The Bahamas Investor

...ecognized as non-cash stock compensation expense relating to the severance of former named executive officers, and $3.8 million is expected to be paid in cash to other terminated employees. Definitions “Adjusted EBITDA” means adjusted earnings before interest, taxes, depreciation and amortization as further defined below. “EBITDA” means earnings before interest, income taxes, depreciation and amortization, as further defined below. “Owned Hotels”......

...country’s fiscal affairs,” said Peter Turnquest, Deputy Prime Minister and Minister of Finance. The first quarter report reflects a small part of the planned expenditures for relief and recovery efforts associated with Hurricane Dorian. The full impact on budgetary developments is expected to be seen in subsequent reports during the fiscal year. In November, the government will present its revised estimates as part of the November 2019 Fiscal Stra......

...illion in 2010 and almost $500,000 in 2011, Irving says. So the improved profit forecast is part of a three-year plan to turn things around. “The projections have GBPC returning to the type of earnings they would have had prior to 2010-09,” Irving says. Grand Bahama Power also revealed in the prospectus that it expects to report $8.68 million in after-tax profit for 2012 and anticipates net income will rise to $12.33 million in 2013 due to greater......

...country’s upcoming entrepreneurs and strengthen the economy. According to Minister for Financial Services Ryan Pinder the final draft of the new “suite of IP legislation” is ready and the Ministry is poised to begin a consulation and education period, with input from the private sector. The move to modernize the country’s IP system comes as The Bahamas continues its efforts to become a member of the World Trade Organization (WTO) . WTO members mu......

.../UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘WWW.FITCHRATINGS.COM‘. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH’S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE ‘CODE OF CONDUCT’ SECTION OF......

...estment advisor–all with low personal liability. Announcing the new Family Office offering, Andrew Law, chief executive officer of IPG, said: “We are delighted to be able to offer this new and exciting service for high-net-worth families around the globe. With IPG’s approach, we are able to help clients and their advisors, wherever they are based, to protect their wealth by creating bespoke Family Offices using a legislative instrument specificall......

...tion—those turbines are big and loud. No one’s ever going to stick them up off Lyford Cay [exclusive Nassau community].” Trade winds Bahamas Renewable Energy Corporation (BREC), in partnership with Emera and the Canadian-based Schneider Power Inc, is proposing a combination of wind and solar farms on New Providence, the Abacos and Eleuthera. “Although the sun regime is very good in The Bahamas, solar energy is expensive so we have to include a win......

...ng a viable and very attractive product, these investors have raised the profile of The Bahamas by creating a community that attracts North Americans, Europeans and other international financial, entertainment and business leaders to live and play with their families and friends. At the same time Baker’s Bay is a family operation where employees and management work together to create memories for residence and staff. The development itself reflect......

...l be entitled to 90 days personal usage. According to the firm the absence of official property price statistics should not put people off buying. ‘Financial statistics only go so far. The best measure of a property’s market value is often the sale prices of nearby properties. The same holds true for area rents. A low price can often be justified by a reasonable rent. Renters who can afford a high rent can afford to buy instead, so reasonably pric......

...since the earthquake of 2010. It is a success story that will set the tone for future investments and the economic growth of Haiti. Mr. Zoratto shared lessons learned in IEP’s pursuit of signing definitive agreements with the government of Haiti, and the company’s hurdles to implement Project Phoenix. Mr. Zoratto’s speech was well received by private investors as they learned about the necessary work required to gain support for a project of this......

...a score of 7-over-par, two players from each team competed in a best ball format playoff on Hole #18. Tiger Woods and Ian Poulter represented Team Albany, and Graeme McDowell and Henrik Stenson played for Team Lake Nona in the playoff. Poulter sunk the winning putt breaking the tie between Albany and Lake Nona. Team Albany became the World Golf and Country Club Champion in its third Tavistock Cup start. Team Isleworth and Team Primland tied for t......

...ng rental income. Caves Heights offers a family pool, lap pool, tennis court, fitness center, barbecue and is ideally located near Nassau’s best beaches, a retail village and spa, and minutes from the exclusive Lyford Cay Club, the Old Fort Bay Club, BahaMar and the international airport. There are direct flights to Nassau from London, New York, Washington D.C. and Toronto, while Miami is just 35 minutes away.......

...he beneficial owner of the sold property is non-resident. Commercial real estate investments will still require Exchange Control approval, but only at the development stage. Subsequent sales of subdivided residential units or constructed dwellings (whether attached or detached) would not need approval. Under existing policies, non-resident entities must be designated as “resident” to be eligible to hold real estate in The Bahamas. The Bank will de......

...o provides for protection of assets against potential creditors, avoidance of forced heirship laws and indemnities for trustees, as highlighted below. The Trusts (Choice of Governing Law) Act, 1989 This law provides that assets held in a Bahamian trust may be protected from forced heirship claims or the enforcement of other foreign law rules, which are adverse to the free disposition of property. The Perpetuities (Amendment) Act, 2004 The Amendmen......

...ye’s 133-year history,” said Clark C. Smith, President and Chief Executive Officer of Buckeye. “This ownership structure will provide Buckeye with superior access to capital to execute on its long-term business strategy, and we look forward to working with IFM during this next chapter in Buckeye’s story.” Transaction Details The acquisition, which was announced in May 2019, received approval from Buckeye’s unitholders on July 31, 2019 and became e......