.