PM warned: $30m Nygard lease will be 'bad precedent'
The Prime Minister has been warned that leasing $30 million worth of Crown Land to Lyford Cay billionaire, Peter Nygard, would set a “dangerous precedent”, given doubts over whether the Government has ever issued approvals for its reclamation.
Bahamian group among four vying for GB casino
TOURISM Minister Obie Wilchcombe said yesterday that the Government was in talks with four potential groups, one a Bahamian company, to take over operations at the Grand Lucayan Resort’s casino from Treasure Bay.
Bahamas 'back in the game' on captive insurers
The international captive insurance industry is “happy to see the Bahamas is back in the game”, a senior private sector executive telling Tribune Business that diversification trends and this nation’s capital/fee requirements provided a potential competitive advantage.
Resort offering guest discounts
Old Bahama Bay Resort & Yacht Harbour is offering visitors up to $300 off any long-term vacation, plus a fifth night free.
MARKETING REVOLUTION: Businesses missing the personal touch
As I go about my day, I frequent a number of businesses. Being a married man with children, it also means I have relationships with businesses that involve my wife and children. Yet here it is. Yesterday, I celebrated my 25th wedding anniversary, yet not one business thanked me for my loyalty by giving me some kind of greeting with a gift.
GB Utility pushes water conservation
The Grand Bahama Utility Company (GBUC) has joined other organizations worldwide in celebration of World Water Day, under the theme, ‘International Year of Water Cooperation’.
Customs key to City Markets HQ
LABOUR Minister Shane Gibson said yesterday he was still awaiting word from the Comptroller of Customs on whether the Department could use the former City Markets head office, adding that he was not sure its acquisition by the National Insurance Board (NIB) would be necessary.
Minister 'shocked' at NIB audit finding
LABOUR Minister Shane Gibson said yesterday that the findings of the National Insurance Board’s (NIB) forensic audit were “worse than I thought they would be”, adding that based on what he had seen thus far amendments to operational policies and procedures were necessary.
Underwater Hollywood 'dives' $375m impact
Diving activities off southwestern New Providence have generated a $376 million economic impact over the past five years, a Bahamas National Trust (BNT) report has estimated, through attracting 70,000 visitors annually.
Sandals in 4-month booking fall-off
BOOKING trends at SANDALS Royal Bahamian are down year-over-year for the next four months, its general manager revealed yesterday, citing this destination’s high cost when compared to Caribbean rival as a major factor in the decline.
Boutique hotel eyed by February Point purchaser
A boutique hotel is among the build-out options under consideration by the likely purchaser of Exuma’s February Point development, with ultimate ownership likely to vest in a consortium of new and existing homeowners at the project.
Bank 'slightly off' $3m profit target
Bank of the Bahamas yesterday said it was “slightly off expectations” of a $3 million half-year profit, largely due to a 189 per cent year-over-year increase in loan loss provisioning.
Reclamation at Nygard Cay 'is worth $25-$30m'
The environmental campaign to ‘Protect Clifton Bay’ seems likely to ignite another round in the ongoing feud between neighbouring Lyford Cay billionaires, Peter Nygard and Louis Bacon.
Baha Mar 'rising to occasion' with 3,277 staff contacts
Baha Mar yesterday said it had already contacted 3,277 potential Bahamian recruits for its $2.6 billion resort, adding that it was confident it would “rise to the occasion” in developing a local workforce.
Cable transitions to own services
Cable Bahamas is switching its own internal phone system over to its REVOICE service, leaving behind the legacy phone service it has been using for the last 18 years.
