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BAHAMAS Food Services’ (BFS) top executive has told Tribune Business he is ‘unaware’ of any potential deal to acquire the leading food distributor, despite market talk that a purchase offer was being discussed.
BAHAMIAN fishing vessels are the most productive in the Caribbean due to the “high market value” of crawfish and their other catches, a study has revealed, although less than 18 per cent of the industry’s workforce has received formal fisheries training.
The Bahamas must alter its “comparative advantage” and target new industries to generate economic growth, a US-based scholar and fellow academics have argued, with tourism’s “compartmentalisation” limiting its benefits.
MANY employers struggle with the decision of whether or not to terminate employees who have proven themselves as liabilities rather than assets.
REALTOR Mario Carey has recorded the first Bahamian sale of one of Baha Mar’s 307 luxury residences. The private, freehold residences are available for sale and located within each of Baha Mar’s hotels, and Mr Carey reported the first local sale of a residential unit within the $3.5 billion resort campus one week after his firm hosted a formal presentation on them.
Danny Ferguson (left) Bahamas Speed Week’s logistical guru is photographed with Brendon Foulkes, Speed Week’s Bahamas Hospitality & Entertainment Director; Jimmie Lowe, president of Bahamas Speed Week and Hon. Philip ‘Brave’ Davis, Minister of Works. Ferguson is the go-to guy for everything from police coordination, coordination with governmental Ministries resulting in site improvements - paving, landscaping, lighting, the track - banners, the circuit, for human safety and for the security of rare cars.
By NATARIO McKENZIE
THE Gladstone Road based food wholesaler Bahamas Food Services (BFS) may have a perspective buyer as some in the business community have suggested, although BFS manager Don Carnine told Tribune Business that he had no knowledge of such developments.
Controversial Lyford Cay financier, Viktor Kozeny, has responded to attempts by the Czech authorities to seize $22 million of his alleged assets by seemingly ‘vanishing’, attorneys denying he has any ownership interest in the company to which the funds belong.
Guy Harvey Outpost is looking to brand three-four more properties and take its collection of Bahamian resorts to between seven and eight, a co-founder yesterday saying it had established a northern Bahamas “trifecta” through its agreement with Old Bahama Bay.
A key Ministry of Finance adviser yesterday said he had asked government officials to probe whether there was “any merit” in complaints that the first-time buyer Stamp Duty exemption was being misinterpreted, agreeing that the situation might need to be clarified.
THE Clearing Banks Association (CBA) estimates that roughly 800-1,000 delinquent mortgage borrowers could benefit from the Government’s relief plan, but its chairman yesterday acknowledging that there were more than 3,000 who, “in all likelihood”, would not benefit from the initiative.
A Freeport resident has been charged by US regulators with perpetrating a securities fraud that increased two companies’ stock prices by 600 per cent and 300 per cent respectively.
The Old Bahama Bay Resort and Yacht Harbour yesterday became the third northern Bahamas addition this year to Guy Harvey Outpost Resorts’ Expedition Properties Portfolio, via a branding and marketing agreement.
While studying for my MBA at the University of Liverpool, I was introduced to a variety of celebrated business names.
THE Government’s mortgage relief plan is “not in conflict” with current bank lending practices, according to Clearing Banks Association chairman Nathaniel Beneby Jr, who added that most of what was in the plan “banks have been following in any event”.
THE Clearing Banks Association’s (CBA) chairman yesterday said the Government’s proposed Borrowers Protection Bill aimed to put a “cap” on salary deductions, noting that a company would only be able to approve a certain percentage of a person’s wage to go towards loan payments.
US Chargé d'Affaires, John Dinkelman, and US State Department specialists met Bahamian officials yesterday to launch talks on counter-piracy cooperation in cases involving Bahamian flagged vessels.
THE Inter-American Development Bank yesterday finally approved the $65 million in supplementary financing for the troubled New Providence Road Improvement Project (NPRIP), noting that the estimated overall final cost to complete the construction works was in the order of $190.9 million.
BACK-to-school sales for 2012 were relatively flat in comparison to last year, according to retailers, one telling Tribune Business: “It was business as usual”.
The Brookfield Asset Management executive directly responsible for the Atlantis and One & Only Ocean Club resorts yesterday moved to end speculation it was seeking an exit route, saying the company was “not interested in selling” the flagship Paradise Island resorts.
Cable Bahamas believes its proposed 27% basic cable TV rate increase is the only way to “safeguard the product’s financial viability”, having predicted that the shortfall below its 10.86 per cent capital return target would “double” for 2011.
Thumb drive, mobile drive, jump drive, fish stick..... These are the many names for memory storage devices, which have long eclipsed the floppy disk in terms of storage capabilities.
The Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman will this coming Monday lead a 20-strong private sector delegation to Haiti, telling Tribune Business yesterday he was “pretty enthusiastic” about the potential business opportunities that could be opened up.
The developers behind a $6 million marina in Nassau Harbour yesterday said they hoped it acted as “a catalyst” to further redevelop downtown, telling Tribune Business the project was 70 per cent complete and likely to create 30-40 full-time jobs.