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Key international intermediaries believe the Bahamas is “incredibly well-positioned” to grow its financial services business, but want this nation to maintain a more “visible” presence in key global markets.
The Bahamas Institute of Chartered Accountants (BICA) has named Jasmine Davis, Doctors Hospital Health Systems (DHHS) vice-president of patient finance, as its president for 2012-2013
Grand Bahama Shipyard has described its now-closed cruise ship ‘repair season’ as “extremely successful”, having docked 16 ships, a number that is set to increase to 17 for 2012-2013.
The Nassau Wyndham Resort’s “mid-$90s” room rates are “not good enough” and between 23-30 per cent below where they need to be, a Baha Mar executive yesterday conceding that the guest experience was being impacted by construction work on the $2.6 billion Cable Beach expansion.
COLINA Real Estate Fund’s president yesterday said he was aiming to grow its asset base by up to $5 million, or more than 40 per cent, over the next five years as its moves to expand its property portfolio and diversify rental income streams.
The owners/developers of some 500 acres at Grand Bahama’s West End are “right at the point” of concluding an agreement with the Old Bahama Bay resort’s 73 condominium owners, Tribune Business was told yesterday, with the deal said to involve a former executive at the property.
SEVERAL major Nassau-based hotel properties told Tribune Business yesterday they were seeing strong occupancy levels for this week’s July 4 US Independence Day holiday.
The Nassau Container Port (NCP) is expecting container throughput volumes to “skyrocket” by an extra 200-300 per week come August/September 2012 as a result of the Baha Mar project, Tribune Business was told yesterday, with its associated Gladstone Freight Terminal set for a July 15 opening.
Grand Bahama Power Company’s (GBPC) $80 million West Sunrise plant has started operations with a workforce that is 92 per cent Bahamian, the monopoly power provider yesterday saying it would further improve reliability following a year in which outages were “cut in half”.
Three members of the Bahamas Institute of Chartered Accountants’ (BICA) Council met with representatives of the International Federation of Accountants (IFAC) and the World Bank during the 2012 Caribbean Conference of Accountants in Antigua.
THE Nassau Airport Development Company (NAD) said yesterday that it was holding a “strong position”, a recent customer satisfaction survey giving it a score of 4.05 out of 5.
THE Government's antiquated accounting system means it is massively underestimating its true liabilities by millions of dollars, a leading accountant telling Tribune Business this means key indicators like an already-bad 56 per cent debt-to-GDP ratio, are, in reality, much worse.
THE sums owed to Owen Bethel's insolvent Montaque Capital Partners by affiliated companies "could differ significantly" from the initial $2.76 million estimate, liquidators for the Bahamian broker/dealer have warned, as they continue to also probe deals linked to Mr Bethel's family.
THE Grand Bahama Port Authority's (GBPA) chairman believes "good progress" was made in meetings with the principals behind the $225 million World Mart trade market proposed for Freeport, adding that there were "a lot of good signs out there" for the city's economy.
BIMINI Bay's principal expects to see occupancy levels at the multi-million dollar resort and marina reach 85-90 per cent through the addition of its $24 million luxury boutique casino and the imminent Balearia ferry service, telling Tribune Business: "We have survived."
THE Bahamian Contractors Association (BCA) is taking "a leadership position in the Caribbean" to develop a region-wide industry certification programme, its past president fearing they will otherwise be "left out in the cold" by requirements such as 100 per cent performance bonds.
GB Power: Base raten rise offset by efficiency gains Grand Bahama Power Company (GBPC) says the $0.03 base rate increase set to be imposed on consumers under its new tariff structure will be offset by fuel savings resulting from efficiencies generated by
MUCH attention has been given to bullying, and the aggressive behaviour and unfair advantage some assume over others
MINISTER of Tourism, Obie Wilchombe, is targeting an additional 200,000 visitors per year to Bimini, telling Tribune Business that the island's greatest difficulty in developing its tourism product has been limited airlift.
THE Bahamas International Securities Exchange (BISX) is becoming the "recognised independent standard" for valuing securities in this nation, its chief executive dismissing concerns that prices for stocks and other instruments were being distorted by one-off trades.
COMMONWEALTH Brewery maintained its cautiously optimistic outlook at its first shareholders annual general meeting (AGM), following a year in which it paid out 100 per cent of profits in a collective $0.58 per share dividend.
THE Bahamas' minister of financial services, Ryan Pinder, told key financial services intermediaries and executives that this nation should be the "first name off your lips" when advising clients on where to locate their assets.
THE Government is concerned there are not enough trained persons to capitalise on the 8,000 jobs expected to be created in the next two years, when the $2.6 billion Baha Mar project is completed, the Minister of Education, Science and Technology has said.
ALMOST 50 per cent of client assets at Owen Bethel's Nassau-based Montaque Capital Partners, which is reportedly insolvent with a $9.367 million net asset deficiency, are in jeopardy due to a Canadian institution's claim against them, Tribune Business can reveal.
MARINA boating visitors to the Bahamas grew by 35 per cent in January 2012, the Ministry of Tourism revealed yesterday, with the industry estimated to generate $46 million in annual boater revenues compared to $820 million in hotel stopover tourist spending.