GB Chamber chief: ‘Selectively open Immigration gates’
Grand Bahama needs 20,000-30,00 extra residents immediately to sustain its economy, its Chamber president urging the Bahamas to “selectively open the Immigration gates”.
Creditors seek $1.1m Dingman default verdict
Bahamian creditors abandoned by Jamie Dingman’s failed Nassau restaurant empire this week urged a New York federal court to grant a $1.113 million default judgment in their favour, after no defence was filed against their claim.
Web shops urged: Recognise GBPA license authority
The Grand Bahama Port Authority (GBPA) was yesterday said to desire an amicable resolution of its legal disputes with two web shop chains, provided they recognise its “jurisdiction as the sole licensing authority for Freeport”.
PM slams strike threat at Grand Lucayan hotel
PRIME Minister Perry Christie yesterday slammed trade unionists for threatening an imminent strike at Freeport’s Grand Lucayan resort, arguing that such action “makes no sense” if the workers’ best interest was their priority.
PhamChem: $120m expansion to double Bahamian jobs
PharmaChem Technologies will break ground at month’s end on a $120 million expansion that will double the Bahamian workforce and increase the plant’s output value by 67 per cent.
PM ‘20-30 years’ too late on legal opening demand
The Prime Minister’s call for the Bar Association to ‘open up’ to specialised foreign attorneys is 20-30 years past its sell-by date, a Bahamian financial services practitioner said yesterday.
IAN FERGUSON: Maximising resources for greater efficiencies
Effective resource management is a priority for all companies seeking to maximise profit margins, retain top talent and increase customer satisfaction.
PM: Grand Lucayan sale a ‘positive step’
Prime Minister Perry Christie said yesterday that the Government views the impending sale of the Grand Lucayan as a “positive step forward”, with major hotel and casino investors and operators potentially creating “renaissance in Grand Bahama tourism”.
Capital market boost from Depository site
The Bahamas Central Securities Depository’s (BCSD) new website will allow shareholders to have instant access to critical information on Bahamian publicly-traded companies, its president telling Tribune Business that educating and informing investors is key to growing the capital markets.
80% Parliament backing needed for spending rise
Fiscal Responsibility legislation must “make it extremely difficult” for the Government to exceed Budget spending forecasts, an outspoken businessman yesterday demanding that any increase require at least 80 per cent Parliamentary approval.
Atlantis: 30 managers laid-off in restructure
Atlantis and senior government officials yesterday gave different explanation’s for its termination of 30 middle management staff, with the resort attributing the move to a restructuring exercise.
Water Corp success costs supplier $8.1m
Consolidated Water’s Bahamian revenues have decreased by more than $8 million over the past two years, as the Water & Sewerage Corporation’s leak and loss reduction programme bears fruit.
Doctor criticises ‘God-like powers’ of NHI Authority
The “God-like powers” granted to the proposed National Health Insurance (NHI) Authority by draft legislation were yesterday criticised by a well-known doctor, who said it did not represent “a comprehensive National Health Plan”.
Gov’t warned: Don’t ‘eradicate headroom’
The Government was yesterday urged by a former finance minister to ensure it does not “eradicate any borrowing headroom” should a national emergency strike.
FINCO holds off dividend despite profit up 10-fold
Despite an almost 10-fold net profit increase in 2015, FINCO’s Board is citing the earnings “volatility” produced by “unacceptably high” bad mortgage loans and low growth as the rationale for no year-end dividend payment.
