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THE Utilities Regulation and Competition Authority (URCA) will launch a public consultation on consumer protection and rights regulations later this year, its director of policy and regulation, adding that it also planned to form a Consumer Advisory Council.
AML Foods yesterday confirmed Tribune Business’s Monday article by disclosing that its preference share issue had been oversubscribed by $2.5 million, adding that the extra sum would be used to boost cash flow by taking out short-term bank debt.
The Long Island Chamber of Commerce’s former president yesterday told Tribune Business he had “no regrets” about selling the well-known Flying Fish Marina, as it had enabled him to pay off “seven figure debt” and focus on his Shell franchise.
THE ART OF GRAPHIX: The impact of design is everywhere, especially in the layouts of ‘local’ magazines, the Starbucks coffee cup, business letter heads and websites, perhaps even etched on the pen you are using right now.
The head of a BISX-listed company yesterday told Tribune Business that it had “not been impacted at the moment” by its broker/dealer subsidiary becoming embroiled in an alleged $140 million investment fraud.
THE Atlantis resort expects to be at full occupancy for Thanksgiving weekend with bookings being driven by its Battle 4 Atlantis tournament, Kerzner International spokesman Ed Fields telling Tribune Business yesterday that the resort’s rates were up about 10 per cent year-over-year.
While the relatively small number of local jobs created during the initial stages of oil exploration “might disappoint” Bahamians, the Bahamas Petroleum Company (BPC) has projected that 300-500 posts would be created if commercial quantities were discovered.
CABLE Bahamas has been urged by consumers to reduce its internal costs before seeking a 27 per cent increase in the price of its basic cable TV service.
The Bahamas “must create a marriage” between its agriculture and tourism sectors to create economic sustainability, a senior tourism official yesterday describing the Memorandum of Understanding (MOU) between the Ministry of Education and the Sheraton Hotel as a “small step” towards that goal.
BAHAMIAN environmental attorney and consultant, Romauld Ferreira, is set to lead a workshop at the Caribbean Renewable Energy Forum in Puerto Rico to review proposed legislation governing renewable energy.
A $14 million Bay Street plaza has leased 75 per cent of its available store space, one of its developers yesterday telling Tribune Business it was critical to all businesses ‘east of East Street’ for the long-promised waterfront boardwalk to be constructed.
Baha Mar is set to generate $200 million in local wages during the $2.6 billion Cable Beach expansion’s first year in operation, with its staffing levels rising by about 125 per cent over current levels.
When the announcement was made that the Paradise Island Bridge would be named after Sir Sidney Poitier, there was an immediate uproar in some quarters.
Leading institutional investors and brokers have backed plans to implement a Takeover Code as “absolutely essential” to orderly Bahamian capital markets, its absence having led to situations where minority investors were “clearly abused”.
The Government is seeking to further boost the manufacturing and trade economy by signing this nation on to the “broader concessions” offered by the US Caribbean Trade Partnership Act (CBTPA), a senior official yesterday indicating the move could increase the Bahamas’ $691 million annual exports to the US.
Numbers equivalent to more than 6 per cent of the Bahamas Real Estate Association’s (BREA) total membership have registered for its licensing course since the organisation dropped the rule that barred part-time realtors from operating in New Providence, Tribune Business was told yesterday.
$640m cumulative primary deficit
The Government’s revenue estimates were off by as much as 16 per cent at the recession’s peak, a key Ministry of Finance adviser yesterday describing this as creating “a very serious problem” that at one point blew the primary deficit up to $640 million.
The Attorney General yesterday said the Government wanted the Registrar General’s Department to match leading ‘ease of business’ jurisdictions such as Singapore, adding that plans to make key services completely electronic would bring it “into the 21st century”.
American Eagle’s future in the Bahamas looks “very bright” despite indications it may be spun-off from its American Airlines (AMR) parent, having added seven new staff in Nassau during the past three months.
A Bahamas-based pharmacist was paid $4,000 a month for the use of his company’s name and licence in a scheme to export illegal prescription drugs from Freeport into the US, court documents have revealed.
The original developer of an $11 million Eleuthera resort project yesterday said he was “as passionate as I was eight years ago” when he signed its Heads of Agreement, after construction work on its Marina Village component finally broke ground last week.
The Bahamas Government is absolutely right to want Bahamians to own a larger share of the Bahamas Telecommunications Company (BTC), but their approach is wrong-headed and will cost this country in cash, in economic competitiveness and in reputation.
A BAHAMIAN striping company believes the demand for such services could reach $4.5 million over the next five years, adding that it was looking to create a highly skilled local industry to better compete against foreign companies.
SANDALS is primed to expand its high-end boutique resort on Fowl Cay in the Exumas, its chief executive describing the property’s performance to-date as “really strong”.