After intense negotiations between Baha Mar and the Scotiabank lenders an agreement on the broad parameters has been reached for the settlement of the outstanding $200 million loan.
The Bahamas: Business
Due to Baha Mar’s outstanding loan with the Bank of Nova Scotia the government of the Bahamas has temporarily halted the resolution debate regarding the work permits for the $2.6 billion Cable Beach project.
Veteran business leaders Joan Albury and Pastor Silbert Mills are at the top of the list of Visionary Award honourees to be recognized at the upcoming 2010 Visionary Business Leaders and Entrepreneurs Awards Conference.
Small and medium-sized businesses in the Bahamas are estimated to be failing at a rate of five per week and that their contribution to the gross domestic product (GDP) of the Bahamas has dropped.
Amidst controversy and bitterness newly-elected and reinstalled president Belinda Wilson promised to bring an end to the ongoing fighting within the Bahamas Union of Teachers.
Negotiations for the purchase of the Walker’s Cay resort have come to a standstill, with the primary bidder claiming that the seller is making the process to close the deal on the multimillion dollar project more difficult.
With all the corruption and legal wrangling over the arbitration award and verdict, the two protagonists – Plainfield and Mr Stein/RHS Ventures – along with the jilted time share owners, remain in “limbo”.
The Bahamas Institute of Chartered Accountants (BICA) is clamping down on individuals who are not fully complying with its professional conduct policy.
Minister of State for Finance, Zhivargo Laing, appeared before the World Trade Organisation (WTO) Geneva, Switzerland to lay out and discuss the case for the Bahamas to become a member.