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The Punch tabloid newspaper is facing a winding-up petition over an alleged $16,581 debt it owes to the sisters of its owner/publisher, court documents have revealed.
The Bahamas Electricity Corporation (BEC) exceeded its overtime budget by between 27-38 per cent during its last three financial years, with almost two-thirds of the 2012 overruns incurred in the Family Islands.
The Prime Minister has authorised the formation of a nine-member Arbitration Council as a first step in developing this nation as a major dispute resolution hub, a Cabinet Minister saying yesterday: “We want to be the arbitration gateway to Latin and North America”.
THE New Providence Development Company (NPDco) has leased out 90 per cent of the retail space in its $30 million Old Fort Bay Town Centre, Tribune Business was told yesterday, as it moves to finalise arrangements for a second anchor tenant.
THE GOVERNMENT is “very confident” that its guaranteed $250 million Bahamas Electricity Corporation (BEC) bond issue will be fully suscribed, a Cabinet Minister said yesterday
THE private sector was yesterday urged to take the lead in “raising the profile” of the Bahamas by better promoting its financial services products.
PANAMA TRADE MISSION: During an official reception, Panama’s vice-minister of foreign trade, Jose Pacheco (centre), welcomes the Minister for Grand Bahama, Dr Michael Darville (left) and Ian Rolle, president, the Grand Bahama Port Authority (right).
Two leading attorneys yesterday said real estate-related legal work in Freeport was down by “more than 90 per cent” compared to pre-recession levels, with an Albany or Baker’s Bay-style development vital to a market turnaround.
Bahamians were yesterday warned by the Privy Council to register their land deals with the Registrar General’s Department “at once”, after it gave the developers at the strife-torn Oceania Heights project something to smile about.
The Government yesterday unveiled a planned $250 million bond to refinance the troubled Bahamas Electricity Corporation (BEC), saying it was “the first step to rehabilitate” its financial position.
ATTORNEYS representing web shop operators yesterday said the Government knew full well what the industry involved, arguing that the licensing of such enterprises would have formed a “legitimate expectation” of their legalisation.
Leading realtors yesterday urged the Government to extend the $500,000 first-time buyer Stamp Duty exemption beyond its current June 30 expiration, warning that its end would cause sales to “flatten out” in the most critical part of the Bahamian market.
It is typical human nature to admire beauty around us. We commonly associate art with a painting or sculpture displayed in a museum or art gallery, but it is everywhere, in many forms, and holds significant value in our lives.
Scotiabank was a sponsor of the recent 13th Annual Caribbean Energy Conference held at Atlantis, Paradise Island.
THE cash-strapped Bahamas Electricity Corporation (BEC) is currently owed $143 million by the Bahamian private sector, its chairman said yesterday, adding that it was sinking further into financial problems.
THE Bahamas Electricity Corporation`s (BEC) excecutive chairman yesterday said it will move to a rostering and scheduling system with effect from February 1 in a bid to reduce its more than $12 million annual overtime bill.
This weekend’s International Business and Financial Summit (IBFS) will address why the Bahamas has been seeing “relatively slow” growth in its captive insurance business, despite its remodelled External Insurance Act.
RENEWABLE energy could help drive Bahamian electricity prices down to 10-15 cents per kilowatt hour, compared to their current 40 cents level, the Minister of the Environment said yesterday.
The Bimini Bay Resort & Casino’s developers have succeeded in arguing that a US court should send a lawsuit filed by a former condo purchaser, who is alleging he was “defrauded” of $106,000, into arbitration in the Bahamas.
Just a short time ago it was easy to tell a locally-produced commercial from an international one. Any locally produced commercial was horrible.
The Government can use the fact that 75 per cent of the electorate failed to vote in Monday’s referendum as “a mandate” to legalise web shop gaming, a leading businessman said yesterday, although it is apparently willing to risk potential “turmoil” from shutting the sector down.
THE Bahamas remains exposed to potential international sanctions over illegal web shop gaming as a result of Monday’s referendum, the ‘Yes’ vote campaign co-ordinator wartned yesterday.
RAV Bahamas, parent company of the Bimini Bay Resort & Marina, has invested $2 million in infrastructure to accommodate Balearia Ferry Group’s Bahamas Express ferry service between Bimini and South Florida.
A Cabinet Minister yesterday said money laundering concerns stemming from a banned/underground web shop gaming industry were “not very high”, but others said it would be “naive” not to think the situation may attract international attention.
THE 2012-13 crawfish season has been rough, according to Bahamas Commercial Fishers Alliance (BCFA) president Adrian LaRoda, who yesterday said bad weather, market prics and poaching were all to blame for the downturn.