‘No way’ Ingraham would have run $550m deficit
A former FNM Cabinet minister yesterday said there was “no way” an Ingraham administration would have run up the current government’s projected $550 million deficit, telling Tribune Business that “sobriety” was needed to restore the Bahamas to fiscal balance.
Bay Street: New tenants saw 1/3 rental discounts
BAY Street landlords had to discount rental rates by one-third at the recession’s height to attract new tenants, a leading realtor telling Tribune Business the market had since “pretty much stabilised”.
36% of 'major' hotels at risk from sea rise
More than one-third of “major” Bahamian hotels will be impacted by just a one metre sea level rise, with a regional study calling for “serious and urgent” action to address the likely climate change impacts on this nation.
Baha Mar to hit $48.2m milestone this week
BAHA MAR executives believe they will this week unlock the Government’s $48.2 million contribution to Cable Beach infrastructure works when the third, and final, stage of the casino hotel reaches 100 feet above grade.
Lyford Hills eyes 100% solar 'powered townhome complex'
DEVELOPERS of the 100-acre Lyford Hills community will this week submit plans for a six-unit townhouse complex that will be totally solar powered, while aiming to save $5,000-$6,000 per month in energy costs by running all community facilities off renewable energy.
How a woman's touch can aid the workplace
FOR many years now, women have fought for equality in the workplace.
Doubt cast on $300m BEC plan
THE Bahamas Electricity Corporation’s (BEC) former executive chairman has cast doubt on whether his successor will be able to raise the $300 million financing he is seeking, telling Tribune Business its balance sheet “cannot support any significant borrowing”.
BFS purchase by Sysco ‘best thing that can ever happen’
A leading retailer yesterday backed any potential acquisition of Bahamas Food Services (BFS) by the multi-billion dollar Texas-based giant, Sysco, as potentially “the best thing that ever happened to the food services industry in the Bahamas”.
Ex-Robin Hood chief targets $1.75m revival
Robin Hood’s former principal is aiming literally to ‘rise from the ashes’ by re-opening his former Prince Charles Drive store before Christmas 2012, a move he yesterday said would require a $1.75 million investment and create around 170 jobs immediately.
Manufacturer: Duty removal puts ‘5% of gross’ back into firm
A well-known manufacturer yesterday said eliminating the 10 per cent duty rate levied on the sector would put the equivalent of “5 per cent of gross sales” back into his business, a sum that could mean the difference between survival and death for some firms.
Homeowners Bill still ‘shoots risk through the roof’
Bankers yesterday expressed fears that the re-named Homeowners Protection Bill would result in the Bahamas’ own ‘credit crunch’ if passed into law as is, with Tribune Business told there were no “material changes” from the first draft.
AML sees Back to School sales rise by ‘couple of points’
AML Foods chief executive has told Tribune Business that the BISX-listed retail group’s same-store sales for the Back to School season were up year-over-year by “a couple of points”, adding: “We’ve got a nice momentum right now.”
Plan for asking the really hard questions
The Australian Aboriginal peoples have a tradition they call ‘walkabout’, where they enter dreamtime and seek advice from ancestral spirits.
Bahamas still suffering ‘negative’ real growth
The Bahamian economy is still contracting in real terms, a key Ministry of Finance adviser said yesterday, adding that the Government’s Air Fare Credit policy was “unsustainable” and had failed to generate compensating returns.
Brewery targets Florida export market for 2013
The Bahamian Brewery & Beverage Company is targeting early 2013 to break into the Florida export market with its Sands beer, a move its founder anticipates will create another 10 jobs initially.
