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.
Govt given road map to $2bn pension cuts
The Government could reduce its combined civil service and public corporation pension liabilities by more than $2 billion come 2032, provided it enacts reforms to prevent a major financial and social crisis.
CCA’s Baha Mar creditor committee ‘conflict’ slammed
The Opposition’s deputy leader yesterday slammed the ‘conflict of interest’ created by the inclusion of a senior China Construction America (CCA) executive on the committee that will handle Baha Mar creditor payouts.
$30m ‘game changer’ target for Freeport
A realtor is hoping innovative marketing will enable him to succeed where others have failed in selling Freeport’s $30 million Xanadu Beach Resort, describing a successful deal as “a game changer” for the city.
BOB non-compliant with 80% of regulatory ratios
Bank of the Bahamas shareholders are being asked to “throw good money after bad”, with the BISX-listed institution now non-compliant with four out of five key Central Bank capital ratios.
NewCo2015 seeks 25% higher charges for call termination
The Bahamas Telecommunications Company (BTC) has begun battle with its new mobile rival more than a month before the latter launches, with the two differing sharply over its initial termination rates.
Union leader dismisses Sandals Judicial Review
The Trades Union Congress (TUC) president has dismissed a Judicial Review launched against a trade union by Sandals Royal Bahamian, arguing that it has no impact on its position as the recognised bargaining agent for the resort’s line staff.
Unions team to drive employment reforms
The Bahamas’ two leading trade union bodies have joined forces to develop a draft Bill proposing changes to the Employment Act and the Industrial Relations Act.
Baha Mar details a ‘moving target’
The Opposition’s deputy leader yesterday said the agreement to pay Baha Mar’s creditors and complete its construction appears to be a “moving target”, adding: “The Bahamian people are on the hook for something”.
Union is ‘hoping’ for Sandals meet Friday
Trade union and Sandals representatives are expected to meet with Prime Minister Perry Christie on Friday in a bid to resolve ongoing disputes, with one union leader describing it as “‘very important day”.
