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The Bahamian people should determine whether ventures such as oil exploration/drilling should be explored in this nation’s water, the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) chairman saying the issues at stake were much wider than those presently being discussed.
A RECENT Supreme Court decision involving a group of former City Markets employees in Freeport has made the issue of severance pay for former Nassau staff a "moot point," according to an attorney involved in the matter.
ROYALSTAR Assurance's managing director yesterday told Tribune Business the general insurer had "outperformed everyone in the market by a considerable way" over the past nine years, although $1.4 million in net Hurricane Irene claims dropped its 2011 total comprehensive income by 15.7 per cent.
ATLANTIS' occupancy levels were up by 6 per cent year-over-year "across the board" for the 2012 first quarter, Tribune Business was told yesterday, with the summer months set to be the recovery "proof in the pudding".
A "CONSORTIUM" of lenders, rather than Brookfield Asset Management by itself, was last night said to be on course to "imminently" take over ownership of Kerzner International's Paradise Island resort, previous dissent from one of the 'middle' creditors having been quelled.
A GROUP of 10 former City Markets employees have obtained an injunction in the Supreme Court prohibiting the disposal of funds or assets worth $189,000 from the supermarket chain's pending sale to Super Value, according to court documents obtained by Tribune Business.
A LEADING Bahamian general insurer yesterday said it was "becoming more and more difficult" to attract reinsurance support for this market, although a reduction in competitive pressures meant this might ease somewhat.
SENIOR officials at the Bahamas Petroleum Company were tight-lipped yesterday, following remarks by Prime Minister Hubert Ingraham that, if re-elected to office, the Free National Movement (FNM) would not permit oil drilling and exploration in Bahamian waters.
I CAME across the less-used term of Intrapreneur on TechCrunch the other day, and it certainly set me thinking. As might be expected when you think of it, Intrapreneurs work in larger organisations, where they spearhead projects such as new product lines and branches. This is, in fact, exactly what entrepreneurs do, too.
THE proposed agency to facilitate Bahamian small and medium-sized businesses will help to reduce their risk profiles, according to minister of state for finance, Zhivargo Laing, who said this will ultimately allow them greater access to capital.
TRADE union executives representing City Markets line-staff said yesterday that the food store chain's former employees were all entitled to their severance packages having been "effectively terminated", telling Tribune Business that legal action may be taken.
A major US-based resort developer/operator yesterday confirmed it had teamed up with Craig Symonette, brother of Deputy Prime Minister Brent Symonette, to expand an Eleuthera hotel via a $15 million first phase investment.
A BISX-listed food retail group yesterday warned it had budgeted for freight costs to increase by 10-15 per cent in 2012, telling Tribune Business it was also being held back by price controls that were "not needed in this day and age".
AML Foods is aiming to double net profit margins to 4 per cent, its chief executive telling Tribune Business yesterday that it was targeting year-over-year top-line growth of 16.4 per cent to $115 million for its current financial year.
BAHAMAS First Holdings' (BFH) chief executive yesterday expressed concern about the "unprecedented" level of fire claims the general insurance group incurred in 2011, telling Tribune Business that together with Hurricane Irene-related losses these produced a collective $6.5 million bottom line hit.
CITY Markets principal, Mark Finlayson, in addressing employee concerns over compensation packages, yesterday said the "primary" issue in negotiating the sale of the five-store chain was saving jobs, telling Tribune Business the situation was different in Freeport where severance payments would have to be made.
THE Bahamas International Securities Exchange (BISX) last night announced that the listing application submitted by the Arawak Port Development Company had been formally approved by its Listing Committee, with the firm added to those listed on the exchange.
YOU have lined up the group in a great location, and you have taken a ton of fabulous pictures. Then you browse through the camera and notice that half of them have bright red glowing eyes.
A GRAND Bahama businessman said yesterday that he was going on the "defensive", after the Utilities Regulation and Competition Authority (URCA) issued an order prohbiting the use of his assigned radio spectrum. He told Tribune Business he would wait for the communications regulator to take him to court.
A BAHAMIAN E-Commerce company is aiming to attract 200,000-250,000 persons to its electronic and mobile commerce market within the next 12 months, a company executive said yesterday, telling Tribune Business it would have 25 retail outlets by the end of May 2012 part of its phased roll-out.
THE Bahamas Electricity Corporation (BEC) has cut its accounts receivables by $14 million over the past six months since September 2011 to a current $129 million, its executive chairman told Tribune Business yesterday.
THE Supreme Court has been busy over the last four months issuing asset freeze and document production Orders relating to an alleged $160 million international fraud, which has involved - albeit unwittingly - a Bahamian-domiciled investment fund and accounts at a well-known international bank.
THE Bahamas Trade Commission's co-chair yesterday threw his backing behind the proposed AsiaMart merchant emporium in Freeport, telling Tribune Business it could "revolutionise" the Bahamian economy and create "astronomical" benefits for local retailers, manufacturers and other entrepreneurs.
AsiaMart clients to 'take up 75%' of GB hotel capacity By NEIL HARTNELL Tribune Business Editor The proposed merchant trade market for Freeport will "take up" 75 per cent of Grand Bahama's existing hotel room inventory, one of its directors implying it
WESTERN Air's chief executive yesterday said the airline was "holding back" on plans to move into the saturated Florida aviation market, telling Tribune Business the carrier was operating at 78 per cent load factors domestically.