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Bahamas targets 2m air arrivals for 2024
The Bahamas is forecasting that foreign air stopover arrivals will break the two million mark for the first time in 2024 after more than 500,000 landed during the year’s first quarter.
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Freeze on $2.288m City Markets HQ buy upheld
The Court of Appeal yesterday upheld an injunction freezing $2.288m that was paid by a BISX-listed food group to acquire the major asset held by the City Markets employee pension fund.
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AG: BPL needs 400MW in new generation plant
Bahamas Power & Light (BPL) needs more than 400 mega watts (MW) of new generation capacity to address a “dire” situation requiring between 60-80 percent of its existing plant to be replaced within five years.
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Transparency ‘lip service’ fear over fiscal watchdog’s limbo
The failure to revive a key fiscal watchdog is “a critical shortcoming of the Government” that raises questions over whether it is paying “lip service” to transparency and accountability, it was argued yesterday.
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‘Most of BPL Plant obsolete in 5 years’
ATTORNEY General Ryan Pinder said 60 per cent of Bahamas Power & Light’s plant in New Providence and 80 per cent of its plants in Family Islands must be replaced in the next five years as engines reach the end of their useful life, a transformation that will cost almost $300m.
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Govt launches project to digitise the public service
THE Ministry of Labour and Public Service, in partnership with the Ministry of Finance and Economic Affairs, launched Cloud Bahamas, a project to digitise the public service and stop relying on paper files.
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‘Explanation owed’ on back dated revisions to BPL debt
The Opposition’s leader yesterday argued that the Government “owes an explanation” for why it has retroactively revised the debt owed by Bahamas Power & Light (BPL) going back almost two years.
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Ex-Minister: ‘Nothing to do with’ dead dolphins
An ex-Cabinet minister yesterday blamed US bankruptcy trustees for the plight of Blackbeard’s Cay’s dolphins as he had agreed to care being provided prior to their potential sale.
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Pintard bashes Davis for being ‘unprepared’ to answer questions
FREE National Movement leader Michael Pintard bashed Prime Minister Philip “Brave” Davis for being “unprepared” to answer several questions related to a $500m Inter-American Development bank loan, the status of Bahamas Power and Light (BPL), the government’s efforts to enhance transparency, and other more matters.
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Cousin says she never conspired with Gibson
THE cousin of Long Island MP Adrian Gibson said yesterday that she never conspired with the former WSC executive chairman to defraud the corporation, adding that the courtroom was the first time she learned that WSC contracts had been awarded to a company of which she was a shareholder.
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Fraudulent transactions drop in value by $15.4m
Fraudulent Bahamian financial transactions decreased in value by 72.6 percent to a collective $5.8m in 2023, the Central Bank revealed yesterday, with the frequency of such crimes also dropping sharply.
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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”.
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Turnquest: Davis administration ‘watered down fiscal laws’
FORMER Finance Minister Peter Turnquest accused the Davis administration of watering down fiscal laws that promote transparency and accountability.
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Gibson ‘wanted to burst ex’s brain’
LONG Island MP Adrian Gibson allegedly said in text messages that he sometimes wanted “to burst” his ex-fiance’s brain and that she screwed him over by “blaming” him.
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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.
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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.
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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.
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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.
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Man granted bail in $7k stealing case
A 28-year-old man was granted $7,000 bail on Friday after being accused of stealing over $7,000 from a man’s bank account three years ago.
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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.
