GB Shipyard lauds 'very successful' cruise season
Grand Bahama Shipyard has described its now-closed cruise ship ‘repair season’ as “extremely successful”, having docked 16 ships, a number that is set to increase to 17 for 2012-2013.
Baha Mar hotel's rates are 'not good enough'
The Nassau Wyndham Resort’s “mid-$90s” room rates are “not good enough” and between 23-30 per cent below where they need to be, a Baha Mar executive yesterday conceding that the guest experience was being impacted by construction work on the $2.6 billion Cable Beach expansion.
Colina Fund aiming to grow assets up to $5m
COLINA Real Estate Fund’s president yesterday said he was aiming to grow its asset base by up to $5 million, or more than 40 per cent, over the next five years as its moves to expand its property portfolio and diversify rental income streams.
‘Right at the point’ of Old Bahama Bay deal
The owners/developers of some 500 acres at Grand Bahama’s West End are “right at the point” of concluding an agreement with the Old Bahama Bay resort’s 73 condominium owners, Tribune Business was told yesterday, with the deal said to involve a former executive at the property.
Hotels await ‘strong’ July 4
SEVERAL major Nassau-based hotel properties told Tribune Business yesterday they were seeing strong occupancy levels for this week’s July 4 US Independence Day holiday.
Baha Mar to ‘skyrocket’ Arawak port’s volumes
The Nassau Container Port (NCP) is expecting container throughput volumes to “skyrocket” by an extra 200-300 per week come August/September 2012 as a result of the Baha Mar project, Tribune Business was told yesterday, with its associated Gladstone Freight Terminal set for a July 15 opening.
GB Power: $80m plant to further lower outages ‘cut in half’ during 2011
Grand Bahama Power Company’s (GBPC) $80 million West Sunrise plant has started operations with a workforce that is 92 per cent Bahamian, the monopoly power provider yesterday saying it would further improve reliability following a year in which outages were “cut in half”.
Accountants meet World Bank, global Federation executives
Three members of the Bahamas Institute of Chartered Accountants’ (BICA) Council met with representatives of the International Federation of Accountants (IFAC) and the World Bank during the 2012 Caribbean Conference of Accountants in Antigua.
NAD’s ‘strong position’ on customer satisfaction
THE Nassau Airport Development Company (NAD) said yesterday that it was holding a “strong position”, a recent customer satisfaction survey giving it a score of 4.05 out of 5.
Gov't 'underestimates' liabilities by 'millions'
THE Government's antiquated accounting system means it is massively underestimating its true liabilities by millions of dollars, a leading accountant telling Tribune Business this means key indicators like an already-bad 56 per cent debt-to-GDP ratio, are, in reality, much worse.
Insolvent broker: $2.76 owed by affiliates 'could alter significantly'
THE sums owed to Owen Bethel's insolvent Montaque Capital Partners by affiliated companies "could differ significantly" from the initial $2.76 million estimate, liquidators for the Bahamian broker/dealer have warned, as they continue to also probe deals linked to Mr Bethel's family.
Port chair: 'Good' progress' in $225m World Mart talks
THE Grand Bahama Port Authority's (GBPA) chairman believes "good progress" was made in meetings with the principals behind the $225 million World Mart trade market proposed for Freeport, adding that there were "a lot of good signs out there" for the city's economy.
Bimini developer in 90% occupancy goal
BIMINI Bay's principal expects to see occupancy levels at the multi-million dollar resort and marina reach 85-90 per cent through the addition of its $24 million luxury boutique casino and the imminent Balearia ferry service, telling Tribune Business: "We have survived."
Contractors take 'leadership role in the Caribbean'
THE Bahamian Contractors Association (BCA) is taking "a leadership position in the Caribbean" to develop a region-wide industry certification programme, its past president fearing they will otherwise be "left out in the cold" by requirements such as 100 per cent performance bonds.
GB Power: Base raten rise offset by efficiency gains
GB Power: Base raten rise offset by efficiency gains Grand Bahama Power Company (GBPC) says the $0.03 base rate increase set to be imposed on consumers under its new tariff structure will be offset by fuel savings resulting from efficiencies generated by
