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Deputy Prime Minister Philip Davis will host this Friday’s meeting between the feuding developers and homeowners at Exuma’s Oceania Heights development, a sign that the Government may be moving seriously to broker a resolution to the dispute.
Scotiabank (Bahamas) says its $1.3 million Carmichael Road branch will “serve as a major small business hub” in New Providence’s fastest growing community.
A prominent attorney yesterday urged the Government to require that the Grand Bahama Port Authority (GBPA) and DevCo form a marketing organisation to promote Freeport to international investors, arguing that both had ‘pocketed’ millions in tax savings without providing something in return.
Grand Bahama Power Company’s (GBPC) successful $32 million preference share issue will eliminate a $19.205 million deficit that previously existed between its current assets and liabilities, with its net income performance already showing the benefits of its revised tariff structure.
AML Foods chief executive yesterday admitted he was “a little frustrated” at the wait for construction approvals for its first Carl’s Jr outlet, while disclosing that store upgrades to its existing franchise would account for $500,000 of its upcoming $1.8 million capital expenditure programme.
The Bahamas Chamber of Commerce and Employers Confederation (BCCEC) yesterday said its Small Business Mentorship Programme aimed to save jobs and improve “the chance of success” for entrepreneurs in a sector that has a 70 per cent ‘failure rate’.
AML Foods yesterday said it was aiming to further reduce a key expenses line to the “mid-27 per cent range”, while disclosing to Tribune Business that it was increasing dividend payments to a regular semi-annual frequency.
THE Bimini Big Game Club enjoyed a 20 per cent room revenue increase in 2012, its general manager said yesterday, telling Tribune Business that the resort was looking forward to a busy 2013.
The Ministry of Tourism’s director-general said yesterday that its new marketing campaign, coupled with other initiatives, should ease the Bahamas’ reliance on Air Fare credits, while acknowledging that until then “we have to keep the shop open”.
The Grand Bahama Power Company (GBPC) has signed a ‘Regulatory Framework’ agreement with the Grand Bahama Port Authority (GBPA) to govern how it will be supervised, with the former’s majority shareholder set to base its Caribbean regional headquarters in Freeport.
The Bahamas Telecommunications Company (BTC) gave away $1.7 million in free texts, phone calls, and data during its ‘Gimme 10’ pre-paid customer appreciation promotion that ended on January 4.
There is a $75.5 million discrepancy over the sum allegedly held by a BISX-listed firm’s broker/dealer affiliate for a claimed multinational fraud, Tribune Business can reveal, with regulators having seized computers and a server from its downtown Nassau offices.
The Government has estimated that Hurricane Sandy caused $702.8 million worth of damage when it struck the Bahamas last October, although one former finance minister said the figure seemed “extremely high”.
The Bahamas Hotel and Tourism Association (BHTA) is giving “the utmost priority” to resolving Washington’s requirements that US credit card
The Government is working “feverishly” to bring the Bahamas into compliance with its commitments to the European Union (EU) under the Economic Partnership Agreement (EPA), having missed deadlines for the first two rounds of import tariff cuts.
The number of Bahamian companies applying for, and certified to obtain, relief from the Government’s roadworks compensation programme has exceeded 100 on both counts, a key Ministry of Finance official has revealed.
Wall Street is not anticipating that the introduction of a Value-Added Tax (VAT) will lead to a matching drop in revenues generated from Customs Duties, a prominent Bahamian accountant believes.
The Bahamas’ status as well-regulated financial services jurisdiction will be undermined if webshop gaming is allowed to persist as an illegal activity, the Gaming Board’s chairman warned yesterday.
CIBC FirstCaribbean’s director and head of its client solutions group, Martin Peichl, will speak on ‘Controlling Fuel Costs in the Current Climate’ this Thursday at the 13th Annual Caribbean Energy Conference.
As you move from one company to another, there are some noticeable differences between organisations that are very formal versus those which are more casual and relaxed.
The Bahamas could have a functioning commercial court within a year of the Cabinet deciding to establish it, a senior QC told Tribune Business yesterday, adding that such an investment “would more than pay for itself in a very short time period”.
A Bahamian contractor yesterday said he had used an alternative construction method to build $5-$6 million worth of homes in the past two years, reducing client costs by 20-30 per cent through “the way of the future”.
The pending Contractors Bill will become “the next hot topic” in the Bahamas once the gaming referendum is over, a leading industry executive said yesterday, pledging to get the legislation to Parliament by April.
The private sector is developing suggested amendments to the Stamp Act and first-time home buyer exemption “on the basis” that the latter will be extended beyond June 30, a leading developer yesterday saying he “can’t begin to explain” how important that is.
Control of the controversial Oceania Heights project should be handed over to a self-governing Homeowners Association, one purchaser yesterday saying this would help “clear up” all disputed issues and enable the development to “become what it should be”.