BTC owner reinforces Bahamas commitment
The Bahamas Telecommunications Company’s (BTC) majority shareholder effectively hit back yesterday at Prime Minister Perry Christie’s concerns over its asset sales, adding that $749.7 million it would receive for exiting Macau will be ploughed back into its Bahamian - and Caribbean - interests.
Atlantis: ‘Exceptionally strong’ leisure bookings ahead 20%
Atlantis’s leisure visitor business is “showing exceptional strength”, the resort’s top executive has revealed, with bookings for January to-date 19-20 per cent ahead of prior year comparatives.
City Markets pension plan ‘unable to pay $11m’ owed
The City Markets employee pension fund was unable to pay the $11 million owed to beneficiaries as at end-June 2009 “because of lack of liquidity”, a forensic accounting report has alleged.
BISX-listed fund targets 50% cut to vacancy rates
The BISX-listed Bahamas Property Fund is aiming to slash vacancy rates by around 50 per cent at both its flagship properties over the next two years, after seeing its net income for the first nine months last year fall 28 per cent.
World ‘can’t replicate’ multi-billion Freeport infrastructure spend
Freeport is a “Singapore or Hong Kong waiting to be used”, the Grand Bahama Port Authority’s (GBPA) chairman believes, warning that it would be a “travesty” if the Bahamas failed to exploit the city’s existing multi-billion dollar infrastructure investments.
Bazaar owner unware of Association sale plan
A MAJOR owner of Freeport International’s Bazaar said it was unaware that the Association controlling it had placed the property up for sale, but told Tribune Business: “We welcome anyone who would want to buy it.”
Environmentalist: Oil will change Bahamas instantly
Wall Street will “immediately revise” its opinion on the Bahamian economy’s prospects and fiscal outlook if commercial quantities of oil are discovered in this nation, a local environmental expert believes.
Worker health can't be ignored
Well, it is flu season, and many people are deciding whether or not to make an appearance at work or remain safely tucked in bed.
BTC to ‘leverage Internet market lead’ through TV
The Bahamas Telecommunications Company (BTC) is aiming to use its new TV product “to gain a market leading Internet position”, its chief executive yesterday saying the company should never have let its broadband share drop to 25 per cent.
Bahamas ‘nightmare’ if no Baha Mar visitor increase
The Bahamas faces “a nightmare” if Baha Mar’s opening in 2015 fails to increase stopover visitor numbers, Atlantis’s top executive warning such a scenario would spark “a rate war” and drive hotel sector salary levels to “unsustainable” levels.
CJ’s concerns over $3m City Markets pension deal
The now-Chief Justice had concerns over the deal that saw City Markets’ employee pension fund invest $3 million in a sale-and-leaseback deal over the now-defunct supermarket chain’s assets, saying he was “troubled” that the plan involved 25 per cent of the fund’s assets.
Atlantis group bookings pace up 132% for ‘15
Atlantis’s 2015 group booking pace is up 132 per cent, its top executive said yesterday, with the Paradise Island resort’s booking for the past three months “off the charts”.
‘Game changing’ water park to create 100 jobs
A “game changing” beach and water park is set to create 75-100 permanent jobs in Freeport once constructed, the Grand Bahama Port Authority’s (GBPA) chairman yesterday saying the project would be “pretty mega”.
PM’s concerns over CWC’s Europe sale
PRIME Minister Perry Christie yesterday questioned why the Bahamas Telecommunications Company’s (BTC) majority owner had decided to divest its European holdings, as he hinted that the option of renationalising the carrier was open to the Government.
Atlantis chief: $14m Air Fare credit ‘unsustainable’
The $14 million spent annually on the Air Fare Credit initiative is “unsustainable”, Atlantis’s senior executive warned yesterday, with the hotel industry looking at dipping into “anticipated 2014 funding” by March to continue supporting it.
