Lyford Cay financier 'vanishes' in $22m battle
Controversial Lyford Cay financier, Viktor Kozeny, has responded to attempts by the Czech authorities to seize $22 million of his alleged assets by seemingly ‘vanishing’, attorneys denying he has any ownership interest in the company to which the funds belong.
Resort brand eyes seven-eight strong Bahamas portfolio
Guy Harvey Outpost is looking to brand three-four more properties and take its collection of Bahamian resorts to between seven and eight, a co-founder yesterday saying it had established a northern Bahamas “trifecta” through its agreement with Old Bahama Bay.
Gov't probes firsttime buyer Stampduty complaints
A key Ministry of Finance adviser yesterday said he had asked government officials to probe whether there was “any merit” in complaints that the first-time buyer Stamp Duty exemption was being misinterpreted, agreeing that the situation might need to be clarified.
No relief for more than 3,000 delinquent mortgage borrowers
THE Clearing Banks Association (CBA) estimates that roughly 800-1,000 delinquent mortgage borrowers could benefit from the Government’s relief plan, but its chairman yesterday acknowledging that there were more than 3,000 who, “in all likelihood”, would not benefit from the initiative.
SEC levies fraudcharge againstFreeport resident
A Freeport resident has been charged by US regulators with perpetrating a securities fraud that increased two companies’ stock prices by 600 per cent and 300 per cent respectively.
West End becomes the latest Bahamas Outpost
The Old Bahama Bay Resort and Yacht Harbour yesterday became the third northern Bahamas addition this year to Guy Harvey Outpost Resorts’ Expedition Properties Portfolio, via a branding and marketing agreement.
Business advice is a free gift
While studying for my MBA at the University of Liverpool, I was introduced to a variety of celebrated business names.
Mortgage plan 'what Banks already doing'
THE Government’s mortgage relief plan is “not in conflict” with current bank lending practices, according to Clearing Banks Association chairman Nathaniel Beneby Jr, who added that most of what was in the plan “banks have been following in any event”.
Government eyes 'cap' on salary deductions
THE Clearing Banks Association’s (CBA) chairman yesterday said the Government’s proposed Borrowers Protection Bill aimed to put a “cap” on salary deductions, noting that a company would only be able to approve a certain percentage of a person’s wage to go towards loan payments.
Bahamas and US move to counter piracy
US Chargé d'Affaires, John Dinkelman, and US State Department specialists met Bahamian officials yesterday to launch talks on counter-piracy cooperation in cases involving Bahamian flagged vessels.
IDB: $65m road project loan finally approved
THE Inter-American Development Bank yesterday finally approved the $65 million in supplementary financing for the troubled New Providence Road Improvement Project (NPRIP), noting that the estimated overall final cost to complete the construction works was in the order of $190.9 million.
Retailers find Back to School sales flat
BACK-to-school sales for 2012 were relatively flat in comparison to last year, according to retailers, one telling Tribune Business: “It was business as usual”.
Brookfield 'not interested' in selling Atlantis
The Brookfield Asset Management executive directly responsible for the Atlantis and One & Only Ocean Club resorts yesterday moved to end speculation it was seeking an exit route, saying the company was “not interested in selling” the flagship Paradise Island resorts.
Cable still facing 'shortfall' despite 27% rate increase
Cable Bahamas believes its proposed 27% basic cable TV rate increase is the only way to “safeguard the product’s financial viability”, having predicted that the shortfall below its 10.86 per cent capital return target would “double” for 2011.
Storage becomes a flash driver
Thumb drive, mobile drive, jump drive, fish stick..... These are the many names for memory storage devices, which have long eclipsed the floppy disk in terms of storage capabilities.
