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Foreign investors are unlikely to be deterred by the Government’s efforts to renegotiate the Bahamas Telecommunications Company’s (BTC) privatisation because the sales process was “flawed”, a former finance minister told Tribune Business yesterday.
The Bahamas’ $838 million foreign currency reserves “are in line” with both their internationally-recognised adequacy benchmarks, the Central Bank of the Bahamas governor yesterday saying the one:one US dollar peg was “never in jeopardy” over the past decade.
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The Bahamas International Securities Exchange’s (BISX) planned microcap listing facility was yesterday praised as “long overdue”, a consultant to the sector telling Tribune Business it would force small businesses to “up their game” as well as improving access to capital.
AN economic stimulus zone can be created around the $2.6 billion Baha Mar project to help jumpstart business along the West Bay Street corridor, a Bahamian realtor yesterday saying it could become “the new Bahamian Reviera”.
BACK-to-school sales for 2012 to-date have been steady according to several retailers, who told Tribune Business yesterday that they were expecting a surge in business this weekend and next.
A Scotia Private Client Group sales assistant, Penny Ferguson, has passed the Canadian Securities Course (CSC) exam after studying at the Nassau-based Securities Training Institute (STI).
The Bahamas’ fixed exchange rate has exceeded the average for small island states by coming under pressure three times’ between 1999-2010, an International Monetary Fund (IMF) paper has revealed, with its foreign reserves covering only 60 per cent of a new benchmark its authors have developed.
The Bahamas International Securities Exchange (BISX) is aiming to launch its small company/microcap listing facility before year’s end, its chief executive yesterday saying: “A lot of people are anxiously waiting for this to move forward”.
A key Ministry of Finance adviser yesterday said the draft Borrowers Protection Bill “challenges some very fundamental and long-held concepts” relating to the sanctity of private contracts, adding his voice to those urging that the legislation be heavily modified before going to Parliament.
A well-known businessman yesterday backed legalising gambling for Bahamians, suggesting numbers operators be taxed at “a reasonable” 20 per cent rate as he told Tribune Business: “We have no choice.”
The Bahamian subsidiaries of two Bermuda-headquartered financial institutions have found 2012 tough going to-date, due to a mix of losses, redundancy and reduced working hours.
The success at the Olympics has caused many to turn an eye towards sport as a potential revenue generator for the Bahamas.
RUM Cay is shaping up as the “catalyst for adventure tourism” in the Bahamas, a resort owner and operator on the island telling Tribune Business yesterday that this market could serve as a “gap filler” for Family Island resorts in the “off season”.
THE crawfish season appears to have gotten off to a slower start that usual in terms of yield, the Bahamas Commercial Fishers Alliance president said yesterday, although it was still too early to call the the season a bust.
A LEADING Bahamian property developer said yesterday that while the government’s Mortgage Relief Plan does not “totally solve the problem” it was a “significant step forward”, telling Tribune Business that tackling the foreclosed homes issue would have a trickle down affect on new home construction.
THE Utilities Regulation and Competition Authority (URCA) has completed its initial review in its investigation of the Bahamas Telecommunications Company’s (BTC) network outage, the communications regulator announced yesterday, stating that it had also requested three years of preventative maintenance records from the company.
REDUCING the Stamp Duty on property deals across the board would generate greater buyer interest and help property sales “tremendously” according to a local developer.
A BAHAMAS-based Cloud computing start-up sees the Bahamas’ finance sector as a “prime target” for its offerings, its director telling Tribune Business that the firm’s virtualized IT solutions could increase productivity by 48 per cent and provide thousands of dollars in cost savings.
MANY Bahamians travel to the United States for a vacation experience during the summer months. Most of these Bahamians travel with one purpose in mind: Shopping.
Believing in fostering the development of a new generation of Agricultural Entrepreneurs, BAIC along with North Andros High School, Agricultural Science teacher and project manager, Mr Rai Budhup, continues to pioneer this revolutionary programme.
THE Bahamas Mortgage Corporation (BMC) will need an injection of $40-$50 million ‘in the near future’ to maintain its financial viability according to former Mortgage Corporation Chairman Dr Duane Sands.
THE Bahamas’ accession to the World Trade Organisation (WTO) will open up new markets for domestic manufacturers according to Minister of Financial Services Ryan Pinder who told Tribune Business that trade agreements would ensure the sector would be protected from issues such as dumping.
BUSINESSES in the Family Islands need to be incentivised and allowed to access multiple concessions says Eleuthera Chamber of Commerce president Thomas Sands who told Tribune Business that there was a sense of optimism about the island’s economic outlook.
FREEPORT — Husband and wife team Bruce and Mora Chee-a-Tow are two of several business owners in Grand Bahama exploring ways to improve operations following an official visit by Financial Services Minister Ryan Pinder to their Island Bedding warehouse. \