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'Fairly flat' forecast concerning resorts
THE Bahamian hotel industry is concerned that current business projections for September and October, the low point of the tourism season, "are fairly flat" against 2009 comparatives, Tribune Business was told last night, although the sector was encouraged by July occupancy levels that almost matched pre-recession figures.
'Far reaching' casino reforms to government
By NEIL HARTNELL
Tribune Business Editor
The Bahamas Hotel Association (BHA) has "resubmitted far-reaching reform" proposals to the Government for the revamp of this nation's gaming laws, its president telling Tribune Business that the country had been unable to translate its proximity to the US into success in this industry.
Speaking as Jamaica becomes the latest Caribbean nation to enter the global casino gaming market, outlining plans to issue three such licences, Robert Sands told this newspaper that cost and product competitiveness factors had prevented the Bahamas from more fully exploiting the industry's economic benefits.
Describing reforms of the Bahamas' antiq ...
'Fees Will Drive Away Tourists'
A new airport fee system for taxis, buses and limousines has sparked outrage among executives of the tour industry, who say the fees are too high and will ultimately drive away tourists.
'Fly Free' promotion costs partners 32m
The Ministry of Tourism, promotions boards and Bahamian hotels have spent a collective $31.67 million on the Companion Flies Free program in 18 months, generating just under 450,000 room nights of business, Tribune Business has learnt.
The initiative was associated with close to 93,483 bookings at hotels throughout Nassau and Paradise Island, Grand Bahama and the Family Islands between December 2009 and May 2011.
These figures have been obtained by this newspaper as the Government and private sector have decided to bring the Companion Flies Free program to an end.
It had been hailed as successfully stimulating arrivals to his natio ...
'Go Further' Than Private Sector on Gaming Reforms
A WELL-KNOWN tourism executive yesterday expressed hope the Government would "go further" than the industry's proposed changes to this nation's casino gaming regulations, telling Tribune Business that reform was "extremely important" for the Bahamas' competitiveness in this sector.
'Going the right way to destroy aviation'
By NEIL HARTNELL
Tribune Business Editor
The imposition of 10 per cent import duty on all aircraft in the Bahamas will "only serve to deter the growth of the market" and development of a Bahamian aircraft registry, Sky Bahamas chairman has told Tribune Business, adding: "If they're trying to kill the private aviation industry, they're going about it the right way."
K P Turnquest, who is also the Grand Bahama Chamber of Commerce's president, together with Sky Bahamas' chief executive, Captain Randy Butler, both confirmed to this newspaper the unease created among both airlines and private plane owners by Customs' recent practice of boarding planes to ask qu ...
'Golden Girls' to be honoured at awards luncheon
By BRENT STUBBS
Senior Sports Reporter
bstubbs@tribunemedia.net
IT doesn't seem as if it was 10 years ago when the team of Sevatheda Fynes, Chandra Sturrup, Pauline Davis-Thompson, Debbie Ferguson-McKenzie and alternate Eldece Clarke ascended the podium as the women's 4x1 relay gold medallists at the Olympic Games.
Their feat in Sydney, Australia, in 2000 came one year after the same five "Golden Girls" shocked the world by winning the gold medal at the IAAF World Championships in Seville, Spain.
But Davis-Thompson, who represented the other members of the team at a Bahamas Association of Athletic Associations (BAAA) press conference to announce that they will be honoured ...
'Government Is Shifting Attention From Gregory Moss'
Free National Movement leader Dr Hubert Minnis yesterday insisted that government operatives are hard at work shifting the public attention from the allegations against NIB chairman Greg Moss.
'Growing concern' on informal lenders
By NEIL HARTNELL
Tribune Business Editor
The Securities Commission has reported some success in its efforts to regularise unlicensed Bahamas-based money lenders and brokers, a senior official telling Tribune Business that "at least five" had reported to the regulator prior to it issuing a 30-day extension, although the issue remains "a growing area of concern".
Speaking to this newspaper after the Securities Commission, in its role of Inspector of Financial and Corporate Services Providers, granted a 30-day extension for unlicensed money lenders, brokers and pay day lenders to apply to be formally regulated, Gawaine Ward, the regulator's deputy legal counsel, said its con ...
'Has patient lost too much blood'
By NEIL HARTNELL
Tribune Business Editor
business@tribunemedia.net
THE acquisition of a 78 per cent majority stake in struggling City Markets was completed by businessman Mark Finlayson and his family on Friday, sources familiar with the situation told Tribune Business yesterday, as one rival - while praising the new owners for rescuing some 700 jobs - questioned whether "the patient may have lost too much blood".
This newspaper was told by contacts familiar with developments at City Markets, and its Bahamas Supermarkets operating parent, that all necessary government approvals - including foreign exchange control permission from the Central Bank of the Bahamas - was granted on Friday pas ...
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