Bahamasair targets 8% loss reduction
BAHAMASAIR is aiming to reduce its net loss by $1.7 million or 8 per cent during the upcoming fiscal year, the Deputy Prime Minister conceding that much remains to be done to make the national flag carrier fully efficient and less dependent on taxpayer.
'Green light' for City Meat store re-opening
SUPER Value's president yesterday said the refitting of City Markets' former Cable Beach store was "green lighted and a go", with the location's re-opening - targeted for this month - set to create around 60 jobs.
$1bn project eyeing revival
EFFORTS are being made to revive a former $1 billion resort project cited by ex-Prime Minister Hubert Ingraham as a key factor in firing his then-minister of housing, Ken Russell, Tribune Business can reveal.
Dispute over City Markets severance
ANOTHER dispute has arisen over the calculation of severance packages for more than 300 former City Markets, Tribune Business was told yesterday, with claims that the now-closed supermarket chain's majority owners were basing payouts on reduced work weeks.
AID at 85-90% of pre-fire sales
MAJOR construction on Automotive Industrial Distributors' (AID) new Wulff Road headquarters should be completed within eight months, the company's operations manager yesterday told Tribune Business that the company's sales had recovered to 85 to 90 per cent of pre-fire levels.
Safeguards against 'sinister' liquidations
CHANGES to Bahamian insolvency law will prevent directors/shareholders from putting companies into voluntary liquidation for "sinister reasons", a leading accountant yesterday arguing that the amendments bring this nation "into line with model international law".
Capturing tourists before they arrive on our shores
IMAGINE this. John Smith lives in Minnesota. The winter has been tough, the job stressful, and so he decides to plan a cruise to the Caribbean. He e-mails his friend to ask him if he and his wife want to accompany him. Then he Googles 'cruises to the Caribbean'.
Copper thefts hurt 400 BTC customers
BAHAMAS Telecommunications Company (BTC) executives said yesterday that service to hundreds of Grand Bahama-based mobile and fixed-line customers had been disrupted due to copper thieves targeting the company's sites across the island, a development also placing a "dark cloud" over the scrap metal industry.
'Ingraham used cash to target me'
MICAL MP V Alfred Gray accused former Prime Minister Hubert Ingraham of trying to remove him from Parliament - and using the public purse to do so.
Stopover tourists up 5-7% through August
THE Ministry of Tourism is predicting that stopover visitors through to end-August 2012 will increase between 5-7 per cent year-over-year, although it said yesterday that leisure travellers were some 66,000 down for the first two months of the year when compared to pre-recession levels.
$13m in claims slash insurer's profits 70%
Insurance Company of the Bahamas (ICB) yesterday said it was “not too despondent” over 2011’s 70.5 per cent drop in net income, telling Tribune Business its $1.16 million bottom line was “pretty reasonable” in a year when it incurred $13 million in gross catastrophe claims.
Baha Mar 'close' to $150m spend on Bahamians
BAHA Mar is "close" to investing $150 million with Bahamian contractors for its Cable Beach redevelopment, as it prepares to today launch the $2.6 billion project's 300 luxury Residences to high net-worth buyers from across the world in London.
BTC Chief 'optimistic' over 51% stake talks
THE Bahamas Telecommunications Company's (BTC) chief executive said yesterday he was "cautiously optimistic" over the outcome of impending talks between the head of its 51 per cent majority owner and Prime Minister Perry Christie.
BCB's $1m liability if copyright deal payment missed
ALMOST $1 million in forgiven debt could be "reinstated" as a liability for the Broadcasting Corporation of the Bahamas (BCB) if it fails to pay the final $500,000 installment on a copyright settlement, its former chairman said yesterday.
Trinidad 'circumventing' Bahamas courts on CLICO
THE US attorney for CLICO (Bahamas) liquidator yesterday said the move by the insolvent insurer's Trinidadian affiliate to examine his client appeared to be "an effort to circumvent" court proceedings in the Bahamas.
