June 15, 2021

Cruise lines eye bid on Nassau’s ‘Bottom’ port

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By NEIL HARTNELL From Tribune 242 Royal Caribbean’s top executive yesterday confirmed that the industry has discussed submitting a bid to manage a Nassau cruise port that is “sadly among the Caribbean’s bottom”. Michael Bayley, president and chief executive of Royal Caribbean International, described to Tribune Business a fluid situation where the cruise lines were […]

Caribbean Bank: Bahamas fiscal plan ‘Very Ambitious’

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By NEIL HARTNELLFrom Tribune242 The Bahamas’ plan to reverse its fiscal woes has been branded “very ambitious” by the Caribbean Development Bank (CDB), with this nation needing to outperform GDP growth forecasts to hit target. The CDB, in a recently-released economic assessment of The Bahamas, warned that this nation faced an “unsustainable” debt burden as […]

Bahamas first’s ‘Banner Year’ as profits up 548%

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By NEIL HARTNELL From Tribune242   BAHAMAS First’s chief executive yesterday hailed 2017 as “a banner year” where profits increased almost seven-fold, adding: “Everything we needed to go in our favour did.” Patrick Ward told Tribune Business that the “buildings blocks” laid by the property and casualty insurer in prior years had paid off by […]

‘Global Disruption’ to impact Bahamas [& Cayman Islands] insurers

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By NEIL HARTNELL From Tribune242 Bahamas First’s top executive has warned that local insurers are likely to face increasing competition from consumers acquiring coverage online, as the underwriter’s gross and net premiums declined 3 per cent in 2016. Patrick Ward told Tribune Business that the Bahamian property and casualty market “won’t escape disruption” from forces […]

Bahamas tops Caribbean on crime’s economic cost

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By NEIL HARTNELL Tribune Business Editor From Tribune242 The Bahamas leads the entire Caribbean on economic losses stemming from crime, losing $434 million or almost 5 per cent of its annual gross domestic product (GDP) to the scourge. The extent of crime’s impact on Bahamian economic output and wider society is laid bare in an […]

[Cayman Islands’] Liquidator targeting Govt’S $720k oil fee

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By Neil Hartnell From Tribune 242 Some $720,000 in oil exploration license fees that were paid to the Bahamas Government are being targeted by a Cayman-based liquidator, who has written to two Cabinet ministers seeking their assistance in recovering the funds. Christopher Johnson, managing director of Chris Johnson & Associates, indicated to Tribune Business that […]

Fnm Deputy wants Crown Land Sovereign Wealth Fund

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By Neil Hartnell From Tribune 242 The Opposition’s deputy leader yesterday called for the Government’s multi-billion dollar Crown Land holdings to be transferred into a sovereign wealth fund-type vehicle, demanding: “We have to formalise and regularise the situation.” K P Turnquest called for greater transparency and policy clarity over how Crown Land was managed, and […]

Gb Airport costs 126% above region

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By Natario Mckenzie, Tribune Business Reporter From tribune242 TOURISM officials yesterday conceded it was “critical” that Freeport’s airport fuel and handling costs, which are 126 per cent higher than Caribbean rivals, are reduced within the next “three to six months” to sustain the sector’s growth and make it truly competitive. David Johnson, the Ministry of […]

The Bahamas tops region on royalty payments [Cayman mentioned but see NOTE]

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By Neil Hartnell, From Tribune 242 The Obama administration has praised the Bahamas for being the only Caribbean nation to make royalties payments to TV programming rights holders in 2013, boosting this nation’s reputation as a “responsible trading” partner. Ryan Pinder, minister of financial services, replied “excellent, excellent” when told by Tribune Business of the […]