“Just how the place ended up like this — in a bankruptcy so colossal that it’s jeopardizing the Bahamas’s credit rating — is the biggest business story to hit this Caribbean nation for as long as anyone here can remember. Baha Mar may have been dreamed up in the vacationland of the Bahamas, but the central government in Beijing controls the development bank and construction giant that will determine its fate. It could be 2018 before Baha Mar makes a meaningful contribution to the economy, according to Standard & Poor’s, which lowered its Bahamas rating to BBB- and warned it could be heading for junk.”
Related posts:
JPMorgan's Latest Guilt-Free Payoff
Ouster of Egypt’s Morsi creates headache for the U.S.
Fund to Let Investors Bet on Price of Bitcoins
Obamacare for some: 49% price hike since 2014, premiums of $14,300
Hospital technician pleads guilty to leaving dirty needles after feeding his painkiller addiction
French farmer's industrial snail-slime harvesting process to feed cosmetic industry
Bitcoin Coming To Your 401(k)?
Greek Banks Reopen but Cash Limits Remain and Taxes Soar
China Central Bank Warns Banks on Liquidity
Pentagon: Afghan war costing US $45 billion per year
China Orders Ban on New Government Buildings
Coinbase bans WikiLeaks; WikiLeaks calls for global boycott
Ex-IMF head Strauss-Kahn denounces treatment in U.S. rape case
Obama nominates former Freddie Mac executive to lead IRS
Kim Dvorak: "Mercedes Says Their Cars Just Don't Blow Up!"