City Markets staff ‘reject’ partial $1.4m payout offer
FORMER City Markets employees have “outright” rejected a $1.4 million severance pay offer, a group spokesman said yesterday, telling Tribune Business their attorneys plan to challenge a debenture which effectively makes the Finlayson family-owned majority shareholder the primary creditor.
Insurer enjoys top-line growth ‘over 20% in 2012
A Bahamian insurer yesterday said it had enjoyed top-line growth of “over 20 per cent” in 2012, suggesting that its strategy of focusing on large accounts with “good quality risks” was paying off.
Bahamas ‘grew’ stopover market share during 2012
Hotel industry leaders yesterday disputed Moody’s assertion that the Bahamas had lost stopover visitor market share to Caribbean rivals, saying this nation “held or slightly increased” its share in 2012 - a year that 1.35 million air arrivals made the best since 2008.
Arawak Port chief: Fees ‘in line’ with Caribbean
THE Nassau Container Port’s charges are “in line” with those levied by Caribbean ports of similar size, with Arawak Port Development Company’s (APD) chief executive yesterday saying its 20-foot equipment unit (TEU) landing fees were cheaper than Barbados and almost level with the Cayman Islands.
BTC enjoys 28,751% mobile data growth
The Bahamas Telecommunications Company (BTC) yesterday said it was committed to investing “more than $100 million” in upgrading its communications infrastructure, adding that its mobile data traffic had increased 28,751 per cent since its 4G network launched in December 2012.
Society critical for education direction
The Bahamian education system’s quality is a matter of great concern, and has sparked much debate about where the responsibility lies for making it better.
Opposition blasts Govt’s economic ‘smoke and mirrors’
THE Government needs to articulate a clear strategy for reviving the Bahamian economy, the Free National Movement’s (FNM) chairman believes, arguing that the Christie administration’s approach appears to be a “combination of smoke and mirrors” without specifics.
GB Power targets 42% profits rise for 2013
Grand Bahama Power Company (GBPC) is projecting that its net income will “improve significantly” by 42.1 per cent this year, rising to $12.331 million on the back of cost efficiencies and its ‘return-based’ tariff structure.
Arawak Port blamed for 30-48% Tropical Shipping fee rises
A MAJOR shipping company yesterday blamed fees levied by the new Arawak Cay Port for its decision to increase container landing charges by between 30-48 per cent, causing one retailer to tell this newspaper: “It’s cheaper to hire a cargo plane and fly your products in.”
Bahamas financial firms on opposite side of lawsuit
Two Bahamas-based financial services providers have become embroiled on opposite sides of a lawsuit relating to the alleged “gross mismanagement” of a former $100 million investment fund.
BTC outage report’s veiled CWC criticism
The Bahamas Telecommunications Company (BTC) breached a key condition of its licence during last June’s island-wide network outage, regulators said yesterday, levelling implicit criticism at majority shareholder Cable & Wireless Communications (CWC).
Burger King upgrades to boost ‘all aspects’
BURGER KING (Nassau) is set to undergo a major revamp that will include infrastructure upgrades and an array of new menu options set to launch this month.
Stiffening your design resolve
Henry Ford said, and I quote: “Failure is simply the opportunity to begin again, but this time more intelligently.” Another year has come as we bid farewell to 2012. And with every New Year come new resolutions. Some people embrace the concept, while others pale at the thought altogether.
Alert raised over land disputes
The London-based Privy Council has reiterated concerns that the Bahamas’ Quieting Titles Act can be used to steal land, saying it was “no accident” that it has heard numerous title disputes from this nation.
Wipe out’ fears over $1.3m Oceania purchases
A property owner at the controversy-torn Oceania Heights development is alleging that he has been unable to recover his late father’s $1.318 million investment, and wind-up his estate, because the developers have failed to release title documents/conveyances to him.
