Gov’t ‘not begun to repay’ $239m IMF SDRs loan
The Government “has not begun repayment” of the $232.3m in IMF special drawing rights (SDRs) it controversially accessed via the Central Bank as the outstanding “loan” balance grew by $6.18m over 2023.
PM: Break ‘scare tactics’ to hold GBPA accountable
The Prime Minister last night urged the private sector to break free of the “scare tactics” employed whenever the Government demands the Grand Bahama Port Authority (GBPA) “live up to its obligations”.
Central Bank exposed to $3m claim on abandoning new HQ
The decision to abandon the Central Bank’s new Royal Victoria Gardens headquarters has exposed the banking regulator to a potential $3m-plus claim from one of the project vendors.
GB Power on Electricity Bill: ‘We read about it in papers’
Grand Bahama’s electricity provider yesterday revealed it was never consulted on key energy reforms passed by the House of Assembly last week and had to learn about them “in the papers”.
ACTIVTRADES: Mixed results in earnings season
The earnings season in the US continued last week and, once again, had its winners and losers. On Friday last week, labour market data in the US came in worse than expected. The US economy created significantly fewer jobs than expected in April, and the unemployment rate rose slightly. In addition, wage growth surprisingly slowed somewhat. And the ISM Index was also disappointing, as the numbers showed on Friday.
Chamber targets education over Business Licence woe
The Chamber of Commerce’s vice-chairman says it wants to work with the Government to better educate the private sector and avoid the delays that plagued this year’s Business Licence filings
‘Priority’ to strike cruise port balance for taxis
A Cabinet minister says it is a “priority” to find the correct “balance” between taxi drivers and the Nassau Cruise Port to ensure it is “fair and just” for all parties.
Minister: We’ll leave taxi sector in ‘better condition’
A Cabinet minister has pledged the Davis administration will leave the taxi industry in “better condition” than it found it with the new driver code of conduct not designed just to “reprimand”.
FTX chief’s Albany handover to preserve $200m recovery
The head of FTX’s Bahamian subsidiary is handing over his Albany home to local liquidators to ensure the recovery of “more than $200m” from selling-off the crypto exchange’s real estate is not endangered.
‘Fantastic opportunity’ given Bahamas in UK tax change
Realtors yesterday argued The Bahamas has “a fantastic opportunity” to exploit changes in UK tax law by attracting hundreds of ultra wealthy individuals and their families to domicile in this nation.
PM told: Wear ‘game hat’ for GB business meeting
The Prime Minister is being urged to wear his “game hat” for tonight’s Freeport meeting with a business community eager to learn how the $357m demand of the Grand Bahama Port Authority was calculated.
RF: ‘No impact’ from core software dispute
RF Bank & Trust yesterday asserted that a dispute with its core software provider will “not in any way impact customer funds or overall operations” as it bids to resolve their differences.
FTX’s Salame hands $200m Albany home to liquidators
THE head of FTX’s Bahamian subsidiary is handing over his Albany home to local liquidators to ensure the recovery of “more than $200m” from selling-off the crypto exchange’s real estate is not endangered.
Judge rules on Wells’ LOI - ‘no case to answer’
A FORMER Cabinet minister’s decade-long ordeal over the Stellar Energy letter of intent (LOI) controversy was yesterday halted by the Supreme Court’s verdict that he has no case to answer.
'Horrendous' surge in contractor walk-aways
The Bahamian Contractors Association's (BCA) president yesterday revealed there has been "an horrendous" increase in complaints over the past 12-18 months about contractors abandoning clients.
