The Bahamas' stalled Baha Mar resort may begin its formal asset-liquidation process as soon as early next month, as negotiations have failed to produce an agreement among the parties.

MPH Ventures Corp. (MPS) is pleased to announce, further to its news releases of July 8 and August 14, the Company has completed the acquisition of a 20 percent interest in Travelucion S.L. by the issuance of 4,000,000 shares of MPH Ventures at a deemed price of $0.05 per share and the payment of CAD $100,000 to the selling shareholder of Travelucion S.L.

The Cayman Island’s proposed cruise ship pier states the new facility will cost $190 million and could generate up to $439 million over 20 years.

After 34 years of working together, Travel Impressions and Sandals Resorts Internationals are no longer partners.

According to minister of tourism and international transport, Richard Sealy, the agreement, which allows for full fifth freedom rights, would redound to the benefit of both Barbados and India.

The United States commerce secretary, Penny Pritzker, told Cuban officials on Tuesday that the Obama administration wants to create as many business opportunities as possible in their nation for American companies despite the long embargo and more than five decades of Cold War estrangement.