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Gov’t pushes MSC purchase of GBPA

Mediterranean Shipping Company (MSC) has made an offer to acquire the Grand Bahama Port Authority (GBPA), Tribune Business was told yesterday, amid concerns over “the brute force” being used to force its existing owners to sell.

$250m Container Port expansion hinges on incentive certainty

Hutchison Whampoa wants “certainty” that Freeport’s expiring investment incentives will be extended before committing to the $250 million Container Port expansion and other potential projects, it was revealed yesterday.

GB Chamber chief fears 2016 rating downgrade

The Grand Bahama Chamber of Commerce’s president yesterday expressed fears that Moody’s will follow its competitor and downgrade this nation’s sovereign credit rating in 2016, given that Baha Mar’s fate will require “a lengthy period” to resolve.

TOUGH CALL: Diplomacy lost in the midnight hour

WELL, we all know by now that the prospect of Baha Mar opening without untold collateral damage to our tourism brand, our national reputation and investor confidence, is more and more unlikely.

10 jobs to go in Ocean Club renovations; union seeks meeting with PM

TEN employees at the One & Only Ocean Club will lose their jobs to redundancy when the resort begins renovating its facilities this summer, the Paradise Island resort confirmed yesterday.

$60m Hilton sale 'win-win for all'

The British Colonial Hilton was sold for a sum “in the ball park of $60 million”, Tribune Business was told, as its outgoing chairman described the deal as “a win-win for everyone”.

The battle for 2017 votes is on

EDITOR, The Tribune.

Bahamas lacks 'social maturity' to accept Investor Citizenship

A Cabinet Minister believes the Bahamas lacks the “social maturity” to accept an Investor Citizen programme that would aim to attract the world’s wealthiest individuals to this nation and supply a major economic boost.

STAR SAILORS HONOURED

IT was 50 years ago that Sir Durward ‘Sea Wolf’ Knowles and Cecil Cooke brought international glory to the Bahamas with their gold medal performance at the 1964 Olympic Games in Tokyo, Japan. Yesterday, the memory was relived in the recognition by the Bahamas Government and the Bahamas Olympic Committee in a “Golden Anniversary” luncheon.

'Champagne pops' on telecoms merger nod

A Bahamian telecommunications provider’s principal is preparing to “pop champagne bottles”, after the Government finally approved a deal that will unleash $50 million in investment and the creation of up to 100 local jobs.

Receivers release several top Baha Mar executives

Five more senior Baha Mar executives have been terminated from their posts with the $3.5 billion development, providing further evidence there is no imminent resolution to the project’s plight.

Bran ‘concerned’ taxpayers to fund Baha Mar payouts

The DNA’s leader yesterday said he was “very concerned” that Bahamian taxpayers will ultimately be landed with the multi-million dollar bill for compensating Baha Mar’s creditors via the tax incentives granted to the Chinese.

Corporations facing $1.6bn pension hole

The Government-owned corporations will have a collective $1.6 billion deficit in their employee pension plans by 2032 unless urgent reforms are enacted, a report obtained by Tribune Business reveals.

Freeport’s top investors face $50-$60m tax strike

The Government has defied Hutchison Whampoa in deciding to impose real property tax in Freeport, a $50-$60 million revenue-raising move that represents a direct strike at the city’s largest investor.

RICHARD COULSON: The Sears manifesto promises political revolution

Richard Coulson welcomes the emergence of a new leader for The Bahamas and predicts a rapid political rise.

Female team give mandate to lead

Female team give mandate to lead By KHALILA NICOLLS khalilanicolls@gmail.com WHEN news broke that three of the four women who were elected to the House of Assembly were put in one ministry, Transport and Aviation, some observers were perplexed, myself

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