[xml][/xml]
The Bahamas Weekly Facebook The Bahamas Weekly Twitter
News : International Last Updated: May 7, 2015 - 7:57:38 AM


Al Jazeera reports on Baha Mar and Bahamas - China relations
Oct 9, 2015 - 12:07:07 PM

Email this article
 Mobile friendly page

Baha-Mar.jpg
NASSAU, Bahamas — Earlier this year, we reported on Al Jazeera America being in Nassau to report on Baha Mar and Bahamas - China relations. they interviewed Edison Sumner, CEO Bahamas Chamber of Commerce; DNA Leader, Branville McCartney; Bahamas Minister of Tourism, Hon Obie Wilchcombe; Daniel Liu, SVP of China Construction America; Laranda Gibson; and Justin Lockhart.

Here's is their feature with video published on October 5th:

Aljazeera writes, "Missing two grand opening deadlines isn’t something that any large venture hopes to experience, but that’s exactly what has happened to Baha Mar.

Touted as China’s largest commercial real estate project in the Western Hemisphere, Baha Mar, a $3.5 billion Bahamian resort complex, has floundered this year, causing the most serious economic damage the small island country has seen since the global financial crisis. The resort is predicted to contribute 12 percent to the country’s gross domestic product, but its failure to materialize has at least in part led Standard & Poor’s to downgrade the country’s sovereign credit rating.

Thousands of Bahamians had expected to work at the resort by now. Instead, the developer filed for Chapter 11 bankruptcy protection in Delaware this summer while the government assigned a provisional liquidator. The spat between Chinese contractor China Construction America and local Bahamian developer Sarkis Izmirlian — with the Chinese side accusing its local partner of mismanagement and the Bahamian side citing missed deadlines — has meant no progress on opening the 97 percent completed resort for business....


Read the full feature HERE.


Bookmark and Share




© Copyright 2015 by thebahamasweekly.com

Top of Page

Receive our Top Stories



Preview | Powered by CommandBlast

International
Latest Headlines
Successful staging of regional inter-agency emergency response exercise
ILO: Global unemployment expected to rise by 3.4 million in 2017
Commonwealth of Dominica assumes Chairmanship of OAS Council for Integral Development (CIDI)
Caribbean prepares to pilot COAST insurance to protect fisheries sector
Caribbean regional security, health and disaster agencies face comprehensive readiness test
St. Lucia PM addresses nation at New Year press conference on Crime, Road Works and Upcoming Projects
Shooting at Fort Lauderdale Aiport, 1 in custody, 5 dead
Caribbean Regional Fisheries Mechanism helps strengthen sanitary controls in the CARIFORUM fishery sector
First African-American space station crew member to take flight in 2018
NASA Selects Two Missions to Explore the Early Solar System
OAS Electoral Observation Mission in Haiti Congratulates Haitian People and Electoral Authorities on Conclusion of Presidential Electoral Process
Sterling Bank & Trust Announces Appointment of Canada Former Premier Michael Harris as Director
ICAO: Traffic growth and airline profitability were highlights of air transport in 2016
2016: the year Zika evolved from an emergency into a long-term public health challenge
Dominica Government moves swiftly to resettle Silver Lake victims after fire
Bahamas and Belize Share Caribbean Mediathon Win
Jemima’s Playhouse Brings New “Cultural Appreciation” Educational Method to Omaha
Bahamas Minister of Transport and Aviation Visits St. Lucie County, FL
Caribbean Regional Fisheries Mechanism hosts training in fishery sector sanitary controls in St. Vincent and the Grenadines
Bradford Marine Celebrates 50th Anniversary
Experts make ‘slow, steady progress’ on safe seafood policies
New NASA Hurricane Tracking Mission on Track
Rahming presents farewell citation to Ban Ki-Moon
Caribbean Customs Officers Receive Joint Training on Transnational Crime and Corruption
ILO: Unemployment increased sharply in the Caribbean and Latin America
CIBC FirstCaribbean’s Bay Street branch named Branch of the Year
Bahamian Delegation calls on High Commissioner in London
New ‘safe seafood’ laws, export rules being readied
New universal global guidelines for anti-corruption law published
Ambassador Rahming Pays Tribute to Outgoing UN Secretary-General
Treco shows support for Bahamian students in Miami
The Carrolls attend Links Holiday Gala in New York
CIBC FirstCaribbean Wins 2016 Bank of the Year Country Award
IAEA Hosts Latin American, Caribbean and U.S. Experts on Fight against Screwworm Pest
Tourism key to U.S.-Caribbean Interests
Ten things to know before buying a “drone” this Christmas
NASA Remembers American Legend John Glenn
Secretary-General commits Commonwealth ‘to eliminate the scourge of corruption’ at Transparency International lecture
New Television Show Guides Viewers Through the Unseen Parts of the Caribbean
Bahamas Defence Force Lt. Graduates from Intl. Maritime Course