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NEARLY 1,300 international participants have registered to-date for Marathon Bahamas, its organisers now projecting that the 2014 event will generate just under $2 million in visitor spend.
The five remaining Bahamas Electricity Corporation (BEC) bidders have until end-January to provide “final submissions” and answer all remaining questions the Government’s advisers have.
The Bahamas Financial Services Board’s (BFSB) upcoming International Business and Finance Summit (IBFS) will examine how cultural and family changes impact service providers and financial structuring.
By NATARIO McKENZIE
The Prime Minister has declared 2014 as the ‘Year of Culture’ to coincide with the Ministry of Tourism’s 50th anniversary.
PALM Cay, the $200 million eastern New Providence gated community and marina, has been awarded the first ever Bahamian Contractors Association’s (BCA)’Developer of the Year’ award.
A prominent businessman yesterday urged the Bahamian private sector not to create a “self-fulfilling prophecy of doom and gloom”, and said: “2014 will be what we make it.”
A former minister yesterday slammed a report blaming changes to the Blue Hills water plant contract for an increase in ‘red water’ as “a frivolous excuse” for the current government’s failure to address the real problem.
The Government must “rein in” spending to achieve its fiscal consolidation targets, a Wall Street rating agency warning that Value-Added Tax (VAT) and other revenue reforms would not be enough by themselves.
The Bahamas has prevented its $147 million export business to Canada suffering a “catastrophic” loss of competitiveness, reaching an ‘agreement in principle’ to preserve duty-free market access until a new regional trade agreement is concluded.
Revenues from the private aviation sector will continue to decline at an “accelerated pace” if the Government does not roll-back “wrong headed fees” on the sector, an industry expert warned yesterday, calling on it to offer more incentives instead.
SALES of over-the-counter (OTC) cold and flu treatments have been relatively strong for 2013-2014 to-date, pharmacists said yesterday, while adding that the season has not been as bad as in previous years.
By Ian Ferguson
Consolidated Water allegedly gained “significant” financial benefits after a change to its Blue Hills water plant contract, which was agreed by the Water & Sewerage Corporation, allowed it to supply poorer quality water.
Bahamian dealers say they will ultimately have to “wait and see” how they will be affected by the Barbados-based SOL Group’s acquisition of Esso (Bahamas), one retailer telling Tribune Business their contracts were expected to remain the same for the next three years.
Homeowners at the controversy-plagued Oceania Heights project believe they can raise a $2 million-plus ‘war chest’ to finance the development’s infrastructure build-out, with beach access and a fitness centre the leading priorities.
Bank of the Bahamas is “cautiously optimistic” 2014 will herald a turnaround in its financial performance, after a 158 per cent increase in loan loss provisions pushed its ordinary shareholders into a $3.175 million net loss.
TOURISM Minister Obie Wilchcombe said his ministry’s promotional efforts in the Florida market were beginning to pay dividends, telling Tribune Business: “We’re regaining our place in Florida.”
The Utilities Regulation & Competition Authority (URCA) anticipates licensing one new cellular operator in 2014, as it admits that competition has been “somewhat slow” to develop in the Bahamian communications market.
The Bahamas International Securities Exchange (BISX) has added its sixth sponsor member in the shape of Societe Generale Private Banking (Bahamas).
A prominent businessman yesterday warned that “the VAT effect will outweigh the Baha Mar effect” in 2014, adding that next year will “have been a failure” if unemployment remains close to 16 per cent.
The Bahamas Electricity Corporation (BEC) reform process is today a month behind schedule, with some bidders said to be complaining it “lacks transparency” and that they have literally been ‘left in the dark’.
A former Bahamian bank’s creditors have been approved to receive a collective $15.635 million first dividend - a sum that pales in comparison to their collective $335.367 million loss.
Prominent businessman Franklyn Wilson has objected to Cable Bahamas’ charging him ‘late payment’ fees, with the industry regulator agreeing to his demand that such charges be proportionate.
Resorts World has alleged it cannot return to its “original business model” of twice daily cruises to Bimini until April 2014, due to high winter seas and the absence of its controversial terminal/jetty.