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PRIME Minister Perry Christie yesterday said the Government was not close to making a final decision on the potential acquisition of Bahamas Food Services (BFS) by the multi-billion dollar US food distribution giant, Sysco, telling Tribune Business his administratio was having detailed discussions with rival Bahamian wholesalers on the deal’s likely impact.
A joint private-public sector committee is due to be formed by end-September to pursue the development of a Bahamian aircraft registry, the attorney spearheading the project yesterday saying its creation would “open the doors to the realms of all possibilities”.
My love affair with selling began with Junior Achievement (JA).
An executive with a well-known Bahamian economic think-tank is questioning why the Government should favour manufacturers over other industries by giving them incentives not available to others.
The Grand Bahama Power Company (GBPC) has officially opened its $80 million West Sunrise Plant (WSP).
TEXACO retailers said yesterday that their new distributor, Rubis, had “saved a lot of us”, with their gas stations said to be rebranded under the new owner’s banner from June 2013.
BAHAMIANS will be able to access $1 million in grant funding under the Global Environment Facility (GEF) small grants vehicle, the Minister of the Environment and Housing said yesterday, adding that the programme had committed to providing this locally through 2014.
Bahamian-owned food wholesalers would inevitably be “undercut” on price if Bahamas Food Services (BFS) were to be acquired by the multi-billion dollar Texas giant, Sysco, one warning yesterday that he could not see the deal getting government approval without Bahamian participation.
The Bahamas is “20 years behind the eight-ball” when it comes to microfinance, a budding lender in the sector yesterday telling Tribune Business he had set the “aggressive” target of generating 1,000 such loan accounts within 21 months.
A leading investment advisor yesterday said he could not “readily recall” the Government ever seeking $300 million in bond financing in such a short times period, as the administration launched its latest $100 million Bahamas Government Registered Stock (BGRS) issue.
More than 41,000 Bahamians are either unemployed or have given up looking for work, with an FNM Senator yesterday conceding that the economy’s ability to “put a sizeable dent” in these figures “does not exist in the short to medium-term”.
The purchaser of the Paradise Island Harbour Resort, Warwick International Hotels and Resorts, has put down “hard, non-refundable money” on a $6.8 million deal, something that was yesterday said to “bode well for the Bahamas”.
Both government ministers directly responsible for the securities industry attended the first meeting of the Investment Funds Act Technical Team (IFATT), which will spearhead efforts to modernise the legislation.
SAFE & SECURE: The greatest challenge with access control is that successful businesses want people to come inside and purchase merchandise, or benefit from a particular service.
A former FNM Cabinet minister yesterday said there was “no way” an Ingraham administration would have run up the current government’s projected $550 million deficit, telling Tribune Business that “sobriety” was needed to restore the Bahamas to fiscal balance.
BAY Street landlords had to discount rental rates by one-third at the recession’s height to attract new tenants, a leading realtor telling Tribune Business the market had since “pretty much stabilised”.
More than one-third of “major” Bahamian hotels will be impacted by just a one metre sea level rise, with a regional study calling for “serious and urgent” action to address the likely climate change impacts on this nation.
BAHA MAR executives believe they will this week unlock the Government’s $48.2 million contribution to Cable Beach infrastructure works when the third, and final, stage of the casino hotel reaches 100 feet above grade.
DEVELOPERS of the 100-acre Lyford Hills community will this week submit plans for a six-unit townhouse complex that will be totally solar powered, while aiming to save $5,000-$6,000 per month in energy costs by running all community facilities off renewable energy.
FOR many years now, women have fought for equality in the workplace.
THE Bahamas Electricity Corporation’s (BEC) former executive chairman has cast doubt on whether his successor will be able to raise the $300 million financing he is seeking, telling Tribune Business its balance sheet “cannot support any significant borrowing”.
A leading retailer yesterday backed any potential acquisition of Bahamas Food Services (BFS) by the multi-billion dollar Texas-based giant, Sysco, as potentially “the best thing that ever happened to the food services industry in the Bahamas”.
Robin Hood’s former principal is aiming literally to ‘rise from the ashes’ by re-opening his former Prince Charles Drive store before Christmas 2012, a move he yesterday said would require a $1.75 million investment and create around 170 jobs immediately.
A well-known manufacturer yesterday said eliminating the 10 per cent duty rate levied on the sector would put the equivalent of “5 per cent of gross sales” back into his business, a sum that could mean the difference between survival and death for some firms.
Bankers yesterday expressed fears that the re-named Homeowners Protection Bill would result in the Bahamas’ own ‘credit crunch’ if passed into law as is, with Tribune Business told there were no “material changes” from the first draft.