Hitting payment dates key to Baha Mar deal ‘validity’
The Chamber of Commerce’s chief executive warned yesterday that the Baha Mar agreement’s “credibility and validity” will be undermined if creditors fail to receive outstanding monies by the dates the Government has promised.
Govt: Baha Mar operators need to put ‘skin in game’
The Government is demanding that Baha Mar’s casino and convention centre, and associated hotels, by operated by “world class” brands who have injected equity financing into the project, the Prime Minister said yesterday.
ART OF GRAPHIX: Closing the gap on self-critique
Have you ever heard of the term ‘artistic distance’? Well, it is an artist’s tendency to get too close to their creations, and the resulting physical and emotional proximity forms a mental block that prevents them from seeing flaws in their own work.
Tourism 'tempered' says Central Bank
The Central Bank of the Bahamas yesterday said the tourism industry’s output “softened” during the 2016 first half, with the growth rate for stopover arrivals tapering off to 2.7 per cent compared to 2015’s 5 per cent.
Financial sector hit by ‘foot in mouth disease’
A Cabinet Minister yesterday asserted that the Bahamian financial services industry was “not dead”, and said too many were guilty of talking down its prospects.
Customs union in deal closure push
The Bahamas Customs, Immigration & Allied Workers Union (BCIAWU) yesterday urged the Government to “bring closure” to the industrial agreement, dealing with salaries, benefits and allowances, that it has signed off on.
Baha Mar creditors to get ‘about $100m’
The China Export-Import Bank is releasing “about $100 million” to pay out Baha Mar’s Bahamian creditors, Tribune Business was told yesterday, amid continuing distrust over the deal struck by the Christie administration.
Bahamian group in new landfill proposal
A Bahamian consortium of waste service providers has submitted a new proposal to take over management and remediation of the New Providence landfill, as the Government bids to decide the facility’s future direction “in the next few weeks”.
Trade unions branded ‘abusive, destructive’
A well-known Freeport businessman has branded Bahamian trade unions as “abusive and destructive”, and called on the Government to “stop sticking its nose” into private enterprise.
Mortgage Corp bonds eyed to address 2-3k housing waiting list
The Ministry of Finance will meet with the Central Bank this week to discuss whether the Bahamas Mortgage Corporation (BMC) can issue more bonds, with between 2,000-3,000 qualified applicants still on the waiting list for low-cost government homes.
Ex-contractors chief ‘surprised’ if Baha Mar firms made whole
A former Bahamian Contractors Association (BCA) president yesterday said he had “no doubt” that Baha Mar’s main contractor would use its seat on the creditor payout committee to ‘beat down’ the value of local claims.
Minister targets yearly financial law upgrades
Legislation affecting the financial services industry must be reviewed on an almost yearly basis if the Bahamas is to remain competitive, a Cabinet minister said yesterday.
Minister ‘surprised’ at 1,000 Bahamian firms owed over Baha Mar
A Cabinet minister yesterday said he was “surprised” that more than 1,000 Bahamian companies are unsecured creditors of the Baha Mar project.
Minister: No Andros mining plan received
The Government has received no formal proposal for aragonite mining in North Andros, the Minister of the Environment and Housing said yesterday.
Ex-Kerzner executive takes over at Atlantis
Atlantis’s owner yesterday said it had appointed a former Kerzner International officer to replace Paul Burke as the Paradise Island -based resort’s top executive.
