'Over 250k room night' boost from $18m credit
The Bahamas has generated "over 250,000 room nights" for the Nassau/Paradise Island destination alone during the past year via an $18 million investment in airfare credit promotions, the director-general of tourism yesterday saying he was "bullish" on the industry's outlook.
Auto dealer: 'My worst month for four years'
A BAHAMIAN auto dealer yesterday said May 2012 was "my worst month in probably four years" for new car sales, despite the industry as a whole seeing a 5 per cent rise in completed deals.
Atlantis chief eyes winter 'stimulus'
ATLANTIS'S top executive yesterday expressed optimism that the Bahamas' upcoming fall/winter 2012 airfare credit would "really stimulate bookings" during peak periods for the hotel industry, after the flagship Paradise Island resort saw a 10 per cent slowdown in its summer booking pace.
'Unhappy players' to drive insurance consolidation
THE Insurance Advisory Commission's (IAC) chairman yesterday predicted that consolidation will occur among Bahamian general insurance carriers within the next two-three years, arguing that the industry's 2011 average Return on Equity (RoE) of 3.6 per cent meant "there must be some unhappy players".
Don't nationalise healthcare, BAF chief warns Gov't
THE Government was yesterday warned not to completely nationalise healthcare in the Bahamas, the Insurance Advisory Commission's (IAC) chairman also expressing concern that post-CLICO over-regulation would deter insurers from providing "savings-type products".
Get your market right on target
I LIKE the saying: "You can't disguise a bad message, no matter how much you dress it up". There are many businesses who wish that their goods or services can appeal to everyone, and prefer skipping the planning segment to get right into design, not knowing that it takes time and patience to design the "right message" that will reach the "right people".
Haiti outlines prospects for Bahamians
HAITI'S tourism and construction sectors provide significant opportunities for Bahamian businesses, it was revealed during a recent presentation hosted by the Haitian Embassy in conjunction with the Bahamas Chamber of Commerce and Employers' Confederation (BCCEC).
Minister confirms Gov't bond issue
MINISTER of State for Finance, Michael Halkitis, yesterday confirmed the imminent launch of a Bahamas Government Registered Stock (BGRS) issue, telling Tribune Business it was very likely it would come out early next month when the new fiscal year began.
Bahamas 'maximises' Customs duties yields
THE Bahamas is running out of additional revenue sources, Prime Minister Perry Christie said yesterday, adding that he believed the country had achieved the "maximum" yield from Customs duties.
Cost impediment to roads reversal
COST will be a major factor in the Government's decision on whether or not to reverse the one-way traffic system on Baillou Hill Road and Market Street, a government official telling Tribune Business yesterday that the impact it would have on traffic management also had to be taken into consideration.
Gov’t committed to roads compensation
The MINISTER of State for Finance, Michael Halkitis, said yesterday that the Christie administration was holding to its pledge to provide some compensation for those businesses impacted by the New Providence Road Improvement Project (NPRIP), telling Tribune Business the Government was going to have to find creative solutions given the current fiscal situation.
AML targets $150m top-line by Jan '14
AML Foods "will be pushing" $150 million in annual group sales within 18 months, its chief executive told Tribune Business yesterday, aided by a $20 million contribution from its newly-announced Solomon's Fresh Market store at the Harbour Bay Shopping Centre.
Gov't to unveil $200m bond
THE Government is preparing to launch a mammoth $200 million Bahamas Government Registered Stock (BGRS) issue next month, financial industry sources have confirmed to Tribune Business, as it bids to cover its projected $550 million GFS deficit for the upcoming 2012-2013 fiscal year.
Super Value chief 'forging ahead' in 3-store takeover
SUPER Value's president yesterday said he was "forging right ahead" with the takeover of three former City Markets' locations, having put out "bids" for the re-equipping of the South Beach and Seagrapes sites, as he told Tribune Business: "We're aiming to be number one."
Private sector 'concerned' over large deposit levies
BAHAMIAN businesses were yesterday said to be "gravely concerned" about increased banking costs after CIBC FirstCaribbean International Bank (Bahamas) became the latest institution to charge a fee for handling large deposits, a move some banks say is intended to encourage greater security.
