Stock market 'most promising it's looked for three-four years'
The Bahamian stock market’s current position is “the most promising it’s looked for three-four years”, a leading investment banker said yesterday, recovery having started in February 2012 after the long-standing oversupply of ‘Sell’ orders was eliminated.
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Hotels see little impact from Isaac
New Providence hotels reported no significant impact from Tropical Storm Isaac, with executives at several major properties telling Tribune Business yesterday they saw minimal cancellations due to the storm.
'Positive interest’ in 307 Baha Mar luxury residences
BAHA MAR has seen “positive interest” in its 307 luxury residences offering thus far, a senior executive said yesterday.
80% tourist share a Quality 'bonus'
Super Value’s president yesterday said his first Quality Supermarket had received “a little bonus” through tourists generating 80 per cent of sales, telling Tribune Business he expected the Cable Beach site to be “profitable from day one”.
'Very difficult' for Bahamas to take more premium rises
Bahamian homeowners and businesses are unable to absorb further increases in catastrophe-related property insurance premiums, a leading insurer acknowledged yesterday, as the industry kept a wary eye on Tropical Storm Isaac’s potential impact on the US Gulf Coast.
Ex-minister slams BTC claims as 'utter rubbish'
A former state finance minister yesterday blasted as “utter rubbish” his predecessor’s assertion that the Bahamas Telecommunications Company’s (BTC) privatisation was “flawed”, and warned that “the big prize” - communications sector liberalisation - was now under threat.
Marina chied enjoys 25% summer boost
MARINA operators have seen an increase in business over summer 2012, with the Marina Operators of the Bahamas president (MOB) yesterday telling Tribune Business his Great Harbour Cay Yacht Club and Marina had seen a “phenomenal summer” with a 25 per cent business increa
Bahamas can become 'dominant trade hub'
The Bahamas can become a “dominant trade hub”, the minister for financial services and investments said yesterday, adding that rules-based trading agreements could protect certain industries from ‘dumping’ and other unfair practices.
Airlines working to clear storm backlog
AIRLINE executives were working feverishly yesterday to alleviate the heavy backlog caused by Tropical Storm Isaac, with one executive telling Tribune Business his carrier had suffered an estimated $70,000- $80,000 revenue loss.
No government decision yet over FATCA compliance
The MINISTER of Financial Services yesterday said the Government has made no decision on what approach the Bahamas would take over the US Foreign Account Tax Compliance Act (FATCA), and whether it would sign a government-to-government agreement to protect the sector.
'Perfect storm' drops broker's volumes by 50%
A Bahamas-based broker/dealer yesterday said it had resorted to pay and working hour cuts to combat a 50 per cent decline in trading volumes, adding that Immigration policies were making it hard to attract top-quality traders.
$1.4bn project denies commitments failure
Developers of the $1.4 billion Baker’s Bay Golf & Ocean Club have vehemently denied accusations they “haven’t lived up to their commitments” to the local community under the project’s Heads of Agreement, and pledged to complete facilities such as a public beach park within the next 12 months.
Cruise spending up 52% in Nassau
CRUISE passenger spending in New Providence is up roughly 52 per cent for 2012 to-date, according to a senior Ministry of Tourism official, who estimated that cruise arrivals would increase 5-10 per cent year-over-year.
Project predicts 100 new jobs in 3 months
The Baker’s Bay Golf & Ocean Club project is expecting to create another 100 construction jobs within the next two-three months, its developers telling Tribune Business they expected to invest another $25-$30 million in infrastructure build-out up until 2015.
