Baha Mar contractors must be ‘made whole’
THE Attorney General yesterday said the Government was resolute that Bahamian contractors “are made whole” for work completed at Baha Mar, amid increasing anxiety over what the project’s newly-announced receivership will mean for local creditors.
No more toxic BoB loans for Resolve - yet
BAHAMAS Resolve has yet to be “formally asked” to remove more toxic loans from Bank of the Bahamas, amid calls from the latter’s irate shareholders for the Central Bank to “intervene” and take over its operations.
Baha Mar takeover threat to Atlantis’s top investor status
THE FNM’s deputy leader has expressed concern that Atlantis’s ‘Most Favoured Investor’ status, and the Bahamas’ economic sovereignty, could be jeopardised by the Chinese state’s takeover of Baha Mar.
Bran: Bank needs $4bn outlay to finish Baha Mar
The Democratic National Alliance’s (DNA) leader believes the China Export-Import Bank will have to increase its investment to near $4 billion to open Baha Mar, as he warned of “a nightmare” facing Bahamian creditors and investors.
BUSINESS ANALYSIS: Government, China get their desired Baha Mar end
Bank’s takeover raises fresh economic sovereignty questions, writes Neil Hartnell
Babak’s ‘duty’ to get best price for GBPA
Hannes Babak yesterday said he owed the late Sir Jack Hayward a duty to “get the best possible price” for his family’s 50 per cent Grand Bahama Port Authority (GBPA) stake, otherwise he would not have opposed its purchase by the world’s largest asset manager.
Baha Mar: ‘No happy ending’ for Chinese
A former Baha Mar director yesterday predicted there would be “no happy ending” for the Chinese should they ultimately take over the $3.5 billion project, amid suggestions that Sarkis Izmirlian had made an offer to stave off a full winding-up.
Early Xmas present via 15-16% LPG cut
The Price Control Commission yesterday gave hard-pressed Bahamian consumers an early Christmas present by lowering the maximum retail price for 100 pound liquefied propane gas (LPG) cylinders by up to 16.3 per cent.
‘Ad hoc’ taxation stifling economy
The Government was yesterday urged to stop the “ad hoc” imposition of new taxes, amid warnings that its National Health Insurance (NHI) financing plans will cause “a further contraction” of the private sector.
Ex-BREA chief ‘back to his roots’ with $40m project
A two-time Bahamas Real Estate Association (BREA) president yesterday unveiled a $40 million investment intended to help revive his family’s ancestral home, via a project that will create 40-50 construction jobs at “peak speed”.
Airline warns Bahamas over high ticket taxes
JetBlue has delivered a stark warning to the Bahamas that its relatively high ticket tax burden may prompt it to reduce airlift capacity into Nassau.
IAN FERGUSON: Steps for business success during 2016
As the month of October comes to a close, the planning process for most businesses is being tidied up by conscientious owners. They are not taking a gamble on success in 2016 but, instead, are being very deliberate in ensuring success.
Arawak Port warns of 48% profits fall
Arawak Port Development Company (APD) has effectively delivered a profits warning to shareholders, projecting that net income for its 2016 financial year is likely to fall almost 48 per cent year-over-year.
Port purchaser targeted 2,000 hotel room boost
A Grand Bahama Port Authority (GBPA) purchaser wanted to double the island’s hotel room inventory by 2,000 rooms, and was even interested in negotiating with the Government to privatise Bahamasair.
‘Red flags raised’ for all investors
Opposition MPs yesterday said the Bahamas’ latest slide in the world ‘ease of doing business’ rankings “flies in the face” of Government pledges, while “raising red flags” for potential investors.
