AML bracing for 10-15% rise in freight costs
A BISX-listed food retail group yesterday warned it had budgeted for freight costs to increase by 10-15 per cent in 2012, telling Tribune Business it was also being held back by price controls that were "not needed in this day and age".
AML aims to 'double' its net profit margin
AML Foods is aiming to double net profit margins to 4 per cent, its chief executive telling Tribune Business yesterday that it was targeting year-over-year top-line growth of 16.4 per cent to $115 million for its current financial year.
Bahamas First suffers $6.5m bottom line hit
BAHAMAS First Holdings' (BFH) chief executive yesterday expressed concern about the "unprecedented" level of fire claims the general insurance group incurred in 2011, telling Tribune Business that together with Hurricane Irene-related losses these produced a collective $6.5 million bottom line hit.
City Markets staff 'want to have cake and eat it, too'
CITY Markets principal, Mark Finlayson, in addressing employee concerns over compensation packages, yesterday said the "primary" issue in negotiating the sale of the five-store chain was saving jobs, telling Tribune Business the situation was different in Freeport where severance payments would have to be made.
Arawak Port gets BISX listing nod
THE Bahamas International Securities Exchange (BISX) last night announced that the listing application submitted by the Arawak Port Development Company had been formally approved by its Listing Committee, with the firm added to those listed on the exchange.
Eliminate the red eyes picture sore
YOU have lined up the group in a great location, and you have taken a ton of fabulous pictures. Then you browse through the camera and notice that half of them have bright red glowing eyes.
Business goes on 'defensive' over URCA dispute
A GRAND Bahama businessman said yesterday that he was going on the "defensive", after the Utilities Regulation and Competition Authority (URCA) issued an order prohbiting the use of his assigned radio spectrum. He told Tribune Business he would wait for the communications regulator to take him to court.
E-commerce firm targets 200-250k clients in a year
A BAHAMIAN E-Commerce company is aiming to attract 200,000-250,000 persons to its electronic and mobile commerce market within the next 12 months, a company executive said yesterday, telling Tribune Business it would have 25 retail outlets by the end of May 2012 part of its phased roll-out.
BEC slashes accounts receivables by $14m
THE Bahamas Electricity Corporation (BEC) has cut its accounts receivables by $14 million over the past six months since September 2011 to a current $129 million, its executive chairman told Tribune Business yesterday.
Supreme Court freezes assets in $160m 'fraud'
THE Supreme Court has been busy over the last four months issuing asset freeze and document production Orders relating to an alleged $160 million international fraud, which has involved - albeit unwittingly - a Bahamian-domiciled investment fund and accounts at a well-known international bank.
Merchant market can 'revolutionise' local economy
THE Bahamas Trade Commission's co-chair yesterday threw his backing behind the proposed AsiaMart merchant emporium in Freeport, telling Tribune Business it could "revolutionise" the Bahamian economy and create "astronomical" benefits for local retailers, manufacturers and other entrepreneurs.
AsiaMart clients to 'take up 75%' of GB hotel capacity
AsiaMart clients to 'take up 75%' of GB hotel capacity By NEIL HARTNELL Tribune Business Editor The proposed merchant trade market for Freeport will "take up" 75 per cent of Grand Bahama's existing hotel room inventory, one of its directors implying it
Airline 'holding back' on Florida
WESTERN Air's chief executive yesterday said the airline was "holding back" on plans to move into the saturated Florida aviation market, telling Tribune Business the carrier was operating at 78 per cent load factors domestically.
Aviation promoted to Florida's pilots
BAHAMIAN student, Marie Irene Ajero, presents an artistic hand painted aviation chock to the president of the Florida Air Museum, John Burton, at the recent Sun N' Fun Aviation Show in Lakeland, Florida.
Regulator links with BFSB for insurance conference
THE Bahamas Financial Services Board (BFSB) and the Insurance Commission of the Bahamas (ICB) are in Philadelphia this week attending a major global insurance conferencem, RIMS 2012.
