Soaring boat insurance ‘huge cost’ to Bahamas
ASTRONOMICAL boat insurance costs are having a “huge” impact on Family Island hotels and marinas through shortening the tourism season by a month and leaving many “empty” over the summer.
GBPA: $200m in taxes far exceed Gov’t outlay
THE Grand Bahama Port Authority (GBPA) yesterday blasted the Government’s huge payment demand as ill-founded by arguing that the $200m tax revenues earned by the latter far exceed what it invests in Freeport.
PM told GBPA’s owners: I have ‘no confidence’ in you
THE Prime Minster personally told the Grand Bahama Port Authority’s (GBPA) owners that he has “no confidence” in their ability to “realise the promise and potential of” Freeport.
Deltec’s big damage from FTX investor ‘Gatling gun’
A BAHAMIAN bank and its chairman have blasted aggrieved FTX investors for employing “a Gatling gun approach” that has inflicted “tremendous damage” on their financial services reputation.
GBPA: We’ll fight govt over demand
THE Grand Bahama Port Authority (GBPA) yesterday blasted the Government’s huge payment demand as ill-founded by arguing that Freeport’s $200m annual tax revenues far exceed what government invests in the city.
GBPA ‘vehemently disputes it owes $1’ of $357m Gov’t claim
THE Grand Bahama Port Authority (GBPA) “does not accept it owes $1 to the Government out of that $357m” claim which has more than doubled after the number of years included were expanded.
Albany developer’s Bahamas return after spared jail time
ALBANY’S principal investor was given permission to return to The Bahamas as early as yesterday after being spared jail time following his previous guilty plea to securities fraud.
‘Mind-boggling’ timing over Gov’ts $357m GBPA claim
A FREEPORT attorney yesterday asserted it was “mind-boggling” that the Government should again “throw darts” at the Grand Bahama Port Authority (GBPA) given the island’s $2bn investment pipeline.
Pension shake-up over $3.5bn hole
PENSIONS for thousands of Bahamian public sector workers are poised for a major shake-up in a bid to tackle “alarming” unfunded liabilities that could impose a $3.5bn burden on taxpayers come 2030.
Fraud issues behind Finco’s $500 ATM daily limit
ROYAL Bank of Canada’s (RBC) BISX-listed mortgage financier has this week imposed $500 daily automated teller machine (ATM) withdrawal limits in a bid to better protect customers from fraud.
Gov’t u-turn on Nassau solar bidding deadline
THE Government has performed a u-turn over the deadline by which all bids on the New Providence renewable energy and microgrid project must be received, it can be revealed.
‘Public protest’ not enough to overturn planning approvals
PLANNING authorities yesterday modified the approvals granted to Wynn Development’s 14-storey Goodman’s Bay penthouse while ruling that “public protest” is not sufficient to overturn prior decisions.
NIB’s $240m loss at COVID’s peak
COVID-19 has left the National Insurance Board (NIB) facing an “uphill lift” to recovery after plunging the nation’s social security system into a $240m loss at the pandemic’s peak.
Gov’t and Opposition fight on GDP growth
THE Government and Opposition yesterday battled over what real GDP growth that fell below expectations for 2023 means for The Bahamas’ short-term economic prospects.
Bahamas approved for $60m ‘blue economy’ credit facility
THE Bahamas is gaining access to a $60m credit line targeted at micro, small and medium-sized businesses (MSMEs) in the so-called ‘blue economy’ in a bid to boost sustainable development.
