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While a $74 million deal to sell Nassau’s British Colonial Hilton is “very, very close” to being sealed, a senior tourism official yesterday confirmed that a bid for the still-closed South Ocean property had fallen through.
With 70 per cent of Grand Bahama’s more-than 600,000 cruise arrivals coming ashore, the Grand Bahama Port Authority (GBPA) is hoping the opening of Senor Frog’s at Freeport Harbour will further increase the activities menu.
The Ministry of Tourism is hoping to “identify a finalist” to take over Grand Bahama’s only operating casino within the next 10 days, the present incumbent having agreed to stay on until February 2013.
The National Insurance Board’s (NIB) chairman pushed for $42,000 to be paid to a company controlled by “a business partner” for an energy audit of its property portfolio, court documents allege, after another firm had conducted the same task for $3,000.
A well-known businessman yesterday urged the Prime Minister to “be decisive” and not wait for forensic investigations to sort out “the bloody mess” at the National Insurance Board (NIB), adding that Algernon Cargill appeared to have “done a good job” enforcing the rules.
Callenders & Company was this month was named the Bahamas’ leading corporate law firm by international judges as part of a worldwide search for excellence.
THE BAHAMAS Agricultural & Industrial Corporation is aiming to transform Andros (BAIC) into the “agricultural hub” of not only the Bahamas but the wider Caribbean region.
BAB Holdings’ principal yesterday said the company found it “offensive” to learn that the National Insurance Board (NIB) had decided not to participate in its $10 million private placement issue via the media, rather than informing it directly.
The absence of a modern intellectual property rights regime and full World Trade Organisation (WTO) membership means Bahamian entrepreneurs do not enjoy “maximum protection” for their unique products and designs in foreign markets, a Cabinet minister said yesterday.
The National Insurance Board’s (NIB) chairman allegedly attempted to fire its in-house actuary without consulting management or the Board of Directors, a move that ran counter to advice from the world’s leading social security body.
Top BAF Financial executives had “no knowledge” of internal battles at the National Insurance Board (NIB) over whether it should fully take-up their parent company’s $10 million preference share issue.
A FORMER National Insurance Board (NIB) chairman expressed “grave concern” to Prime Minister Perry Christie over suggestions it was about to appoint a company owned by a Cabinet Minister’s family as its ‘broker of record’.
THE Bahamas International Securities Exchange (BISX) has admitted its planned micro-listing tier will be a loss-maker during its infant years, but believes the facility is essential to “bring the entrepreneurial spirit” into this nation.
A FORMER finance minister has questioned whether the Bahamas truly recognises it has “a very serious problem” in the Government’s fiscal position, and called for a “top up” approach to reining in excessive spending.
THE National Insurance Board (NIB) twice came close to missing monthly payments to hundreds of Bahamian pensioners after its chairman revoked management’s authority to ‘manage cash flow’, its director has alleged.
MANY Fortune 500 companies have experienced the power of Corporate Mentorship Programmes, and are beginning to document and highlight the tremendous benefits of this powerful talent management tool.
MORE than $250 million worth of souvenirs and gift items are imported into the Bahamas each year, income the Bahamas Agricultural & Industrial Corporation (BAIC) is determined to keep in the local economy.
The Bahamas International Securities Exchange’s (BISX) global expansion plans are inextricably linked to this nation achieving the top international securities industry ranking, its chief executive saying the exchange’s “future growth and development” depended upon it.
Cable Bahamas appears close to obtaining half the regulatory approvals it needs to consummate its $65 million US expansion, after the Federal Communications Commission (FCC) gave it the ‘fast track’ authority it was seeking.
A huge battle over who should wind-up an alleged multi-million dollar fraud, a case that has embroiled a BISX-listed company, has ended with the Supreme Court appointing a combination of PricewaterhouseCoopers (Bahamas) and the US receiver as liquidators.
Karl Albrecht founded the discount supermarket chain, Aldi, after he cut his teeth in his mother’s grocery store.
Bank of the Bahamas International yesterday said it aims to target the “unbanked market” in southern New Providence via its new Carmichael Road branch, disclosing that it has hired Creole speakers among the location’s 12 staff.
By NEIL HARTNELL
The Bahamas International Securities Exchange (BISX) yesterday said it was targeting “trade financing” and ‘non-traded’ securities listings for development in 2013, as it prepares for its “adolescent growth spurt”.
The Bahamas has the second lowest fiscal consolidation success rate in the Caribbean, a working paper for the International Monetary Fund (IMF) has revealed, suggesting that its prospects of reversing the ongoing slide are not promising.