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Doctors Hospital Health Systems is targeting the international market as the natural “go to” sector, as it bids to counter the $30-$40 million spent annually by Bahamians on medical services abroad.
Bahamian households living below the $5,000 poverty line increased by 83 per cent between 2007 and 2011, an Inter-American Development Bank (IDB) report warning that “dramatic income deterioration” has driven this number well above 5,000.
The proposed Employment Act reforms will merely “kick the private sector when it’s down”, a well-known businessman warning that his labour costs were already “edging up towards” being equivalent to both 50 per cent of total costs and gross profits.
Principals behind the $225 million trade market proposed for Freeport are hoping last Thursday’s meeting with the Prime Minister will enable them to take the project “to the next level”, given the “encouragement” they received from the Government.
The National Insurance Board’s (NIB) $104 million in collected contribution income at end-June has put it slightly ahead of schedule, or more than 50 per cent of the way, towards its $200 million full-year target at 2012’s mid-point.
The Solomon’s Fresh Market store at the Old Fort Bay Town Centre has won the Annual Star Building System Award for Best Building in the south-east US region.
By Ian Ferguson
A Cabinet minister has pledged to deliver “better value for money” from the Government’s housing programme, and acknowledged that “it cannot all” be financed through the cash-strapped Bahamas Mortgage Corporation (BMC).
One of the Bahamas’ best-known and historic retail names is ceasing business at month’s end with the loss of “under 15 jobs”, its owner yesterday telling Tribune Business he had been unable to “make inroads” into the annual $1 million losses it was suffering when he took over.
A comprehensive overhaul of the Bahamian social security system could cut poverty rates by 5 per cent, and slash the poverty gap by 20 per cent, an Inter-American Development Bank (IDB) report has forecast.
Bahamian employers remain “furious” about the nature and timing of the proposed Employment Act changes, one well-known businessman yesterday saying the reforms would introduce “outrageous inflexibility” and turn this nation into another France.
The Bahamas Commercial Fishers Alliance (BCFA) president yesterday said he was optimistic that the customary target of five million pounds of crawfish would be hit this season, telling Tribune Business there was no trickle down effect for Bahamian fishermen as exporters were securing the lion’s share of revenues.
A start-up is a new enterprise going through the early phases of development. We all hope ours will be characterised by rapid growth and venture capitalists kicking down the door.
EMPLOYEES of the Wyndham Nassau Resort and Crystal Palace Casino remained on “work-to-rule” yesterday as hotel union and Baha Mar executives met with Prime Minister Perry Christie and Labour Minister Shane Gibson for a second day over the resort’s planned September closure and voluntary separation offer to employees.
LABOUR and National Insurance Minister, Shane Gibson, said yesterday that he plans to sit down with employer and trade union representatives to “hammer out” the proposed reforms to the country’s Employment Act, once he receives detailed feedback from the employers.
A FREEPORT-based attorney said yesterday he may seek the Supreme Court’s assistance in the disbursement of monies owed to former City Markets employees, amid suggestions that staff had rejected an offer to receive 20 per cent of the severance pay due to them.
Receivers have been forced to serve legal proceedings on a Paradise Island resident accused of committing a $22 million fraud via Deputy Prime Minister Philip Davis’s law firm, Tribune Business can reveal, as they seek to recover $7.1 million allegedly transferred to the Bahamas.
Some $1.295 million in financing from the Inter-American Development Bank (IDB) is aiming to upgrade five new government units “crucial” to the Bahamas’ success in trade negotiations, including the Standards Bureau, competition authority and Intellectual Property Office (IPO).
FamGuard Corporation yesterday said A. M. Best’s decision to downgrade the company’s rating “just defies logic”, especially after its mortgage book’s share of total investment assets was reduced by 15 percentage points over a five-year period.
Controversial Lyford Cay-based financier, Viktor Kozeny, is confronting a ‘ghost from his past’ over moves to enforce a $410 million judgment against him by seizing $22 million held in frozen New York bank accounts.
An alleged top financier for Osama bin Laden’s al Qai’da network sat on the Board of a now-defunct Bahamian bank, a US Senate report released on Tuesday reveals.
THE Bahamas Commercial Fishers Alliance (BCFA) yesterday said it is adamantly opposed to allowing foreigners to fish in this nation’s waters, its president telling Tribune Business that the unsustainable methods many foreigners employed would be detrimental to the industry.
Some $1.295 million in financing from the Inter-American Development Bank (IDB) is aiming to upgrade five new government units “crucial” to the Bahamas’ success in trade negotiations, including the Standards Bureau, competition authority and Intellectual Property Office (IPO).
THE Nassau Airport Dvelopment Company(NAD) yesterday announced it has expanded its management team with the additions of Sian Bevans and Tenniel Newton.
CLICO (Bahamas) liquidator has to-date been unable to prove that the insolvent insurer is the ultimate beneficial owner of a Grand Bahama-based building supplies company, threatening his ability to sell this asset for the benefit of creditors.