Gov’t botches land purchase
The Government has again been found guilty of failing to follow its own statute laws, with the Supreme Court overturning its acquisition of land worth $1.23 million that was seized for a public park in Pinewood.
$100m Cable offer oversubscribed on its launch day
Cable Bahamas’s $100 million preference share issue was oversubscribed on its first day, but Bahamian institutional investors were yesterday urged to continue buying in as the company will “take what it can get”.
Kozeny suffers $22m asset seizure reverse
Lyford Cay financier, Viktor Kozeny, has suffered a reversal in the New York state courts that potentially paves the way for the Czech authorities to seize $22 million of his assets.
Port to bar unsafe trucks from June 1
The Arawak Port Development Company (APD) is gearing up to launch a June initiative that will benefit safety standards at both the Nassau Container Port and on New Providence’s streets.
Port to generate $5.8m for Gov't
The Nassau Container Port is projecting that it will generate $5.8 million in ‘top-line’ revenues for the Government in the year to end-June 2014, with the company having slashed its annual financing costs by $500,000.
Bahamas among Caribbean tops for non-bank resort lenders
The Bahamas is among the “most favoured” Caribbean jurisdictions for non-bank hotel industry financiers, with lenders expressing some concern that the $2.6 billion Baha Mar project may create room inventory over-capacity.
Gov't releases 23 housing contracts
The Ministry of Housing has issued 23 contracts to Bahamian companies to complete the build-out of Strachan’s Hill Estates, after receiving $2.5 million in initial financing.
Immigration confirms its private pilot 'violation'
IMMIGRATION director William Pratt said yesterday that private pilots would incur overtime fees outside of normal work hours, regardless of whether they were flying for pleasure recreational purposes.
Finance guru backs mandatory pensions
A world-renowned personal finance expert yesterday backed the Government’s drive to make pensions mandatory in the Bahamas, and added: “You can still save yourselves from a financial nightmare.”
$20m construction furore shows Contractor Bill need
THE Government was yesterday urged to implement procurement policies consistent with best international practices, a leading contractor charging that there was absolutely nothing in place to protect the public’s investment.
Retailers: Consumers to receive port fee pass-on
BAHAMIAN food retailers said yesterday that any tariff rate increase by the Nassau Container Port will ultimately be passed on to consumers, charging that the facility’s monopoly position as New Providence’s sole port left importers with “nowhere else to go”.
PM to headline Andros Outlook
Prime Minister Perry Christie will deliver the keynote address at the third annual Andros Business Outlook, which is scheduled to take place on May 15 at Love at First Sight Hotel & Restaurant in Stafford Creek.
Female mariner shares industry experiences
In an industry dominated by men, Sandy Campbell, one of a handful of female merchant mariners in the world - and one of 15 in the Bahamas - has made it her mission to share the joys, challenges and triumphs of the profession with high school students and young adults.
Arawak Port tariff rise 'likely' July 1
The Nassau Container Port will likely increase its tariff rates by July 1, but its top executives say the private sector is unfairly blaming it for 30-40 per cent freight cost increases.
Fidelity 'reverses' banking outsource
Fidelity Bank (Bahamas) has bucked the commercial banking sector’s overseas ‘outsourcing’ trend by consolidating back office operations in the Bahamas, a move that increased staff numbers by 6 per cent in 2013.
