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Whittaker Plans Possible Takeover Deal For Shopping Centre Giant Intu

Isle of Man billionaire John Whittaker’s Peel Group is considering a possible bid to take over shopping centre giant Intu. Investment firm Peel Group is working with a group consisting of Saudi Arabia’s Olayan and Canada’s Brookfield on a possible offer for Intu, which owns 18 shopping centres across the UK including the Trafford and … Read More →

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Manx Utilities Puts Forward New Pricing Structure

Sewerage charges on the Isle of Man could increase if Tynwald gives the go ahead. Manx Utilities is putting forward a new pricing strategy which would see the charge go up. Water, sewage and electricity prices for domestic customers would go up by inflation only. In October 2017 Tynwald agreed to reduce Manx Utilities’ debt … Read More →

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The new owner of the Castle Mona Hotel identified by the Isle of Man Examiner: Now you can read the whole story here!

The Isle of Man Examiner this week named the new owners of the Castle Mona Hotel. Within hours of the paper reaching newsagents’ shops, the company involved confirmed the story. Ever since the historic Douglas hotel was sold, the identity of its purchasers was a secret. So the Isle of Man Examiner investigated. The paper … Read More →

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Auldyn Are Promenade Contractors

The contractor which will carry out the regeneration work on Douglas Promenade has been confirmed. Auldyn Construction Limited won the tender process and will alongside the Department of Infrastructure to deliver the £25M scheme. The construction company has worked with the Manx government before on schemes such as Pulrose Power Station and Douglas Harbour Lift … Read More →

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Tevir Group Confirms Purchase Of Castle Mona

The new owners of the former Castle Mona Hotel say their immediate priority is to secure the building from further deterioration. Tevir Group confirmed their acquisition of the historic seafront landmark after the Examiner exclusively revealed the identity of the new owners. It ends months of speculation about the purchasers. But their plans for the … Read More →

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Manx Labour Party – One Man And His Dog?

The Manx Labour Party is far from a ‘one man band’, according to the party’s secretary. Sara Maltby is keen to dispel the assumption that her father, and party leader David Cretney MLC is the sole driving force behind the organisation. The party has seen its membership double in the last year to forty-five members. … Read More →

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PAG Calls For MLC Pay Cut After Workload Survey

The Positive Action Group is calling for Members of the Legislative Council to take a pay cut due to their lack of constituency work. MLCs receive the same basic pay as Members of the House of Keys, despite not having constituents to deal with. The Group conducted a survey, asking MHKs to estimate how much … Read More →

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Bets Are On As Isle of Man Gaming Giant GVC Does Deal With American Group

Ladbrokes owner GVC Holdings, based in the Isle of Man, has today confirmed plans for a joint venture with MGM Resorts that will help the FTSE 100 gaming group take advantage of a burgeoning sports betting market in the US. GVC, registered in Athol street, Douglas, and New York-listed MGM have agreed to initially pump … Read More →

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Premier Group Collapse: Directors May Be Quizzed In Court

Island-based directors of a failed investment fund could be interviewed by liquidators in open court under oath. The application has been made by liquidators of Manx-registered New Earth Recycling and Renewables (Infrastructure) Plc (NERR). NERR was part of the New Earth Group of Funds, which invested in recycling plants in the UK. Together with its … Read More →

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Manx Government To Complete Steam Packet Purchase This Week

The Manx Government will complete its takeover of the Steam Packet Company this week. Treasury Minister Alfred Cannan will sign the formal agreement after Tynwald approved the £124m purchase of the ferry operator last week. The Treasury recently had assessments of the Ben-my-Chree and Manannan undertaken, finding the Steam Packet’s passenger vessels in good condition. … Read More →