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Baha May delay’s 50% cut to growth
Baha Mar’s delayed opening could potentially slash 50 per cent off the Bahamas’ 2015 economic growth forecast, a well-known businessman has warned.
Gov’t agrees ‘few hundred thousand’ in VAT credits
The Government has approved “several hundred thousand dollars” of Value-Added Tax (VAT) credit refunds, a top official yesterday promising that businesses would not endure “a protracted wait” to receive them.
Hotel union on gratuity ‘red alert’
The Bahamas Hotel Catering & Allied Workers Union (BHCAWU) yesterday said it had placed its members on ‘red alert’, amid fears that other New Providence hotels will attempt to follow Baha Mar’s lead and eliminate the 15 per cent gratuity enjoyed by hotel employees.
Bimini Bay facing homeowners revolt
The Bimini Bay Resort is facing a homeowners revolt in the Supreme Court, with multiple purchasers voicing concerns over how their properties and multi-million dollar maintenance fee sums are being managed.
Atlantis eyes 100k extra room nights in Marriott tie-up
Atlantis is hoping its 10-year franchise deal with Marriott International will generate an extra 50,000-100,000 room nights per year, its top executive describing the agreement as “the most significant tourism stimulus for the Bahamas this decade”.
Pension providers enjoy ‘significant’ 100% inquiry rise
Pension plan administrators yesterday said they had seen a 100 per cent increase in employer inquiries over the past 12 months, describing the surge as “significant” given existing low participation levels.
BTC to complete Abaco cell overhaul in mid-May
THE Bahamas Telecommunications Company (BTC) is set to complete its wireless system overhaul on Abaco and the northern Bahamas by mid-May, giving customers improved cellular service, including faster speeds for downloads and browsing on smart phones.
FINCO in profit boost as bad loans hit $100m
FINCO in profit boost as bad loans hit $100m By NEIL HARTNELL Tribune Business Editor The $5.4 million boost from changes to its loan loss provisioning calculation enabled Finance Corporation of the Bahamas (FINCO) to enjoy a 3.18 per cent net income in
$112m spent with 'no due process'
$112m spent with 'no due process' By NEIL HARTNELL Tribune Business Editor With more than $112 million in public monies spent "without any evidence of due process", the Bahamian Contractors Association's (BCA) president has urged the Government to use t
COMMUNICATIONS REVENUES FALL 7%
By NEIL HARTNELL Tribune Business Editor The Bahamian communications industry's total revenues decreased by 7 per cent year-over-year in 2010, falling from $460 million to $428 million, as the sector's regulator pledged to introduce "universal service ob
Credit union member growth expands 29%
By NEIL HARTNELL Tribune Business Editor Bahamian credit unions have outpaced commercial banks through an average total asset growth rate of 9.25 per cent over the past five years, the Central Bank's governor said yesterday, their collective membership h
Competition fears on Super Value's City Markets 'deal'
By NEIL HARTNELL Tribune Business Editor Rival food retailers have voiced fears that allowing Super Value to acquire City Markets' remaining stores would create a "virtual monopoly" in the New Providence supermarket business, with an estimated 60-80 per
Competition fears on Super Value's City Markets 'deal'
By NEIL HARTNELL Tribune Business Editor Rival food retailers have voiced fears that allowing Super Value to acquire City Markets' remaining stores would create a "virtual monopoly" in the New Providence supermarket business, with an estimated 60-80 per
74% 'PERSONAL' CREDIT IMPEDES DEVELOPMENT
By NEIL HARTNELL Tribune Business Editor The Bahamas' development is being "seriously impacted" because its citizens are unable to invest in key productive areas, such as energy and transportation, due to almost 74 per cent of credit going on 'personal'
BRISTOL PREMIER'S 'BEST OF THE BEST'
By NEIL HARTNELL Tribune Business Editor Bristol Wine and Spirits is aiming to showcase "the best of the best" in its wine and spirits portfolio through next week's 'soft opening' of its one-acre Premier Cru venue on Gladstone Road, its president yesterd
$20-$30M INVESTMENT AT LAST HOTEL CORP HOTEL
By NEIL HARTNELL Tribune Business Editor An Illinois-based investor is eyeing a $20-$30 million investment during the first two phases of its plans to transform the last Hotel Corporation-owned property into an upscale boutique resort, with talks aiming
Bahamasair reduces staff 12% in 5 years
Bahamasair reduces staff 12% in 5 years By NEIL HARTNELL Tribune Business Editor Bahamasair has reduced staff levels through "natural attrition" by more than 12 per cent over the past five years, Tribune Business was told yesterday, while improving its
'GET YOUR POUND OF FLESH IN THE CORRECT ABATTOIR'
By NEIL HARTNELL Tribune Business Editor A leading QC told homeowners embroiled in an ongoing battle with the developers of their $52 million project to "seek their pound of flesh in the appropriate abattoir", rather than trouble Prime Minister Hubert In
FINCO in profit boost as bad loans hit $100m
FINCO in profit boost as bad loans hit $100m By NEIL HARTNELL Tribune Business Editor The $5.4 million boost from changes to its loan loss provisioning calculation enabled Finance Corporation of the Bahamas (FINCO) to enjoy a 3.18 per cent net income in
$112m spent with 'no due process'
$112m spent with 'no due process' By NEIL HARTNELL Tribune Business Editor With more than $112 million in public monies spent "without any evidence of due process", the Bahamian Contractors Association's (BCA) president has urged the Government to use t
