Local Business


Bahamas ‘land fraud’ sparks furious battle

The battle over an alleged Bahamas real estate fraud hit new heights yesterday, as international investors pushed for a summary judgment to recover outlays worth tens of thousands of dollars.

Bahamas ‘just too murky’ on land buying

An alleged land fraud victim yesterday said he would never again seek to acquire Bahamian real estate because the process was “too murky”.

Deal was to ‘save my life savings’

The alleged victims of a Bahamas real estate fraud were yesterday labelled “a group of spoiled rich kids”, who were seeking to extort money from the vendors via ‘blackmail’.

Chamber chair urges greater minority investor safeguards

The Bahamas needs to implement greater minority investor protection, with the Chamber of Commerce’s chairman arguing that too many were content to “ride along” with the majority.

Don’t ‘capitulate’ on our financial services

The Bahamas was yesterday urged not to “capitulate” over its financial services industry, with one practitioner refuting the former prime minister’s belief that the sector is beyond “salvaging”.

IAN FERGUSON: Don’t ignore the vacation benefits

Amid the hustle and bustle of the workplace, employees often overlook and underestimate the importance of vacation. Statistics show that, annually, the average employee leaves many vacation days and weeks unused. There are even those who pride themselves on not taking vacations. Though dedication to your profession is wonderful and commendable, we as humans require rest, and there are ample benefits to taking a vacation.

Airline bookings up through October

Advanced bookings on flights into the Bahamas have risen “over and above’ last year’s numbers straight through October, a top tourism official adding that this nation “still has a product to promote” despite the stalled Baha Mar project.

Investment Funds overhaul moving

The Securities Commission’s executive director yesterday said work was “progressing” on the overhaul of the Investment Funds Act, although she was unable to provide substantive details on the reforms.

NHI threatens 20% rise in doctor costs

The Government’s proposed National Health Insurance (NHI) scheme threatens to increase doctors’ costs by “at least 20 per cent”, amid competing proposals to reform the profession’s relationship with insurers and the Government.

Bahamian economy ‘as low as it can go’

The Bahamian economy has “gone as low as it can go”, with the Chamber’s chief executive yesterday conceding that progress on improving the ‘ease of doing business’ was not happening “as fast as we’d like”.

‘Tragedy’ for regulation to force business closure

The Chamber of Commerce’s chief executive yesterday said it was “a tragedy” if government regulations forced business closures, as he again called for “market forces to prevail” over price controls.

Harbour Island’s ‘extreme damage’ from power woes

Harbour Island’s power outage woes have caused “extreme damage” to its reputation as a tourism idyll, Tribune Business was told yesterday, with resident businesses renewing demands for the island to have its own power plant.

Chamber chief: Don’t stoke devaluation fear

Devaluation concerns were yesterday branded “premature” by the Bahamas Chamber of Commerce’s chairman, who argued against using the issue “to cause fear and pandemonium”.

URCA warned over ‘maximum damage’

The Utilities Regulation & Competition Authority (URCA) is threatening to “inflict maximum damage” on the now-liberalising mobile market via a major change to its regulatory approach on retail pricing.

Family Island airport revelations ‘damning’

Revelations about ‘the sense of chaos’ at key Family Island airports are potentially “catastrophic” for the tourism industry, a senior airline executive yesterday saying immediate corrective action was required from the Government.