Sunshine Holdings ‘tests water’ for $20m
Sunshine Holdings is “testing the waters” with a $20 million preference share offering, its chairman revealing that the proceeds will be used for balance sheet restructuring.
Anxious wait over $30m Xanadu sale
The Xanadu Beach Resort’s owner is anxiously waiting to see whether the property’s $30 million sale to a US-based entrepreneur can be closed, Tribune Business can reveal.
Gov’t restructures issue timetable for new $200m security
The Government has restructured the timetable for issuing $200 million worth of new securities to Bahamian investors, after deciding to take $20 million in extra subscriptions to the latest tranche.
Bahamas urged: Make firms tell clients of data breaches
The Bahamas has been urged to introduce a law that would force companies to inform clients whenever a data security breach puts their personal information at risk.
Business ‘support’ for minimum wage rise
Private sector support for increasing the minimum wage is growing, a leading executive says, although it wants a free labour market to still “rein” in the Bahamas.
‘Heritage comes first’ for tourism’s revival
The National Art Gallery has increased annual visitor numbers more than six-fold within three years, its director telling a nation urgently seeking new tourism markets: “Heritage comes first.”
Hilton owner: Downtown decision needed quickly
The British Colonial Hilton’s new owner yesterday urged the Government to “make a decision” quickly on its proposed masterplan to revitalise the whole of downtown Nassau, suggesting the area could become a “Bahamian Riviera”.
Renew set May 1 date for full capacity recycling
NEW Providence’s landfill management said yesterday that it expects its new recycling facility to be completed and operating at full capacity by May 1, describing the recent fire at the site as more of a “distraction” rather than a setback to the company’s overall operations.
Out Islands pay ‘3 times’ Nassau shipping costs
The Family Islands are paying greater than “three times’ the cost” faced by Nassau-based businesses to ship in essential cargos and construction materials, a leading shipping executive yesterday warning this was retarding their economic development.
Carnival spending can bring $20m boost
BAHAMAS National Film Festival Commission chairman Paul Major said yesterday that between now and May the organisation is projected to spend an estimated $5m in the local economy resulting in a projected gross domestic product (GDP) impact of just over $20m.
Work permit rules tightened, residency costs to rise
PEOPLE applying for work permits will soon have to ensure that they also obtain health insurance and adequate housing for their workers according to Foreign Affairs Minister Fred Mitchell.
IAN FERGUSON: How our behaviours both help and hurt
GEORGE Santanya wrote that those who do not know their history are doomed to repeat it. This statement is just as true today as it was when he penned the words.
Bahamians to take 70 per cent of future Chinese-led project jobs
PRIME Minister Perry Christie said yesterday that during his recent trip to China he had effectively called for a “new paradigm” relative to the number of Chinese labourers involved in Chinese-led projects and developments in The Bahamas, noting that projects such as the British Colonial Hilton would call for a majority Bahamian workforce.
Gov’t, web shops at odds on ‘back taxes’
The Government and web shop industry are at odds over how the sector’s ‘retroactive taxes’ are to be calculated, with the proposed method seen as “inconsistent” with both the Gaming Act and international norms.
$42.5m Gov’t bond issue ‘50-60% oversubscribed’
The Government’s latest $42.5 million bond offering was expected to “at least 50-60 per cent oversubscribed”, its lead arranger told Tribune Business yesterday afternoon, just hours before its close.
