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PM dismisses fears GBPA battle will ruin investment
The Prime Minister yesterday dismissed concerns that the escalating battle with the Grand Bahama Port Authority (GBPA) over the Government’s $357m payment demand will ruin investor confidence.
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Nassau Gas chief pledges to fully refund all investors
A Bahamian company that raised equity capital through the collapsed ArawakX platform has pledged to return all funds to investors once they are verified, its principal saying: "I want to get out of this mess."
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PM dismisses concern GBPA dispute will undermine investor confidence
PRIME Minister Philip “Brave” Davis dismissed concerns that the government’s dispute with the Grand Bahama Port Authority (GBPA) undermines investor confidence and suggested that investors already lacked interest in the island.
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New ideas are needed
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The New York Stock Exchange’s recorded losses at an overall high level last Friday. Data from the US industry sectors was poorly received by investors.
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‘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.
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Former FTX chief Sam Bankman-Fried jailed for 25 years
Crypto entrepreneur Sam Bankman-Fried was sentenced on Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world's most popular platforms for exchanging digital currency.
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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.
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Royal Caribbean to start PI site clearance
Royal Caribbean yesterday confirmed it is “right at the cusp” and aiming to begin site clearance for its $100m Paradise Island beach club this week with a Heads of Agreement signing “very close”.
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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.
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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.
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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".
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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.
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Freeport poised to be ‘fastest growing Caribbean economy’
FREEPORT needs Nassau-based investors to help build “critical mass” in a city “poised to be the fastest-growing economy in the Caribbean”, a Port Authority executive asserted yesterday.
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Ex-MP slams the Gov’t for $357m GBPA ‘shakedown’
A former MP yesterday slammed the Government’s demand that the Grand Bahama Port Authority (GBPA) pay it $357m as “a shakedown”, and questioned if the former is “either broke or desperate”.
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FNM: WHERE IS SALE OF GRAND LUCAYAN? Pintard blasts Cooper over lack of progress on hotel and airport
MICHAEL Pintard blasted Deputy Prime Minister and Minister of Tourism Chester Cooper for not yet overseeing the sale of the Grand Lucayan resort and for not getting an airport in Grand Bahama.
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Bahamas demands end to ‘blacklisting’
The Bahamas is demanding that ‘blacklisting’ countries in a bid to force them to reform their taxes and other laws be eliminated and replaced by a more co-operative approach overseen by the United Nations (UN).
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GBPA told to pay $300m in 30 days
THE Davis administration has sent a demand letter to the Grand Bahama Port Authority (GBPA), giving it 30 days to pay more than $300m allegedly owed to government over the last five fiscal years.
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'Release PwC report on what the GBPA owes’
FREE National Movement leader Michael Pintard wants the Davis administration to release the PwC report outlining what the Grand Bahama Port Authority (GBPA) owes the government.
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FTX prosecutors push for tougher sentence
US prosecutors are exploiting the $426m transfer of digital assets to the safekeeping of Bahamian regulators to press for a harsher prison sentence for FTX founder Sam Bankman-Fried.
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FTX Bahamian liquidators eye US legal ‘run rate’ fall
FTX’s Bahamian liquidators are hoping the legal fees “run rate” drops sharply due to the settlement with their US counterpart after incurring an estimated $56m total bill during their first 15 months of work.
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