'Minimal' tourism impact from hotel casino robbery
THERE has been “minimal” impact thus far for the Bahamas’ international tourism reputation over the botched Atlantis heist, Tourism Minister Obie Wilchcombe said yesterday, telling Tribune Business: “It hurts the Bahamas any way you put it.”
GB Power, PHA seek financing millions
The Bahamian capital markets are gearing up for a busy fall/winter season, Tribune Business has been informed, with both the Public Hospitals Authority (PHA) and Grand Bahama Power Company seeking multi-million dollar financings.
Bahamas in world top eight with 100% KYC compliance
THE Bahamas is among just eight nations whose financial services providers achieved a 100 per cent Know Your Customer (KYC) compliance score in establishing ‘shell companies’, giving the jurisdiction’s regulatory and integrity reputation a major boost.
30% boat ownership gives broker 'uplift'
A BAHAMIAN boat/yacht broker has been on a continuous “upswing” since entering the niche just 18 months ago, its founder telling Tribune Business that with “30 per cent” of residents owning a vessel the sector had “huge potential”.
BFS deal: Require 25% stake sale to Bahamian investors
THE Government must ensure a minimum 25 per cent equity stake in Bahamas Food Services (BFS) is sold to the Bahamian public if it approves the company’s purchase by Sysco, a prominent businessman also warning it to guard against a food wholesale monopoly.
$2.7m spending boost from new cruise route
ROYAL Caribbean Cruise Lines’ new Fall 2013 route from New Orleans to Nassau could inject an extra $2.7 million in passenger spending into the Bahamas, a Ministry of Tourism official telling Tribune Business the additional calls could bring in nearly 25,000 passengers.
BTC's 2010 separated account audit 'qualified'
ALL key Bahamian communications industry players are opposed to using the Bahamas Telecommunications Company’s (BTC) historical cost data as the basis to set its future interconnection charges, with the newly-privatised carrier admitting auditors were unable to give its 2010 separated accounts a clean bill of health.
COLUMN: The right time for a change
DO YOU ever feel like you have insufficient time within a business day to complete all of the tasks assigned? Perhaps you join the thousands of business professionals who are consumed and inundated with work overload.
Atlantis see eight per cent Fall booking rise
SEVERAL major Nassau-based hotel properties are expecting a successful fall 2012 season, with an Atlantis executive telling Tribune Business its bookings for the season were expected to be 8 per cent ahead of 2011 numbers.
$50m 'hit' fear from roadworks
COCONUT Grove Business League (CBGL) spokesman, Ethric Bowe, has estimated that the overall financial “hit” from the Blue Hill Road and Market Street roadworks could ultimately exceed $50 million.
BTC fearing $1.5m foreign revenue loss
The Bahamas Telecommunications Company (BTC) fears proposals to lower its mobile call termination rate will slash its international revenues by up to $1.5 million annually, reducing its ability to invest in infrastructure and benefit Bahamians.
Accountant concern over AML inspection agent end
Bahamian accountants yesterday expressed concern over the Securities Commission’s decision to stop using them as its anti-money laundering (AML) inspection agents from 2014, a former BICA president describing the move as “incomprehensible”.
‘Eye opener’ on hotel’s 23 per cent supply saving
A Bahamas-based logistics and supply chain management firm yesterday said it is “opening up the eyes” of local firms to major freight and transportation savings, having reduced a “major hotel’s” costs by 23 per cent.
Construction mortgages slump 25% during Q2
A 25 per cent contraction in mortgage disbursements during the 2012 second quarter has further highlighted the weak construction and local real estate market, although the Central Bank of the Bahamas said there were signs of a modest uptick.
Gov’t urged: ‘Do a Margaret Thatcher’ to cut BEC overtime
The Government was yesterday urged to “do a Margaret Thatcher” on the Bahamas Electricity Corporation (BEC) and its workforce, a former Board member telling Tribune Business this was “the only way” to slash its $12 million annual overtime bill.
