Baha Mar ‘ignoring Supreme Court refusal to recognise Chapter 11 cases’
A BAHAMIAN judge’s refusal to recognise Baha Mar’s Chapter 11 proceedings and orders has been described by China Export Import (EXIM) Bank as “detrimental” to the bankruptcy cases and an “insurmountable obstacle” for the developer, as it called for their immediate dismissal.
Turnquest: Financial services sector job losses 'most worrisome'
THE LOSS of employment, particularly in financial services sector, highlighted in the Labour Force and Household Income Survey was described yesterday as “most worrisome” by the Opposition finance spokesman.
Warwick plans $18m transformation of Paradise Island Harbour Resort
WARWICK International is investing “north of $18 million” as it undertakes renovations to transform the former Paradise Island Harbour Resort which it acquired in 2012, a senior executive of the international hotel chain said yesterday.
FATCA compliance 'will strengthen financial services industry'
FINANCIAL Services Minister Hope Strachan said yesterday that the landscape of the country’s financial services industry would be strengthened as a result of the nation’s compliance with the tax information exchange agreements such as the US Foreign Account Tax Compliance Act (FATCA), saying that she was fairly satisfied that The Bahamas would be ready when the Act becomes effective in September.
Rolle: “SMEDA will help but needs to go further”
STATE Minister for Investments Khaalis Rolle said yesterday that the Small and Medium Sized Enterprises Development Agency (SMEDA) would be launched in tandem with the National Development Plan, stating that under its current design “it won’t go as far as we need it to go”.
Bahamas ‘strewn with rotting remains of failed resort projects’
AN outspoken QC has described anchor project developments as the “bane” of the Bahamas, claiming that due to the secrecy of Heads of Agreements the Family Islands are now “strewn with the rotting remains of dozens of failed resort ventures”.
Baha Mar secures $15m for ‘approved and budgeted’ expenses
BAHA Mar has secured nearly $15 million in debtor-in-possession (DIP) loans to meet approved and budgeted expenses, despite failing to secure the requisite government approvals.
Baha Mar dispute is damaging investment reputation, says Turnquest
THE Opposition’s finance spokesman yesterday called for ‘civility’ in the ongoing public spat between the Christie administration and Baha Mar developer Sarkis Izmirlian, warning that the country’s reputation in the international investment arena could be jeopardised.
‘Grand Bahama is sinking’ through lack of investment
GRAND Bahama needs greater autonomy and leadership that can capitalise on the tax base, attract more investors and help current investors expand according to a prominent local businessman who told Tribune Business: “Grand Bahama is just sinking”.
Doctors Hospital ready to initiate fecal transplant programme
THE president of Doctors Hospital said yesterday that that the BISX-listed health care provider was gearing up to start its next medical tourism initiative in three to four weeks, having secured the requisite approvals to conduct its fecal transplant programme.
BOB to close Thompson Boulevard branch on August 31
BANK of The Bahamas Ltd (BOB) has announced that its Thompson Boulevard branch will close from August 31, 2015, and its portfolio will be transferred to the Harrold Road branch on the Tonique Williams-Darling Highway. No jobs will be lost.
ART OF GRAPHIX: Make an impact on social media - #eyecatchingdesign
HAVE you ever wondered about the significance or impact of graphic design imageries and videos in social media?
Obese, overweight workforce hits productivity and profit, study finds
NINETY per cent of the Bahamian workforce is either overweight or obese according to a study by a local fitness and consulting firm, its principal telling Tribune Business that the lack of a corporate wellness and fitness culture was significantly lowering workplace productivity and ultimately impacting businesses’ bottom line.
$2m boost in hotel room revenues for Grand Bahama
GRAND Bahama is showing significant improvements in hotel room revenue, which has hit $16 million this year - a $2 million increase over 2014, according to tourism officials.
Ocean Club set for renovations closure, staff issues settled
ACCESS Industries and Kerzner International, the owners and operators of the One&Only Ocean Club, said yesterday that all staffing transitions related to the renovation and planned service enhancement at the resort have been completed, adding that no further changes were anticipated other than scheduling staff for time off during the August/September closure period.
