Sumner repeats call for government capital injection into fund
THE Bahamas Entrepreneurial Venture Funds vice-chairman said yesterday that he was “quite pleased” with the fund’s current performance and repeated calls for the government to double its annual capital injections.
Consolidated leaks 18% bulk water revenues in second quarter
BULK Water revenues by BISX-listed Consolidated Water for the second quarter of 2015 fell by 18 per cent compared to the same period the previous year, led by a $1.2 million revenue decrease from its Bahamian operations.
Baha Mar pleads to strike out ‘baffling’ opposition to bankruptcy
Baha Mar has urged a Delaware Court to strike out a motion by China Construction America (CCA) Bahamas and China Export-Import (CEXIM) Bank calling for the dismissal of its Chapter 11 bankruptcy cases, stating that it was “baffling” that both parties have failed to explain how the creditors would fare better in a winding-up action in this jurisdiction.
Butler’s Food World considers move to new location
A prominent Grand Bahama businessman said yesterday that he was mulling whether to reopen his food retail business in another facility or repair his former outlet which had suffered $100,000 of damage due to vandalism.
Baha Mar director says Chinese should drop guarantee demands
A Bahamian businessman and Baha Mar director yesterday blasted as “nonsensical” and “commercially crazy” the instance of a ‘back-to-back’ guarantee from the developer to cover a $400 million refinancing package, arguing that if the China Export Import Bank (CEXIM) insists on the retention of China Construction America (CCA) as the general contractor then it should also insist on a guarantee from its parent or drop the requirement.
September launch for Small Business Help Desk
The Chamber of Commerce is aiming to launch its Small Business Help Desk early next month, describing it as “crucial” to the development and survival of small and medium-sized enterprises throughout the country.
Baha Mar ‘is entitled to uncover Gov’t ‘collusion’
Baha Mar is “entitled to discover the extent of co-ordination and collusion” between its Chinese partners and the Christie administration in their opposition to the developer’s Chapter 11 bankruptcy protection filing.
Bank slams Baha Mar’s ‘inflammatory’ conspiracy allegation
Baha Mar’s main financier has slammed as “inflammatory” claims that it was engaged in a ‘conspiracy’ with the Government to oust the developer and Izmirlian family from the $3.5 billion project.
NHI economic fears branded ‘non-existent’
The Government’s main National Health Insurance (NHI) advisers have described as “non-existent” fears that the scheme’s implementation will negatively impact the Bahamian economy, arguing that the current system was “more damaging”.
PM ‘mixing apples and oranges’ over GB Treasury input
An outspoken QC has accused the Prime Minister of “mixing apples and oranges”, arguing that the Government’s obligation to finance infrastructure and social services in east and west Grand Bahama “has absolutely nothing to do with Freeport”.
Advisers acknowledge ‘scepticism’ over NHI
The Government is hoping to enroll 65 per cent of Bahamians in the National Health Insurance (NHI) scheme by April 2016, although its main advisers acknowledged the “scepticism” surrounding any commercial venture run by the public sector.
China: Baha Mar conspiracy claim is ‘preposterous’
Baha Mar’s contractor yesterday described as “preposterous” claims by the developer that it was involved in a ‘conspiracy’ with the Christie administration to oust the Izmirlian family from the $3.5 billion project.
‘Absolutely absurd’: NHI architect slams insurer takeover fear
A key Government adviser yesterday said it was “absolutely absurd” for Bahamian private health insurers to fear that the proposed National Health Insurance (NHI) scheme would result in the ‘complete nationalisation’ of their industry.
Insurers ‘compared apples with oranges’ on NHI cost
The Bahamas Insurance Association (BIA) was yesterday accused of “comparing apples with oranges” over its estimates of National Health Insurance’s (NHI) total costs, a key government adviser suggesting it was resistant to “dramatic but necessary change”.
Hilton to be Nassau boardwalk ‘catalyst’
Prime Minister Perry Christie yesterday said the Government and Bay Street property owners are “ready and willing” to move forward with plans for a boardwalk along Nassau’s harbourfront, describing the British Colonial Hilton’s expansion as the “catalyst” for the project.
