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FNM claims govt broke law on finance

THE Opposition’s finance spokesman yesterday challenged whether the Government may have violated public finance laws by drawing on $133m from its “sinking funds” to pay debts coming due.

Civil society: The cornerstone of democracy and progress

IN its broadest sense civil society is all the people, places, and things functioning in a civilised society.

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.

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.

FOCOL targets wide growth in ‘preparing for the next 50 years’

FOCOL Holdings’ top executive last night said it is targeting growth “in every sector of our business”, including gas stations and electricity generation, and added: “We’re preparing for the next 50 years.”

Sandilands and Centreville Primary girls and boys volleyball champions

SANDILANDS Primary and Centreville Primary emerged as the girls and boys champions of the New Providence Public Primary Schools Sports Association’s 2024 volleyball championships.

Albany chief in 'devastating and self-inflicted humiliation'

Albany's principal investor has admitted that pleading guilty to securities fraud is "a devastating and self-inflicted humiliation I will have to live with for the rest of my days".

‘Specialist skills dearth’ hurts financial services

A “DEARTH of specialist skills” in the legal and other professions is undermining the Bahamian financial services industry’s competitiveness, a prominent KC warned yesterday.

50% fear or pay bribes for building and import permits

Fifty percent of Bahamian companies seeking construction and import-related permits say they have either been asked, or expect, to pay a bribe to obtain the required approvals, it has been revealed.

Central Bank in multiple exchange control eases

THE Central Bank last night unveiled multiple reforms to further relax The Bahamas’ exchange control regime that it believes will not create any “material” risks for the US dollar peg and wider economy.

Call for immediate ceasefire

JOINING the voices of non-governmental organisations, feminist movements, and activists all over the world, Equality Bahamas calls for an immediate ceasefire and an end to the occupation of Palestine by Israel.

AG: ‘Potential $900m per year in carbon credits’

THE potential revenue from carbon credits for The Bahamas could reach as much as $900m a year, according to Attorney General Ryan Pinder at yesterday’s RF Outlook 2024.

ArawakX full wind-up sealed without a fight

THE Bahamas’ first-ever crowd funding platform’s fate was yesterday sealed without a fight after its former principals effectively consented to its liquidation amid claims of a near-$4m insolvency.

Restaurant chain to double staff as revenues rise 15%

A BAHAMIAN restaurant chain is aiming to double its workforce by July through the creation of 48 new jobs with revenues for the year-to-date some 15 percent ahead of 2023.

Deltec’s terminations ‘to realign workforce’

DELTEC Bank & Trust last night confirmed it has moved “to realign its workforce” via a right-sizing which is said to have resulted in around 11 staff being terminated last week.

International certification for GBPA department

THE Building and Development Services at the Grand Bahama Port Authority received ISO 9001 certification, a globally recognised standard for quality management.

National debt up as spending rises faster than revenue growth

The Central Bank revealed yesterday that the national debt grew by $206m over the last quarter.

ArawakX ‘to be reported’ to police amid $4m insolvency

The Bahamas’ first-ever crowd funding platform is suffering from a near-$4m insolvency, its provisional liquidators have asserted, as they prepare to report “multiple criminal infractions” to the police.

FOCOL eyes 25% profit surge plus acquisitions

FOCOL Holdings is predicting a profit increase of 25.2 percent over the next three years with proceeds from its newly-launched $25m rights offering set to fund unspecified acquisitions and expansions.

Freeport 'could attract $100bn if the economic model is right'

A Grand Bahama Port Authority (GBPA) director yesterday argued "Freeport needs $10bn, and could attract $100bn if we get the model right" amid a peace offering from the deputy prime minister.

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