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MARINA operators have seen an increase in business over summer 2012, with the Marina Operators of the Bahamas president (MOB) yesterday telling Tribune Business his Great Harbour Cay Yacht Club and Marina had seen a “phenomenal summer” with a 25 per cent business increa
The Bahamas can become a “dominant trade hub”, the minister for financial services and investments said yesterday, adding that rules-based trading agreements could protect certain industries from ‘dumping’ and other unfair practices.
AIRLINE executives were working feverishly yesterday to alleviate the heavy backlog caused by Tropical Storm Isaac, with one executive telling Tribune Business his carrier had suffered an estimated $70,000- $80,000 revenue loss.
The MINISTER of Financial Services yesterday said the Government has made no decision on what approach the Bahamas would take over the US Foreign Account Tax Compliance Act (FATCA), and whether it would sign a government-to-government agreement to protect the sector.
A Bahamas-based broker/dealer yesterday said it had resorted to pay and working hour cuts to combat a 50 per cent decline in trading volumes, adding that Immigration policies were making it hard to attract top-quality traders.
Developers of the $1.4 billion Baker’s Bay Golf & Ocean Club have vehemently denied accusations they “haven’t lived up to their commitments” to the local community under the project’s Heads of Agreement, and pledged to complete facilities such as a public beach park within the next 12 months.
CRUISE passenger spending in New Providence is up roughly 52 per cent for 2012 to-date, according to a senior Ministry of Tourism official, who estimated that cruise arrivals would increase 5-10 per cent year-over-year.
The Baker’s Bay Golf & Ocean Club project is expecting to create another 100 construction jobs within the next two-three months, its developers telling Tribune Business they expected to invest another $25-$30 million in infrastructure build-out up until 2015.
FINCO is relying on existing borrowers to “carry us through” to the end of its 2013 financial year, having suffered a “bit of a spike” in accounts over 90 days past due during the 2012 third quarter.
The positions taken by the Bahamas in trade agreement negotiations with Canada are “less liberalised” than both the National Investment Policy and this nation’s Economic Partnership Agreement (EPA) commitments, a senior official has told Tribune Business.
Economists tell us that specialisation is the most effective way to efficiently deliver goods and services to consumers
The Bahamian commercial banking industry has calculated that the Government’s proposed Mortgage Relief Plan will cover just $165 million in past due principal and accrued interest owing, a sum equivalent to just 36.7 per cent of all non-performing home loans.
A leading food retailer has urged all parties in the chicken imports debate not to ignore the tastes of Bahamian consumers or “unbalance the supply chain”.
AML Foods yesterday told Tribune Business it had “stopped counting” after receiving over 2,000 applications for the 90 jobs that will be created when its Solomon’s Fresh Market store at Harbour Bay opens before Christmas, the situation highlighting why proposed Employment Act reforms should be shelved.
Foreign developers and lenders are increasingly including ‘political risk’ in their assessments of whether to invest in the Bahamas, a key member of the Government’s BTC negotiating committee conceded yesterday.
AML Foods yesterday said it planned to break ground on its first $1-$1.5 million Carl’s Jr store in “about eight weeks”, a venture that will create 70 Bahamian jobs.
The National Insurance Board (NIB) is expecting to “pretty much” match the $42.6 million total comprehensive income it generated in 2011 despite incurring several ‘one-time’ expenses, its director yesterday disclosing that total benefit expenditure was also expected to rise 3 per cent in 2012.
THE Downtown Nassau Partnership (DNP) yesterday threw its support behind metered parking for the Bay Street area, as one merchant told Tribune Business the lack of adequate parking in downtown Nassau was “a complete turn-off” to potential customers.
Royal Bank of Canada has sponsored the recent FOCUS Lyford Cay Foundation programme.
The fruit of an upscale deli’s promotional labour has earned it top place as a monthly winner in a MasterCard-Ministry of Tourism campaign.
THE Bahamas International Securities Exchange (BISX) reported yesterday that its trading volume for the six months to end-June 30 more than doubled over the same period last year to roughly 2.8 billion shares.
BALDUCCINO’S boutique wine has developed a strong following thus far, its general manager said yesterday, telling Tribune Business he was looking to add food and service to the offering and create several job opportunities.
Bay Street and downtown Nassau could potentially receive a 6,000 passenger boost after two cruise ships were diverted to New Providence due to Hurricane Isaac.
These days, business seems battered from all sides. If it is not the recession, then it’s government dreaming up new rules with which we shall comply.
The Bahamas Oil Refining Company (BORCO) is the “ideal location” to service the expected 20-30 per cent increase in tanker traffic resulting from the Panama Canal expansion, its owner yesterday describing the facility as the “optimum spot” for a bunker filling station and crude oil ‘top up’ unit.