The original developer of a Bahamas-based resort was this week awarded more than $4 million in damages against the insurer that cost it “millions of dollars” and threatened the project’s very “survival” by failing to spot title defects.
The developers behind Eleuthera’s French Leave Resort and Marina yesterday said they were “cautiously optimistic” about securing an additional $10 million in equity financing to fund the build-out of 20 more villas.
The negotiations over Freeport’s expiring tax breaks are “very much a matter of survival” for the Grand Bahama Port Authority’s (GBPA) 3,500 licensees, an outspoken QC arguing that these incentives are among the few “not completely breached” yet.
The Bahamas Petroleum Company’s (BPC) chief executive yesterday said the Government’s increased ‘take’ from oil exploration would not apply to its activities, because its fiscal terms were already set.
Prime Minister Perry Christie yesterday said the developers behind the proposed Four Seasons resort project at Cotton Bay had asked the Government to “open up on work permits”, so the development could maintain the brand’s standards.
Eleuthera’s economy is suffering from a “boom or bust” trend that makes it difficult for businesses to plan for long-term growth, the island’s Chamber of Commerce president said yesterday.
The Bahamas Telecommunications Company’s (BTC) controlling owner yesterday conceded that its network quality “lags” much of the Caribbean and wider world, despite increasing its capital investment by 47 per cent last year.
THE Government yesterday signed an $8.3 million contract to modernise the Road Traffic Department, as it bids to improve customer service and maximise revenue.
A leading trade unionist has called for the creation of a tripartite National Productivity Council, arguing that the Bahamian education was “designed for students to fail”.
CURRICULUM reform in the school system should be the first step in tackling this nation’s ‘skills gap’, a veteran educator arguing that the education system must shift to a model that requires all students to meet a certain standard before they can obtain a high school diploma.
The resolution to a 10-year dispute over Long Island’s one-time largest employer presents “a wonderful opportunity” to revive the island’s economy, its MP yesterday describing the surrounding area as “ghost town”.
Prosecutors “singularly failed” to prove that a former Bahamian Contractors Association (BCA) president stole electricity at a prominent downtown Nassau property that he managed, the Court of Appeal ruled.
An Opposition MP yesterday warned that the Bahamas’ sovereign creditworthiness could be “very negatively” impacted if the $3.5 billion Baha Mar project fails to open within the next three to six months.
An $11.5 million deal to purchase the 25,000 acre property that was once Long Island’s largest employer cannot be concluded because there was never “an enforceable sales contract”, the Privy Council ruled yesterday.
The developer adjacent to a newly-announced $100 million resort project believes they will together make Cotton Bay “the Caribbean’s premier destination”, as he blasted former Prime Minister Hubert Ingraham for decisions that caused South Eleuthera’s “demise”.