Regulation to aid 50% construction market ‘salvage’
A former Bahamian Contractors Association (BCA) president yesterday expressed hope that moves to regulate the sector will help “salvage” the 50 per cent market portion seized by foreigners.
Court ‘erred’ on ‘unfiled evidence’ in Baha Mar claim
The Supreme Court allegedly “erred” in relying on “unfiled evidence” from Baha Mar’s receivers to reject Sarkis Izmirlian’s bid to acquire the $192 million damages claim against the project’s contractor.
Moody’s now challenges Govt over debt ratios
Moody’s is now questioning another key fiscal projection by Prime Minister Perry Christie’s government, warning that the Bahamas’ uncertain outlook makes it hard to forecast how high - and when - the debt-to-GDP ratio will peak.
Cable targets 14 per cent EBITDA growth - without NewCo
Cable Bahamas yesterday disclosed it is targeting a 14 per cent compound annual growth rate (CAGR) in earnings before taxation over the next five years - a goal that excludes potential benefits from its stake in the nation’s second mobile provider.
Union to Govt: Force Cable into industrial talks
The Government was yesterday urged to use its temporary majority ownership of the new mobile operator to “force” Cable Bahamas into industrial agreement negotiations, amid warnings that failing to do so would cost it votes.
Bank chief’s warning on ‘government interference’
Fidelity Bank (Bahamas) chief executive has warned that “government interference” threatens to impact industry profitability, especially should it move ahead with a revised Homeowners Protection Bill.
Correspondent de-risk requires ‘back up plan’
The dangers presented by correspondent bank ‘de-risking’ must be “carefully managed”, the Central Bank’s governor has warned, urging Bahamas-based institutions to ensure they have a “back-up plan”.
800 job applications for new mobile player
Cable Bahamas had received around 800 applications for jobs with the nation's second mobile provider by end-last week, it was revealed yesterday, and is confident the new operator can beat its financial targets.
Receiver dismisses 'uninsurable' Baha Mar allegations
Baha Mar's receiver yesterday dismissed claims by firebrand FNM MP, Dr Andre Rollins, that the $3.5 billion development is both "uninsurable" and will cost a further $1.8 billion to complete.
Ex-minister: Dingman case 'waste of judicial resources'
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.
Govt 'out of' new mobile operator by early September
The Government's short-lived majority ownership of the Bahamas' second mobile provider will end in early September, when it is replaced by private capital via an offering set to launch next month.
Buyers 'pull back' on Moody's threat
International buyers are "pulling back" due to uncertainties caused by Moody's threatened downgrading of the Bahamas to 'junk' status, realtors have warned.
Mortgage finance 'biggest hurdle' to housing recovery
Mortgage financing access remains "the biggest hurdle" to reviving the domestic real estate market, causing up to three deals for the same property to fall through.
Chamber chief says 'space for third mobile operator'
The Bahamas Chamber of Commerce's chief executive believes "there is space for another mobile player", and is urging the Government to issue a third licence come 2019.
‘No way’ Bahamas can be cut to junk
There is “no way” that Moody’s can cut the Bahamas to ‘junk’ status because it is still meeting all its debt obligations as they become due, a former finance minister argued yesterday.
