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By Ian Ferguson
Brian Jones has been chosen for the Bahamas Financial Services Board’s (BFSB) Financial Services Development and Promotion Award 2012 for developing the Qualified Investor Fund - the Smart Fund Model 007 (SFM007).
Bahamian Brewery and Beverage Company’s new distribution and administrative centre will boost the company’s developing retail operations when it opens on Nassau Street North, adjacent to the Nassau Palm Resort, before Christmas. The centre, which will also feature a retail outlet, will enhance a network that already includes five Jimmy’s Wines and Spirits stores in New Providence, one in Grand Bahama and another in Eleuthera.
A micro rum distillery is aiming to start production from the former Buena Vista property by the first week in December, its principals yesterday saying they were confident of attracting more than their base 150,000 visitor estimate during the first year.
Bank of the Bahamas International’s shareholders have seen a 60.7 per cent decline in net income available to them from the 2012 financial year, largely due to increases in preference share dividends and loan loss provisions.
Former employees of the now-defunct City Market supermarket chain have “lost faith” in the legal system, a spokesman for the group said yesterday, telling Tribune Business that 80 per cent had still “not received a dime”.
Although Hurricane Sandy’s impact will not harm the Bahamas’ chances of achieving 2.5 per cent GDP growth for 2012, the Central Bank’s governor yesterday warned that the economy needed to grow at a faster rate to reduce the 14.7 per cent unemployment rate.
Owning a business can be like navigating a small yacht through a tropical storm that threatens to snap the masts, or take out the sails. On other days when things are going better, managing a firm effectively can be more a matter of subtle changes of direction as the market shifts. Here are my thoughts on this.
The Utilities Regulation and Competition Authority (URCA) will host the 10th annual conference of the Organisation of Caribbean Utility Regulators (OOCUR), from November 7-9 next week at the Grand Lucayan Resort .
Bahamas Speed Week’s organisers yesterday said that despite themselves incurring financial losses, its inaugural revival - after a 48-year hiatus - last year pumped more than $800,000 into the Bahamian economy.
The butler for Governor General Sir Arthur Foulkes, Edwardo Cox, was one of 21 Bahamians celebrating their graduation from a month of training with the Guild of Professional English Butlers at Sandals Emerald Bay this past week.
Attendees at this year’s Florida International Film Festival (FLIFF) On Location: Grand Bahama braved Hurricane Sandy, with the Bahamian stage of their event still considered a success.
Cable Bahamas yesterday described as “completely unfounded” claims that its proposed basic cable TV rate rise was only intended to finance its $65 million Florida expansion, adding that the increase was necessary to meet Bahamian regulatory requirements.
The broker/dealer subsidiary of a BISX-listed company has been described by US regulators as “the pliant custodian” for an investment group accused of perpetrating an $140 million fraud, one investor alleging that it also failed to respond to its asset verification requests.
The former City Markets’ supermarket chain’s principal yesterday pledged to take “strong legal action” against its ex-Harbour Bay store’s landlords and BISX-listed AML Foods, arguing that his company was current on rental payments when the lease was terminated.
THE Bimini Big Game Club has lost nearly 50 reservations, equalling “a few hundred” room nights, due to United Express/Silver Airways’ decision to suspend its services to the island following the temporary closure of the Bimini Bay Resort.
A leading developer has warned that the Bahamas could slip further than 77th in the World Bank’s Ease of Doing Business rankings unless it reforms the Planning and Subdivisions Act, as this has “drastically complicated” real estate permitting.
Use Art of Graphix logo from Business logos. Byline ‘By Deidre M. Bastian’, and use Pic of Deidre Bastian as e-mailed
The Minister of Financial Services yesterday said the Bahamas had to “get ahead” of the policy cycle when it came to G-20/OECD initiatives targeting international financial centres, and become more than an ‘offshore centre’.
Cruise lines yesterday said there had been some cancellations in calls to their private islands in the Bahamas due to repairs that became necessary in the aftermath of Hurricane Sandy.
We will begin this discussion back in 2005 with Hurricane Katrina, considering we are still reeling from the impact of Sandy here in the Bahamas.
Cable Bahamas yesterday said it had restored services to almost 100 per cent of its customers on New Providence, Eleuthera, Andros and Bimini by Tuesday afternoon.
SANDALS Royal Bahamian’s general manager yesterday estimated the resort would spend just under $1 million to carry out repairs to areas damaged by Hurricane Sandy, telling Tribune Business that its occupancy levels were near 80 per cent at the time of the storm.
A Bahamian broker/dealer was yesterday viewing a Canadian regulator’s decision to modify the freeze on its accounts as “a slight victory”, even though the $2.2 million they once contained was likely to have declined in value by 50 per cent.
The Bahamian Brewery and Beverage Company’s founder yesterday said the company had improved its efficiency “at least 45 per cent” since it was created five years ago, envisioning its further expansion to a 175-strong workforce.