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The Bahamas Financial Services Board (BFSB) has selected wealth management, the investment funds industry and the insurance sector as the focus of its 2013 marketing strategies.
By NEIL HARTNELL
Albany’s developers yesterday said there was a “possibility” its high-end Marina Residences could be sold-out by summer 2013, telling Tribune Business this could trigger further expansion after achieving $400 million in real estate sales to-date.
A former Bahamas Electricity Corporation (BEC) director yesterday blasted the first Christie administration for the basic tariff reduction that caused “$100 million of equity to pour out” of the utility, arguing that it had never recovered from this.
The Bahamas Electricity Corporation (BEC) “crisis” is driving entrepreneurs out of business, a leading private sector official warned yesterday, adding that the nationwide electricity bill for his company totalled $600,000 per annum.
The US government has urged the Bahamas to beef up its anti-money laundering safeguards ahead of this year’s impending expansion of casino and web shop gaming, describing the latter as an “illicit” industry that “flourishes” in this nation.
SUN ‘n Fun executives expect 30-35 persons to participate in a group fly-out to Grand Bahama and Marsh Harbour, Abaco this May. Top executives at Sun ‘n Fun in Lakeland, Florida, are advertising and promoting the Fly-Out to Grand Bahama and Marsh Harbour, scheduled to be held May 23-27 on the landing page of the Sun ‘n Fun website.
THE Bahamas Telecommunications Company (BTC) plans to expand its retail footprint with a projected 24-month roll-out of 12-15 franchise stores on New Providence, and 25 in the Family Islands.
The BAHAMAS Commercial Fishers Alliance (BCFA) has expressed “extreme disappointment” that the organisation has not been brought up to-date on several recent oil spills.
Cable Bahamas has unveiled its state-of-the-art Grand Bahama data centre, which is designed to provide commercial clients with histing and business continuity/disaster recovery services.
I read on CNN the other day that some people are texting in their sleep.
THE Bahamas Telecommunications Company (BTC) reported yesterday that its services in Bullocks Harbour Islands had been fully restarted, nine days after a an external contractor accidentally caused the collapse of a communication tower.
THE Bahamas Electricity Corporation’s (BEC) executive chairman yesterday revealed the utility monopoly suffered a $12.7 million first quarter loss, telling Parliament this placed it on track to lose $40-$50 million in its 2013 financial year.
Around 200 full-time jobs will be created when the final stage of Lynden Pindling International Airport’s (LPIA) redevelopment is completed in November, Tribune Business was told yesterday, with tenders for the retail concessions already out to bid.
The Nassau Airport Development Company’s (NAD) decision to increase staff levels by 50 workers has paid dividends by driving the airport’s customer satisfaction scores to their highest-ever level, its new chief executive said yesterday.
Scotiabank (Bahamas) is expecting a “flat to lower” net income performance for 2013, its managing director yesterday revealing that new loan volumes dropped 7 per cent year-over-year for 2012.
The Government’s recurrent account “imbalance” grew by a sum equivalent to 1.7 per cent of GDP during the former Ingraham administration’s term in office, the minister of state for finance said yesterday.
FINANCIAL Services Minister, Ryan Pinder, told Parliament yesterday his ministry is preparing to launch a new strategy to position the Bahamas for captive and international insurance business, while adding that the investment fund sector has been identified as having growth potential.
BAHAMAS Electricity Corporation (BEC) customers could soon be facing a tariff increase, a former Cabinet minister warned yesterday, telling this newspaper that they would inevitably be burdened with bringing the Corporation out of its financial “tailspin”.
The Bahamian Contractors Association (BCA) yesterday said it wants to change the Board that will regulate the sector to one that has a majority of industry, as opposed to government, appointees in a bid to eliminate any possibility of political interference.
THE Government is looking to increase property tax revenues to 2 per cent of gross domestic product (GDP) by 2016/2017, the minister of state for finance sad yesterday.
Atlantis is eyeing an “exceptional” March with “across the board” occupancies in the low-mid 80 per cent ranges, its senior executive telling Tribune Business the resort had beaten early 2012 comparatives and was hitting this year’s performance targets.
A leading developer has seen more sales inquiries during the initial months of 2013 than “in the last two years”, with the Bahamian real estate industry “anticipating” the Government will reduce all Stamp Duty rates to pre-2010 levels come the May Budget.
A leading QC has urged the Government to attach a team of law writers to the Ministry of Financial Services, arguing that this would help the Bahamas reform “a whole basket of laws” before the deadline to comply with the US Foreign Account Tax Compliance Act (FATCA) hits.
RUBIS executives say the company is actively addressing an underground gas leak at its Robinson Road station as part of a wider “clean-up” exercise stemming from its acquisition of the Bahamas’ Texaco business last year.