Ex-Feb Point staff in $380k Xmas gift
Ex-February Point employees received an early Christmas present after its prospective new owner paid off $380,000 worth of debts, with the property’s sale projected to complete early in the New Year.
South Ocean disposal eyed for January end
The sales process for New Providence’s South Ocean resort is expected to conclude next month, with the Government said to be pressurising its Canadian pension fund owner to accept a New York developer’s “incredibly good offer”.
Family Island resorts suffer mixed Xmas
OCCUPANCIES at Out Island resorts for the Christmas period and into the New Year appear to be mixed, with one major property forecasting strong performance, while another said its guest business was in the
Bank chief reassures clients and investors
Bank of the Bahamas’ (BOB) managing director has reassured customers and its 4,000-plus shareholders that it has a robust capital position matched by adherence to “sound banking principles that are consistently tested and validated by internal and external authorities to ensure the highest standards of prudence.”
US: Bimini developer 'victim of own choice'
The US government has urged that Resorts World Bimini’s attempt to save its night-time cruises be dismissed, at it is asking the courts for permission “to violate [US] law to maximise profit and reduce losses from bad business decisions”.
Bad loans hit $1.34bn
Bahamian commercial banks suffered a further credit quality deterioration in November, as delinquent loans increased by $23.5 million to a new $1.343 billion record.
Liquidators pledge recognition of $83m Alliance investments
One group of liquidators for an alleged multinational Ponzi fraud yesterday denied claims they would not recognise investors who placed $217 million into it via a Bahamian broker/dealer.
Bimini casino gains 'double tax break'
Resorts World’s $150 million Bimini expansion project is set to benefit from a ‘double casino tax break’, after the Government permitted it to deduct airport and island infrastructure upgrade costs from these payments.
Receiver has concerns over revenue trail
An Abaco development’s receiver is alleging that operational revenues were not being deposited into its bank accounts, while lot sales to clear a previous debt may have been more than five times’ undervalued.
Bloomberg anchor to address BFSB Summit
Bloomberg TV anchor, Adam Johnson, is a featured speaker at the Bahamas Financial Services Board’s (BFSB) 2014 International Business & Finance Summit (IBFS), scheduled for January 23-26 at Sandals Emerald Bay Resort in Exuma.
Parking woes limit Bay Street's Xmas
BUSINESS for many Bay Street retailers this Christmas season was described yesterday as being “fair”, with some merchants lamenting that the continued lack of adequate parking in the downtown district continues to deter Bahamian shoppers.
BFSB summit to focus on women
A panel discussion at the Bahamas Financial Services Board’s (BFSB) 2014 International Business and Finance (IBFS) Summit will focus on Bahamian women in the global workforce and the impact they are having.
'We are closing because of VAT'
A well-known businessman has told his retail staff to begin looking for new jobs before the business closes by mid-2014, blasting: “We are not doing VAT.”
AML eyes non-food retail sales 'north of 25%'
AML Foods is aiming for non-food retail sales to comprise “north of 25 per cent of our sales mix”, in the hope that diversification will counter Value-Added Tax’s (VAT) potential impact.
AML fears for New Year after 'awful' September
AML Foods has serious “concerns” for its early 2014 performance, following a September that its chief executive described as “easily our worst month” since he took the post six-seven years ago.
