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AS Super Value moves ahead with its takeover of three former City Markets locations, employees of the former food retailer are still anxiously awaiting their severance packages, an executive telling Tribune Business yesterday: "The severance packages should be automatic under the laws of the Bahamas."
THE Utilities Regulation & Competition Authority (URCA) last night confirmed it was investigating the June 18-19 network outages that hit the Bahamas Telecommunications Company's (BTC) fixed-line and cellular services, giving the carrier until July 9 to produce "a detailed report" on the affair.
THE Nassau-headquartered Fidelity Group of Companies is moving to "centralise back office operations" in the Bahamas, Tribune Business was told yesterday, with staff costs and quality here said to be "far better or superior" to the other territories it operates in.
VACANCY rates of more than 20 per cent at its two main properties have left the BISX-listed Bahamas Property Fund in "a waiting game", its administrator said yesterday, with its bottom line "not going to change much" until new tenants were attracted.
BAHA MAR executives said yesterday that $550 million had been invested into the $2.6 billion development to-date, with $130 million thus far awarded to Bahamian firms.
BANK of the Bahamas International's managing director yesterday said its business e-commerce platform had the potential to "equal" the contribution its loan portfolio made to its bottom line, telling Tribune Business the facility was expected to be "profitable from year one".
FIDELITY Bank (Bahamas) is "comfortable" with projections that its 2012 full-year net income will exceed last year's $3.844 million, yesterday telling Tribune Business it expected its bottom line to increase quarter-over-quarter throughout this current financial year.
BAHA MAR yesterday affirmed its backing for the proposed "revolutionary" $102.3 million Seawater District Cooling (SDC) system that will supply 90 per cent of its air conditioning needs, but said the Government had given the project no license or approval.
SOME 87 per cent of small Bahamian hotels in the Family Islands are not realising their potential because they do not accept credit card booking payments online, Bahamas Hotel Association (BHA) president, Stuart Bowe, said yesterday.
A SENIOR US policy analyst and lobbyist yesterday shot down the notion that the Foreign Account Tax Compliance Act (FATCA) was "here to stay", calling the impending legislation an invasive plan to "put everybody in a financial fish bowl".
CLICO (Bahamas) liquidator has blasted the information demand served on himself by the insolvent insurer's Trinidad affiliate, as "harassment", describing it as "utterly meritless" and a "blatant effort to circumvent" Bahamian court proceedings.
THE Bahamas Electricity Corporation's (BEC) former executive chairman believes it is "vitally important" for the new government and Board to pick up where he and their predecessors left off, warning that a return to the tariff-cutting policies of 2002-2007 would "spell disaster".
COLINA Insurance Company has dropped its interest in acquiring CLICO (Bahamas) policy portfolio, Tribune Business can reveal, due to concerns over whether supporting back office data could be successfully obtained from the insolvent insurer's Trinidadian affiliate.
THE continued G-20/OECD push towards the automatic exchange of tax information poses "a serious threat" to the Bahamian financial services industry, a senior attorney urging this nation to "get ahead of the curve" in responding to their demands
THE Eurozone's sovereign debt crisis has boosted sales volumes in the Bahamian high-end real estate market over the past year, Tribune Business has been told, with deals hitting the "sweet spot" of between $2-$4 million on average.
WE began a discussion last week on the value of creating, and cultivating, a healthy mind, body and spirit, so that as citizens in corporate Bahamas we are able to make a more meaningful contribution.
BANK of the Bahamas International is today launching its e-commerce platform, its managing director describing it as "an ideal time" to make the move.
THE cost of borrowing in the Bahamas is a major deterrent to persons looking to start up developments or small business according to the Downtown Nassau Partnership's (DNP) co-chairman Charles Klonaris.
THE Bahamas Hotel Association (BHA) is calling for the elimination of the 25 per cent market value investment required under the Hotels Encouragement Act for the renewal of investment incentives.
THE London launch of the $2.6 billion Baha Mar project's 303 luxury residences has generated significant interest, a senior executive said yesterday, telling Tribune Business: "We were very encouraged."
MINISTER of State for Investments Khalis Rolle said yesterday that he was very optimistic regarding a number of investment projects currently in the pipeline, telling Tribune Business that these projects varied between sectors such as tourism, agriculture and energy.
PRESIDENT and CEO of AML Foods Limited Gavin Watchorn told Tribune Business yesterday it expected to break ground on its flagship Carl's Jr restaurant in late October - early November and had already picked out a site for its second location.
I LIKE the saying: "You can't disguise a bad message, no matter how much you dress it up". There are many businesses who want their goods or services to appeal to everyone and prefer skipping the planning to get right to designing ; not knowing that it takes time and patience to design the right message that will reach the right people.
RUBIS'S western Caribbean general manager said yesterday that company's immediate focus was to regain its commercial fuels and aviation business, telling Tribune Business that the company was also seeking to become more effective in the administration of maintenance in its retail operations.
A TEXACO retailer said yesterday that while he had no intentions of resisting a court order which paved the way for his forced exit from the petroleum retail business after 23 years, "the war was just getting started."