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A Bahamian realtor says he has “never seen such high rental rates” as now exist in some of western New Providence’s most upscale communities with demand in this segment now suppressing available-for-sale inventory.
Many hotel staff worked “unprecedented” five-day weeks during the tourism season’s slowest months, a union leader revealed yesterday, as he bids to complete multiple new industrial agreements in early 2023.
THE Central Bank yesterday appeared to concede that fees for payment services were too high and “require legitimate redress”, a view shared by 78 per cent of Bahamians.
* Claim trustees ‘not acting in our best interest’ * Trustees retain 27% of $3m sale to AML Foods * And lawyer paid almost one-third of proceeds
City Markets pensioners have been “kept in the dark” over the $3 million sale of the plan’s main asset, with just 30 per cent of the proceeds seemingly left for their benefit.
David Kosoy’s Sterling Global Financial is in negotiations to acquire Paradise Island’s Hurricane Hole property from Atlantis’s owner, Tribune Business can reveal.
Some $720,000 in oil exploration license fees that were paid to the Bahamas Government are being targeted by a Cayman-based liquidator, who has written to two Cabinet ministers seeking their assistance in recovering the funds.
Trying the $1.1 million damages claim against Jamie Dingman's failed Nassau restaurant empire in New York will be "a waste of judicial resources", a former Cabinet minister is arguing.
A Cabinet Minister yesterday urged environmental activists to be “balanced and responsible” when launching legal actions against legitimate developers, warning that these could deny Bahamians much-needed “economic benefits”.
The world’s second largest cargo shipper has warned Bahamian companies that their imports will be delayed “until the next sailing” if manifests are not made for compliance with Bahamas Customs’ new requirements.
A former Baha Mar director yesterday warned that the Government will soon “have a huge white dinosaur on their hands”, despite the project’s secured creditor promising that a solution is being developed.
Two Bahamian insurance companies are in negotiations to acquire CLICO’s Turks & Caicos business, Tribune Business can reveal, with the deadline for the cancellation of the insolvent insurer’s local medical policies just two weeks away.
A BEC union leader yesterday said he had no concern over the integrity of its preferred management partner due to assurances given by the Government, telling Tribune Business: “It is what it is”.
The Bahamas Electricity Corporation's (BEC) prospective manager has dismissed as "fraud by hindsight" claims that it artificially inflated its stock price prior to a one-day wipe-out that erased $250 million in shareholder value.
The Bahamas needs “five Baha Mars going on” simultaneously to achieve the 5.5 per cent GDP growth necessary to slash existing unemployment by 50 per cent and absorb thousands of annual school leavers into the workforce.
The Lyford Cay Club is moving to close a $17 million deal to acquire its old shopping centre from New Providence Development Company, with plans to convert it into a mixed-use retail, residential and marina project.
Atlantis was yesterday said to be “savouring” its completed $1.9 billion debt refinancing, its owner having invested some $500 million in the property since taking control two years ago.
The Government has been urged to end its "ridiculous foot dragging" over the Bahamas Electricity Corporation's (BEC) part-privatisation and wider energy reform, as the private sector readies its own study on the issue.
Rival Bahamian-led bids with strong Andros connections are battling to acquire the last government-owned hotel, Tribune Business can reveal, with at least one proposal focusing on eco-tourism. Prescott Smith, owner of Stafford Creek Lodge, confirmed to Tribune Business that he was heading one group seeking to buy the Fresh Creek-based Lighthouse Club from the Government-owned Hotel Corporation of the Bahamas.
THE Bimini Big Game Club Resort & Marina's owners have unveiled as new logo design that will represent the 51-room property in all future marketing and branding initiatives.
By NEIL HARTNELL Tribune Business Editor A prominent businessman has again urged the Securities Commission to "become involved" and ensure the prospectus for the $10 million Arawak Cay initial public offering (IPO) is amended to confirm that the 20 per c