DNA chief: Atlantis deal requires 20% annual profit rise
By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE management agreement between Kerzner International and Atlantis' new owners requires the Paradise Island resort to increase profits by up to 20 per cent each year, Democratic N
DEAL FOR TWO NASSAU HOTELS FALLS THROUGH
By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net PLANS for the sale of two Nassau hotels have fallen through due to "financing issues", a source close to the situation confirmed to Tribune Business yesterday. Canadian investors R
IDB: BAHAMAS' $1BN INFRASTRUCTURE GAP
By NEIL HARTNELL Tribune Business Editor The Bahamas has medium-term infrastructure needs of $1 billion, an Inter-American Development Bank (IDB) report has revealed, blaming the Government for "under investment" in the sector that has failed to keep up
CONSTRUCTION 'JUST AT THRESHOLD' OF REBOUND
By NEIL HARTNELL Tribune Business Editor The construction industry is just at "the threshold of recovery" from the global recession, the Bahamian Contractors Association's (BCA) president telling Tribune Business yesterday that estimates of a 3.5 percent
Extra weekend fuel costs hurt airliness
By NATARIO MCKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE BAHAMIAN aviation industry was dealt another blow over the New Year's Day holiday weekend, with widespread delays resulting in extra fuel costs, Tribune Business was told yester
COMMISSION URGED TO ACT ON $10M PORT PROSPECTUS
By NEIL HARTNELL Tribune Business Editor A prominent businessman has again urged the Securities Commission to "become involved" and ensure the prospectus for the $10 million Arawak Cay initial public offering (IPO) is amended to confirm that the 20 per c
COMMUNICATIONS REVENUES FALL 7%
By NEIL HARTNELL Tribune Business Editor The Bahamian communications industry's total revenues decreased by 7 per cent year-over-year in 2010, falling from $460 million to $428 million, as the sector's regulator pledged to introduce "universal service ob
BAHAMAS OUT OF STEP ON 'INFORMATION AGE'
By NEIL HARTNELL Tribune Business Editor The Bahamas must retool its economy and workforce to offer an expanded services menu including software development and retirement homes, the Chamber of Commerce and Employers Confederation's (BCCEC) chairman sugg
CONSTRUCTION & MANUFACTURING: 8,800 JOBS LOST IN 3-YEAR PERIOD
By NEIL HARTNELL Tribune Business Editor The Bahamas lost a total 8,870 jobs in its construction and manufacturing industries between 2007-2010 as a result of the global recession, a United Nations (UN) Body has reported, with per capita GDP only now beg
FUND 'BELOW PAR' AFTER 50% VACANCY CUT FAILURE
By NEIL HARTNELL Tribune Business Editor The Bahamas Property Fund's failure to cut the 20 per cent vacancy rate at its flagship Bahamas Financial Centre by half meant its 2011 performance fell "slightly below expectations", although last May's Bahamian
Atlantis takeover 'best thing that ever happened'
By NEIL HARTNELL Tribune Business Editor Brookfield Asset Management's ownership takeover at Atlantis and the One & Only Ocean Club has been described by a leading accountant as "the best thing that ever happened for the Bahamas". Raymond Winder, managin
IMF fiscal reform delays 'may jeopardise recovery'
By NEIL HARTNELL Tribune Business Editor A failure to rapidly implement tax reforms "could jeopardise a sustained recovery" in the Bahamas, the International Monetary Fund (IMF) warning the Government's plans were "not sufficient" to reverse a rising $4.
Banks see $49.5mbad loans decline
By NEIL HARTNELL Tribune Business Editor Bahamian commercial banks experienced a collective $49.5 million or 4.1 per cent loan arrears reduction in February 2012, it was revealed last night, although it is probably too early to herald the start of a cred
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