Receivers deny Fosun is Baha Mar’s buyer
Baha Mar’s receivers yesterday denied that the Chinese-based Fosun Group had been selected as the preferred bidder for the $3.5 billion project.
Gray told to back up BAMSI claims
The Opposition’s deputy leader yesterday challenged the Minister of Agriculture and Marine Resources to “substantiate” his claim that BAMSI has reduced the Bahamas’ food import bill by $100 million or otherwise resign.
Government debt issuing shake-up
The Central Bank has regained the lead role in the issuance of domestic Government debt, amid plans for “important modernisations” in how it is priced and investor ownership tracked.
Racing to issue $30m bonds for CLICO payout
The Government and its financial advisers are racing to implement the second phase of the CLICO (Bahamas)payout by the promised end-September deadline, even though some policyholders are reluctant to accept the bonds that will be offered.
Attorney’s $100k Fidelity Bank theft ‘a sad case’
The Appeal Court’s president has branded the two-year prison sentence for a veteran attorney, who stole $100,000 from Fidelity Bank (Bahamas) in a mortgage transaction, as “indeed a sad case”.
Baha Mar payout process ‘bodes ill for future FDI’
The Baha Mar creditor payout process “bodes ill for the Bahamian economy’s future” because it discriminates against foreign investors and businesses, an outspoken QC has warned.
‘How the hell’ can taxpayers receive Potter’s Cay return?
Opposition politicians are questioning “how the hell” the budget for Potter’s Cay’s upgrade has increased four-fold, while expressing concerns over whether Bahamian taxpayers will get a return on their investment (ROI).
Blackbeard’s developer in ‘court abuse’ claim
Environmental activists have accused the $12 million Blackbeard’s Cay developer of “an abuse of court” by initiating a separate legal action to block the Supreme Court verdict requiring the project’s closure.
Baha Mar staff told: ‘Take it or leave it’
Baha Mar’s 2,000-plus former employees have been bluntly informed that their end-September payouts will be made on a “take it or leave it basis”, with little room for them to dispute the compensation offered.
BREA chief supports Quieting Act reform
The Bahamas Real Estate Association’s (BREA) president yesterday backed calls for this nation to both establish a Land Registry and reform the Quieting Titles Act to prevent widespread real estate fraud/theft.
Bahamian ‘hacker’ could have cost music artist $6m
A Bahamian ‘celebrity hacker’ could have cost an international pop artist $6 million in lost sales had he made good on threats to reveal half the songs on their new album prior to its release.
New Sandals staff ‘too scared’ to join trade union
A former hotel union leadership contender believes re-hired Sandals Royal Bahamian staff will be too scared to join a trade union, and described August’s 592-strong termination as “clearly union busting”.
IAN FERGUSON: Developing deep roots over customer service
If one were to ask the average businessman what they believe to be one of the main, or critical, components that helps to ensure a business’s success, I am certain the term ‘customer service’ will be among the top responses. Given that this is so vital to the success of the enterprise, it is surprising that the average business fails to meet this standard.
Potter’s Cay overhaul may reach $12m cost
Potter’s Cay’s total redevelopment may cost $12 million if the Government fully approves plans for the area’s overhaul, it was announced last night.
Island Luck in deal for web shop rival
Island Luck is awaiting regulatory approval for the acquisition of the rival Bahama Dreams web shop chain, Tribune Business can reveal, the first consolidation to occur in the newly-legalised industry.
